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China Power Demand Registered Robust Growth in June 2020
14 July 2020IHS Markit Energy Expert
Power demand growth in China continued to recover from COVID-19
impact. Power demand rose by 6.1% in June 2020, exceeding the
growth rate of June last year at 5.7%. Thanks to the stimulus
policies amid effective pandemic control, power demand growth has
been accelerating since March, with growth rates of 0.7%, 4.6% and
6.1%, respectively for April, May and June. From a quarterly
perspective, power demand grew by 3.9% in the second quarter of
2020, compared with 4.7% in the same period last year.
Figure 1: China Power Demand June 2020
Industrial and residential power demand drove the recovery in
June. Industrial sector accounted for nearly half of the
incremental power demand, compared with last year. Residential
sector led power demand growth in June, with a rise of 14.3%, owing
to more household indoor activities and increasing cooling demand
in the summer. Power demand in industrial and commercial and
services sector grew at 4.3% and 7.0%, respectively, only slightly
lower than the 5.0% and 7.5% growth rate in last year.
