In a promising start to the year, Shenzhen has witnessed a notable 11% year-on-year increase in electricity consumption during the first quarter (Q1), a sign of robust economic performance.
The city's total electricity consumption surged to 22.8 billion kilowatt-hours in Q1, Dute News reported yesterday, citing data from the Southern Power Grid Shenzhen Power Supply Bureau.
The figures offer a glimpse into the city’s economic trajectory, indicating stability coupled with upward momentum, the report said.
The industrial sector, a key pillar of Shenzhen's economy, exhibited remarkable resilience, with industrial electricity consumption reaching 10.91 billion kilowatt-hours in the first quarter, marking double-digit growth for the first time since 2022. The surge is attributed to Shenzhen's persistent efforts in optimizing its industrial structure and creating an environment suitable for industrial development.
Specifically, electricity consumption in the manufacturing industry reached 9.07 billion kilowatt-hours in the first quarter, representing a year-on-year increase of 14% and surpassing the overall growth rate of industrial electricity consumption by 2.5 percentage points. The integration of cutting-edge technologies, such as artificial intelligence, has further propelled the sector’s resurgence, particularly in domains such as the electronic information manufacturing sector.
The positive momentum extends beyond the industrial realm, as Shenzhen's tertiary sector also experienced a nearly 10% uptick in electricity consumption.
During the same period, electricity consumption in Shenzhen's commercial districts reached 290 million kilowatt-hours, marking an increase of 5.8% year on year. Notably, commercial districts closer to checkpoints, including those in Luohu, Futian, and Nanshan, recorded electricity consumption of 38 million kilowatt-hours, 26 million kilowatt-hours, and 75 million kilowatt-hours, respectively, with year-on-year growth rates of 10%, 5.9%, and 2.9%, respectively.
Furthermore, the wholesale and retail, accommodation and catering, and leasing and business services sectors continued their expansion in the first quarter. Electricity consumption in these sectors reached 1.31 billion kilowatt-hours, 330 million kilowatt-hours, and 1.73 billion kilowatt-hours, respectively, indicating an increase of 20.1%, 11.7%, and 22.1% year on year, respectively.