Real-time News

February 25th - The draft law on national fire and rescue personnel was submitted to the Standing Committee of the National People's Congress for its first review on February 25th. The draft law consists of 7 chapters and 47 articles, regulating the management of national fire and rescue personnel, clarifying recruitment and exit systems, and protecting the legitimate rights and interests of national fire and rescue personnel, specifying funding guarantees and salary benefits.

February 25 – Foreign Ministry Spokesperson Mao Ning held a regular press conference on February 25. A reporter from RIA Novosti asked, “US Republican Senator Ted Cruz said on Tuesday that the governments of Venezuela, Cuba, and Iran could be replaced by pro-US regimes within the next six months. Given China’s close relations with these three countries, what is China’s comment on this?” Mao Ning stated that China opposes interference in other countries’ internal affairs under any pretext and opposes any actions that violate the purposes and principles of the UN Charter or infringe upon the sovereignty of other countries.

February 25 – On February 25, Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A reporter from the German Press Agency (dpa) asked: Before departing for Beijing, German Chancellor Merz outlined five guidelines for his trip to China. Unlike the previous government, Merz did not refer to China as a "systemic rival," a term previously included in the previous government's so-called "China strategy." What is China's comment on this? Mao Ning stated that China and Germany are comprehensive strategic partners, having accumulated successful practices in healthy competition and integrated development. Sino-German cooperation is mutually beneficial, bringing tangible benefits to the people of both countries. Both sides should uphold the principles of mutual respect, equality, and win-win cooperation to promote greater development of Sino-German relations and jointly make greater contributions to world peace and prosperity.

On February 25th, the draft Social Assistance Law was submitted to the Standing Committee of the National People's Congress for its second review. The second draft further strengthens provisions regarding the protection of personal privacy and personal information: It adds a provision to the general provisions clarifying that social assistance work should protect personal privacy and personal information in accordance with the law. Simultaneously, based on the principle of "necessity," it limits the information required to be reported when applying for social assistance to "circumstances related to the application for social assistance"; and adds provisions regarding legal liability for disclosing personal privacy or personal information.

February 25th Futures News: On February 25th, the Shanghai Futures Exchange's energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 140,621 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 3,840 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 23,510 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 54,110 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,557,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 2,780 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

February 25th - During the recent 2026 Spring Festival holiday, the Chengdu Metro network operated a total of 55,400 train trips, serving 29.0842 million passengers, representing a year-on-year increase of 25.8%, with a daily average increase of 11.74% compared to last year.

Germany's final seasonally adjusted GDP growth rate for the fourth quarter was 0.3%, below the expected 0.30% and the previous reading of 0.30%.

Germany's final fourth-quarter GDP annualized rate, adjusted for working days, was 0.4%, below the expected 0.40% and the previous reading of 0.40%.

February 25th - Iraqi Oil Minister Hayyan Abdul Ghani announced on Tuesday that oil exports from the Kurdistan region are between 200,000 and 210,000 barrels per day, and Iraq is gradually approaching its export target. He added that Iraqi oil exports have reached "more than 3.4 million barrels per day," and efforts are currently underway to increase exports to "more than 3.45 million barrels per day." Iraqi law stipulates that approximately 3.5 million barrels of oil must be exported daily to meet government revenue targets.

February 25th - A senior finance official in Zambia, Africa's second-largest copper producer, stated that the country will utilize higher-than-expected mining revenues to launch a stabilization fund this year to ensure the government has a buffer in case the copper price surge subsides. Zambian Finance Minister Felix Nkulukusa called this mechanism an "emergency fund," and the government will complete the framework for the fund this year, after which surplus funds can be deposited. He stated that this will allow Zambia to smoothly complete its budget preparation when facing challenges in pricing and budgets. Previously, with soaring global copper demand and increased domestic copper production, Zambia's economy experienced a strong recovery, its currency performed best against the US dollar globally, foreign investors flocked to its government bond market, and its stock market index ranked among the top four globally in terms of gains over the past 12 months.

Iraqi Oil Minister: The West Qurna 2 oil field in Iraq currently produces 450,000 barrels per day. After Chevron takes over the oil field, the daily production is expected to reach 750,000 to 800,000 barrels.

February 25th Futures News: 1. WTI crude oil futures trading volume was 816,375 lots, an increase of 139,515 lots from the previous trading day. Open interest was 2,104,501 lots, an increase of 34,417 lots from the previous trading day. 2. Brent crude oil futures trading volume was 175,108 lots, an increase of 42,587 lots from the previous trading day. Open interest was 267,320 lots, a decrease of 2,583 lots from the previous trading day. 3. Natural gas futures trading volume was 492,310 lots, an increase of 94,425 lots from the previous trading day. Open interest was 1,625,540 lots, an increase of 26,493 lots from the previous trading day.

On February 25th, former Bank of Japan Governor Haruhiko Kuroda stated that given the already strong economic situation, it is necessary to continue raising interest rates and tightening fiscal policy. He warned that Prime Minister Sanae Takaichi's massive spending plan could trigger overheated inflation. Kuroda is known for his aggressive monetary stimulus policy launched in 2013, a key component of former Prime Minister Shinzo Abe's "Abenomics" reflation strategy. He stated that with robust economic growth and steady wage increases, the Bank of Japan may raise interest rates approximately twice a year in 2026 and 2027. "Today, Japan faces inflation and a depreciating yen. Japan needs to shift to tighter fiscal and monetary policies. The Bank of Japan must gradually raise interest rates to a neutral level. Fiscal policy must also be tightened. I have doubts about whether increasing spending and tax cuts are appropriate." Kuroda warned that expansionary fiscal policy could backfire, exacerbating inflationary pressures and pushing up bond yields.

The China Earthquake Networks Center officially reported that a magnitude 3.6 earthquake occurred at 14:00 on February 25 in Yingjiang County, Dehong Prefecture, Yunnan Province (24.72 degrees north latitude, 97.73 degrees east longitude), with a focal depth of 10 kilometers.

The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.0 occurred at 14:00 on February 25 near Yingjiang County, Dehong Prefecture, Yunnan Province (24.61 degrees north latitude, 97.81 degrees east longitude). The final result is subject to the official rapid report.