Corporate reform and restructuring of China largest hydro power enterprise

摘要

China Yangtze Power Co. Ltd (CYPC) has been transferred from the former Gezhouba hydropower plant. It's the largest hydropower company in China. The successful corporate reform and restructuring of this state owned company is presented in detail. It transferred the social functions to the local government. The Company currently has only about 1800 employees. The Company issued 2,326,000,000 ordinary A-shares to the public in the IPO (initial public offering) in November 2003, and got a fund of about 10 billion RMB. And the Company acquired four generating units initially put into operation under Three Gorges Project in 2003. It has established a very good example not only for the electric system but also for all other industries in China.