Chinese Economics Thread


exactly because the nature of Chinese economy has changed now service sector dominate the economy making more than 60% and contributing 2/3 of the GDP
So western media eat your heart out
Caixin's upbeat readings for services were consistent with a official survey published on Thursday that showed the industry picked up for a second straight month in January. (Reporting by Ryan Woo; Editing by Richard Borsuk )

China's services sector moderates in January but still solid - Caixin PMI

BEIJING, Feb 3 (Reuters) - China's sprawling services sector maintained a solid pace of expansion in January even though growth moderated slightly, a private survey showed on Sunday, offering continued support for the world's second-largest economy as manufacturing cools.

The Caixin/Markit services purchasing managers' index (PMI) fell slightly to 53.6 in January from 53.9 in December, but well above the 50.0 mark separating growth from contraction.

Overseas sales continued to support the sector, with new export business rising at the fastest clip in more than a year, thanks to efforts among Chinese services firms to attract foreign clients. Overall new orders also ticked higher, to 52.6 from 52.3 in December.

The resilience of the services sector, which accounts for more than half of China's gross domestic product, is key to countering the ongoing slowdown in manufacturing.

Chinese factories have been hit by a long-term restructuring of industries, a crackdown on pollution and China's trade tensions with the United States.

"Overall, China's economic growth was weighed on by weakening domestic demand in January, although exports improved marginally as the Sino-U.S. trade negotiations flagged signs of progress," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group.

China's policies to support domestic demand and developments in the trade war "will remain key to the prospects of the Chinese economy. Given that the government has refrained from taking policies of strong stimulus, the downward trend of the economy may be hard to turn around for the time being," Zhong said.

Caixin's composite manufacturing and services PMI, also released on Sunday, slipped to 50.9 in January from 52.2 in December. The January manufacturing PMI, announced on Friday, was 48.3, the lowest since February 2016.

Beijing has taken a raft of measures in the past year to encourage growth - reducing the levels of cash that banks must hold as reserves to spur lending, cutting taxes and fees, and expediting infrastructure spending.

Resolving trade tensions with the United States remains key to improving sentiment and lifting the outlook for Chinese exporters.

Illustrating how China's services sector is holding up, services firms added to their payroll numbers in January. Inflation pressures eased, with operating costs and output charges rising at a slower pace.

Caixin's upbeat readings for services were consistent with a official survey published on Thursday that showed the industry picked up for a second straight month in January. (Reporting by Ryan Woo; Editing by Richard Borsuk )
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Economic Watch: China's economy in good shape for year ahead
Xinhua| 2019-02-04 21:16:48
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China's strong consumption momentum and ample potential for investment could have a major upside for global economic growth in 2019 when observers are raising the risk of a further slowdown.

Some economists have overblown the spillover effect of China's economic slowdown, but such kind viewpoints hold no water and are misleading.


China is shifting its economy toward a more sustainable growth model that draws strength from consumption, services and innovation, which means big chances for countries who can provide quality products and services.

Consumption is expected to contribute to 65 percent of China's economic growth in 2019 and remain the largest contributor, with an expected 9-percent increase in total retail sales of consumer goods, said Wang Bin, deputy director of the Department of Market Operation and Consumption Promotion of the Ministry Of Commerce (MOC) at a recent meeting.

China's strong consumption momentum is a blessing for the world.

A case in point is that during the first China International Import Expo (CIIE) held in Shanghai from Nov. 5-10 in 2018, deals worth about 57.83 billion U.S. dollars were made, benefiting 3,617 foreign exhibitors and more than 400,000 buyers from home and abroad.

The second CIIE scheduled for November 2019 will be better than last year's session, with further opening-up measures. Shanghai will put into practice 100 measures to support further opening up this year. According to the CIIE bureau, more than 500 companies from more than 40 countries and regions have confirmed participation in the 2019 CIIE.

Chinese authorities last month pledged an array of measures to boost consumption as part of the efforts to support the economy.

Optimizing market supply and increasing consumption are playing a greater role in effectively coping with downward pressure on the economy and maintaining stable growth, said a statement released after a teleconference held by the National Development and Reform Commission, the MOC and the State Administration for Market Regulation.

