The recent economic crisis in the mainland of China, following the Evergrande Group problem, has caused hidden worries in the world financial system; The southern cities of the mainland, including Jiangsu, Zhejiang, Guangdong, and Liaoning in the northeast, are experiencing power shortages in more than 10 provinces. . Some factories were ordered to suspend business until the November holiday because they were unable to supply electricity, while others were “open three and stop four” or “open two and stop five.” The affected industries ranged from light industry to solar energy and heavy industry. According to “Bloomberg” analysis, this wave of power shortages may have a serious blow to the mainland economy.
According to “Bloomberg” analysis, the mainland’s electricity demand is increasing, and coal and natural gas prices are also soaring. According to the emission reduction targets set by Beijing, almost half of the 23 provinces in the mainland have not reached the energy targets set by Beijing. Among them, the three major industrial towns, including Jiangsu, Zhejiang, and Guangdong, have been hit and affected the most by the pressure of power shortages. The GDP of these three provinces accounted for nearly one-third of the total, and the impact was even greater. huge.
According to a new report published by Nomura Securities quoted by Reuters, the economic growth rate forecast for the mainland this year has been reduced from 8.2% to 7.7%. In more and more factories, the power restriction policy affects work stoppages, and the reason for the power cuts is related to the official carbon reduction target and the rising coal price.
The report also pointed out that in addition to traditional high-energy-consuming industries such as steel, cement, and chemicals, the solar energy industry has also been impacted. If it continues, the impact will likely be more serious than the power curtailment policy in the summer. However, Foreign Coal also analyzed that because China President Xi Jinping wants to demonstrate his determination to decarbonize to the international community before the Beijing Winter Olympics in February next year, under this policy, there is also a part of the energy crisis caused by the curtailment of electricity. of.
