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China’s Two Largest Power Grid Firms Issue Record $131 Billion in 2025 Bonds

China’s Two Largest Power Grid Firms Issue Record $131 Billion in 2025 Bonds

The brief report says bond issuance more than doubled from 2024, with State Grid accounting for $110 billion of the total.

Fact Check
The claim is accurately supported by multiple financial and industry news reports from March 2026. These reports cite Bloomberg-compiled data showing that State Grid and China Southern Power Grid issued a record 901 billion yuan (approx. $131.4 billion) in bonds in 2025. The breakdown of State Grid accounting for approximately $110 billion and the total doubling from 2024 is consistent with the reported surge in 'supergrid' investment.
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Terms & Concepts
  • Bond issuance: The process of raising capital by selling debt securities to investors, who are repaid over time with interest.
  • Power grid: The network that transmits and distributes electricity from generators to homes, businesses, and industry.