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The State Council approved the combination of China Xidian Group, Xuji Group, Pinggao Group and Shaanxi Baoguang Vacuum Electronic Apparatus to establish a new central government-owned enterprise, China Power Equipment Group. The new company will be registered in Xiong'an and headquartered in Shanghai.
Three unlisted units of State Grid (Xuji Group, Ping Gao Group, Shandong Electrical Engineering and Equipment Group) will merge with China XD Group to create an electrical equipment company with combined assets over CNY 100 billion.