(Yicai Global) Oct.31 -- China's electricity consumption skyrocketed in the first nine months this year on the back of an increased demand from residents and the burgeoning service sector.
Chinese people and firms spent 9 percent more electricity, and the growth was two percentage points more than during the same period last year, the National Energy Administration said in a press release yesterday.
Electricity consumption is regarded as a key indicator of social-economic growth. The country has upgraded its electricity distribution system and shifted toward more environmentally friendly sources such as liquified natural gas.
Service sector and residential use rose 1 percentage point while the top four major industrial sectors reduced their use by 0.5 percentage point. Emerging industries and equipment manufacturers increased their demand more than the general manufacturing business.
Residents and corporations opted for LNG increasingly instead of coal and oil, with the use of the environmentally friendlier option rising 17 percent from the year before. This growth was 0.8 percentage point less than last year.
The portion of coal that was consumed for power generation rose to 54 percent, an annual growth of 2.3 percentage points. Oil was deployed as much as last year at 3.4 percent.
Editor: Emmi Laine