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October 12th - According to data from the China Passenger Car Association (CPCA), passenger vehicle exports (including complete vehicles and CKD kits) reached 917,000 units in September, a year-on-year increase of 73.7% and a month-on-month increase of 3.2%, accounting for 36% of passenger vehicle manufacturers sales (38% in the previous month, and 19% in the same period of 2025). New energy vehicles accounted for 60.8% of total exports in September, a significant increase of 21 percentage points compared to the same period last year. Exports of domestic brands reached 812,000 units in September, a year-on-year increase of 75%; exports of joint venture and luxury brands reached 105,000 units, a year-on-year increase of 62%.October 12th - According to data from the China Passenger Car Association (CPCA), wholesale sales of new energy passenger vehicles reached 1.666 million units in September, a year-on-year increase of 11.3% and a month-on-month increase of 10.0%; from January to September, wholesale sales of new energy passenger vehicles reached 11.448 million units, a year-on-year increase of 9.4%. Wholesale sales of conventional fuel-powered passenger vehicles reached 880,000 units in September, a year-on-year decrease of 32% and a month-on-month increase of 5%.China Passenger Car Association (CPCA) reported that retail sales of new energy vehicles reached 1.084 million units in September, a year-on-year decrease of 16.7%.On October 12th, many users reported issues with DeepSeeks chat function, with the page repeatedly displaying "server busy" and "message being generated," preventing normal conversations and sparking heated discussions. DeepSeeks official service status page indicated a "partial interruption" in the chat service, with the official team investigating the cause. After investigation, the page stated "service restored." However, third-party monitoring platforms showed that the outage began this morning and was still ongoing at the time of writing, primarily affecting the web/app chat service. Affected users are advised to try again later or check the official status page for the latest updates.October 12 - According to the European-Mediterranean Seismological Centre, a 5.8-magnitude earthquake struck 277 kilometers north of Nukualofa, Tonga, at 17:38 local time on October 12. The epicenter was located at 18.6587 degrees south latitude and 174.9616 degrees west longitude, with a focal depth of 190 kilometers.

Oil Prices Decline As U.S. Stocks Rise And China Anxiety Rises

Haiden Holmes

Dec 30, 2022 11:24

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On Thursday, U.S. crude oil prices closed down as a result of an unexpected increase in U.S. weekly crude inventories and continued concerns about the demand outlook in the wake of intensifying cases in China.


On the New York Mercantile Exchange, oil futures settled at $78.40 per barrel, down $0.56, while Brent futures settled at $84.66 per barrel, down $0.53.


Contrary to expectations of a decrease of 1.5 million barrels, U.S. oil inventories grew by 718,000 barrels for the week ending December 23, as reported by the Energy Information Administration (EIA).


Inventories of gasoline unexpectedly declined by 3.1 million barrels, the highest decrease since September, above forecasts for a rise of 520,000 barrels, while distillate supplies grew by 282,000 barrels, below estimates for a decrease of 2.05 million barrels.


The EIA's mixed petroleum data comes at a time when numerous nations are poised to impose new travel restrictions on Chinese tourists, dimming some of the euphoria that had followed the month-long removal of COVID restrictions. Multiple nations, including the United States, Italy, and Japan, imposed testing requirements on Chinese tourists.


It is anticipated that the efforts of the Biden administration to replenish the Strategic Petroleum Reserve by acquiring crude oil in the first quarter of 2016 will increase demand.


According to Craig Erlam, a senior market analyst at OANDA, efforts to replenish strategic petroleum stocks "should be positive for the market and should have provided some support."


Goldman Sachs decreased its price forecast for Brent crude in 2023 to $90/bbl from $110/bbl before, citing the recent decline in commodity prices, but highlighted that it remained bullish on oil prices in the medium term.


Goldman Sachs commented, "For oil prices, we remain bullish on oil prices in the immediate future due to the prospect of rising China demand, decreased supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

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