On December 29, 2002 (November 26, 2002 in the lunar calendar), 11 newly established (reorganized) companies of China Electric Power were unveiled. The inaugural meeting of the newly formed (restructured) China Power Company was held at the Great Hall of the People in Beijing on the morning of December 29, 2002. Zeng Peiyan, member of the Political Bureau of the CPC Central Committee and director of the State Planning Commission, attended the meeting and delivered a speech. Zeng Peiyan said that the 11 newly established (reorganized) companies of China Electric Power were officially announced, separating the plant and network and introducing a competition mechanism. This is an important achievement of my country's power system reform and marks that the power industry has entered a new period of development in the grand cause of establishing a socialist market economic system and accelerating socialist modernization. The newly established power companies include: State Grid Corporation of China, China Southern Power Grid Co., Ltd., China Huaneng Corporation, China Datang Corporation, China Huadian Corporation, China Guodian Corporation, China Power Investment Corporation, China Electric Power Engineering Consulting Group Corporation, China Hydropower Engineering Consulting Group Corporation, China Water Conservancy and Hydropower Construction Corporation and China Gezhouba Group Corporation. Zeng Peiyan said that under the cordial care and correct leadership of the Party Central Committee and the State Council, since March this year, all member units of the Power System Reform Working Group have actively implemented the reform plan approved by the State Council in a highly responsible spirit, and carried out a lot of fruitful work in accordance with their respective division of labor and progress requirements. The State Grid Corporation and China Southern Power Grid Corporation were established, 5 power generation companies and 4 auxiliary industry group companies were formed and reorganized, the State Electricity Regulatory Commission was established, preliminary research and formulation of electricity price reform plans, and in-depth research and exploration were carried out in aspects such as environmental protection discount standards for power generation emissions, and power projects. Administrative approval methods, as well as requirements for the responsibilities of China Electricity Council. This not only completed this year's power reform task, but also laid the foundation for future work. During the reform, all departments and localities worked together and cooperated closely, and the cadres and workers of the State Power Company system took the overall situation into account and fulfilled their duties conscientiously, ensuring the safety of power operation and high-quality services. Zeng Peiyan pointed out that the reform of the power system involves all aspects and is a complex and arduous task. In accordance with the requirements of overall design, step-by-step implementation, active and prudent, and supporting advancement, we must further unify thinking, strengthen leadership, and complete reform tasks in stages. He required that after the establishment of the new company, it should speed up the corporatization and restructuring work in accordance with the requirements of establishing a modern enterprise system, establish a scientific corporate governance structure, optimize the organizational structure, streamline management levels, and improve various management systems to achieve clear property rights, clear rights and responsibilities, separate government and enterprises, and scientifically manage, conscientiously do a good job in connecting the old and new systems, strengthen team building, straighten out working relationships, ensure that personnel and responsibilities are in place, and achieve a smooth transition of the enterprise's production and operation activities. Zeng Peiyan emphasized that next year, we must continue to establish regional power grid companies and power grid companies in various provinces and cities, and further separate the main and auxiliary industries, restructure the "tertiary industry" and diversified business enterprises, and divest them from power grid companies. To further strengthen the management of state-owned assets, we must gradually carry out asset and financial audits for newly established or reorganized companies, and carry out asset verification. Actively and steadily promote the construction of regional power markets, accelerate the establishment of power market trading centers, formulate power market operating rules, construct a power supervision system, implement electricity price reform plans, gradually realize bidding on the Internet, study and formulate environmental protection discount standards for power generation emissions, and carry out pilot projects for power generation companies to directly supply power to large users in areas where conditions permit. Zeng Peiyan said that in the face of the new economic situation, we must correctly handle the relationship between reform, development, and stability. While promoting the reform of the power system, appropriate adjustments will be made to the 10th Five-Year Plan for power and the construction of power grids will be strengthened in accordance with the actual needs of economic development. It is necessary to pay close attention to the preliminary work of power project construction, attach great importance to the construction of key projects such as power transmission from west to east, and ensure the progress and quality of construction. He hoped that the cadres and workers in the power system would continue to carry forward fine traditions, strengthen management, clarify responsibilities, stick to their posts, ensure smooth dispatch orders and safe and stable operation of the power grid, and prevent major power safety accidents. Representatives of the newly formed (reorganized) company also spoke at the conference. Relevant leaders of the Organization Department of the Central Committee, the Central Enterprise Working Committee, the Central Establishment Office, the Ministry of Finance, the Legislative Affairs Office of the State Council, the Economic Reform Office of the State Council, the Ministry of Education, the State Administration for Industry and Commerce, the State Environmental Protection Administration, the State Electricity Regulatory Commission, and the People's Government of Guangdong Province, the main leaders of the newly established (reorganized) company, as well as representatives of relevant domestic units and relevant foreign institutions attended the conference.