China’s power consumption surges 5.8% in June

China’s electricity consumption in June increased by 5.8 per cent, reaching 820.5 billion kilowatt-hours (kWh), according to official data from the National Energy Administration (NEA). This surge is seen as a positive indicator for the economy.

The growth was fuelled by multiple sectors, with power consumption in primary and secondary industries increasing by 5.4 per cent and 5.5 per cent year-on-year. The tertiary sector saw a significant 7.6 per cent rise in power consumption.

Residential power use also showed a positive trend, with a 5.2 per cent rise compared to June 2023, reaching 116.6 billion kWh.

China’s power consumption for the first half of 2024 has climbed by an impressive 8.1 per cent, reaching nearly 4.66 trillion kWh.

This aligns with the country’s Gross Domestic Product (GDP) growth of five per cent year-on-year, which amounts to about 61.68 trillion yuan ($8.65 trillion) for the first half of the year, as reported by the National Bureau of Statistics (NBS).

Attribution: WAM