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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.

On indications of growing U.S. fuel demand, oil recoup some of its losses

Charlie Brooks

Aug 31, 2022 10:55

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Oil prices inched up on Wednesday after industry data revealed that U.S. gasoline inventories fell more than expected, recovering modestly after a 5% drop on Tuesday due to concerns that fuel demand may suffer as China tightens COVID-19 regulations and central banks hike interest rates.


Futures for U.S. West Texas Intermediate (WTI) crude oil rose 64 cents to $92.28 a barrel at 00:12 GMT, after plunging $5.37 per barrel the previous session owing to recession fears.


Brent crude futures increased 0.5%, or 48 cents, to $99.79 a barrel on Wednesday, erasing Tuesday's loss of $5.78 per barrel. Wednesday marks the conclusion of the contract for October. The contract for November climbed 0.6%, or 61 cents, to $98.45 per barrel.


For the week ending August 26, gasoline inventories declined by around 3.4 million barrels, while distillate inventories, which include diesel and jet fuel, decreased by about 1.7 million barrels.


The fall in gasoline supplies was nearly three times more than the average decrease of 1.2 million barrels forecast by eight Reuters analysts. They expected distillate stockpiles to decrease by 1 million barrels.


In contrast to analysts' predictions of a fall of around 1.5 million barrels, API data revealed an increase of approximately 593,00 barrels.


Concerns that several of China's largest cities, including Shenzhen and Dalian, are implementing lockdowns and business closures to combat COVID-19 at a time when the world's second-largest economy is already experiencing sluggish growth and limited price increases.


ANZ Research analysts noted in a note that mood is negatively impacted by the spread of COVID-19 in China.


Three sources told Reuters on Tuesday that the worst violence seen in Baghdad in years had no effect on Iraqi oil exports. Tuesday, violence subsided when the popular cleric Moqtada al-Sadr ordered his followers to halt their marches.

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