The meeting vowed to encourage consumption of automobiles and electrical home appliances according to local situations, providing greater policy support where conditions permit, and meet demand for green, smart automobiles and home appliances.

The supply of high-quality products and services will be increased, and residents' spending power will be strengthened with measures such as special individual income tax deductions.


With stable debt levels, China has more room for effective investments to shore up growth, while a better environment for foreign investors is also foreseeable as the country opens up further to the world.

As most of China's debt is priced in local currency, and the debt owed by strategic sectors are often backed up by the central government, it is unlikely a financial crisis will occur, said Credit Suisse in its report on investment outlook for 2019.

With stable economic growth and easier market access, China bucked the global foreign direct investment slide in 2018, as the largest investment recipient in the world.

In 2019, foreign businesses are set to reap more benefits from China's continued efforts to widen market access and build a better business environment.

One of the highlights will be a unified foreign investment law that aims to adopt a model of pre-established national treatment with a negative list and strengthened protection of property rights for companies with foreign investments.

The law will be submitted to the upcoming plenary session of the National People's Congress, which is scheduled to open on March 5.

Although the world is witnessing rising trade protectionism, the Chinese government supports an open and inclusive world economy, makes effort to broaden market access, eases foreign equity restrictions and lowers import tariffs.

China's reform momentum has remained unabated. Over the past five years, the country has held at least 45 high-profile meetings on advancing reforms, during which 400 documents and 1,932 reform plans have been launched.


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BEIJING, Jan. 31 (Xinhua) -- China's domestic trade market entities surpassed 70 million by the end of 2018, up 10 percent year on year, official data showed.

They accounted for 68 percent of the total market entities last year, the Ministry of Commerce (MOC) told a press release Thursday.

Domestic trade includes the wholesale and retail industry, accommodation and catering industry and resident services in China.

Newly added market entities for domestic trade in 2018 came in at 14.12 million, equivalent to 39,000 per day on average, MOC spokesperson Gao Feng said.

Domestic trade value added stood at 11.7 trillion yuan (about 1.75 trillion U.S. dollars) in 2018, contributing around 13 percent to gross domestic product, with the proportion second only to manufacturing.

More than one-fourth of employers in China worked in domestic trade in 2018, with an increase of 8.5 percent year-on-year to over 200 million, Gao said.

Thursday's data also showed taxes paid by wholesale and retail industry, and accommodation and catering industry climbed 11.9 percent year-on-year to 2.4 trillion yuan, 2.8 percentage points faster than growth of total tax revenue.

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BEIJING, Jan. 31 (Xinhua) -- China's securities watchdog unveiled draft rules that will combine two existing schemes for foreign investors and expand the scope of investments.

The China Securities Regulatory Commission (CSRC) said in a statement that it has begun to consult public opinion on the new rules that will combine the Qualified Foreign Institutional Investors (QFII) program and the RMB Qualified Foreign Institutional Investors (RQFII) program.

The QFII and RQFII programs, introduced in 2002 and 2011, respectively, allow overseas institutional investors to move money into China's capital account to encourage controlled flows.

By the end of 2018, the quota in the QFII had totaled 150 billion U.S. dollars, with 101.1 billion U.S. dollars approved for 309 foreign institutional investors.

In mid January, China's foreign exchange regulator announced that the total quota of QFII program had doubled to 300 billion U.S. dollars, a new step toward opening up the capital market.

The quota in the RQFII has totaled 1.94 trillion yuan (281.16 billion U.S. dollars), with 646.7 billion yuan awarded for 233 foreign institutional investors.

The QFII and RQFII programs have been developing steadily and played a positive role in introducing long-term capital, optimizing investor structure, improving corporate governance of listed companies and promoting healthy development of the capital markets.

But with two-way opening of the capital market underway, relevant rules of the QFII and RQFII fail to meet the demands of the new market environment.

The draft rules also loosen market access, expand the scope of investments and enhance oversight, according to the CSRC.

