China’s electricity consumption, a useful alternative indicator of the country’s economic development, grew at a slower pace in the first 11 months of last year.
That’s stirred concerns about the real state of China’s economy.
But it’s not all bad news. Growth in power output from cleaner energy sources such as hydropower and wind outpaced more polluting ones like coal and natural gas, perhaps reflecting efforts to curb environmental pollution.
China consumed a record 6,514 terawatt hours (TWh) of electricity for the year through November, up 4.5% on the same period in 2018. But the growth rate slowed markedly from 8.5% in the first 11 months of 2018.
The growth rate for power consumption by industry dropped by more than half.
According to official figures, China’s GDP growth slowed to 6.2% in the first three quarters of 2019, down from 6.7% in the same period the previous year.
Read the full story later today on Caixin Global.
Contact reporter Lu Yutong (yutonglu@caixin.com)
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