A freight train bound for Kazakhstan leaves the multimodal transport center in the China-Shanghai Cooperation Organization (SCO) local economic and trade cooperation demonstration zone in Qingdao, east China's Shandong Province, Nov. 9, 2020. (Xinhua/Li Ziheng)
BEIJING, Dec. 15 (Xinhua) -- Multiple key economic indicators of China like power consumption and freight index achieved high growth in November, demonstrating the resilience and vitality of China's economy, reported Economic Information Daily Tuesday.
Power consumption has always been regarded as the "wind vane" of economic operation. From January to November this year, China's total power consumption reached 6,677.2 billion kilowatt-hours (kwh), up 2.5 percent year on year.
According to data released by the National Energy Administration on December 14, China's power consumption in November rose by 9.4 percent year on year to 646.7 billion kwh, a sharp increase of 2.8 percentage points from October.
Specifically, the power consumption rose 12.9 percent on year to 6.8 kwh in primary industry in November, up 9.9 percent on year to 467.9 billion kwh in the secondary industry, and up 8.1 percent on year to 97.4 billion kwh in the tertiary industry. Household power consumption increased 7.3 percent on year to 74.6 billion kwh.
The steady increase of power consumption showed the sound trend of enhanced market vitality and economic recovery, said a person in charge of the China Electricity Council, adding that the power consumption demand for social and economic development has gradually returned to normal.
According to the State Grid Energy Research Institute, the power consumption of China in the fourth quarter may increase by about 8 percent, and that of the whole year of 2020 may increase by about 3 percent.
Another key economic indicator, the freight index, also maintained rapid growth.
Data released by the China Academy of Transportation Sciences (CATS) on December 14 showed that the freight index, a sub-index of the China Transportation Services Index (CTSI), stood at 198.4 points in November, rising 7.4 percent year on year.
The freight index of CTSI has grown positively for seven consecutive months, according to Zhou Jian, deputy director of CATS information center research consulting office and laboratory director.
Many agencies said that there were signs in November showing that China's economic recovery was continuing, and with the rapid and effective implementation of macro policies, China's GDP growth in the fourth quarter may exceed 5.5 percent.
(Editedby Gu Shanshan with Xinhua Silk Road,gushanshan.1987@163.com)
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