Subscribe

Get the best of Newspaper delivered to your inbox daily

Most Viewed

China’s sanctions on electricity are widespread, and the economy is shrinking

Among the problems of power supply, China’s power restrictions and forced reductions in factory production are becoming more common. Experts predict that the impact of Beijing’s new policy will hit the country’s economy.

According to the local media 21st Century Business Herald, the power crisis has spread to more than 10 provinces, including China’s economically powerful Jiangsu, Zhejiang and Guangdong তিনটি three provinces that account for about one-third of China’s economy.

A notice posted on the social media account of the local grid operator on September 23 said that due to supply shortages, 14 cities in Liaoning, Uttar Pradesh, have been ordered to disconnect emergency power.

Reducing electricity costs is driven not only by raising coal and gas prices, but also by Beijing’s emissions reduction targets.

Analysts at Nomura Holdings warned A note that, in addition to the property sector, the power supply problem could push the Chinese economy even further, and predicted that China would shrink to 3.0 percent in the fourth quarter from its forecast of 4.4 percent.

Follow

.

This News Originally From – The Epoch Times

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Thanks for submitting your comment!

    Subscribe

    Get the best of Newspaper delivered to your inbox daily

    Most Viewed

    Related Stories