Power company changes name for public listing

State-owned China Guangdong Nuclear Power Group changed its name on Wednesday to pave the way for a public listing.

The Shenzhen-based company was renamed China General Nuclear Power Group, or CGN, to eliminate the impression of a local entity.

"The new name can better meet the demands of the group's future development, not only in nuclear power stations, but uranium resources, clean power and new business," CGN spokesman Hu Guangyao said at a news conference.

The company aims to be a world top five clean power group by 2015 with annual revenue of 65 billion yuan ($10.47 billion), and enter the top three by 2020 with annual revenue of 300 billion yuan, according to Hu.

He said the group has a public listing on the agenda but no timetable has been released.