EB SECURITIES has released a research report stating that in March 2026, the Government Work Report for the first time included "computing-power coordination" as a national strategy, prioritizing it as a key new infrastructure project.

Computing-power coordination involves the deep integration of computing networks with the new power system. It leverages technologies such as local consumption of green power, flexible peak shaving via virtual power plants, and intelligent cross-regional migration of computing power. Combined with integrated source-grid-load-storage systems and smart scheduling, it guides computing loads to migrate towards areas rich in green power, with low electricity prices, and having surplus grid capacity. The focus is on three key dimensions: green power supply, smart scheduling, and computing power migration.

The main viewpoints of EB SECURITIES are as follows:

**"Computing-Power Coordination" Becomes a National Strategy, Prioritized as New Infrastructure**

In the initial year of the 14th Five-Year Plan, national policy formally introduced the "East Data, West Computing" strategy, prompting industry attention to the energy supply challenges associated with data center relocation to western regions. At that time, computing power and power planning remained relatively independent.

By the end of 2023, the "Implementation Opinions on Deepening the 'East Data, West Computing' Project to Accelerate the Construction of a Nationally Integrated Computing Power Network" first proposed "computing-power and electricity coordination" at the national policy level.

In 2024, the "Action Plan for Green and Low-Carbon Development of Data Centers" was issued, explicitly outlining tasks such as the proportion of green electricity in new data centers within national hub nodes.

In March 2026, the Government Work Report for the first time incorporated "computing-power coordination" into the national strategy, emphasizing its advancement as a key new infrastructure project.

**Computing-Power Coordination Defined as Deep Synergy Based on New Power System and Integrated Computing Network**

Computing-power coordination refers to a deep, comprehensive synergy between the power system and computing infrastructure, built upon the foundational platforms of the new power system and the nationally integrated computing power network. This synergy spans all stages including planning, construction, operational dispatch, market transactions, and technological innovation, achieved through technological innovation, institutional reforms, and industrial integration.

The functional architecture of computing-power coordination essentially serves as the core support system driving the deep embedding of computing networks and the power system.

**Focus on Three Dimensions: Green Power Supply, Smart Scheduling, and Computing Power Migration**

Computing-power coordination facilitates the deep linkage between computing networks and the new power system. It relies on technologies for local green power consumption, flexible peak regulation via virtual power plants, and intelligent cross-regional migration of computing tasks. Integrated with source-grid-load-storage systems and smart scheduling, it guides computing loads to areas abundant in green power, with low electricity prices, and surplus grid capacity.

(1) Green Power Supply: Under computing-power coordination, data center electricity transactions will be primarily based on clean energy, requiring grid backup support. The green premium in China is gradually becoming apparent and is expected to increase further with reforms in the electricity market and improvements in carbon market policies.

(2) Smart Scheduling: Emphasis should be placed on technologies such as virtual power plants, integrated energy services, and SST (presumably referring to relevant smart grid/scheduling technologies). Application scenarios for computing-power coordination are expected to accelerate their commercialization.

(3) Computing Power Migration: This essentially involves distributing workloads to different computing nodes based on electricity prices and task characteristics. It entails migrating high-energy-consumption, non-real-time tasks from eastern regions with high electricity prices and scarce green power to western hub nodes with ample green power and low prices. This achieves "computing follows electricity" and off-peak operation, which can reduce costs and carbon emissions while improving the utilization efficiency of both power and computing resources.

**Risk Analysis**

Risks include potential delays in policy implementation, slower-than-expected progress in new energy construction, unforeseen challenges in AI development, and slower-than-anticipated advancement of new technologies.