In order to achieve the goals of reliability, safety, economy, and efficiency of the power grid, as well as sustainable green development of the economy and society, China formulated the Smart Grid Development Plan in July 2009. According to the plan, by 2020, China will comprehensively build a unified "strong smart grid".

As one of the key terminal products in the construction of smart grids, smart meters and electricity information collection systems play an important supporting role in achieving informationization, automation, and intelligence of the power grid. In recent years, the technological progress and rapid development of the power industry and smart grid have driven the prosperity of China's electricity metering market. As the main product of electrical instruments and meters in China, the production of smart meters has always been at a high level, and representative enterprises such as Weisheng Group, Linyang Energy, Ningbo Samsung Medical Electric, Yantai Dongfang Weisiton Electric, and Haixing Electric have emerged, demonstrating strong competitive strength in recent years' State Grid bidding.

With the rapid growth of domestic investment in smart grids, it is expected that during the 13th Five Year Plan period, China will have an additional demand for 460 million smart meters, and businesses will continue to benefit in the near future.

However, with the basic completion of the replacement of smart meters by State Grid and Southern Power Grid, the increment of China's smart meter industry market is gradually shrinking, and as a result, the competition among electric meter enterprises is further intensifying, entering a stage. In the second electricity meter bidding of State Grid Corporation of China in 2018, 18 companies that continuously won the bid showed varying degrees of improvement in their rankings, while 25 companies showed varying degrees of decline in their rankings, indicating fierce competition among electricity meter companies.