Business Review

In 2022, the Chinese economy adhered to the principle of stable growth and ensured that market prices remained stable amidst a high level of global inflation, thereby demonstrating the tenacity of the economy. Thanks to the effective implementation of policies to secure energy supply and stabilize energy prices, the steady progress of high-quality development of the industry, and coupled with the relaxation of stringent pandemic control measures late last year, the national economy showed signs of gradual recovery and growth.

In 2022, the national total electricity consumption in China rose by 3.6% year-on-year and the national power generation recorded a year-on-year increase of 2.2%, among which, hydropower, wind power, solar power and thermal power increased by 1.0%, 16.3%, 30.8% and 0.9%, respectively.