State Grid’s RMB 4 trn capex sparks a mid-session green-power rally — Global X China Clean Energy (02809.HK) finishes the day firmly on the front foot!

NewSpace — Jan 19: State Grid’s capex for the 15th Five-Year period is set to hit RMB 4 trn, 40% above the 14th Five-Year total, with the bulk earmarked for new-type power systems, ultra-high-voltage DC corridors, urban-rural distribution upgrades and digital infrastructure—underscoring a long-horizon bet on a green, smart grid.

The news kept Global X China Clean Energy (02809.HK) underpinned all session; the ETF has now rallied >40% over the past six months.

HKEX data show the fund—managed by Mirae Asset Global Inv. (HK)—tracks the Solactive China Clean Energy Index NTR, a one-ticker basket of 35 A-share clean-energy leaders worth ~RMB 2.6 trn in aggregate. The index spans solar, wind, hydro, nuclear, storage, inverters and grid gear, and applies a “pure-play + liquidity” dual screen: constituents must sit in FactSet’s Level-6 clean-energy sub-sector, post ≥HKD 20 m average daily turnover over six months, and carry no heavy leverage or polluting assets. Latest holdings put the top-10 names—North Huachang, Yangtze Power, Sungrow, Sieyuan, LONGi, etc.—at ~60% combined weight.

Policy support for storage is also intensifying. Four central ministries have directed government investment funds towards storage and new-energy industries, while Jiangxi province targets >1 GW of virtual-plant response capacity by 2027 and will roll out pilot projects.

Soochow Securities (Strategy Report dated 14 Dec 2025) argues that domestic large-scale storage demand is beating forecasts, turbo-charged by U.S. IRA-driven installation rushes and break-out demand in Europe and the Middle East. The broker expects global storage additions to top +60% in 2026 and sees a 30-50% CAGR over the next three years.

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