China's electricity sector has experienced substantial efficiency improvement during the last one and a half decades. The recent literature has mostly attributed the efficiency improvement to the 2002 unbundling reform with little attention paid to the large scale retrofitting process introduced...

In 2003, China's integrated electricity utility – the State Power Corporation (SPC) – was unbundled and dismantled into five generation groups and two grid companies in an effort to increase competition and improve efficiency. In this paper, we study the impact of this deregulation reform on...

In the past three decades, Chinese electricity industry has experienced a series of regulatory reforms serving different purposes at different stages. In 2002, the former vertically integrated electricity utility - the State Power Corporation (SPC) – was divested and the generation sector was...