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High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

China

China

China

High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

2024-08-04 15:57 Last Updated At:23:47

Shanghai is sweltering under scorching temperatures, with authorities issuing high-temperature alerts as the intense heat has driven up electricity use, ice sales and hospital visits.

Shanghai issued its first red alert for high-temperature this year on August 1, with a second red alert following the next day.

On Friday morning, Shanghai's power grid load surpassed 40 million kilowatts for the first time, setting a new record. Authorities adjusted the high-temperature alert to orange on Sunday morning, with temperatures expected to exceed 37 degrees Celsius in most parts of the city.

In addition to the surge in electricity consumption, there has been increased demand for ice. Workers at the Yuhu Ice Factory in Songjiang District are now working overtime to produce the valuable commodity.

"I make deliveries at least twice a day, sometimes three or four times. I am mainly responsible for deliveries to markets in the Songjiang District, the old city area," said Ye Laiyi, a driver of an ice truck.

According to the ice factory, its daily production exceeds 3,200 blocks, equivalent to over 160 tons. The ice blocks are primarily supplied to supermarkets, seafood markets, vegetable markets and factory workshops.

As the heatwave persists, Shanghai hospitals are experiencing a peak in emergency room visits. Doctors noted that elderly individuals with cardiovascular or respiratory conditions are particularly vulnerable to illnesses during this ongoing period of extreme heat.

"Most of the patients with heart disease, lung infections or chest discomfort are elderly individuals," said Wang Qi, head nurse at the emergency department of a local hospital.

High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

High temperatures spark surge in electric use, ice sales, hospital visits in Shanghai

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ECB cuts interest rates by 25 basis points

2025-03-07 03:04 Last Updated At:03:17

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points

ECB cuts interest rates by 25 basis points

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