China 2015 electricity output down 0.2 percent by Staff Writers Beijing (AFP) Jan 19, 2016
China's power production fell in 2015 for the first time on record as the world's second-largest economy grew at its weakest pace in 25 years, official data showed Tuesday. Electricity generation and consumption are closely observed in China because they reflect the strength of economic activities, amid doubts over the accuracy of official statistics. The country last year generated 5.62 trillion kilowatt-hours (kWh) of electricity, down 0.2 percent from 2014, according to data from the National Bureau of Statistics (NBS). It was the first ever decline shown among the figures available on the NBS' website, which go back to 1998. China's gross domestic product (GDP) expanded 6.9 percent last year, the NBS said, the lowest since 1990 and down from 7.3 percent in 2014. Even Premier Li Keqiang has reportedly expressed doubts about Chinese official statistics, telling US diplomats earlier in his career that he preferred to focus on electricity consumption, rail cargo volume, and the amount of loans issued when evaluating the economy. Chinese leaders -- who targeted growth of "about seven percent" -- have said they are seeking lower but better quality and more sustainable growth as they try to steer the country away from investment- and exports-driven growth of the past to one more oriented towards domestic consumer demand. But the transformation is proving bumpy and world markets have been hammered in recent weeks by worries over China, with a weakening Chinese currency and its volatile stock markets complicating the situation. The government is widely expected to lower the growth target for this year, and President Xi Jinping has said expansion of 6.5 percent will be sufficient for China's needs.
China crude steel output falls for first time in 34 years Crude steel production declined 2.3 percent year-on-year to 803.8 million tonnes in 2015, the National Bureau of Statistics (NBS) said. The official Xinhua news agency described it as the first drop since 1981. China accounts for half the world's crude steel production, according to data from the World Steel Association. But the sector has been plagued by overcapacity in both China and the rest of the world for years, and global prices have plummeted in the face of oversupply. They have also been hit by concerns over China's slowing growth, which the NBS said reached 6.9 percent in 2015, its slowest for 25 years. European producers accuse Chinese firms of selling below the cost of production, and French economy minister Emmanuel Macron has warned that Europe would not accept the "Chinese dumping". Beijing has banned new projects in a variety of industries in an effort to correct the problem, Xinhua reported, including steel, cement, electrolytic aluminium, flat glass and shipbuilding. Many of China's giant state-owned enterprises are unviable and Premier Li Keqiang has called for a "cutback on overcapacity in traditional industries as well as a large number of zombie enterprises". State media said his remarks were directed at coal and steel.
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