BEIJING — An industry insider said that China’s electricity consumption this year would grow about 5.5 percent, provided there are no extreme weather conditions on a large scale.
The pace is slower than the 6.6 percent in 2017 and 13.3 percent for the first two months of this year.
“There will be a generally loose environment for power supply and demand, as the supply capability will continue to rise,” Yang Kun, deputy head of the China Electricity Council, said on March 23 at a meeting.
Yang saw a general surplus in power supply this year, saying short supply will only be seen in some regions during peak hours.
China’s economy expanded 6.9 percent last year, picking up for the first time in seven years and well above the government annual target of around 6.5 percent.
The International Monetary Fund forecast in its latest World Economic Outlook released in January that China’s economy will grow 6.6 percent this year.