The lack of electricity seriously hinders the development of the national economy. The experience of various countries around the world indicates that the development speed of power production should be higher than that of other sectors in order to promote coordinated development of the national economy. Therefore, the power industry is also known as the "vanguard" of the national economy.
If we compare China's economic development to the 'body', then the construction of power engineering is undoubtedly the 'bones and muscles' that support the flexible movement of the body. The continuous advancement of power engineering construction is like providing infinite energy for the muscles and bones, and abundant energy supply is a powerful guarantee for the effective operation of various bodily functions.
In 2012, due to the slow recovery of the world economy and the impact of domestic macroeconomic regulation, China's economic growth continued to slow down, with a total annual GDP of 51932.2 billion yuan, an increase of 7.8% compared to the previous year at comparable prices. Since 2000, the speed of electricity consumption and production in China has been consistently higher than the GDP growth rate, which has led to a long-term elasticity coefficient of electricity (production and consumption) greater than 1. Therefore, it has been difficult to reduce energy consumption per unit of GDP, indicating that China's electricity consumption momentum is strong.
During the 12th Five Year Plan period, the national investment in the power industry will reach 5.3 trillion yuan, an increase of 68% compared to the 11th Five Year Plan period. In terms of power engineering construction, the investment in power supply in the 12th Five Year Plan is approximately 2.75 trillion yuan, accounting for 52% of the total power investment. In 2015, the national installed power generation capacity will reach approximately 1.437 billion kilowatts, with an average annual growth rate of 8.5%. Among them, hydropower is 284 million kilowatts, pumped storage is 41 million kilowatts, coal power is 933 million kilowatts, nuclear power is 43 million kilowatts, natural gas power is 30 million kilowatts, wind power is 100 million kilowatts, solar power is 2 million kilowatts, biomass power is 3 million kilowatts, and others.
In terms of power grid construction, the investment in the 12th Five Year Plan for the power grid is approximately 2.55 trillion yuan, accounting for 48% of the total investment in electricity. In 2015, the country will form a "three vertical and three horizontal" main grid structure with the ultra-high voltage power grids in North China, East China, and Central China as the core. The energy bases of Ximeng, Mengxi, Zhangbei, and Shaanbei transmit electricity to the North China, East China, and Central China regions through three vertical ultra-high voltage communication channels, while the northern coal power and southwestern hydropower transmit electricity to the North China, Central China, and Yangtze River Delta ultra-high voltage ring network through three horizontal ultra-high voltage communication channels.
The rapid development of power engineering and a reasonable construction structure have provided strong guarantees for China's economic development, and the strong "backbone" has promoted the sound and rapid development of China's national economy.