AI Data Insight
China's latest cumulative YoY growth in secondary industry power consumption has dropped to 4.1%, showing a moderate slowdown from the previous 4.4% and indicating a slight cooling in overall industrial production momentum. Despite the weaker aggregate data, the internal structure reveals a distinct pattern of "new rising, old declining," with high-tech and equipment manufacturing power consumption maintaining high growth. This reflects that industrial upgrading continues to drive the restructuring of the economy's underlying logic.