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On March 13, the Ministry of Natural Resources released the "2025 China Marine Economy Statistical Bulletin." Preliminary calculations show that in 2025, Chinas marine GDP reached 11,018 billion yuan, a 5.5% increase over the previous year, accounting for 7.9% of GDP, 0.1 percentage points higher than the previous year. In terms of the three-sector structure, the added value of the primary marine industry was 492.3 billion yuan, the secondary industry 4,101.7 billion yuan, and the tertiary industry 6,424 billion yuan, accounting for 4.5%, 37.2%, and 58.3% of the total marine GDP, respectively.Hong Kong-listed property stocks rose in some areas, with Sunac China (01918.HK) and Greenland Hong Kong (00337.HK) up more than 10%, and Country Garden (02007.HK) and Shimao Group (00813.HK) up nearly 5%.Afghanistan claims Pakistan attacked Kabul and several other provinces.March 13 – The Public Relations Department of the Iranian Islamic Revolutionary Guard Corps (IRGC) announced today (March 13) that the IRGC launched the 44th wave of Operation True Commitment 4 in the early hours of today. During the operation, Iran launched numerous precision-guided weapons, including the Khorramshahr, Khaibir Shekan, Fatah, Imad, and Qader, as well as heavy missiles and precision-guided drones, targeting Israeli military bases in Kiryatshmona, Hedra, and Haifa in northern Israel, as well as the US Fifth Fleet and other US military bases in the region.On March 13th, the Economic Daily published an article pointing out that this years government work report, for the first time, included stabilizing the housing and stock markets in its overall requirements, proposing greater efforts to promote their healthy development. This again highlights the important position of the stock market and reflects the attitude and determination of the Party Central Committee and the State Council to stabilize it. From "activating the capital market" and "striving to boost the capital market" to stabilizing the stock market, what has changed is the specific deployment for building and developing a sound stock market; what remains unchanged is the high importance attached to the stock market, the accurate grasp of the current economic situation, and the far-sighted planning for future development. Currently, my countrys economic and social development faces multiple tasks, including promoting reform, improving peoples livelihoods, and strengthening confidence. A stable and healthy stock market is urgently needed to stabilize development confidence, boost social expectations, and safeguard economic growth.

International oil prices hit a new high in the past seven years, a major dilemma in the northern hemisphere is getting worse

Oct 26, 2021 11:01

On Monday (October 11), international oil prices soared again, continuing the previous seven-week streak, because the energy crisis that plagued the major economies showed no signs of alleviation due to the recovery of economic activities and the limited supply of major producing countries .

GMT+8 15:21, NYMEX crude oil futures rose 1.94% to US$80.89/barrel; ICE Brent crude oil futures rose 1.58% to US$83.69/barrel. The two cities respectively refreshed their highs since October 31, 2014 to US$81.10/barrel and their highs since October 10, 2018 to US$83.88/barrel.


As more people who have been vaccinated get rid of the lockdown, economic recovery is gaining momentum, and coal and natural gas prices have soared, making oil more attractive as a fuel for power generation, driving the oil market higher. The two major crude oil markets have been rising for seven consecutive weeks.

Due to coal shortages, major Asian economies are experiencing power shortages. The Central Bank of India kept its policy interest rate unchanged last week, lowering its retail inflation forecast for the current fiscal year ending in March 2022 from 5.7% to 5.3%, but at the same time warned of the risks posed by rising fuel prices.

With the increase in heating demand, the energy crisis sweeping the world is exacerbating the predicament of wintering in the northern hemisphere. ING Economics said in a report: “Considering the expected demand boost due to the conversion of natural gas to oil, the market has shown interest in related demand adjustments.”

Kelvin Wong, a commodity analyst at CMC Markets in Singapore, said: "There is no new fundamental news that directly affects price trends in the day. Inter-market factors suggest that inflation expectations are further rising, which is supporting the bullish trend of oil prices."

The US Commodity Futures Trading Commission (CFTC) said on Friday (October 8) that as of the week of October 5, fund managers increased their net long positions in crude oil futures and options by 8,902 to 325,578.

The latest data from Baker Hughes of the United States shows that, taking advantage of rising prices, US oil and gas drillers added 5 new wells last week. This is the fifth consecutive week of increase in oil and gas drilling platforms.

The Organization of Petroleum Exporting Countries and its allies (OPEC+) decided last week to maintain the current policy of increasing production by 400,000 barrels per day per month. OPEC will release its monthly report later this week.

A person familiar with the matter said on Monday that Saudi Aramco has agreed to supply at least two North Asian buyers with additional crude oil in November, while meeting the full contract volume of the other three buyers. One of the sources said that the supply is expected to be fully sufficient this month.

Saudi Aramco will also reduce the price of crude oil sold to Asia for the second consecutive month in November, which shows that as OPEC+ gradually increases production before the end of the year, Saudi Arabia is eager to remain competitive.

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