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China economic focus June 2022: will power shortage come again?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China is recovering from the Omicron lockdowns that occurred between March and May. Avoiding power cuts in this round of recovery has become the priority of the Chinese government since the widespread power rationing of September 2021. With thermal coal trading above RMB1200/t in the spot market, many suspect that power shortages may return. However, a slower economic recovery and sufficient power supply suggest that another round of power rationing is unlikely except for some extreme circumstances.
Table of contents
- Highlights
- Slower recovery of the economy and power demand
- More power supply secured
- Could there be any shocks?
- Will there be a change in China’s long-term energy transition goals?
- Appendix
Tables and charts
This report includes the following images and tables:
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Unemployment rates remained highConsumer confidence hit by lockdownsPrice cap for thermal coal in long-term contracts supports power generation of coal-fired power
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Wood Mackenzie's proprietary China dataManufacturing PMIIP and retail salesTradeInflationPropertyInvestmentMoney supply (M2)Required reserve ratio
What's included
This report contains:
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