Real-time News

July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.

July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.

On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.

July 11th - Industry insiders stated that historically, during periods of high demand in the memory chip industry, manufacturers tend to simultaneously expand production capacity, leading to a concentrated release of new capacity, a price crash, and industry-wide losses. Subsequently, manufacturers collectively reduce capital expenditures, and when demand recovers, another boom occurs – this cycle constitutes the industry's unique cyclical pattern. Since reaching its peak in late June, US memory chip stocks have experienced a collective correction due to concerns about overcapacity, triggered by news such as Meta's sale of computing power. Data shows that industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital have all seen their stock prices fall by more than 20% in the past few weeks. Analysts point out that the underlying logic supporting current demand for memory chips is facing a reassessment, with the core variable being whether the technological gap between various AI large-scale models will continue to narrow. Analysts also pointed out that the memory chip industry is undergoing a profound change in its business model: in the past, memory was more like a commodity, with prices fluctuating with the market, and contracts were mostly on a quarterly or annual basis; now, cloud vendors and AI data centers are increasingly signing long-term supply agreements with original equipment manufacturers for three to five years, with price ranges, minimum purchase quantities, and customer deposits, in order to ensure critical supply.

July 11 - Due to the impact of Typhoon Bavi, the ninth typhoon of this year, the Hangzhou Bay Bridge will be closed in both directions starting at 19:30 today, prohibiting all vehicles from passing through.

The CEO of Italian oil company Eni said that if the Middle East conflict continues, the oil market may break out of its current range in early 2027.

July 11th - Typhoon Bavi, the ninth typhoon of the year, is expected to impact eastern Hubei, Jiangxi, and Anhui provinces along the middle and lower reaches of the Yangtze River from July 11th to 13th. According to the Yangtze River Maritime Safety Administration, to ensure typhoon safety, following the requirements of "early assessment, early warning, early deployment, early inspection, and early evacuation," the administration raised the typhoon emergency response level for the Anhui-Sichuan section of the Yangtze River main channel to Level II at 18:00 on July 11th.

July 11 – The European Union is developing a “solidarity tool” to support businesses in shifting supplies of critical goods and to cushion the impact of trade conflicts. According to sources, this tool requires funding, and member states are currently negotiating the EU’s next multi-year budget. The exact amount needed is unclear, but given the size of the industries and trade involved, the funding requirements are likely substantial. Some member states are currently pushing for spending cuts. The tool was developed by the EU’s executive body. Sources indicate that national envoys have been briefed on the tool this week.

The China Earthquake Networks Center officially determined that a magnitude 3.3 earthquake occurred at 19:14 on July 11 in Eryuan County, Dali Prefecture, Yunnan Province (26.12 degrees north latitude, 99.86 degrees east longitude), with a focal depth of 11 kilometers.

Russian Deputy Prime Minister: We will begin importing petroleum products this month.

Russian Deputy Prime Minister: The ban on diesel exports is to meet domestic market demand, and we will expedite the repair work on the damaged refineries.

GFZ (German Center for Geosciences): A 6.6-magnitude earthquake has occurred in the South Sandwich Islands region.

July 11 – On the morning of July 11, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management continued to organize a joint consultation with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Industry and Information Technology, and the Ministry of Transport to assess the development trends of the typhoon and heavy rainfall, and to deploy flood and typhoon prevention work in key areas. The State Flood Control and Drought Relief Headquarters maintained a Level II emergency response for flood and typhoon prevention in Zhejiang and Fujian, and activated a Level IV emergency response for flood and typhoon prevention in Shanghai, Jiangsu, Jiangxi, Anhui, and Sichuan provinces (municipalities). The State Flood Control and Drought Relief Headquarters Office dispatched an additional working group to Anhui to assist and guide flood and typhoon prevention work.

According to Iranian state media, Iran's Supreme Leader will release information regarding the funeral of the assassinated former leader in the coming hours.

Russian Ministry of Defense: Russian troops have taken control of Bachivsk in the Sumy region of Ukraine.

Former CEO of Virgin Financial, the UK's largest retail bank, Gaddia, will be appointed as the chairman of the UK's audit regulator.

The Ukrainian military claims it hit 21 Russian oil tankers overnight.

The Kremlin: Nuclear weapons will be used if there is any threat to the existence of the Russian state. Otherwise, they will not be used. Everything else is pure speculation.

The Kremlin: On one side is Russia, and on the other are Ukraine, several European countries, and the United States, who have supplied Ukraine with millions of tons of weapons. This is no longer a special military operation; it is a full-scale war.

The Kremlin: When Ukrainian President Zelenskyy came to power, he promised the people to end the conflict—his initial promise. He can still end the conflict by making responsible decisions—withdrawing troops from the Donbas region, from areas now annexed by Russia, and by recognizing the status quo as a legal fact.