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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 jump as Saudi warns OPEC could limit output

Skylar Williams

Aug 23, 2022 11:10

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Following Saudi Arabia's warning that OPEC could decrease supply to reverse the recent slide in oil futures, oil prices inch higher on Tuesday.


Brent crude futures rose 32 cents to $96.80 a barrel as of 00:04 GMT on Tuesday, following a tumultuous Monday in which they fell more than $4 per barrel before recovering to trade near flat.


Futures on U.S. West Texas Intermediate crude rose 37 cents to $90.73 a barrel at 00:04 GMT.


This month, the benchmarks are between 12% and 8% lower.


Saudi Arabia, the Organization of the Petroleum Exporting Countries' (OPEC) leader, announced on Monday that OPEC is prepared to reduce production to correct the recent oil price decline caused by poor futures market liquidity and macroeconomic concerns, which have ignored the extremely tight physical crude supply.


According to the Saudi state news agency SPA, Energy Minister Prince Abdulaziz bin Salman told Bloomberg that OPEC+ has the means and flexibility to address difficulties.


Damage to a pipeline system moving oil from Kazakhstan to Russia has created more interruptions to Europe's energy supplies, intensifying concerns about a potential gas supply drop.


Monday, Iran accused the United States of stalling in efforts to resuscitate the 2015 nuclear agreement. This charge was denied by the White House, which stated that an agreement is closer than it was two weeks ago due to apparent Iranian flexibility.


Tuesday at 4:30 p.m. ET, market participants expected the release of industry data regarding U.S. supplies. According to a preliminary Reuters poll published on Monday, crude oil and gasoline inventories in the U.S. likely decreased last week, although distillate inventories likely increased.

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