Based on statistics from the National Energy Administration, the overall electricity consumption in September has increased 10.4% on year-on-year basis meanwhile the secondary industry recorded an increase of 8.1%.The respective consumptions have increased 13.7% and 12.1% in August. The reduction of electricity consumption in September indicates that the effect of "stable growth" is receding. Anbound thinks that this round of "stable growth" has not resolve the root cause of overcapacity problem and the recovery of domestic industries might be only temporary. The Chinese government will probably lower next year's economic growth target to allow more spaces for the economic transformation.