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BEIJING, Feb. 1 (Xinhua) -- China's venture capital (VC) investment reached a record high in 2018 as a string of big deals led by tech giants drove up market volume, a report showed.

VC investment totalled 70.5 billion U.S. dollars last year, surging 52.9 percent year on year, according to the latest quarterly analysis of VC trends by global audit and consultancy firm KPMG.

Overall number of deals in 2018 remained stable at 813, up slightly from 799 in 2017 and China dominated the Asia VC market. The record-high investment was largely due to increasing deal value such as the 14 billion dollars raised by fintech juggernaut Ant Financial.

In China, corporate VC is growing rapidly, and more companies have VC arms and they are actively looking for disruptive technologies that can enhance their core business, according to Philip Ng, partner and head of technology, at KPMG China.

"AI for manufacturing defects detection, IoT sensors to monitor environmental factors, robots for customer interaction -- corporate investors are interested in anything that will enhance the user experience or help them innovate on products and services," he said.

The report expects that industries such as healthcare, life sciences and education, as well as AI and other highly innovative technologies with broad applicability, will continue to attract significant funding in Asia in 2019.


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BEIJING, Feb. 2 (Xinhua) -- China's insurance industry saw a stable increase in premium income in 2018 amid tightened regulations aimed at defusing financial risks, official data showed.

Combined premium in the industry totaled 3.8 trillion yuan (567 billion U.S. dollars) in 2018, up 3.92 percent year on year, according to data from the China Banking and Insurance Regulatory Commission.

Property insurers collected 1.18 trillion yuan in premium income, up 11.52 percent year on year, while life insurance firms saw premium income rise by 0.85 percent to 2.6 trillion yuan, the data showed.

Major insurers reported relatively fast growth in premium income, previous company statements showed. A total premium income of 2.19 trillion yuan was obtained by the five listed insurers including Ping An Insurance and China Life Insurance, representing an increase of 10.8 percent year on year.

The rise came amid tightened regulations last year aimed at fending off financial risks in the world's second-biggest insurance market.

The sector has shown a stronger capacity to forestall risks as its overall leverage has gradually dropped and business structure improved, the regulator said in December.

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BEIJING, Feb. 2 (Xinhua) -- China's heavy truck manufacturers reported strong sales last month, pointing to continued vitality in the broader economy.

Some 96,000 heavy-duty trucks were sold in January in China, up 16 percent from a month ago, according to, an auto industry information service provider.

The performance was satisfactory as it remained high and notched the second-best January in recent years, although moderating from the same period a year ago.

Heavy truck sales are highly related to the economic climate in China and usually in line with major economic indicators, such as the purchasing managers' index (PMI).

The manufacturing PMI came in at 49.5 in January, slightly up from 49.4 in December, the National Bureau of Statistics said earlier this week.

Analysts believe a stable economy, truck upgrades of transport companies and stricter environmental rules contributed to the vigorous heavy truck market.

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BEIJING, Feb. 2 (Xinhua) -- China's accounting sector recorded an estimated annual revenue of 100 billion yuan (about 14.8 billion U.S. dollars) in 2018, according to the Ministry of Finance (MOF).

The reading marked a steady industry expansion with accounting firms raking in around 90 billion yuan and 80 billion yuan in 2017 and 2016, respectively.

The total number of accounting firms reached 7,862, and there were 109,352 certified public accountants in China, MOF data showed.

They provided services to over 4 million enterprises and institutions, including more than 3,000 listed companies.


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BEIJING, Feb. 4 (Xinhua) -- China's natural gas consumption surged in 2018 amid the country's efforts to tackle environmental pollution.

Natural gas consumption surged 18.1 percent to 280.3 billion cubic meters last year, according to the National Development and Reform Commission.

The growth accelerated from a rise of 15.3 percent registered in 2017.

China has been promoting efficient, large-scale use of natural gas in the industrial fuel, gas-fired power and transport sectors.

The country aims to make natural gas consumption account for around 10 percent of the country's energy mix by 2020 and 15 percent by 2030.

