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China Resources buys Xingtai Power share

(China daily)
Updated: 2007-06-06 10:56

China Resources Power Holdings Co, the third-largest Hong Kong-listed Chinese power generator by market value, will buy 44.7 percent of Xingtai Power Generation Ltd for 530 million yuan.

Xingtai Power operates the coal-powered Xingtai power plant in Hebei Province, North China, and posted a fivefold jump in profit after taxes to 93 million yuan for 2006, China Resources said in a statement to the Hong Kong Stock Exchange late on Monday.