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On September 4th, the State Radio Office issued a notice regarding the pilot evaluation of third-party agencies for domestic satellite network coordination (2026-2027). The notice outlines three key aspects: First, it clarifies the applicable conditions for the evaluation, allowing for the use of third-party assessments to resolve issues such as unreasonable coordination requirements, unclear standards, disputed technical analyses, and ambiguous frequency compatibility conclusions, where repeated coordination and consultation fail to reach a consensus. Second, it outlines the evaluation procedures, including the selection of third-party agencies, the implementation of the evaluation, and the application of the evaluation results. Third, it specifies the requirements for the evaluation, including objective and impartial assessment, strict confidentiality, prohibition of illegal or irregular assessments, and timely feedback of opinions and suggestions.September 4th - According to the latest tax data released by the State Taxation Administration, since the beginning of this year, tax authorities have implemented various tax and fee reduction policies to support urban renewal, resulting in a total tax and fee reduction and refund of 487 billion yuan in the first half of the year. Specifically, in the first half of the year, policies such as exempting public rental housing from value-added tax and deed tax, and continuing preferential policies on personal income tax for residents purchasing new homes to support meeting the rigid and improved housing needs of the public, resulted in tax and fee reductions and refunds of 209.8 billion yuan. Policies such as allowing a certain percentage of investment in special equipment for environmental protection, energy conservation, water conservation, and safe production to be deducted from corporate income tax payable, and exempting urban public transport companies from vehicle purchase tax on public buses and trolleybuses, to support the construction of green and low-carbon cities, resulted in tax and fee reductions and refunds of 168.4 billion yuan.On September 4th, according to Qichacha APP, Wuhan Xinrongguang Technology Co., Ltd. was recently established, with Sun Peng as the legal representative and a registered capital of 13.2 billion yuan. Its business scope includes integrated circuit design; integrated circuit chip design and services; integrated circuit chip and product manufacturing; and power electronic component manufacturing. Qichachas equity penetration analysis shows that the company is jointly held by Wuhan Xinxin Integrated Circuit Co., Ltd. (a subsidiary of Yangtze Memory Technologies Co., Ltd.), Wuhan Optics Valley Semiconductor Industry Investment Co., Ltd., and China Internet Investment Fund (Limited Partnership), among others.On September 4th, at the JD Supermarket 12th Anniversary Press Conference, it was announced that in the first half of 2026, JD Supermarket achieved double-digit growth in revenue and a 15% year-on-year increase in users, adding over 10 brands with sales exceeding 100 million RMB, over 100 best-selling products with sales exceeding 10 million RMB, and over 1,000 best-selling products with sales exceeding 1 million RMB. Addressing common challenges faced by brands and merchants, such as rising traffic costs and intensified price competition, Niu Yinghua, Vice President of JD Group and President of JD Retail Supermarket Business Group, announced four major initiatives at the conference: product co-creation, user co-creation, channel co-creation, and efficiency co-creation.September 4th - As a major global player in the power battery industry, my country has recently been actively promoting the development of international standards in key areas such as power battery thermal management and the recycling of retired batteries within the framework of international organizations like the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), based on its industrial practices. This aims to provide standardization support for the coordinated development of the global power battery industry. Going forward, the State Administration for Market Regulation will guide more professionals in the production, use, and recycling of power batteries to participate in international standards research, deepen practical exchanges on standardization with other countries, and contribute to the high-quality and sustainable development of the new energy industry throughout its entire lifecycle.

WTI crude oil drifts above $80.00 amidst a US Dollar rebound and supply shortage concerns

Alina Haynes

Apr 10, 2023 14:16

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In the early hours of Monday, purchasers of WTI crude oil struggled to maintain the price above $80.70 as risk aversion and hawkish Fed forecasts bolstered the US Dollar. However, threats to Oil supplies, primarily emanating from China and OPEC+, appear to keep purchasers of black gold optimistic.

 

US Dollar Index (DXY) reverses a four-day downtrend near 102.25 despite the inability of US Treasury bond yields to recover due to recession concerns. However, US 10-year and 2-year Treasury bond yields remain under pressure near 3.37 percent and 3.95 percent, respectively. In doing so, the benchmark bond coupons extend the previous day's losses and illustrate the market's flight to protection in response to concerns of an economic decline.

 

In spite of this, the recent disappointing US data reignite concerns of a recession in the world's largest economy and challenge the optimists in the energy sector. However, the positive US Nonfarm Payrolls (NFP) data enabled Fed hawks to return to the table and renew demands for a 0.25 percentage point rate hike in May. The same constrains the value of the US dollar and stimulates demand for WTI crude oil.

 

On the other hand, geopolitical concerns surrounding China, particularly after the dragon nation's military exercises near Taiwan, combine with last week's unexpected OPEC+ production cut to keep Oil purchasers optimistic.

 

China's willingness to defend the global economy through robust monetary and fiscal easing at home also enables Oil purchasers to maintain optimism in the face of optimism among the world's largest Oil consumers.

 

The Easter Monday holiday in spot markets may limit Oil price movements, but the investors appear to be out of steam, so US inflation and Fed Minutes will be closely monitored for signs of a pullback.


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