2018 China's power engineering construction investment completed 809.4 billion yuan
Electricity consumption growth is the root cause of sustained investment in the power grid. Although the growth rate of power demand in China has slowed down, the growth trend is still continuing. The root cause of power supply and power grid construction is to serve the terminal electricity demand. Since 2012, China's electricity consumption growth rate has dropped to single digits, of which the growth rate in 2018 is the highest, 8.5%, which is also higher than the GDP growth of the year. In 2018, the growth rate of electricity consumption has a certain speciality. The main reasons are: the rapid growth of electricity consumption in the manufacturing industry and the tertiary industry; and the replacement of electricity by residents such as “coal to electricity”. In the long run, the relationship between electricity consumption and economic growth will not change. In the context of the slowdown in domestic economic growth, especially in the context of industrial restructuring, high-energy-consuming industries are under strict control. Electricity will maintain a low growth rate, and the average annual growth rate is slightly lower than the GDP growth rate of about 1%. Despite the decline in growth rate, electricity consumption continues to grow on a high base, and the grid's investment remains supported by terminal demand.
According to the statistics of China Electricity Council: In 2017, the completed investment in power engineering
construction in China was 823.872 billion yuan, of which the investment in power engineering construction was
289.984 billion yuan, and the investment in power grid construction was 533.88 billion yuan. In 2018, the
investment in power engineering construction in China was 809.4 billion yuan, of which the investment in power
engineering construction was 272.1 billion yuan, and the investment in power grid construction was 53.73 billion