The State Grid Corporation of China has outlined plans to boost its annual investment by nearly 20 percent this year to 403.5 billion yuan (US$66.67 billion), China Business News reported Wednesday, citing unidentified sources. The planned increase in investment marks a first for the company, given that it had raised its investments by 1-4 percent annually in the past, the paper noted. The firm’s planned investment last year was 318.2 billion yuan but the actual spending amounted to 337.9 billion yuan. The huge increase in investment this year is expected to benefit equipment suppliers.
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