Sharp rise in power project investment (2)

"But as the slowdown in the economy has been gradually bottoming out in the last two months, the government is speeding up power projects to further aid the economy. And as the economic recovery gathers steam, it will inevitably lead to increasing demand for power," Dai said.

China's official manufacturing Purchasing Managers' Index (PMI), a gauge of performance in the manufacturing industry, rose to a seven-month high of 50.6 in November from 50.2 in October, confirming a trend toward recovery.

"Construction of the power transmission and conversion projects will take two or three years. By approving these projects now, the government intends to prepare for higher power demand in the next few years. It's also a way to avoid the power shortages seen in previous years," Han Xiaoping, chief information officer of China Energy Net Consulting Co, told the Global Times.