AI Data Insight
In the third quarter of 2026, the cumulative year-on-year growth rate of China's industrial electricity consumption slowed to 4.3% from the previous 4.6%. Although traditional electricity demand cooled, driven by double-digit growth in the high-tech and equipment manufacturing sectors, China's Q3 GDP still beat market consensus with a 4.5% growth. Moving forward, close attention should be paid to the sustainability of export momentum and local fiscal expansion.