Power shortages across at least 10 Chinese provinces risk weighing on the country’s gross domestic product as factories crucial to the global supply chain were forced to cut production, investment banks have warned.
Power supply problems in China’s manufacturing and industrial hubs have intensified this month as provinces struggled to meet the central government’s strict carbon emissions targets at the same time as coal prices have risen.
Bruce Pang, from China Renaissance, an investment bank, said the electricity squeeze could result in a cut to GDP growth of 0.1 to 0.15 percentage points in the third and fourth quarters.
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