The State Grid Corp, China's largest power transmission operator, issued 10-year corporate bonds in the first half of January worth RMB 5 billion (US$604.5 million) to fund the construction of grid networks.
The company also said it would issue corporate bonds to collect up to RMB 8 billion (US$967.3 million) annually in coming years.
More than half of China's territory was affected by electricity shortages in 2003 and the State Grid Corp said the electricity situation would deteriorate further in 2004 with electricity consumption expected to grow by 11% over 2003.
