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Iranian Foreign Ministry spokesman Bagaei: We need to pay attention to the other sides implementation of the agreement, and also negotiate on the nuclear issue and the lifting of sanctions.On June 18th, the Ministry of Industry and Information Technology and the Ministry of Commerce, together with the National Development and Reform Commission, the Ministry of Agriculture and Rural Affairs, and the National Energy Administration, organized the 2026 New Energy Vehicle Rural Promotion Campaign. The notice proposed strengthening integration with existing brand activities such as the "Thousands of Counties and Towns New Energy Vehicle Consumption Season." It selected a number of typical county-level cities with low new energy vehicle promotion rates but significant market potential to conduct offline special activities, innovatively creating offline experiential consumption scenarios such as vehicle display and test drives. Through live streaming and online consultations, it aimed to attract consumers from surrounding towns and villages to purchase new energy vehicles, thereby radiating and driving the development of offline physical retail. The notice also called for organizing new energy vehicle sales outlets, after-sales maintenance service companies, charging and battery swapping service companies, and insurance, credit, and other financial service companies to collaborate in rural areas, continuously optimizing the supporting environment for new energy vehicle application in rural areas and improving service levels. Finally, it promoted the application of intelligent connected vehicle technology, new charging and battery swapping technologies, integrated photovoltaic-storage-charging systems, and vehicle-to-grid interaction technologies in rural areas.On June 18th, the Ministry of Industry and Information Technology and the Ministry of Commerce, together with the National Development and Reform Commission, the Ministry of Agriculture and Rural Affairs, and the National Energy Administration, organized the 2026 New Energy Vehicle Rural Promotion Campaign. The notice proposes to further promote the trade-in program for automobiles in rural areas. The campaign will establish special trade-in zones, promote subsidy policies, and provide "one-stop" services such as old vehicle inspection, evaluation, and recycling, as well as subsidy application assistance, to further improve awareness and coverage of preferential policies and facilitate participation in subsidies for rural consumers. Rural consumers who trade in their old vehicles for new energy vehicles can apply for automobile trade-in subsidies according to policy requirements, without being subject to any restrictions on the number of subsidy eligibility slots.The yield on Japans 30-year government bonds rose 2.5 basis points to 3.755%.Sources say the British government is in advanced talks with Nissan to discuss financial support for the company’s plans to build a plant in Sunderland.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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