"Upward, New, and Green" Electricity Data Reflects Economic Potential
2024-03-27
The electricity consumption of the whole society increased by 11% year-on-year, showing a rapid growth trend overall; The electricity consumption of multiple strategic emerging industries in the five southern provinces and regions has shown double-digit growth, with a year-on-year growth rate of 62% in the charging and swapping service industry related to green consumption; The installed capacity of solar and wind power in China increased by 56.9% and 21.3% year-on-year, respectively... In the first two months of this year, a series of electricity data showed a trend of "upward, new, and green", and China's economic growth is accelerating the release of new potential. The China Singapore Guangzhou Knowledge City, located in Huangpu District, Guangzhou, is dotted with high-tech industrial parks such as semiconductors and biopharmaceuticals, with major laboratories and research and development platforms competing to catch up. "Since the beginning of this year, the electricity load of China Singapore Guangzhou Knowledge City has continued to rise, with electricity consumption increasing by 52.6% from January to February compared to last year." Chen Yiying, the data management department of the customer service center of Guangdong Guangzhou Power Supply Bureau of Southern Power Grid, said that the electricity consumption growth rate of the new energy vehicle industry cluster represented by Xiaopeng Automobile reached 68.5%, the electricity consumption growth rate of the biopharmaceutical industry cluster represented by BeiGene, Nuocheng Jianhua, Kangfang Biotechnology, etc. reached 40.2%, and the electricity consumption growth rate of the integrated circuit industry cluster represented by Yuexin Semiconductor Technology Co., Ltd. and others was 28.1%. Electricity data is a barometer and wind vane that reflects economic operations. This year is a crucial year for achieving the goals and tasks of the 14th Five Year Plan. Multiple regions have launched a series of initiatives to promote consumption, vigorously promoting production, and overall electricity consumption has shown a rapid growth trend. According to data from the National Energy Administration, the total electricity consumption in China from January to February this year was 1.53 trillion kilowatt hours, a year-on-year increase of 11%. From the perspective of electricity consumption by industry, the electricity consumption of the primary industry, secondary industry, tertiary industry, and urban and rural residents increased by 11.1%, 9.7%, 15.7%, and 10.5% year-on-year, respectively. On March 26th, Yang Kun, Executive Vice Chairman of the China Electricity Council (hereinafter referred to as the "China Electricity Council"), stated at the 2024 Economic Situation and Power Development Analysis and Prediction Conference (hereinafter referred to as the "Prediction Conference") that China's economy will continue to rebound and improve, and the national power supply and demand will continue to maintain a tight balance in 2024. With the comprehensive promotion of modernization construction, the demand for electricity will continue to maintain a rigid growth in the coming period. It is worth noting that emerging industries have become new engines of electricity growth. Taking Guangdong, Guangxi, Yunnan, Guizhou, Hainan and other five provinces and regions as examples, the electricity consumption growth rate of high-tech and equipment manufacturing industry reached 16.9% from January to February, which is 8.8 percentage points higher than that of high energy carrying industries. Among them, major industries covering strategic emerging industries such as specialized equipment manufacturing, automotive manufacturing, electrical machinery and equipment manufacturing, computer communication, and electronic equipment manufacturing have all seen double-digit growth in electricity consumption. Driven by new scenarios, new formats, and new models, green consumption is also becoming increasingly popular. For example, from January to February, the electricity consumption of the charging and swapping service industry in the five provinces and regions increased by 62% year-on-year. The quality of electricity production has also become greener, and the generation of clean energy is gradually increasing. From the slowly rotating wind turbine blades on the coast of the East China Sea, to the rows of photovoltaic panels connected to the northwest desert, and to the world's largest clean energy corridor on the Yangtze River, they are all charging and storing energy for the Chinese economy. The latest update from the National Energy Administration
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