CCTV Transcripts

CCTV Script 28/10/19

— This is the script of CNBC's news report for China's CCTV on October 28, 2019, Monday.

Beginning over the weekend, PG&E restarted planned outages, affecting a total of 940,000 households and businesses and more than 2 million people, with media reports of up to 2.7 million, in what could be the largest planned outages in the United States.

It is also the third time in recent weeks that PG&E initiated a planned power outage that has upset the governor of California, Newsom. As a utility company, PG&E has been under controlled by investors, that is being widely questioned. And Newson said the impact of the recent massive power cuts was unacceptable. Outages will bring more economic damage to Cali that already suffers from wildfire. The worst hit areas include northern California's Sonoma and Napa counties, two of the nation's most famous wine regions and tourist destinations, which have suffered from the wildfires.

You may remember that the North Cali wildfire caused huge damage to these 2 wine regions, when they are trying to restore confidence to attract more tourists, the wildfire comes back again, worrying local related people.

In Sonoma and Napa, there are about 40k jobs rely on tourism directly, last year, they earned around $4b. In Napa, tourism is the second largest industry that contributes a lot to employment rate, following wine industry.

According to data, Napa seems have moved on from the wildfire impact in the last 2 years, with 8.9% and 15.9% growth in tourists amount and tourists' spending, while Sonoma has not been restored totally, its hotel occupancy rate dropped 4% and sales lost 5%, compared to last year's data. Local tour operator complained that it is really challenging for them to attract tourist when there is no mention about wildfire risks and disaster records. Currently, the wildfire is still going on, it is hard to predict the impact, Sonoma County Sheriff's Office said it is expected to be the biggest evacuation in the county in more than 25 years. And it is reported some wine chateaus have been impacted.

Wildfire in northern Cali, which happened in Oct 2017 cause direct economic damage of $9.4b and up to $85b loss to U.S. economy. The wildfire destroyed many vineyards. Some vineyards, considered tourist attractions, were destroyed and historic buildings burned. Even vineyards that were not directly burned by the fire, its grapes can not be used because of dust pollution.

We'll keep an eye on the fire and its effects.