The "Electricity Index" reflects the acceleration of economic transformation and upgrading
2023-06-06
Since the second quarter, the electricity load in multiple regions has reached its peak, the electricity consumption in high-tech manufacturing has significantly increased, and the demand for electricity consumption in service industries has been strong... Electricity is an important window for observing the economy. The 'electricity index', represented by data such as electricity load and consumption, is conveying a positive signal of China's accelerated economic transformation and upgrading, and overall stability and improvement. Multiple data reflect the trend of economic operation, and electricity consumption is a barometer of economic operation. According to data from the National Energy Administration, in the first four months of this year, China's total social electricity consumption reached 2810.3 billion kilowatt hours, a year-on-year increase of 4.7%. Meanwhile, in April, the overall social electricity consumption in 29 regions achieved positive growth, with a growth rate of over 10% in 12 regions. Zhang Jianhong, Executive Director of the Environmental Technology and Economics Branch of the China Society of Technology and Economics, stated that in recent times, the growth rate of electricity consumption in the whole society has further increased. In addition to the low base factor last year, more importantly, it is driven by the overall improvement of the economic situation and the gradual increase in temperature. The data indicates that the economic operation has stabilized and the pace of recovery has accelerated. Entering May, the demand for electricity in various regions has further increased, with many regions reaching new highs in electricity load since the beginning of this year at the end of May, and even some regions breaking through the peak electricity load of the same period in history. For example, the electricity load of Jiangsu Power Grid exceeded 100 million kilowatt hours on May 29th, marking the first time in the history of Jiangsu Power Grid that the load exceeded 100 million in May, 19 days earlier than last summer. Expert analysis shows that in addition to temperature factors, a positive economic recovery is also an important factor for Jiangsu's load to exceed 100 million ahead of schedule. The overall rebound in macroeconomic operation this year will promote the growth of electricity consumption demand. The relevant person in charge of the China Electricity Enterprise Federation predicts that the growth rate of electricity consumption will significantly rebound in the second quarter, with the growth rate of electricity consumption in the whole society being around 6% for the whole year. The changes in electricity consumption structure reflect the accelerated development of high-tech manufacturing industry. Observing the "electricity index", the changes in electricity consumption structure reflect the accelerated transformation and upgrading of industrial economy, and the rapid development of high-tech manufacturing industry. Taking Shenzhen as an example, as of May 29th this year, the total social electricity consumption in Shenzhen reached 37.494 billion kilowatt hours, a year-on-year increase of 3.7%. In the field of production and manufacturing, the electricity consumption in the photovoltaic equipment and component manufacturing industry increased by 32.3% year-on-year, the electricity consumption in the new energy vehicle manufacturing industry increased by 10.3% year-on-year, and the electricity consumption in the computer manufacturing industry increased by 4.4% year-on-year. In Hainan, due to various factors such as sustained economic recovery, production of key industrial projects, and rising charging loads of electric vehicles, the peak electricity consumption has arrived ahead of schedule. Since the beginning of this year, the unified load regulation of Hainan Power Grid has reached new highs multiple times. This is basically consistent with the development trend of China's manufacturing industry. According to data from the National Bureau of Statistics, the PMI of the equipment manufacturing industry in May is still above the critical point, and PMI data reflecting advantageous industries such as electrical and mechanical equipment and new energy vehicles continue to maintain a high level of momentum. Under the dual superposition of policies and economic recovery, the acceleration button for industrial transformation and upgrading has been pressed, and the output value of high-tech manufacturing in multiple regions has achieved rapid growth, becoming an important driving force for driving industrial economic growth. Yin Pengfei, Chief Theme Researcher of Donghi Technology, said that it is expected that the growth rate of electricity consumption in high-tech and equipment manufacturing industries will continue to maintain a rebound trend in the second quarter. Service industry electricity
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Shanghai Securities Daily
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