China Electricity Council: The total electricity consumption across the industry increased by 5.6% year-on-year in July.

On August 27, the China Electricity Council released the national electricity consumption series index for July 2024. In July 2024, the electricity consumption index for the entire industry was 131.0, an increase of 31.0% compared to the 2020 base year, with an average annual growth rate of 7.0% and a year-on-year increase of 5.6%. The overall operation of the national economy remained stable, with electricity consumption in the entire industry maintaining a steady and rapid growth. In July, the electricity consumption index for agriculture, forestry, animal husbandry, and fishery was 156.9, an increase of 56.9% compared to the 2020 base year, with an average annual growth rate of 11.9% and a year-on-year increase of 1.5%. The year-on-year growth rate decreased by 3.9 percentage points compared to the previous month, influenced by factors such as significantly better national precipitation compared to the same period last year, resulting in negative growth in electricity consumption for forestry and agriculture in that month. In July, the electricity consumption index for manufacturing was 129.4, an increase of 29.4% compared to the 2020 base year, with an average annual growth rate of 6.7% and a year-on-year increase of 5.9%. The year-on-year growth rate was similar to the previous month, and electricity consumption in the manufacturing industry continued to grow steadily and rapidly. Among them: The electricity consumption index for the four major energy-intensive industries was 123.3, an increase of 23.3% compared to the 2020 base year, with an average annual growth rate of 5.4% and a year-on-year increase of 4.8%. The year-on-year growth rate decreased by 0.4 percentage points compared to the previous month. The electricity consumption index for high-tech and equipment manufacturing was 143.5, an increase of 43.5% compared to the 2020 base year, with an average annual growth rate of 9.5% and a year-on-year increase of 9.0%. The year-on-year growth rate was similar to the previous month, indicating a continued rapid growth in electricity consumption in the high-tech and equipment manufacturing industry, with a more obvious trend of industrial structure transformation and upgrading. The electricity consumption index for consumer goods manufacturing was 124.5, an increase of 24.5% compared to the 2020 base year, with an average annual growth rate of 5.6% and a year-on-year increase of 4.3%. The year-on-year growth rate increased by 0.8 percentage points compared to the previous month. In July, the electricity consumption index for the service industry was 149.3, an increase of 49.3% compared to the 2020 base year, with an average annual growth rate of 10.5% and a year-on-year increase of 7.8%. The year-on-year growth rate increased by 0.3 percentage points compared to the previous month, indicating a continued rapid growth in electricity consumption in the service industry. Among them: The electricity consumption index for transportation, warehousing, and postal services was 138.2, an increase of 38.2% compared to the 2020 base year, with an average annual growth rate of 8.4% and a year-on-year increase of 4.3%. The year-on-year growth rate decreased by 0.8 percentage points compared to the previous month. The electricity consumption index for information transmission, software, and information technology services was 145.4, an increase of 45.4% compared to the 2020 base year, with an average annual growth rate of 9.8% and a year-on-year increase of 10.0%. The year-on-year growth rate increased by 2.0 percentage points compared to the previous month. Driven by rapid developments in 5G, artificial intelligence, big data, and cloud computing, the information transmission, software, and information technology services industry continued to experience rapid growth in electricity consumption. The electricity consumption index for accommodation and catering services was 155.0, an increase of 55.0% compared to the 2020 base year, with an average annual growth rate of 11.6% and a year-on-year increase of 5.0%. The year-on-year growth rate slightly increased compared to the previous month. Source: China Electricity Council; Edited by GMTEight: Ye Zhiyuan.