China's economic growth may start to slow in the second quarter this year, leading to a decrease in energy demand. As a result Chinese energy companies should keep a close eye on the market to maintain a stable energy supply, an official from the national energy watchdog said in an interview with China Daily.
Zhou Xi'an, a director with the Office of the National Energy Leading Group, said on the sidelines of a forum on energy and economic development held in Beijing today, that the Chinese economy may go through a turning point in the second quarter this year. From then on, the economy may grow at a slower speed.
Therefore, Zhou reminded, energy companies should closely watch the position changes China incurs and provide a stable energy supply to better serve the demand by the economy.
His judgment arises from the current US economic slow down, which may eventually lead to a recession and affect the world economy. Studies found China usually follows the United States in economic growth trend, with half a year in time lag.
(China Daily January 15, 2008)
