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Power consumption continues to drop, oil sales set new high
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17:14, June 01, 2009

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Statistics released by the State Electricity Regulatory Commission (SERC) reveals that starting from October 2008 China's power consumption has experienced negative growth for six consecutive months.

The power consumption in the first three months of this year dropped 4.02 percent year-on-year. Even though power consumption does not show a noticeable recovery in April, the sharply declining trend has slowed down. Latest figure shows that the power consumption for the first five months fell about 5 percent over the same period of last year.

In April, the sales volume of refined oil in China reached 17.341 million tons, setting a new record for this year. In that month, five companies – PetroChina, Sinopec, CNOOC, Sinochem and Shaanxi Yanchang Petroleum – reported an average profit increase of 44.8 percent year-on-year.

In the first quarter of this year, the output of coal in China rose 6.3 percent year-on-year. In April, China's raw coal output was up 7.9 percent year-on-year.

According to the latest information issued by the Shanghai Shipping Exchange, the prices for transportation of coal, metallic mineral and grain have declined slightly, revealing a continuing downward price trend for coastal shipping markets.

By People's Daily Online

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