Image Credits - China Daily
China’s electricity consumption, a critical indicator of economic activity, surged in June, showcasing the nation’s ongoing economic recovery and growth. According to official data released on Friday by the National Energy Administration (NEA), power usage climbed by 5.8 per cent year-on-year, reaching 820.5 billion kilowatt-hours last month. This robust expansion signals a strong rebound fueled by policy incentives, increased external demand, and the development of new quality productive forces.
The NEA’s data reveals that power consumption by the primary and secondary industries rose by 5.4 per cent and 5.5 per cent year-on-year, respectively, while the tertiary sector saw an impressive 7.6 per cent increase. Residential power use also registered a notable growth of 5.2 per cent compared to the same period last year, hitting 116.6 billion kilowatt-hours.
In the first half of the year, China’s total power consumption soared by 8.1 per cent, nearly reaching 4.66 trillion kilowatt-hours. This significant increase in energy usage aligns with the country’s overall economic performance. Data from the National Bureau of Statistics (NBS) showed that China’s gross domestic product (GDP) grew by 5 per cent year-on-year, amounting to approximately 61.68 trillion yuan (US$8.65 trillion) in the first half of 2024.
An NBS spokesperson highlighted that “the national economy has continued to improve in the first half stably,” attributing the growth to policy support, a rebound in external demand, and the emergence of new productive forces. Additionally, the value-added industrial output, another key economic indicator, expanded by 5.3 per cent year-on-year in June.
These figures underscore the resilience and dynamism of China’s economy, marking a positive trajectory amidst global economic uncertainties.