AI Data Insight
China's newly released Q3 cumulative YoY growth rate of electricity consumption in the tertiary industry dropped to 6.8%, continuing its decline from the previous 7.1%. Although this data differs from the official January-August cumulative growth rate of 7.1%, detailed breakdowns show that electricity consumption for battery charging and swapping services and internet data still maintained explosive growth of over 40%, reflecting that new economy business models are becoming the core driving force supporting power consumption expansion.