The Jiangsu provincial power consumption in August registered a year-on-year growth at 20.6 percent, in which industrial power consumption increased by 18.8 percent, a new high, according to the latest data released.
“The August economic data showed a positive growth trend. The recovery in prices of industrial products also indicated things are improving in overall enterprise performances,” said Guan Ming, director of Economic Operation Department under Jiangsu Economic and Information Technology Commission.
“However, as there were quite some high-temperature days this summer, the peak of power generation brought by air conditioners have accelerated the consumption of energy resources to some extent,” Guan added. “According to several experts’ evaluation, the economic recovery still lacks a solid foundation, and many uncertain factors persist. We should not be blindly optimistic.”
Some enterprises suggested that the current positive trends focus on large-size enterprises and market-leaders of transformation and upgrading, with the small and medium-sized ones and general processing and trade companies still mired in transformation throes.
As long as the economic growth in Jiangsu higher than the “floor level”, no much worry is needed for short-term fluctuations, Professor Qian Zhixin from Nanjing University pointed out. What’s important is to explore new growth points through adjusting and optimizing economic structures to achieve sustained and healthy development of the economy.
