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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.

U.S. Extends Deadline For Nuclear Power Rescue Program Applications

Haiden Holmes

May 19, 2022 10:08

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The U.S. Department of Energy announced on Wednesday that the deadline for nuclear power reactors to apply for federal assistance to keep them operational has been extended by 47 days, until July 5.


The program's initial phase aims to preserve two factories in California and Michigan. More than half of the country's carbon-free electricity is generated by the nuclear industry, which is why the Biden administration wishes to keep nuclear plants operational.


Two industry trade groups, Edison Electric Institute and Nuclear Energy Institute, requested the extension on behalf of their members in a letter to Energy Secretary Jennifer Granholm two days before the DOE's action.


Kathryn Huff, assistant secretary for nuclear energy at the Department of Energy, stated, "We received a request to extend the application period, which could keep at-risk reactors running and provide much-needed clean power to the grid."


Under the concept, known as the Civilian Nuclear Credit (CNC) program, owners of nuclear reactors slated for retirement would receive preference for the initial $6 billion in funding. The money for the CNC is derived from the infrastructure statute enacted last year.


The Michigan Palisades facility of Entergy Corp (NYSE:ETR), which may be eligible, is scheduled to close on May 31.


Entergy stated in an email that it was committed to closing the plant after CEO Leo Denault stated in an April earnings call that there are "major technical and commercial obstacles" to changing course at this time.


Denault stated at the time that Entergy would collaborate with "any eligible party interested in owning the plant and receiving federal funds."


The PG&E (NYSE:PCG)-owned Diablo Canyon facility in California is planned to close in 2025. Tuesday, a corporate representative stated that the utility had not yet determined whether or not to apply for the cash.


Ken Cook, president of the Environmental Working Group, criticized CNC as a "waste of scarce resources" that impedes the transition of the nation and California to renewable electricity.

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