Recently, the Ministry of Industry and Information Technology, the State Administration for Market Regulation, and the National Energy Administration jointly issued the Work Plan for Stabilizing Growth in the Power Equipment Industry (2025—2026) (hereinafter referred to as the "Plan"). It proposes that by 2026, the average annual revenue growth rate of China's traditional power equipment will remain around 6%, while the revenue of new energy equipment will maintain steady growth. It also strives for an average annual revenue growth rate of around 7% for national advanced manufacturing clusters in the power equipment field from 2025 to 2026, promoting the research breakthrough and promotion of a number of landmark equipment.

Experts point out that power equipment is the core foundation for energy supply and conversion, and its development level is directly related to national energy security and economic and social stability. With China's rapid economic development and enhanced global awareness of green transformation, the power equipment industry has huge market demand and favorable conditions for stable growth. The series of goals proposed in the Plan take into account both the industry's realistic foundation and future development potential, helping to guide enterprises in rational production and investment planning, ensuring the power equipment industry maintains stable growth during transformation and upgrading, and providing solid support for China's energy supply.

"All data is normal—our voltage has remained stable during this National Day and Mid-Autumn Festival holiday." At a power guarantee duty station in Jiuxian Town, Taihe County, Anhui Province, Zhao Xiuyu, deputy director of Jiuxian Town Power Supply Institute of State Grid Fuyang Power Supply Company, closely monitored the real-time load curve on the screen. Different from previous years, a 60-kilowatt-hour mobile energy storage device became the most capable intelligent "comrade-in-arms" for him and his colleagues, ensuring electricity for residents' daily life and agricultural production. "In the past, during holidays, the peak of residential electricity consumption combined with agricultural production made the problem of low terminal voltage particularly prominent. Thanks to the precise regulation capability of this energy storage equipment, our power guarantee model has shifted from 'passive emergency repair' to 'proactive defense'," Zhao Xiuyu said. Advanced power equipment not only guarantees voltage quality but also greatly reduces the power supply pressure on transformers.

Currently, the global energy pattern is undergoing profound changes, and high-quality and efficient power equipment has become the core driving force for promoting green and low-carbon transformation, ensuring safe and reliable energy supply, and advancing high-quality economic and social development.

During the 14th Five-Year Plan period, the independent innovation capabilities of China's power equipment manufacturing industry chain have continued to improve, and the construction of smart grids has advanced steadily. UHVDC converter valves have achieved independent innovation; the scale of the "three renovations in one" (energy-saving renovation, heating renovation, and flexibility renovation) of coal-fired power units has exceeded 500 million kilowatts, and ultra-supercritical coal-fired power generation technology has reached the international leading level; the world's largest single-unit capacity Baihetan 10-million-kilowatt hydropower units have been completed; the third-generation nuclear power units "Hualong One" and "Guohe One" have been mass-applied, and the fourth-generation high-temperature gas-cooled reactor nuclear power has realized commercial operation; the mass production efficiency of photovoltaic N-type batteries has exceeded 27%, and the world's largest 26-megawatt offshore wind turbine has been successfully hoisted. Power equipment has become an advantageous field of China's manufacturing industry, with continuously improving supply capacity that basically meets domestic demand.

"Although the level of scientific and technological innovation in China's power equipment has been greatly improved, problems such as decentralized, homogenized, and fragmented research are prominent, and some key core technologies are still constrained by others," Yu Chongde, full-time vice chairman of the China Electricity Council, said. It is necessary to give play to the advantages of the new national system, improve the overall efficiency of the innovation system, and increase high-quality supply. Actively carry out the chain co-construction action of the power equipment industry chain, give play to the leading role of key clusters and chain masters, drive collaborative innovation of upstream and downstream enterprises through demand traction, strengthen the precise connection between the demand side and the supply side, and enhance the safety, resilience, and core competitiveness of the power equipment industry chain.

To respond to the new situation and solve new problems, compared with the first round of stable growth work for power equipment, this round of the Plan pays more attention to precise efforts and systematic coordination, taking "demand-driven, quality-oriented, structural optimization, and safe and controllable" as the core considerations.

