China has initially established a unified national power market system

On June 28, 2025, the southern regional power market officially commenced continuous settlement trial operation, indicating that the five provinces of the China Southern Grid participated on the same platform with a unified trading methodology. Furthermore, the NDRC passed the Plan for Normalised Power Trading Mechanism Across Power Grid Operating Areas (CHN: 跨电网经营区常态化电力交易机制方案) on July 1, 2025. It means that electricity users are free to participate in cross-grid9 transactions, including medium- and long-term, spot, and green power tradings. The NDRC stated that by the end of 2025, State Grid and China Southern Grid should further unify market rules and transaction varieties to realise the normal opening of cross-grid transactions. So far, China has initially established a unified national power market system according to the NDRC.