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BEIJING, Feb. 4 (Xinhua) -- China's steel industry reported profits of 470.4 billion yuan (around 69.7 billion U.S. dollars) in 2018, an increase of 39.3 percent year on year.

Crude steel output grew 6.6 percent to 928.26 million tons, whereas steel production hit 1.1 billion tons, up 8.5 percent year on year, according to the National Development and Reform Commission.

Steel exports dipped 8.1 percent to reach 69.34 million tons, while imports slid 1 percent to hit 13.17 million tons. Coke exports jumped 20.8 percent year-on-year to 9.75 million tons.

The steel industry is likely to maintain reasonable profit margins this year, as industry overcapacity has largely eased over the past three years.

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BEIJING, Feb. 4 (Xinhua) -- Profits of China's electronic information manufacturing industry dipped in 2018, partly due to rising costs.

Profits fell 3.1 percent year on year, while main business costs jumped 9.1 percent from a year earlier, according to a statement by the Ministry of Industry and Information Technology.

In breakdown, profits of the communications equipment manufacturing sub-sector dived 11.8 percent from a year earlier, partly due to a high comparison base, while that of the computer manufacturing sub-sector increased 4.7 percent.

Last year, mobile phone output fell 4.1 percent year on year, with smart phone production down 0.6 percent.

Output of laptops and tablet computers rose 0.6 percent and 2.8 percent, respectively.

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BEIJING, Feb. 4 (Xinhua) -- China's railway system continued to see a surge in passengers on Monday, the Lunar New Year's eve, as Chinese rushed home for family gathering.

Chinese railway network is expected to see 5.48 million trips on Sunday, up 3.6 percent year on year. Nearly 270 extra trains will be put into service to meet the booming travel demand.

About 9.3 million train trips were made on Saturday, up 5.4 percent year on year.

The Spring Festival travel rush started from Jan. 21 and will last till March 1, during which railway trips are expected to hit 413 million in total, up 8.3 percent from a year ago.

Air travel demand also boomed in recent weeks. From Jan. 21 to Feb. 3, China Eastern Airlines sent almost 2 million passengers, up 8 percent year on year.

According to the Chinese zodiac calender, the Year of the Pig starts on Feb. 5, and the public holiday associated with it lasts from Feb. 4 to 10.

Hundreds of millions of Chinese return to their hometowns for family gathering during the holiday.
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Overseas investors hold more yuan bonds at end of January
Xinhua| 2019-02-08 23:38:02
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Overseas investors owned more Chinese yuan-denominated bonds at the end of last month, as the country's bond market opened up wider to the world.

At the end of January, the total amount of yuan bonds owned by overseas institutions under the depository of the China Central Depository & Clearing Co. (CCDC) surged 40.55 percent year on year to 1.51 trillion yuan (about 225 billion U.S. dollars), the CCDC said on its website.

The amount was also slightly up by 0.08 percent from the end of last year, accounting for 2.6 percent of the total value of bonds under CCDC depository, the data showed.

The strong growth in overseas holdings of yuan bonds was in part boosted by the Bond Connect program, a market access scheme launched in July 2017 that allows overseas investors to invest in the Chinese mainland's interbank bond market using financial institutions of the mainland and Hong Kong.

By the end of last year, more than 500 registered institutional investors across the globe had chosen Bond Connect to access the Chinese bond market.

To further open up the bond market, the country announced in November 2018 that overseas institutions investing in its bond market would be exempted from corporate income tax and value-added tax on their bond interest earnings for a period of three years.


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BEIJING, Feb. 6 (Xinhua) -- Railway passenger trips in China rose 8.6 percent year on year to 143 million during the first 15 days of the annual travel rush around the Spring Festival.

On Jan. 26, more than 10.49 million passenger trips were made by rail, a daily record for the travel rush, data from the China Railway Corporation (CRC) showed.

Hundreds of millions of Chinese are going back to their hometowns to celebrate the Chinese Lunar New Year with their families.

The annual travel rush (chunyun) around the festival often puts the transport system to the test.

As more trains have been put into operation, railway transport capacity improved by 5.3 percent this year during the travel rush, according to the CRC.

