China, growth in energy in the first quarter of 2018: good for businesses

25/04/2018

 

The figures speak of an increase of 9.8% on an annual basis for energy consumption

 

The first quarter of 2018 achieved a record for electricity consumption in China, which increased so rapidly that it established a record that prevailed since 2012. The figures speak of an increase of 9.8% on an annual basis.

The pace, therefore, is in sharp acceleration, considering that in the previous quarter it had settled around 5.7%; in the same period last year, moreover, the share was equal to 6.9% according to data released by the National Energy Administration (NEA).

Li Fulong, an official of the NEA, attributed the fastest growth to rising economic growth and low temperatures in the first two months.

 

Emerging industries have exceeded the use of energy for the 35th month

 

By analyzing the individual sectors, it will be noted that the growth in energy consumption in sectors such as information transmission, software and car production has exceeded 16%. This underlines how emerging industries have exceeded the increase in energy use for the 35th month.

 

The consumption of electricity in sectors that consume a lot of energy, such as chemicals, steel and non-ferrous metals, has instead grown at a slower pace.

 

Apparent natural gas consumption increased by 9.8% to 71.2 billion cubic meters in the first quarter. While oil rose 5.5% to 154 million tons, with refined oil consumption up 2.2% to 76.8 million tons.

 

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