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China Electricity Consumption Up 7.2% In May

CHINA PRESS

China’s electricity consumption grew by 7.2% in May, with the industrial sector up 6.8%, services up 9.9%, and households rising 5.5%, according to data from the National Energy Administration (NEA). At a press conference, NEA Director Zhang Jianhua denied China’s new energy industry had overcapacity, noting that firms had expanded production given optimistic expectations, and that a moderate oversupply can support technological progress and reduce production costs. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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