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On July 30th, at the CDEC Summit Forum held during ChinaJoy, Zhang Yijun, First Vice Chairman of the China Audio-Visual and Digital Publishing Association, released the "China Game Industry Report for January-June 2026". The report shows that in the first half of 2026, the actual sales revenue of the domestic game market reached 188.45 billion yuan, a year-on-year increase of 12.17%. As of June, the number of game users in my country reached 684 million, a year-on-year increase of 0.82%. In terms of overseas game exports, my country continued to maintain high growth, with the actual sales revenue of self-developed games in overseas markets reaching US$12.372 billion in the first half of the year, a year-on-year increase of 30.2%. Meanwhile, mini-games also showed impressive growth, with the revenue of mini-program mobile games reaching 31.66 billion yuan in the first half of the year, a year-on-year increase of approximately 36%. Zhang Yijun mentioned that the game industry saw significant growth in scale in the first half of the year, with AI technology fully penetrating the market and the game economy becoming increasingly robust.On July 30th, the worlds largest diameter high-speed rail tunnel boring machine, independently developed by my country, successfully traversed the Yangtze River, marking the completion of the tunnels waterway section. Once operational, the Chongtai Yangtze River Tunnel will end the history of Chongming Island, my countrys third largest island, being without high-speed rail access.U.S. Central Command: There are currently more than 50,000 U.S. troops deployed in the Middle East, maintaining a high level of vigilance and ready to fight at any time.On July 30th, it was reported that on July 29th, the Nansha Branch of the Guangzhou Municipal Planning and Natural Resources Bureau publicly auctioned the land use rights for a residential plot, requiring the successful bidder to commit to selling completed properties on one of the plots, with the local government providing support for installment payments of the land transfer fee. An official from the Nansha District Housing and Urban-Rural Development Bureau stated that this is the first residential project in Guangzhou to incorporate a "commitment to selling completed properties" into its land transfer conditions, effectively resolving the trust issue of "whether properties can be delivered on time." The district will next systematically expand the pilot program for this system, promoting it on more high-quality plots and accelerating the formation of replicable experiences.Japanese Chief Cabinet Secretary Minoru Kihara said on the 30th that the Kumamoto earthquake has resulted in 28 deaths.

Oil Prices Climb As The EU Bans Most Russian Oil Imports

Charlie Brooks

May 31, 2022 11:42

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Oil prices increased on Tuesday as the European Union (EU) agreed to reduce its oil imports from Russia by the end of 2022, fueling fears of a tightening market already stressed for supply due to rising demand ahead of the peak summer driving season in the United States and Europe.


At 00:54 GMT, Brent crude futures for July, whose contract expires on Tuesday, rose 33 cents to $122.50 a barrel. The more popular August contract increased 33 cents to $117.93.


Futures contracts for U.S. West Texas Intermediate (WTI) crude were trading at $117.31 a barrel, an increase of $2.24 from Friday's closing. Due to a U.S. holiday, there was no settlement on Monday.


European Union leaders agreed in principle to reduce oil imports from Russia by 90 percent by the end of 2022, breaking a stalemate with Hungary over the bloc's heaviest sanction against Moscow since the invasion of Ukraine three months ago.


Due to the fact that the market has already factored in the supply limits, according to some analysts, oil price improvements may be modest.


SPI Asset Management Managing Partner Stephen Innes told Reuters that the market had "already factored in EU self-sanction and much less Russian oil moving to Europe this year"


Innes continued, "I believe the market is pricing in some more Asia demand via China; nevertheless, the glaring issues are the soaring gasoline prices at the pump, which could lead to some demand destruction over the driving season."


Following the removal of COVID-19 restrictions, China's demand is anticipated to increase. Shanghai has announced the end of its two-month lockdown and will permit the vast majority of residents in China's largest metropolis to leave their homes and drive cars beginning Wednesday.


On the production side, OPEC+ is expected to adhere to its agreement from last year at its meeting on Thursday, with a moderate July output rise of 432,000 barrels per day, according to six sources from OPEC+. This is in response to Western calls for a more rapid increase to curb skyrocketing prices.


The Organization of the Petroleum Exporting Countries and its allies, led by Russia, argue that the oil market is in equilibrium and that recent price increases are unrelated to underlying fundamentals.


In 2022, oil prices on both sides of the Atlantic reached their highest level in more than a decade and are up more than 55 percent so far in 2022.

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