BUSINESS China’s daily power generation hit new highs in July, reflects recovery of national economy

BUSINESS

China’s daily power generation hit new highs in July, reflects recovery of national economy

People's Daily Online

16:46, August 21, 2020

China’s daily power generation has hit new highs in July. As urbanization continues to improve and financial enterprises keep supporting the real economy, the national economy recovered steadily in July.

(Photo/Xinhua)

Social electricity consumption is regarded as an economic barometer. From the recent data released, social electricity generation and electricity consumption are both growing positively.

In terms of power generation, industrial power generation at and above the national scale increased by 1.9 percent in July compared with the same period last year. Among them, hydropower, nuclear power and wind power generations increased by 6.1 percent, 6.7 percent and 23.2 percent respectively over the same period last year.

Referring to electricity consumption, in July the electricity consumption of the whole society increased by 2.3 percent compared with the same period last year. Among them, the electricity consumption of the primary, tertiary and residential industries increased by 11.6 percent, 5.3 percent and 13.8 percent respectively compared with the same period last year.

The electricity consumption of the secondary industry decreased by 0.7 percent compared with the same period last year, mainly due to a decline in the growth rate of electricity consumption in high energy-consuming industries such as electricity, building materials, iron and steel.

In the manufacturing industry, the electricity consumption of the automobile manufacturing industry increased by 20.3 percent compared with the same period last year, and electricity consumption of the furniture manufacturing industry, computer communications and other electronic equipment manufacturing industry, general equipment manufacturing industry, electrical machinery and equipment manufacturing industry, and food manufacturing industry all grew by more than double digits.

From a regional point of view, electricity consumption is growing in 20 provinces across the country, including Sichuan, Jiangxi, Guangxi, Guangdong, Tibet, Fujian, Inner Mongolia and Yunnan, with a growth rate of more than 10 percent.

Preliminary analysis shows that daily power generation across the country is reaching new highs, which is not only a result from the continuous high temperatures and the need for air conditioning, but also reflects the continued steady recovery of the national economy, Meng Wei, spokesman for the National Development and Reform Commission said.

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