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China's Huaneng sees power industry entering 'low-speed growth' stage

Liu Guoyue, center, executive director and president at Huaneng Power International, says China's energy market has entered a stage of "low-speed growth."

HONG KONG -- China's Huaneng Power International said Thursday it would cut back on its power production as the world's second largest economy is still plagued by a glut in its energy supplies.

     Huaneng, the Hong Kong-listed arm of state-owned power generator China Huaneng Group, expects that sluggish demand will cause its domestic power generation this year to fall 1.7% to 315 billion kilowatt-hours -- its lowest target since 2011.

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