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Daily power output posts rise

CHINA'S daily power generation topped 9.76 billion kilowatt-hours in the first 10 days of this month, the highest so far this year, the China National Power Dispatching and Communication Center said yesterday.

Although the figure was down 0.17 percent over the same period last year, the decline was less than the previous month. Power generation dropped 3.5 percent last month over the same period last year.

Market analysts attributed the increase of the figure mainly to a recovery in the country's heavy industry, including cement, steel and iron, and coal.

Data from the National Bureau of Statistics showed China produced 250 million tons of coal last month, up 9.6 percent over the same month last year, steel output was 57.29 million tons, up 7.4 percent year on year.

"Fast development and surging output of heavy industries in May further indicated a recovery of the country's economy, and the momentum continues in June," said Yang Fan, an analyst of CITIC Securities.

Zhu Baoliang, an economist of State Information Center, said the country's heavy industries were expected to use more power in the following months as the country's economic stimulus began to take effect.

Power generation, a key indicator of a country's economic health, began to decline from late last year, indicating a slowdown in the economy.

In another sign of an economic recovery, China's fiscal revenue rose 4.8 percent to 657 billion yuan (US$96 billion) last month from a year earlier, ending four months of decline, the Ministry of Finance said on Monday.


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