Qinghai, Fujian launch first cross-provincial green power trade
The power grids in China’s Qinghai and Fujian provinces have started their first-ever cross-provincial trading of electricity, marking a new step in the country’s green power transmission efforts, state media Xinhua reported. Under the deal, Qinghai will transmit 35 million kilowatt-hours of green electricity to Fujian over a 31-day trading cycle beginning May 1. The transaction was coordinated by the Beijing Power Trading Center, with participation from 24 power generation companies in Qinghai and nine electricity sellers in Fujian.
Geely’s core profit rises on export boom
Geely Automobile Holdings Ltd. reported a 15% year-on-year revenue increase to 83.78 billion yuan ($12.3 billion) in the first quarter of 2026. Core net profit attributable to shareholders rose 31% to 4.56 billion yuan after excluding non-operational factors such as foreign exchange losses. The automaker attributed the performance to the strong overseas sales and the rising popularity of its premium models. Its first-quarter vehicle sales rose 1% year-on-year to 709,000 units, with exports surging 126% to 203,000 units. Sales of its premium electric-vehicle brand Zeekr increased 86% to 77,000 units, with an average selling price of about 300,000 yuan.
Nuclear power prices fall as market trading expands
Chinese nuclear power generators are facing downward pressure on electricity prices as a growing share of their output is sold through market-based trading. China National Nuclear Power Co. Ltd. reported that its market-traded electricity reached 134.05 billion kilowatt-hours in 2025, accounting for 71.36% of its total grid-connected power, up 20.58 percentage points from the previous year. Consequently, its comprehensive electricity price fell 5.16% to 0.3937 yuan per kilowatt-hour. Similarly, CGN Power Co. Ltd. reported that its market-traded electricity accounted for 56.2% of its total grid-connected power in 2025, up 5.3 percentage points year-on-year, with the average market price dropping 8.7% year-on-year to 0.3531 yuan per kilowatt-hour.
China launches first green power project for computing
China’s first project designed to directly supply green electricity to data centers began operations on May 2 in Zhongwei, Ningxia Hui autonomous region. The 500-megawatt solar power project, developed by China Datang Corp. Ltd., will generate 970 million kilowatt-hours of electricity annually to supply the Zhongwei cloud computing base. The project is part of a larger 8.7 billion yuan initiative that includes an additional 1.5 gigawatts of wind power project currently under construction. Once fully completed by the end of the year, the integrated renewable energy system will provide 4.3 billion kilowatt-hours of green electricity annually to meet the first-phase energy demand of the cloud computing hub.
