The output value of China's power transmission industry is likely to reach 2.2 trillion yuan by 2020 with the localization rate of key parts and components exceeding 80 percent, according to a report by Economics Information Daily on Thursday.
The scale of the country's advanced power equipment industry is likely to reach a scale of 100 million kw annually by 2020 with the localization ratio expected to reach 90 percent, according to the technology roadmap of Made in China 2025. China will formulate fiscal and taxation policies to guide and support industry development, technological upgrades and industrialization of clean and high efficiency power generation equipment while construct national innovation bases for clean and high efficiency power generation technologies, according to a recently publicized regulator-masterminded industrial development roadmap.
Under the roadmap, coal-fired power installed capacity is likely to reach 1.12 billion kw by 2020, accounting for 58 percent of total power installed capacity of the country, while conventional hydropower installed capacity is likely to reach 350 million kw, accounting for 17.5 percent; natural gas-fired power installed capacity likely to reach 120 million kw, accounting for 6 percent, and nuclear power installed capacity of 58 million kw, together with under-construction capacity of 30 million kw, will account for 4 percent as well as wind power, with installed capacity of 200 million kw, will take a share of 10 percent. It is noted that China's power equipment manufacturing industry output topped the world in 2014 with output value exceeding 5 trillion yuan.
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