CITIC Securities says power–compute coordination is the key infrastructure for high-quality expansion of China’s domestic compute capacity. The National Energy Administration’s guidance targets 800 billion kWh of data-center electricity use by 2030; CITIC projects incremental data-center capacity of 78.5 GW during the 15th Five-Year period, corresponding to about 10.7 trillion yuan in CAPEX. Investment to couple power and compute—covering on‑park and off‑park solutions—is estimated at roughly 2 trillion yuan, with a 15th Five-Year CAGR near 42%, indicating an acceleration phase for related capex.(金十数据)