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Real-time News
On June 18th, the "Offshore Wind Power Review and Outlook" report was released in Shanghai yesterday (June 17th). The report shows that by 2025, my countrys newly added grid-connected offshore wind power capacity will account for 78% of the global total, maintaining its leading position globally. In 2025, the global newly added grid-connected offshore wind power capacity will reach 9.252 million kilowatts, a year-on-year increase of 16%, of which the Chinese market contributed 7.192 million kilowatts, accounting for a high 78%. By the end of 2025, the global cumulative grid-connected offshore wind power capacity will reach 92.475 million kilowatts, with China accounting for 56% of the global total with a cumulative installed capacity of 52.042 million kilowatts, continuing to lead the world. The 15th Five-Year Plan clearly states the goal: to build offshore wind power bases in the Bohai Sea, Yellow Sea, East China Sea, and South China Sea, and to promote the standardized and orderly development of deep-sea wind power, with the cumulative grid-connected offshore wind power capacity reaching over 100 million kilowatts.On June 18th, the Information Office of the Shandong Provincial Peoples Government held a routine policy briefing, inviting officials from the Provincial Department of Commerce and others to interpret the "Implementation Plan for Local Self-Determined Subsidies for Consumer Goods Trade-in Program in Shandong Province in 2026." To further improve the effectiveness of the consumer goods trade-in policy and meet the diversified consumption needs of the public, five departments, including the Provincial Department of Commerce, issued the "Implementation Plan for Local Self-Determined Subsidies for Consumer Goods Trade-in Program in Shandong Province in 2026," which officially came into effect on June 18th (today) and will end on December 31st, 2026. A total of eight categories are included in the province-wide self-subsidy program, including robotic vacuum cleaners (including floor scrubbers), mobility aids exoskeleton robots, smart toilets, range hoods, household gas stoves (including integrated stoves), water purifiers, dishwashers, and hearing aids.On June 18th, local time, 36 satellites belonging to Amazons Low Earth Orbit (LEO) satellite program were successfully launched from the Kourou Space Centre in French Guiana on the morning of June 17th. Approximately two hours later, all satellites were successfully deployed into their designated orbits. The launch was carried out by a European Ariane 6 launch vehicle. According to the contract, the Ariane 6 will carry out 18 launches to deploy the Amazon LEO satellites; this was the third launch.On June 18th, OCBC Group Research analysts stated in a report that the Central Bank of Indonesia and the Central Bank of the Philippines are likely to raise interest rates by 25 basis points each later on Thursday. The Federal Reserves decision to maintain interest rates likely indicates that these Southeast Asian central banks believe short-term capital flow volatility will persist, and in this context, their policy decisions will remain primarily driven by inflation and macroeconomic stability factors. OCBC noted that the expected rate hike by the Central Bank of Indonesia will be consistent with its policy objective of preventing further deterioration of market sentiment.On June 18th, Federal Reserve officials hinted on Wednesday that they may soon need to raise interest rates rather than cut them, a sharp shift in thinking against the backdrop of rapidly rising inflation. Krishna Guha, an analyst at Evercore ISI, said that the decline in energy prices could provide some relief in the coming months. However, he warned that the interest rate outlook has decoupled from oil prices, suggesting a deeper uncertainty about whether underlying inflation will cool enough that the Fed will not ultimately have to raise rates. Guha stated that in addition to energy, two other pressures remain: the continued transmission effects of tariffs and the cost spillover from the investment boom in artificial intelligence infrastructure. Claudia Sam, chief economist at New Century Advisors and a former Fed economist, said that she has not yet seen the conditions that would typically prompt the Fed to respond to supply-driven inflation—an overheated labor market or a loss of anchor in inflation expectations. But she acknowledged that the case for action is accumulating. “I can understand the view that the Fed should be prepared to intervene and raise rates if things worsen,” she said. The Fed may act faster than it did during the pandemic when inflation surged because “they are already having this debate.”