The Spring Festival travel rush started from Jan. 21 and will last till March 1, with railway trips expected to hit 413 million in total, up 8.3 percent.

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BEIJING, Feb. 5 (Xinhua) -- China's high-tech manufacturing industry grew fast in 2018, according to the Ministry of Industry and Information Technology (MIIT).

In 2018, the value added of the high-tech manufacturing and equipment manufacturing industries rose 11.7 percent and 8.1 percent year on year respectively, while the electronic manufacturing sector surging by 13.1 percent, higher than that of the overall manufacturing industry, according to the MIIT.

Last year, production of new energy vehicles and smart TVs rose 40.1 percent and 18.7 percent respectively.

Miao Wei, minister of the MIIT, said that the ministry would encourage innovation in key areas, strive to make breakthroughs in critical technologies and accelerate advanced manufacturing.

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BEIJING, Feb. 9 (Xinhua) -- More than 100 million Chinese have registered as volunteers by the end of 2018, according to the Ministry of Civil Affairs.

There have been about 12,000 organizations of volunteer services registered by the end of 2018, which provided more than 1.2 billion hours of service in total, according to a ministry statement published earlier.

Chinese have taken an increasingly active part in volunteering in recent years, particularly at major international events such as the 2008 Beijing Olympic Games, the 2010 Shanghai World Expo, the G20 Hangzhou summit in 2016 and the Shanghai Cooperation Organization Qingdao summit in 2018.

The country's first regulation on volunteer services took effect in December 2017, clarifying the principles and establishing administrative institutions in this regard.

With the number of volunteers growing fast, more efforts will be made to encourage their participation in public service and social governance, and improve the quality of their service, said a statement from the China Volunteer Service Federation.


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XINING, Feb. 8 (Xinhua) -- Expressways now reach all prefectures and cities in northwest China's Qinghai Province, with a total length of 3,938 kilometers, according to provincial authorities.

By the end of last year, the province had 82,000 km of highway, the provincial transport department said.

With the completion of nine highway construction and expansion projects in 2018, Qinghai achieved the goal of all its eight cities and prefectures having expressways, said Mao Zhanbiao, head of the department.

In November, traffic opened on a 57-km stretch of an expressway that links the Salar Autonomous County of Xunhua in Qinghai and neighboring Gansu Province.

The improved transport service has boosted local economic development. Last year, the plateau province's highway passenger throughput reached 50 million. Its highway cargo throughput hit 160 million tonnes, up 5.5 percent year on year, Mao said.

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LHASA, Feb. 6 (Xinhua) -- A total of 25 counties in Tibet Autonomous Region escaped poverty in 2018, the regional government said Wednesday.

The counties are under the cities of Xigaze, Shannan, Nyingchi, Qamdo and Nagqu as well as Ngari Prefecture, according to the regional poverty alleviation headquarters.

The region's targeted poverty reduction has made decisive progress in 2018, the headquarters said in a statement.

With 2,100 villages and 181,000 residents out of poverty, Tibet's poverty headcount ratio has dropped significantly, the statement said.

Thanks to anti-poverty efforts including development of featured industries, relocation of people to more habitable places, better social security and improved infrastructure, 55 counties in Tibet have so far got rid of poverty, official statistics showed.

The regional government has vowed to basically eliminate absolute poverty by the end of 2019.

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BEIJING, Feb. 6 (Xinhua) -- China's Supreme Court has released a judicial interpretation on contract dispute cases in construction projects which aims to protect the rights and interests of construction workers.

The interpretation stipulates that the people's courts should, after identifying the contractors' arrears for the subcontractors, order the contractors to assume responsibility for the developers within the scope of the arrears.

The interpretation also said that the actual developers had the right to bring a suit of subrogation against the contractors, which further protects the rights and interests of construction workers.

If the losses of an invalid construction project contract cannot be estimated, the people's court can, at the request of one party, make the judgment according to factors including the extent of the two parties' faults and the causal relationship between the faults and losses, the interpretation read.

The interpretation took effect on Feb. 1.

