全球储能领域：中国电力行业分析 =若电力是人工智能的瓶颈，中国是否正胜出？

1 September 2025 Global Energy Storage Electric China: If power is the bottleneck to AI, is China winning? Neil Beveridge, Ph.D. +852 2123 2648 neil.beveridge@bernsteinsg.com Brian Ho, CFA +852 2123 2615 Hengliang Zhang +852 2123 2629 hengliang.zhang@bernsteinsg.com China's power demand surpassed 1,000TWh last month with growth likely to be far stronger than many expect. Annual demand reached c. 10,000TWh last year (2.5x US) and will reach 13,500TWh by 2030 and 25,000TWh by 2050, driven by AI, EV, air-con, ...