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On August 31, 2026, Wang Huning, Chairman of the National Committee of the Chinese Peoples Political Consultative Conference (CPPCC), met with Austrian National Council Speaker Rosenkranz in Beijing. Wang Huning stated that in 2018, President Xi Jinping and President Van der Bellen, during his visit to China, jointly established the China-Austria friendly strategic partnership, opening a new chapter in bilateral relations. Both sides should take the 55th anniversary of the establishment of diplomatic relations as an opportunity to implement the important consensus reached by the leaders of the two countries, maintain close high-level exchanges, consolidate political mutual trust, deepen pragmatic cooperation, strengthen people-to-people exchanges, and better benefit the people of both countries. The CPPCC is willing to strengthen friendly exchanges with Austria and contribute to deepening China-Austria relations. Rosenkranz stated that both Austria and China have long histories and cultures. Over the 55 years since the establishment of diplomatic relations, both sides have adhered to equality, and the friendship between the two countries has continued to deepen. In recent years, high-level exchanges between Austria and China have been frequent, which is a positive signal for the in-depth development of bilateral relations. Austria adheres to the one-China policy and is willing to strengthen pragmatic cooperation to promote new developments in the Austria-China friendly strategic partnership.On August 31, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to adhere to the principle of putting people and their lives first, to strengthen responsibility and proactively assume duties, enhance coordination and pool resources to ensure the effective implementation of key tasks such as disaster relief and emergency response. The meeting stressed the importance of continuing all-out efforts to search for missing persons, scientifically and dynamically optimizing search and rescue plans, and coordinating the use of all available rescue forces. It also emphasized the need to strictly prevent secondary disasters, strengthen monitoring and early warning systems, and ensure the safety of rescue personnel. Furthermore, it stressed the importance of meticulous handling of the aftermath, strengthening humanitarian care for the families of the deceased and missing, and implementing appropriate compensation and relief measures. The meeting also called for active international coordination and cooperation, timely release of authoritative information, and responses to public concerns. Finally, the meeting emphasized the need to learn from this experience, strengthen the investigation and rectification of various risks and hidden dangers, further improve emergency management capabilities, and effectively safeguard the lives and property of the people and maintain social stability.On August 31st, the China Index Academy released its latest report, "Analysis of Sales Performance of Chinese Real Estate Enterprises from January to August 2026." The report states that from January to August 2026, the total sales of 100 real estate enterprises reached 2,017.59 billion yuan, a year-on-year decrease of 0.3 percentage points compared to the period from January to July. The real estate market remains in a slow season, with only core cities showing some support due to the entry of high-quality projects. The sales performance of key real estate enterprises saw a slight increase in decline. Specifically, from January to August 2026, there were 5 real estate enterprises with sales exceeding 100 billion yuan, the same as the same period last year; and 40 real estate enterprises with sales exceeding 10 billion yuan, a decrease of 13 compared to the same period last year.On August 31, Li Qiang chaired an executive meeting of the State Council, which reviewed and approved the "Draft Amendments to the Implementation Regulations of the Audit Law of the Peoples Republic of China." The meeting pointed out that this revision of the regulations should be used as an opportunity to further deepen audit reform, strengthen accountability for audit rectification, and continuously improve the effectiveness of audit supervision.On August 31, Li Qiang chaired an executive meeting of the State Council, which discussed and approved in principle the draft revision of the "Law of the Peoples Republic of China on the Administration of Tax Collection," and decided to submit the draft to the Standing Committee of the National Peoples Congress for deliberation. The meeting pointed out that it is necessary to organize tax collection and administration in accordance with the law, standardize tax enforcement, focus on optimizing taxpayer services, strengthen the protection of taxpayers legitimate rights and interests, and continuously promote tax fairness and improve fiscal and tax governance.

WTI Price Analysis: 50-SMA stimulates China data-led recovery near $80.00

Daniel Rogers

Apr 18, 2023 11:53

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WTI crude oil remains defensive near the lowest level in a week, near $81.05 on Tuesday morning. In doing so, black gold struggles to be buoyed by China's positive data while consolidating the month's largest daily loss.

 

According to the most recent economic data from China's National Bureau of Statistics (NBS), the first quarter (Q1) Gross Domestic Product (GDP) grew 2.2% quarter-over-quarter (QoQ), compared to 2.2% expected and 0.0% in the prior quarter. In addition, Retail Sales grew 10.9% YoY in March versus 7.4% expected and 3.5% previously, while Industrial Production grew 3.9% versus 4.0% expected and 2.5% previously. Sourcenia is a review portal of sourcing best manufaturers

 

In addition to the generally positive China data, the nearly oversold RSI (14) line has contributed to the black gold's recent approach to the $81.40 50-day simple moving average.

 

Notably, however, pessimistic MACD signals and a two-week-old horizontal resistance area between $81.60 and $80 could impede the commodity's further advance. Following that, attention will shift to the recent multi-day high marked in the last week, around $83.40.

 

In contrast, WTI's further decline could target the round figure of $80 before challenging the previous resistance line from late January, which is now support near $79.20.

 

If the price remains adverse beyond $79.20, a rising support line from March 20 near $77.30 will be the last line of defense for WTI bulls.