In the context of downward pressure on domestic demand in some areas, the Plan proposes new growth points. On the demand side, it clearly states that accelerating the construction of projects such as "desert, Gobi, and desert" new energy bases, integrated wind-solar-hydrogen bases, and UHV power transmission channels. At the same time, support a number of key core product innovation projects in fields such as new energy and smart grid equipment through special programs to ensure equipment supply capacity and achieve precise connection between the demand side and the supply side.

In Yu Chongde's view, it is necessary to focus on the major needs and key directions of national energy transformation, target the commanding heights of future science and technology and industrial development, and accelerate the pace of scientific and technological innovation in fields such as flexible DC transmission, low-frequency AC transmission, digital twin power grids, microgrids, virtual power plants, new power generation technologies, and long-duration energy storage, so as to cultivate and develop emerging industries and future industries.

In strengthening the coordination between the domestic and international markets, the Plan proposes to guarantee domestic demand through a number of major energy projects such as hydropower, thermal power, wind power, solar power, nuclear power, and UHV; at the same time, actively participate in the global green and low-carbon energy transformation, give play to the role of bilateral and multilateral cooperation mechanisms, deepen the whole-industry chain cooperation with emerging market countries in fields such as wind power, solar power, and energy storage, and expand the overseas market for power equipment.

The Plan further strengthens the combination of economic growth and industrial upgrading, and more prominently promotes the reasonable growth of quantity through the effective improvement of quality. It clearly states that continuously improving the standard system in the power equipment field, and driving the quality improvement and equipment renewal of power equipment such as wires and cables, transformers, and motors through standard upgrading.

"We should actively use new technologies to transform and upgrade traditional industries, and promote the high-end, intelligent, and green development of power equipment manufacturing. Fully empower through scientific and technological innovation to achieve the upgrading of the industrial chain and value chain," Yu Chongde said.

In recent years, the global green and low-carbon transformation of the energy structure has accelerated, and China is speeding up the construction of a new power system. Combining the current problems facing the power equipment industry, the Plan proposes a series of work measures.

On the supply side, it focuses on improving supply capacity. On the one hand, coordinate the implementation of the industrial foundation reconstruction project and the major technical equipment research project, break through a number of landmark equipment, and further improve the supply level of power equipment. On the other hand, promote the in-depth integration of the new generation of information technology with power equipment, accelerate the green transformation and upgrading of equipment, and create new demand through high-quality supply.

The progress and application of digital technology are opening up new space for the power equipment market. Intelligent inspection robots shuttle accurately along the established routes, and operation and maintenance personnel realize "cloud-based management and control" of the two channels of Xindong DC and Jinzhong DC through the remote intelligent monitoring system... At the converter station of China Southern Power Grid Ultra-High Voltage Company Dali Bureau, a number of scientific and technological equipment are guarding the "West-East Power Transmission" artery around the clock with wisdom. "Dali Bureau is responsible for continuously transmitting clean energy from the Lancang River and Jinsha River basins to the Guangdong-Hong Kong-Macao Greater Bay Area and central Guangxi. Scientific and technological equipment is the confidence to ensure the safe, efficient, and green operation of the 'West-East Power Transmission' channel," Gao Yujie, person in charge of the Production Technology Department of China Southern Power Grid Ultra-High Voltage Company Dali Bureau, said.

On the demand side, the Plan clearly states that relying on major engineering projects to stabilize the demand for power equipment. Steadily promote the construction of new energy bases, continue to implement the "three renovations in one" of coal-fired power, and promote the construction of hydropower projects and coastal nuclear power. Guide enterprises to layout in an orderly manner, expand emerging markets, and broaden overseas market channels for power equipment.

The high-quality development of the industry is inseparable from a good industrial ecosystem. The Plan proposes to give play to the role of the first set of policy systems and accelerate the promotion and application of innovative products. Drive the quality improvement and large-scale equipment renewal of equipment through standard upgrading. Support the development of advanced manufacturing clusters, give play to the leading role of key clusters and chain masters, and cultivate high-quality small and medium-sized enterprises and characteristic industrial clusters.

Guo Yan, deputy director of the Industry Development Department of the China Electrical Equipment Industry Association, said that the power equipment industry is actively embracing high-end, intelligent, and green transformation. The technical level in fields such as clean and efficient power generation equipment and UHV AC/DC power transmission and transformation complete sets of equipment will continue to lead the world, supporting China's leading position in the global energy equipment pattern. (Reporter: Wang Yichen)