Subsidiaries owned by China XD Group and State Grid Corp of China reorganize

The State Council approved the reorganization and integration of a number of subsidiaries owned by Xi'an-based China XD Group Corp and Beijing-headquartered State Grid Corp of China - two centrally-administered State-owned enterprises, China XD Electric Co Ltd, a subsidiary of China XD Group Corp and a Shanghai Stock Exchange-listed company announced in a notice on late Tuesday.

The new company will become a new State-owned group under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council.

The subsidiaries of China XD Group Corp and State Grid Corp of China involved in this reorganization move include Shandong Electrical Engineering & Equipment Group Co Ltd and Henan-province based Pinggao Group Co Ltd.