China’s spike in energy consumption temporary, can be solved – central banker

China’s central bank chief Zhou Xiaochuan said he believes China’s recent spike in energy demand is temporary and can be resolved.

Zhou told a banking meeting that previously for every one percentage point increase in gross domestic product, energy consumption rose by 0.5 percentage point.

But now, for every one percentage point growth in GDP, the rate of increase in energy consumption has risen to more than one percentage point because of investment-driven growth, he said.