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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 rise in response to signs of increased demand

Charlie Brooks

Aug 26, 2022 10:46

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Oil prices rose in early trade on Friday amid signs of improving fuel demand, but gains were limited as the market awaited hints from the U.S. Federal Reserve chairman's speech regarding the likelihood of rate hikes.


At 0051 GMT, Brent crude futures climbed 46 cents, or 0.5%, to $99.80 per barrel. Futures for West Texas Intermediate (WTI) crude rose 48 cents, or 0.5%, to $93.00 a barrel. Each decreased by nearly $2 on Thursday.


Despite uncertainty over the pace of rate hikes in the United States to tackle soaring inflation, concerns about oil demand destruction diminished this week, leaving both benchmark oil contracts on track for weekly gains of approximately 3 percent.


ANZ Research analysts noted that statements made by numerous U.S. central bank officials before Chairman Jerome Powell's speech on Friday put a shadow over the economic outlook.


ANZ Research analysts observed in a research that there are indicators of a healthy market, citing optimistic traffic growth figures.


"According to the most recent TomTom Congestion Index data, traffic volumes grew dramatically throughout Asia Pacific, Europe, and North America during the week of August 24,"


ANZ also observed an increase in congestion in China, citing data from Baidu (NASDAQ:BIDU).


In addition to market anxiety anticipating Powell's speech, the probable return of Iranian crude to global markets restrained price gains.


Tehran is assessing Washington's reaction to a European Union-drafted final offer to revive a nuclear deal; the EU anticipates a response soon; however, it is doubtful how quickly Iranian oil exports will resume, even if a deal is reached.


If sanctions were lifted, it would take Iran almost a year and a half to reach its full capacity of 4 million barrels per day, an increase of 1.4 million bpd from its current output.

Nevertheless, the Organization of Petroleum Exporting Countries (OPEC) would consider decreasing output to offset any increase from Iran, according to sources from OPEC this week, after Saudi Arabia underlined the possibility of enacting cuts.

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