China’s power ‘supergrid’ gives Xi buffer against energy shocks

China’s long-running effort to build out its energy sources is getting fresh momentum from the war in the Middle East, reinforcing a strategy that’s sent grid operators on a bond-selling binge and funneled hundreds of billions of dollars into the market.

The world’s No. 2 economy has become one of the biggest investors in power grids globally, spending heavily in recent years on infrastructure to absorb more renewables and curb its reliance on imports. Financing that growth has turned...