China Power to compete in Hong Kong

Chinese state-owned electricity producer China Power International Holdings plans to compete with Hong Kong electricity providers, CLP Holdings and Hongkong Electric. Analysts said China Power, with joint venture partners China Southern Power Grid and Vertex Communications & Technology, would first have to secure grid access controlled by their rivals if the plan is to work. There appears to be no legal obligation for rival companies to provide access. China Power holds a 50% stake while China Southern holds 35% with Vertex holding 15%.