China's softening growth slows power use
Updated: 2014-03-21 09:56
(Xinhua)
|
|||||||||||
BEIJING - China's power consumption slowed in the first two months of 2014 in a further sign of dampening in the world's second-largest economy, official data showed on Thursday.
Electricity consumption, an indicator of economic activity, rose 4.5 percent year on year in the first two months, according to data released by the National Energy Administration (NEA).
State Grid gets Australian permit for investment
|
|
The slowdown was mainly attributed to sluggish industrial power use, which accounted for around 70 percent of the country's total consumption, especially high energy-consuming industries like iron and steel, cement and petrochemicals.
The shrinking need for power could be seen in manufacturing and metallurgical sectors, which struggled in the first two months amid an overall industrial slump and seasonal downturn, said Dai Bing, analyst from online e-commerce platform 315.com.
In January and February, electricity use by primary industry totaled 11.3 billion kWh, down 7.8 percent year on year. Power consumption by secondary industry reached 582 billion kWh, up 4.3 percent, while that by tertiary industry gained 5 percent to reach 109.4 billion kWh.
According to statistics authorities data, an array of economic indicators for the Jan-Feb period showed a feeble increase in their respective sectors, including industrial added value and fixed asset investment.
"The weak readings resulted from the government's top-down actions of eliminating outdated industrial capacity since the last quarter of 2013, partly prompted by concerns over worsening smog," said Wang Jun, researcher at the China Center for International Economic Exchanges.
Analysts expect the strict control over sectors with high energy use and overcapacity to continue, slashing electricity consumption in those fields.
Related Stories
China's electric network of future on drawing board 2014-02-26 08:46
China's power capacity up 94m kw in 2013 2014-02-11 09:35
China's electricity firms report profit surge 2014-01-17 14:00
Power companies generate big 2013 profits 2014-01-16 17:26
China's power consumption up 7.5% in 2013 2014-01-14 15:06
China's Jan-Nov power use rises 7.5% 2013-12-18 09:06
Today's Top News
Australia to resume ocean search for missing jet
Michelle Obama starts landmark trip
Russia starts sanction against US
China opens more maritime space for development
Germany to inquire into US syping
Experts warn as yuan dips further
Hotline helps smokers 'start quitting'
Australia finds possible debris from MH370
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Naturists on the path to acceptance |
Missing plane puzzle remains unsolved |
Modern merchants follow Silk Road |
Doubts linger over warning system for smog |
Is civil service losing luster? |
Special coverage on missing jet |