Two newly-organized groups¡ªthe China Petroleum and Natural Gas Group and the China Petrochemicals Group¡ªare the largest groups of their kind. The latter, whose business income in 1996 was 38.9 billion US dollars, ranks 62nd among the 500 strongest conglomerates in the world.

China's energy industry, including thermal, hydro and nuclear power, has developed rapidly. In the 1990s, China's installed capacity developed from 100 million kw to 200 million kw, and its generated energy and installed capacity both ranked second in the world. There are 58 large hydropower stations, which have been completed or are under construction in China, and 19 of them have more than one million kw of installed capacity each. The Ertan, Xiaolangdi and Yangtze River Three-Gorge hydropower stations, the Lianyungang and Ling'ao nuclear power engineering projects are under construction. The Qinshan Nuclear Power Station in Zhejiang and Dayawan Nuclear Power Station in Guangdong have been completed. The power grids of the country now cover all the cities and most of its rural areas.

Large iron and steel enterprises are distributed in Anshan, Taiyuan, Baotou, Beijing, Shanghai, Tianjin, Wuhan and Panzhihua. China at present has 24 iron and steel enterprises which produce one million tons or more of steel annually each, among them, the Shanghai Baoshan Iron and Steel Group being newly organized. Some large iron and steel enterprises use advanced technologies and have improved their equipment to produce a number of types of high-class steel, such as cold-rolled steel plates, cold-rolled silicon steel sheets, zinc-plated steel plates and steel pipes. Today, China has the capacity to produce 1,400 varieties of steel to more than 20,000 specifications. In addition, China's self-sufficiency in rolled steel has reached 90 percent.

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