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China Power Use Contraction Slows in March on Economic Recovery Signs

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BEIJING,&nbsp;Apr. 15&nbsp;-- Power consumption in China continued to decline in March but the downward pace was slower, reflecting signs of a recovering economy, industry figures showed Tuesday. 
&nbsp;&nbsp;&nbsp; China's power use fell 2.01 percent year on year in March, compared with a dip of 5.2 percent in the January-February period, said the China Electricity Council (CEC) in a statement on its Website. 
&nbsp;&nbsp;&nbsp; In the first quarter, power consumption totaled 781 billion kilowatt-hours, down 4.02 percent from the same period last year, said the CEC. 
&nbsp;&nbsp;&nbsp; Among the total, industrial use of electricity in the first quarter slid 8.38 percent year on year to 550.8 billion kilowatt-hours, CEC data showed. But it was a milder decline than the 10.37 percent year-on-year slump in the January-February period. 
&nbsp;&nbsp;&nbsp; "The power use figure is in the bottom area now and gradually picking up," said Xue Jing, an official with the CEC Department of Statistics and Information. 
&nbsp;&nbsp;&nbsp; "The recovery was most obvious in eastern and southern regions, showing there were positive changes in local economic activities," said Xue. 
&nbsp;&nbsp;&nbsp; For instance, power use in the eastern Anhui Province rose 4.63percent year on year in the first quarter and that in Jiangxi, also an eastern province, went up 3.01 percent. 
&nbsp;&nbsp;&nbsp; Central provinces also recorded increasing power consumption as they were less impacted by the global financial crisis than the export-oriented east and south, she said. 
&nbsp;&nbsp;&nbsp; However, the less-developed western areas still saw sharply less power being used, pointing to uncertainties of the economy. 
&nbsp;&nbsp;&nbsp; Economic slowdown has sapped China's power consumption since last October as the world downturn took a toll on the country's exports. 
&nbsp;&nbsp;&nbsp; The government announced a 4 trillion-yuan (585 billion U.S. dollars) stimulus package in November to spur growth, followed by support plans for ten industries from textile to steel. 
&nbsp;&nbsp;&nbsp; Helped by stimulus measures, light industry and cement producers saw a rebound of electricity use in March, said Xue. 
&nbsp;&nbsp;&nbsp; Power consumption by light industry increased 1.6 percent year on year in March, compared with a 13.5 percent year-on-year decline in December, while that by the cement sector rose 4.24 percent. 
&nbsp;&nbsp;&nbsp; Big power users such as steel, non-ferrous metals and chemical sectors are yet to see a recovery as more specific stimulus policies are needed to invigorate the industries, said Xue. 
&nbsp;&nbsp;&nbsp; Premier Wen Jiabao told reporters in Thailand Saturday that China's economy showed signs of better-than-expected changes during the first quarter. He said industrial output rose 8.3 percent in March, up from a record low of 3.8 percent in the first two months of the year. 
&nbsp;&nbsp;&nbsp; Other positive figures included 1.89 trillion yuan of new loans extended by lenders in China in March, the third straight month that new loans exceeded 1 trillion yuan. 
&nbsp;&nbsp;&nbsp; The National Bureau of Statistics is scheduled to release first-quarter growth data Thursday, which are expected to demonstrate whether an economic recovery is occurring. 
&nbsp;&nbsp;&nbsp; (Source: Xinhua) &nbsp; &nbsp;

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China Power Use Contraction Slows in March on Economic Recovery Signs | Shanghai Non ferrous Metals

China Power Use Contraction Slows in March on Economic Recovery Signs

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