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SHIJIAZHUANG, Jan. 25 (Xinhua) -- The south-to-north water diversion project transferred 2.24 billion cubic meters of water to northern China's Hebei Province last year to quench its thirst, refilling some rivers.

The volume was twice the total combined volume the province had received over the previous three years, said an official with the provincial water resources department.

Part of the water was discharged to three local rivers -- Hutuo, Fuyang and Nanjuma -- to ease the groundwater shortage and improve the local ecology.

Thanks to the refill, groundwater levels nearby the rivers rose by 0.76 meters on average, according to the official.

China's northern region has long suffered from water shortage, leading to groundwater overexploitation and river water shrinking, especially in Hebei, a drinking-water supplier for neighboring Beijing.

The south-to-north water diversion project, the world's largest, takes water from the Yangtze River to feed dry areas in the north through eastern, middle and western routes. The first phase of the middle route begins at Danjiangkou in Hubei Province and runs through Henan and Hebei provinces before reaching the cities of Beijing and Tianjin.

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BEIJING, Jan. 25 (Xinhua) -- Minimum living allowances for rural areas in China have reached or surpassed the national poverty line in 2018, according to a press conference of the Ministry of Civil Affairs Friday.

By the end of 2018, the country had 35.19 million people receiving minimum living allowances for rural areas, and the standard of the allowance stood at 4,833 yuan (715 U.S. dollars).

The country had 4.82 million neediest people by the end of last year, and 33.46 billion yuan was allocated to support them in 2018, the ministry said.

A total of 12.16 billion yuan was spent on the temporary assistance for 10.75 million people last year.

As of the end of 2018, China had 236 welfare institutions for mental patients, offering more than 72,000 beds, the ministry said.


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BEIJING, Nov. 11 (Xinhua) -- China has seen rapid growth in its publishing industry over the past four decades, with the number of publishing houses increasing from 105 to over 580, data from National Press and Publication Administration (NPPA) showed.

In 2017 alone, nearly 500,000 varieties of books were published, compared with 15,000 in 1978. A total of 9.24 billion copies were printed, generating a total sales volume of 370.4 billion yuan (53.5 billion U.S. dollars), according to the NPPA.

Since the reform and opening up, China's publishing industry has evolved in areas of management, ownership, supplies of cultural products and services and integration with other sectors, said NPPA official Liu Xiaokai at an event commemorating the publishing industry's development this week.

Physical bookstores in China have taken the path of integrated development and transformation and upgrading, thanks to favorable policies introduced in recent years, said Liu.

Ai Limin, director-general of the Books and Periodicals Distribution Association of China, said that it has become a main-stream trend for bookstores to promote the integration of online and offline stores.

Meanwhile, multiple publishing patterns, including traditional printed publishing and emerging electronic, digital, internet and big data publishing, have changed the way of reading.

Director-general of the Publishers Association of China Liu Binjie suggested the publishing industry adopt advanced technologies to foster new reading mode.

Li Guoqing, the founder of China's e-commerce platform, pledged efforts in areas of original online content, e-books, videos and audio books in the next three years.

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HANGZHOU, Jan. 24 (Xinhua) -- East China's Zhejiang Province launched over 3,700 "electricity replacement projects" in 2018, leading to a sharp reduction of carbon dioxide emission, the State Grid Zhejiang Electric Power Co. Ltd. said Thursday.

A total of 3,714 replacement projects were launched in the province last year, which resulted in the consumption of over 7 billion kilowatt hours of electricity to reduce the consumption of coal and oil equivalent to 2.8 million tons of standard coal, the company said.

The company has been promoting electric power in major fields over the past few years, instead of using coal and oil, so as to slash air pollution and haze.

The major fields cover transportation, residential consumption and industries including tourism, manufacturing industry and agriculture.

So far, 71 tourist attractions in Zhejiang rely entirely on electricity for energy supply. More than 25,000 households in the province have used electricity for heating.


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Great site for the power industry in PRC, with many government sources nicely translated into English.

