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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China defends economic data AFP - Monday, June 1 BEIJING (AFP) - - China defended its economic data after the International Energy Agency questioned the consistency between the nation's growth rate and its falling energy demand. ADVERTISEMENT Critics have said the country's growth is does not match up with its weakening oil and electricity demand. But Zhang Guobao, head of the National Energy Administration, said this was due to a change in the nation's industrial mix. "High energy consuming industry is on the decline, and low energy consuming industry is on the rise, so this has impacted electricity consumption," he told reporters. Overall electricity consumption in China from January to April dropped 4 percent compared to the same period in 2008, according to a statement released by the energy administration. In the same period, China imported 57 million tonnes of crude oil, a 4.5 percent drop from a year earlier, Zhang told reporters. But China's first quarter GDP grew by 6.1 percent. Historically, demand for oil and electricity products is used as a proxy for gross domestic product growth. The International Energy Agency in its May report on the oil market questioned the figures. "Oddly enough, (first quarter of 2009) reported GDP growth does not tally with oil demand data (nor with electricity demand, which was also inordinately weak)," it said. But Zhang pointed to slowing growth in heavy industry, which traditionally accounts for around 80 percent of industrial electricity consumption. He said the oil processing and coking industries had dropped by 5.4 percent in the first quarter, whereas communications -- a low-energy consuming sector -- had increased 15.5 percent. Zhang also said that part of the demand for steel and non-ferrous metals had recently been met by existing inventories instead of new production, which would have increased electricity consumption. Email Story IM Story Printable View Blog This Sign in to recommend this article » 1 user recommend Related Articles: China's Economy US STOCKS-Futures sharply higher after China manufacturingReuters - Tuesday, June 2 TOPWRAP 3-Industry data fuel recovery hopes, GM on the brinkReuters - Tuesday, June 2 Lumena Resources IPO aims to raise $190 mlnReuters - Tuesday, June 2 Parkson in sale of $85 mln in shares-term sheetReuters - Tuesday, June 2 Related Articles: Business Husky Energy 'planning dual listing': reportAFP - Monday, June 1 SouthGobi Energy eyes $200mln-$250mln HK IPO-sourceReuters - Monday, June 1 Taiwan dollar at 8-month closing high on fundsReuters - Tuesday, June 2 CORRECTED-BHP voices doubts about global commodity rallyReuters - Monday, June 1 RPT-HK May business contraction slowest since Sept -PMIReuters - Monday, June 1 Enlarge Photo China defends economic data Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Last Titanic survivor dies in England Ancient eruption 'killed off world's sea life' GM files for bankruptcy Talent judge defends singing sensation Boyle Aung San Suu Kyi 'covered up' truth: Myanmar junta View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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