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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Copper Prices Rise on China Stimulus Hopes, While Gold Prices Remain Stable

Skylar Williams

Aug 17, 2022 11:40

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As the stock market recovered on Wednesday, demand for safe-haven assets declined, while copper prices rose on the possibility of fresh stimulus measures in China, the largest importer in the world.


Spot gold prices were relatively stable at $1,775.35 per ounce at 20:18 ET (00:18 GMT), while gold futures prices remained unchanged at $1,787.70 per ounce.


The yellow metal was pushed down by Wall Street's gain as a run of positive earnings announcements from Walmart (NYSE:WMT) Inc and Home Depot (NYSE:HD) boosted market sentiment.


Despite recent inflationary pressures, the steady performance of retailers indicates that consumer spending, a vital engine of the U.S. economy, has remained resilient.


This increased risk-taking and decreased demand for safe assets such as gold. Expectations of an ongoing increase in U.S. interest rates, which have attracted speculators to the dollar, have also weighed on gold.


The price of gold is anticipated to decline for a third consecutive session and is down more than 2% year-to-date. Other precious metals also traded sideways on Wednesday. Platinum and silver futures fell 0.1% each.


Copper prices sustained Tuesday's solid rise as traders awaited fresh economic development-promoting stimulus measures from China.


Copper futures rose 0.2% to $3.6315 per pound, extending Tuesday's 0.7% increase, following China's announcement of plans to increase infrastructure spending and release additional cash.


Tuesday, Chinese officials declared that the government will accelerate infrastructure construction through the use of special bonds and increased credit guarantees. In addition, the government intends to aid its suffering real estate market by issuing additional loans.


In an effort to boost economic growth in the face of COVID-19 lockdowns, the People's Bank of China surprisingly reduced interest rates this week.


The United States is the world's largest importer of copper, and the possibility of rising economic activity signals a growth in copper demand.


This approach supported the prices of other industrial metals as well. Zinc grew by 2.1%, while nickel rose by 2.5%.

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