SCIO briefing on China's economic performance in the first three quarters of 2021
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E-mail China.org.cn, October 21, 2021
South China Morning Post:
Measures of power rationing and production suspension are currently being enforced in many places. Some companies and industry associations said that they have also been affected. Therefore, many institutions have subsequently lowered expectations of China's economic growth this year. My question is that what's the NBS's opinion on this situation? How to evaluate the impact of those specific measures on economic growth? Thank you.
Fu Linghui:
Thank you for your questions. Since the beginning of this year, international energy prices have risen sharply and prices of coal, natural gas, and crude oil have repeatedly hit new highs, making domestic power and coal supplies tight. Various factors led to recent power rationing in some places, which has affected normal production to a certain extent. Therefore, the CPC Central Committee and the State Council have defined a comprehensive plan and set clear requirements for energy production and supply. Relevant departments have implemented the decisions and released a series of measures to reform and ensure supply and price stability. After these measures came into effect and are producing positive results, the tight coal and power supply situation will be eased, and will have less constraints on China's economic performance. Judging from the situation in September, the growth rate of power production has accelerated. In general, the tight energy supply is temporary, and its impact on the economy is controllable. Thank you.
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