[*: 'Thermal' power generation includes coal, gas, oil. In these graphs, biomass power production has been subtracted from values reported for 'Thermal' by the CEC (in the statistical bulletin below). Data on biomass production is from the NEA press conference (
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Indicator Unit 2017 2018 Change
(±, %, pc. pt)

Power production GWh 6,452,900 6,994,000 8.4
Hydro power GWh 1,194,700 1,232,900 3.2
Thermal power GWh 4,587,700 4,923,100 7.3
Nuclear power GWh 248,100 294,400 18.6
Wind power GWh 304,600 366,000 20.2
Solar power GWh 117,800 177,500 50.8
Total power cons. GWh 6,309,400 6,844,900 8.5
Primary industry GWh 66,300 72,800 9.8
Secondary industry GWh 4,407,400 4,723,500 7.2
Of which:Industry GWh 4,338,000 4,645,600 7.1
Tertiary industry GWh 958,000 1,080,100 12.7
Household power cons. GWh 877,700 968,500 10.4
Installed generation capacity MW 1,784,180 1,899,670 6.5
Hydro power MW 343,770 352,260 2.5
Thermal power MW 1,110,090 1,143,670 3.0
Nuclear power MW 35,820 44,660 24.7
Wind power MW 164,000 184,260 12.4
Solar power MW 130,420 174,630 33.9
Transmission line length (>220 kV) km 685,567 733,393 7.0
Public transformer capacity (>220 kV) MVA 3,789,340 4,022,550 6.2
Newly installed generation capacity MW 130,440 124,390 -4.6
Hydro power MW 12,870 8,540 -33.7
Thermal power MW 44,530 41,190 -7.5
Nuclear power MW 2,180 8,840 306.3
Wind power MW 17,450 21,000 20.3
Solar power MW 53,410 44,730 -16.2
Transmission line length (>220 kV), additions km 41,413 41,035 -0.9
Newly installed converter capacity MW 79,000 32,000 -59.5
Substation capacity (>220 kV), additions MVA 242,310 220,820 -8.9
Completed investment in electric power projects Million RMB 823,900 809,400 -1.8
Of which:Completed investment in power generation Million RMB 290,000 272,100 -6.2
Of which:Hydro power Million RMB 62,200 67,400 8.4
Thermal power Million RMB 85,800 77,700 -9.4
Nuclear power Million RMB 45,400 43,700 -3.8
Wind power Million RMB 68,100 64,200 -5.7
Of which:Completed investment in power grid Million RMB 5,339 5,373 0.6
Coal consumption, net, (as standard coal equivalent) in power plants 6 MW and above g/kWh 309 308 -2.0
Power plant productivity (full load hours; 6 MW+ power plant avg.) hours 3,790 3,862 73
Hydro power hours 3,597 3,613 16
Thermal power hours 4,219 4,361 143
Nuclear power hours 7,089 7,184 95
Wind power hours 1,949 2,095 146
Transmission loss rate % 6.48 6.21 -0.3
Note:1. Power production, total electricity consumption and generation capacity data are industry statistics totals from the China Electricity Council。
2. Wind and solar power generation and generation capacity statistics are for grid-connected capacity。
3. Due to differences in statistical standards, confirmation of moment of grid connection, and other reasons, there are certain discrepancies in data on total and newly installed generation capacity。
4. Data for Xinjiang Autonomous Region based on statistical collection methods used by the Xinjiang Electric Power Company。
5. Completed investment data are projects included in the CEC power industry statistics for large power companies。

Additional statistics from NBS:
Original title: 2018年12月份规模以上工业增加值增长5.7%
Links: Source document (in Chinese) (
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YoY Increase

Vehicles 1000 units 27,968 -3.8
Of which:Sedan 1000 units 11,601 -1.8
Sport utility vehicles (SUV) 1000 units 9,274 -6.7
Of which:“New Energy Vehicles" 1000 units 1296 40.1
Generators (power generation equipment) MW 106,010 -9.3
Raw coal kt 3,545,910 5.2
Coking coal kt 438,200 0.8
Crude oil kt 189,110 -1.3
Crude oil processing capacity kt 603,570 6.8
Natural gas Million cubic meter 161,000 7.5