On July 14th, it was learned that the China Electricity Council (hereinafter referred to as "CEC") recently released the "Annual Development Report of China's Power Industry 2024". Data shows that in 2023, China's electricity will account for 28.1% of terminal energy consumption, higher than developed countries such as the United States, the United Kingdom, and Germany, and overall ranking among the top in the world. Electricity consumption is an important "barometer" of economic operation. In recent years, China's electricity demand has maintained rigid growth. In 2023, the total electricity consumption of the society will reach 9.22 trillion kilowatt hours, accounting for approximately 33% of the global electricity consumption. Since the 14th Five Year Plan, China's annual average new electricity consumption has been about 570 billion kilowatt hours, equivalent to Germany's annual electricity consumption level. China's electricity consumption structure continues to optimize. In the secondary industry, the electricity consumption of high-tech and equipment manufacturing industry will increase by 11.2% year-on-year in 2023, exceeding the overall growth level of the manufacturing industry by 3.8 percentage points. Among them, the electricity consumption for photovoltaic equipment manufacturing increased by 76.0% year-on-year, the electricity consumption for new energy vehicle manufacturing increased by 38.8% year-on-year, and the electricity consumption for charging and swapping services increased by 78.1% year-on-year. The strong growth momentum of electricity consumption in emerging industries reflects the good growth trend of China's manufacturing production, and the industrial structure is being optimized and upgraded towards high technology and high added value. Zhang Lin, Director of the Planning and Development Department of China Electricity Council, said that with the acceleration of energy green and low-carbon transformation, the trend of electrification of terminal energy consumption will become more apparent. It is expected that by 2030, the proportion of electricity consumption in terminal energy in China is expected to reach 35%. Zhang Lin introduced that in order to further improve the level of electrification of terminal energy consumption, China Electricity Council will continue to promote three aspects of work. One is to optimize the development path of electrification in key areas and accelerate the process of electrification in industries, construction, transportation, agriculture, and rural areas. The second is to improve the market mechanism and business model of terminal energy electrification, support the substitution of electricity for users to participate in the electricity market, conduct direct electricity transactions with power generation enterprises, increase user choice, and control electricity costs within a reasonable range. The third is to better coordinate the guarantee of power supply and green transformation, and achieve high-level coordination between power supply and demand. (New Society)