Chinese energy consumption grew at its slowest rate last year since the 1990s, according to a report by BP, as the world’s biggest energy consumer shifts its economy from heavy industry and more towards services.
Exceptionally low growth levels in energy-thirsty sectors of its economy helped drive down growth in consumption to 2.6 per cent, or less than half its average rate in the past decade, the oil major said yesterday in a report on global energy trends.
Spencer Dale, BP’s chief economist, cautioned that the exceptional declines in energy-guzzling industries might yet be followed by a rebound in demand.
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