China Adds 878 Power Retailers as NEA Moves to Tighten Retail Market Rules

The churn in China's power retail sector — 878 entries against 374 exits — signals a market still in a consolidation-and-cleanup phase rather than one that has settled. The NEA's push to standardize rules matters because retail licensing is the commercial layer through which power trading, and potentially any tokenized or RWA-linked energy contracts, would reach end users. The exits of dormant and rule-breaking firms suggest regulators are prioritizing compliance over volume growth. Whether the pace of new entrants holds as standards tighten, and whether profitability survives that tightening, is the open question worth watching.