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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.

Oil prices fluctuated as the possibility of an OPEC output cut alleviated demand worries

Skylar Williams

Aug 29, 2022 11:32

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Oil prices were mixed on Monday as investors weighed the likelihood that the Organization of Petroleum Exporting Countries (OPEC) will reduce output to support prices against the Federal Reserve chairman's statement that the United States will experience a period of sluggish economic growth "for some time."


U.S. West Texas Intermediate (WTI) oil futures rose 2 cents to $93.08 per barrel at 00:03 GMT, extending Friday's gain.


Brent crude futures dropped 27 cents, or 0.3%, to $100.72 a barrel, erasing the prior session's gains.


Powell noted in a speech on Friday that limiting inflation "is likely to require a sustained period of below-trend growth" and would "bring some pain to consumers and companies," which rocked equity markets and strengthened the currency.


In Monday's early trading, the dollar index rose 0.3% to 109.16. A rising dollar is detrimental to the oil market because it raises the price of petroleum for buyers holding foreign currencies.


However, oil prices have been bolstered by statements from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and their allies, known collectively as OPEC+, that they may decrease supply in order to achieve market balance.


Friday, a source familiar with the matter told Reuters that the United Arab Emirates and Saudi Arabia share the same output policy philosophy, while the Omani oil ministry declared that it supports OPEC+ efforts to maintain market stability.


Sources said last week that OPEC would consider decreasing output to offset any increase from Iran should oil sanctions be reinstated if Tehran chose to revive a nuclear accord.


As U.S.-Iran nuclear discussions continue, traders' focus will return to supply and demand, according to CMC Markets analyst Tina Teng.


In a report, experts from ANZ Research claimed that signs of growing demand are also supporting prices, in part due to higher natural gas costs in Europe, which have spurred power generators and industrial users to switch to diesel and fuel oil.

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