Power data is an important indicator of economic operation, which is not only the "barometer" of the economy, but also the "weather vane" of the economy. According to the latest data released by the National Bureau of Statistics, in November, the growth rate of China's electricity production accelerated, with 731 billion kilowatt hours of power generation, a year-on-year increase of 84%, the growth rate is 3 percent faster than in October2 percentage points. From January to November, China's power generation was 8,073.2 billion kilowatt hours, a year-on-year increase of 48%。According to data released by the National Energy Administration, in November, the growth rate of electricity consumption in China's whole society and the tertiary industry reached the highest level in the year, with the electricity consumption of the whole society reaching 763 billion kilowatt hours, a year-on-year increase of 116%。This growth rate increased by 3 percent from October2 percentage points, also the highest level of the year. The increase in power generation and electricity consumption is a microcosm of the recovery of industry, service industry and other industries.
In November, the supply of industrial production rebounded steadily, and the demand for the service industry maintained rapid growth, stimulating a significant increase in electricity consumption. From the perspective of industry, the support of the equipment manufacturing industry has been strengthened, and the growth rate of most industries has rebounded. In November, the added value of industrial enterprises above designated size increased by 6 percent year-on-year6%, 2 percentage points faster than the previous month, more than sixty percent of the industry, nearly half of the product growth rate has rebounded from the previous month. From the perspective of the service industry, the contact service industry maintained a recovery, and the modern service industry grew steadily. In November, the service sector production index increased by 9 percent year-on-year3%, 1 faster than the previous month6 percentage points.
At the same time, the demand side is also showing a recovery trend. From the perspective of consumption, the sales of travel goods improved, the potential of service consumption continued to be released, and the market sales growth momentum was good. In November, the total retail sales of consumer goods increased by 10 percent year-on-year1%, 2 percent faster than the previous month5 percentage points. From January to November, retail sales of services increased by 19 percent year-on-year5%, 05 percentage points.
The "heat" at both ends of the production side and the demand side pushed the "heat value" of China's economy to continue to rise in November. With the recovery of market demand and various policies such as reducing burdens, benefiting enterprises, and promoting consumption, China's economy is expected to continue to release vitality in December, adding fuel to the consolidation of the economic recovery and raising wages. (CCTV commentator Yang Liuqing).
*: CNR).