Hong Kong Stock Concept Tracking | Plans for the construction of a new power system released! The power industry may welcome booming development (with concept stocks)
The Zhitong Finance App learned that on the afternoon of August 3, the National Development and Reform Commission and the National Energy Administration issued the “15th Five-Year Plan for the Construction of New Power Systems”, which proposed a series of specific measures from 13 aspects to accelerate the construction of a clean, low-carbon, safe and abundant, cost-effective, collaborative supply and demand, flexible and intelligent new power system. Under policy guidance, China's power system has entered a new construction cycle, and the power industry may welcome booming development.
The “Plan” proposes that by 2030, a new power system will be initially built: a green and low-carbon power supply pattern will basically be formed, accounting for 50% of non-fossil energy generation; the power supply capacity will continue to increase, the level of complementarity and safety resilience of the power system will be greatly improved, and the abundance of electricity supply will maintain a reasonable level to effectively meet the electricity needs of economic and social development and people for a better life; initially build a safe, reliable, green, low-carbon, strong, resilient, intelligent and flexible new power grid. The resource allocation platform fully exploits the role and service functions of more than 2.8 billion kilowatts. Na, built a charging infrastructure network that can support the travel of more than 110 million electric vehicles.
Under the guidance of the “Plan”, green and low carbon will become an important indicator of future electricity supply. The “Plan” proposes to strengthen guidance on the development and consumption of new energy sources. Based on the actual situation in each region, the guiding targets for the utilization rate of new energy sources are determined by regional classification based on factors such as the penetration rate of new energy electricity, comprehensive resource conditions, grid frame, adjustment capacity, and load growth. Optimize the layout of new energy development and maintain the national energy utilization rate at around 90% to support the target of non-fossil energy consumption.
“China has basically formed a clean electricity supply system with diversified development of coal, gas, nuclear and renewable energy.” Yang Kun, executive vice chairman of the China Electric Power Enterprise Federation, said that during the “15th Five-Year Plan” period, the dominant position of non-fossil energy power generation installations will be further consolidated, and the dominant position of electricity in the terminal energy use pattern will be further strengthened, providing strong support for economic and social development and green and low-carbon transformation.
CITIC Construction Investment released a research report stating that China will fully implement dual control of total carbon emissions and intensity, continue to expand carbon market coverage, strive for full coverage of major industrial emission industries in 2027, and place emphasis on eliminating backward production capacity for the first time. At the same time, we are vigorously cultivating green fuels such as hydrogen energy and green hydrogen ammonia alcohol, and speeding up the construction of new power systems, energy storage, smart grids, and clean use of fossil energy. The policy direction is clear, favoring carbon sinks, low-carbon leaders, carbon capture and technology transformation service providers, green power storage, and green hydrogen energy industry chains. It is recommended to focus on high-certainty low-carbon transformation investment opportunities.
In terms of promoting the collaborative and integrated development of electricity and related fields, the “Plan” mentions enhancing power supply guarantee capabilities to meet the needs of various computing power facilities with high reliability. Coordinate the allocation of energy resources and the construction of computing power facilities, and collaboratively plan and lay out computing power and power projects, so that electricity can be forcibly calculated and calculated to promote electricity. Relying on new models such as integrated source network load storage and direct connection to computing power facilities, green power aggregation transactions and local consumption are realized, and the proportion of green electricity in computing power facilities is increased. Strengthen recycling of waste heat resources in computing power facilities.
Supporting the development of new energy sources does not require continued release on the demand side. Among them, artificial intelligence is the fastest-growing consumer of electricity, and the rapid development of high-tech industries such as new energy vehicles has led to a strong increase in electricity consumption.
According to data released by Cui Dongshu, Secretary General of the Passenger Transport Association, the Eastern Plains region, southern provinces and cities, and first-tier developed cities, the NEV market share has reached more than 60%, and the characteristics of regional power structure differentiation are remarkable. At the same time, the development of AI places higher demands on power grids. A strong power system will bring advantages to AI competition, and the market's demand for electricity will continue to expand.
According to data from the National Energy Administration, it is estimated that during the “15th Five-Year Plan” period, the country's computing power consumption will increase by more than 100 billion kilowatt-hours per year, and is expected to reach 800 billion kilowatt-hours by 2030. The electricity consumption of the whole society will increase from 1.6% now to about 6%. Computing power is an important driving force for future electricity consumption growth.
“The plan not only focuses on the development of electricity itself, but also promotes collaborative and integrated development in the fields of electricity, computing power, transportation, etc., and strives to give full play to the mutually reinforcing effects of new power systems and modern industrial systems.” Xiao Hongwei, director and researcher of the Policy Simulation Laboratory of the Economic Forecasting Department of the National Information Center of the National Development and Reform Commission, said.
According to the CITIC Securities Research Report, massive AIToken demand has opened up room for long-term growth in computing power. Chinese and American companies are simultaneously increasing capital expenditure, and domestic computing power investment still has great potential to increase. At the same time, China's electricity supply and green power cost advantages are outstanding. Direct green power connection and integration of source network load storage are advancing at an accelerated pace, and electricity computation and electricity collaboration is building unique industrial advantages. On the industrial chain side, computing power construction has greatly boosted demand for AI metals such as copper and tin. Under the asset attribute of superimposed computing power, IDCreits continues to broaden funding sources and support industry expansion. The computing power and power-related industry chains have medium- to long-term allocation value.
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China Resources Power (00836): In the first six months of 2026, the cumulative sales volume of attached power plants reached 120 million megawatt-hours, an increase of 12.8% over the previous year. Among them, due to the decline in wind speed, the cumulative sales volume of attached wind farms reached 275.456 million megawatt-hours, a decrease of 3.2% year on year; the cumulative sales volume of attached photovoltaic power plants reached 8.2571 million megawatt-hours, an increase of 42.8% year on year.
Huadian Power International Power Co., Ltd. (01071): As of June 30, 2026, Huadian International Electric Power Co., Ltd. and its subsidiaries had completed a cumulative total of 108 million megawatt-hours of power generation in the first half of 2026 according to the consolidated financial reporting caliber of China's accounting standards, a decrease of about 10.82% from the data for the same period of the previous year, down about 10.82% from the data for the same period last year.
China Electric Power (02380): The Group's total consolidated electricity sales volume in June 2026 was about 11.4637 million megawatt-hours, an increase of 1.45% over the same month last year, while the combined total sales volume for the first six months of 2026 was about 62.0316 million megawatt-hours.
CGN Power (01816): From January to June 2026, the total power generation of nuclear power units operated and managed by the Group was about 117.766 billion kilowatt-hours, down 2.12% from the same period last year. Total commercial feed-in electricity capacity was approximately 109.597 billion kilowatt-hours, down 3.32% from the same period last year.