According to the IQiyi Finance app, on August 27th, the China Electricity Council released the National Power Consumption Index for July 2024. In July 2024, the electricity consumption index for the entire industry was 131.0, an increase of 31.0% compared to the 2020 base period, with an average annual growth rate of 7.0% and a year-on-year growth rate of 5.6%. The overall operation of the national economy is stable, and electricity consumption in the entire industry continues to grow steadily and rapidly.

In July, the electricity consumption index for the agriculture, forestry, animal husbandry, and fishery industry was 156.9, an increase of 56.9% compared to the 2020 base period, with an average annual growth rate of 11.9% and a year-on-year growth rate of 1.5%. The year-on-year growth rate decreased by 3.9 percentage points compared to the previous month, mainly due to significantly better precipitation nationwide compared to the same period last year, resulting in negative growth in electricity consumption for the forestry and agriculture sectors.

In July, the electricity consumption index for the manufacturing industry was 129.4, an increase of 29.4% compared to the 2020 base period, with an average annual growth rate of 6.7% and a year-on-year growth rate of 5.9%. The year-on-year growth rate is similar to the previous month, indicating stable and rapid growth in electricity consumption in the manufacturing industry. Among them:

The electricity consumption index for the four major energy-intensive industries was 123.3, an increase of 23.3% compared to the 2020 base period, with an average annual growth rate of 5.4% and a year-on-year growth rate of 4.8%. The year-on-year growth rate decreased by 0.4 percentage points compared to the previous month.

The electricity consumption index for high-tech and equipment manufacturing industry was 143.5, an increase of 43.5% compared to the 2020 base period, with an average annual growth rate of 9.5% and a year-on-year growth rate of 9.0%. The year-on-year growth rate is similar to the previous month, indicating a continued rapid growth trend in electricity consumption in the high-tech and equipment manufacturing industry. The trend of transformation and upgrading of the manufacturing industry's industrial structure is more evident.

The electricity consumption index for the consumer goods manufacturing industry was 124.5, an increase of 24.5% compared to the 2020 base period, with an average annual growth rate of 5.6% and a year-on-year growth rate of 4.3%. The year-on-year growth rate increased by 0.8 percentage points compared to the previous month.

In July, the electricity consumption index for the service industry was 149.3, an increase of 49.3% compared to the 2020 base period, with an average annual growth rate of 10.5% and a year-on-year growth rate of 7.8%. The year-on-year growth rate increased by 0.3 percentage points compared to the previous month, indicating a fast growth momentum in electricity consumption in the service industry. Among them:

The electrical utilities index for transportation, storage, and postal services is 138.2, an increase of 38.2% over the 2020 base year, with an average annual growth rate of 8.4%, a year-on-year growth of 4.3%, and a year-on-year growth rate 0.8 percentage points lower than the previous month.

The electrical utilities index for information transmission, software, and information technology services is 145.4, an increase of 45.4% over the 2020 base year, with an average annual growth rate of 9.8%, a year-on-year growth of 10.0%, and a year-on-year growth rate 2.0 percentage points higher than the previous month. Driven by the rapid development of 5G, artificial intelligence, big data, cloud computing, etc., the electricity consumption of the information transmission, software, and information technology services industry continues to grow rapidly.

The electrical utilities index for lodging and dining is 155.0, an increase of 55.0% over the 2020 base year, with an average annual growth rate of 11.6%, a year-on-year growth of 5.0%, and a slight increase in the year-on-year growth rate compared to the previous month.