Bank advisers

    CHINA’S central bank has named three economic professors as advisers to its monetary policy as part of scheduled changes to an advisory committee.

    Fan Gang, Huang Yiping and Bai Chong-en will succeed Qian Yingyi, Chen Yulu and Song Guoqing as the advisers on the monetary policy committee, the People’s Bank of China (PBOC) said in a statement on its website.

    Power consumption

    CHINA consumed 456.7 billion kilowatt-hours (kWhs) of electricity in May, up 1.6 percent from the previous year, figures from the country’s National Energy Administration showed yesterday.

    Consumption in the first five months of the year reached 2.189 trillion kWhs, 1.1 percent higher than the same period in 2014.

    Russian oil supplies

    CHINA’S top energy firm, PetroChina, is seeking to limit overland oil deliveries from Russia to 20 million tons a year, Russian newspaper Kommersant said yesterday.

    Moscow agreed in 2013 to deliver 30 million tons of ESPO Blend crude annually to China’s northeast via the Skovorodino-Mohe spur of the East Siberia-Pacific Ocean pipeline which connects Russia’s oilfields with the Pacific port of Kozmino.

    Audi’s China sales

    GERMANY’S Audi said yesterday that its sales in China slipped 1.6 percent in May, the first drop in the luxury carmaker’s biggest market in more than two years.

    Deliveries in China fell to 47,410 cars and sport-utility vehicles from 48,174 a year earlier, the first decline since February 2013, a spokeswoman said.