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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.

Oil Extends Gains After News of EU Proposal For Russian Oil Ban

Haiden Holmes

May 05, 2022 09:53

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Oil prices rose up at the start of Asian trade on Thursday, extending gains from the previous session, following the European Union's proposal of further sanctions against Russia, including a six-month crude oil embargo.


By 0:02 GMT, Brent crude futures were up 22 cents to $110.36 a barrel. The price of WTI crude futures increased by 15 cents to $107.96 a barrel.


On Wednesday, both benchmarks increased by more over $5 a barrel.


The plan, announced by European Commission President Ursula von der Leyen and requiring unanimous approval by the EU's 27 member states to become law, calls for the phase-out of Russian crude oil supplies in six months and refined products by the end of 2022. Additionally, it seeks to prohibit EU corporations from providing shipping, brokerage, insurance, and financing services for the shipment of Russian oil within a month.


However, the EU confronts the challenge of finding alternatives as it imports approximately 3.5 million barrels of Russian oil and petroleum products daily and is also reliant on Moscow's gas supplies.


A few eastern European countries are concerned that the stop will not provide them with the time to adapt.


Market traders expected the Organization of the Petroleum Exporting Countries and Associated Producers' meeting on Thursday, dubbed OPEC+.


The group is poised to agree to increase monthly output objectives by 432,000 barrels per day (bpd) in June, according to four OPEC+ delegates.


According to the US Energy Information Administration, oil stockpiles increased marginally last week. Stocks increased by 1.2 million barrels as the US increased the amount of crude released from its strategic reserves.