Real-time News

March 22nd - A new round of refined oil price adjustments will take place in China at midnight on March 23rd. According to Longzhong Information, the expected increase is around 2000 yuan/ton. For a 70-liter fuel tank, filling up a car will cost approximately 106 yuan more. For a 50-liter tank, the increase is expected to be around 75 yuan more. This will mark the fifth consecutive price increase this year, potentially the largest increase this year. However, the final adjustment amount will depend on the official data released by the National Development and Reform Commission that evening.

On March 22, Hong Kong Financial Secretary Paul Chan Mo-po stated that during his recent visit to Beijing, he met with several central government ministries and financial regulatory agencies. They engaged in in-depth discussions on the macroeconomic situation, the current state and development of the financial market, and how Hong Kong can better play its role in the new phase of the nation's 15th Five-Year Plan. Chan and his delegation deeply appreciated the concern, understanding, and support shown by the various ministries and agencies for Hong Kong's situation. They also realized the need for a more accurate understanding of the nation's development direction, key areas, and strategies in order for Hong Kong to accelerate its integration into and serve the overall national development strategy, and to maximize its own advantages.

On March 22, Premier Li Qiang attended the opening ceremony of the China Development Forum Annual Meeting 2026 in Beijing and delivered a keynote speech. Li Qiang stated that China's competitive advantages in related industries are not achieved through subsidies or protection, but rather stem from persistent efforts to deepen reforms and promote innovation-driven development. Most importantly, it comes from the hard work and dedication of the Chinese people and enterprises. While we oppose disorderly and irrational cutthroat competition, under market economy conditions, healthy competition can unleash greater development momentum. China will continue to strive to maintain a fair and competitive market order and is willing to strengthen communication and cooperation with all parties to jointly promote the stability and security of global supply chains.

On March 22, Finance Minister Lan Fo'an stated at the China Development Forum 2026 that fiscal policy will place greater emphasis on investing in people. During the 14th Five-Year Plan period, fiscal spending on people's livelihoods will approach 100 trillion yuan, accounting for over 70% of total fiscal expenditure, promoting the construction of the world's largest education system, social security system, and healthcare system. In the next five years, we will adhere to the principle of doing our best within our capabilities, continuing to increase efforts to guarantee and improve people's livelihoods, reasonably increasing the proportion of public service expenditures in fiscal expenditures, and increasing the proportion of government investment in livelihood-related areas.

Japanese Foreign Minister Toshimitsu Motegi: If a ceasefire agreement is reached, Japan may consider participating in mine-clearing operations in the Strait of Hormuz.

On March 22nd, Suzhou officially launched its 2026 new car purchase subsidy policy. From March 21st to June 30th, individual consumers who purchase new passenger vehicles (excluding commercial vehicles and vehicles with official license plates) from participating car dealerships in Suzhou will receive subsidies according to relevant standards. For vehicles priced between 50,000 RMB (inclusive) and 100,000 RMB (exclusive), a subsidy of 1,000 RMB will be provided for gasoline vehicles and 2,000 RMB for new energy vehicles; for vehicles priced between 100,000 RMB (inclusive) and 200,000 RMB (exclusive), a subsidy of 3,000 RMB will be provided for gasoline vehicles and 4,000 RMB for new energy vehicles; for vehicles priced between 200,000 RMB (inclusive) and 400,000 RMB (exclusive), a subsidy of 5,000 RMB will be provided for gasoline vehicles and 6,000 RMB for new energy vehicles; and for vehicles priced at 400,000 RMB (inclusive) and above, a subsidy of 6,000 RMB will be provided for gasoline vehicles and 7,000 RMB for new energy vehicles. The subsidy application platform is available on the "Su Zhoudao" APP (expected to launch in late April).

On March 22, Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Affairs Commission and Director of the Office of the Central Rural Work Leading Group, stated at the China Development Forum 2026 that, facing structural changes such as population decline, aging, and low birth rates, the 15th Five-Year Plan outlines, for the first time, a separate section on high-quality population development. China emphasizes safeguarding and improving people's livelihoods through high-quality development, and expanding the space for high-quality development by meeting people's needs. In today's era of artificial intelligence, facing ubiquitous impacts and infiltration, a comprehensive approach is needed, adhering to the principle of "technology for good," promoting high-quality and full employment, optimizing income distribution structure, improving the social security system, promoting social fairness and justice, and continuously enhancing the people's sense of gain, happiness, and security.

March 22nd - WeChat launched an official crayfish plugin on March 22nd. Tencent's Zhang Jun stated: "WeChat has updated its plugin to support crayfish integration. What WeChat strived for all along was to become a tool connecting people, devices, and services. This concept remains valid. This connection allows everyone to better manage their crayfish."

A spokesperson for the Saudi Ministry of Defense said that four drones were intercepted in the eastern region.

March 22 – Shougang Group and FAW Group have recently completed the material development and application verification of 2.4 GPa (2400 MPa) grade hot-formed steel. The successful development of this material marks my country's entry into the ranks of global leaders in the application of high-performance automotive steel. The 2.4 GPa grade hot-formed steel will be first applied to key safety structural components of Hongqi models.

March 22 – The China Development Forum Annual Meeting 2026 opened in Beijing on the 22nd. Before the opening ceremony, Jeffrey Sachs, a professor at Columbia University and a renowned economist, commented on the war with Iran, calling it a "shameful war" waged by the United States and Israel, which will severely impact the global economy, but its impact on China will be limited. He emphasized that if the war continues, it could trigger a global economic crisis. This war has not only closed the Strait of Hormuz but is also destroying the energy infrastructure of Gulf states. "All countries in the world should tell these two countries, stop, go home! You have abused the international system, you are reckless, you have violated the UN Charter, stop your aggression."

The Israeli military says it is currently conducting airstrikes against Tehran.

March 22 - According to reports from the British military, a Royal Navy nuclear-powered submarine, capable of launching cruise missiles, has arrived in the Arabian Sea on the evening of March 21, local time.

On March 22, Elon Musk announced that SpaceX and Tesla will jointly unveil the TERAFAB project at approximately 8 PM Central Time (9 AM Beijing Time tomorrow) and stream it live on the SpaceX platform. The project aims to achieve over 1 terawatt of computing power annually (covering logic chips, memory chips, and packaging), with approximately 80% used in space and approximately 20% for ground applications.

According to Al Jazeera, a senior Iranian official said that Iran is not responsible for the missile attack on Diego Garcia and was not behind it.

Market news: Iran has just launched a new round of missiles at Israel.

International Atomic Energy Agency: Information from the Dimona region indicates that no abnormal radiation levels have been detected.