SHFE Adjusted Transaction Fees for Nickel Contracts

On 9th September, China’s Ministry of Ecology and Environment has issued a draft proposal for public consultation to expand the national carbon emissions trading system (ETS) to cover the cement, steel, and primary aluminium industries......

According to public data, Indonesia has approved a quota of 145 million wet tons of nickel ore (for next three year), and it is understood that before that, the quota for nickel ore was approved once a year.

The International Aluminum Institute (IAI) has recently initiated a program aimed at enhancing transparency and accountability regarding greenhouse gas emissions within its global membership. This initiative involves the issuance of annual public reports on the industry's overall emissions, with member companies obligated to report their progress in reducing CO2 emissions at specific facilities on an annual basis.

The U.S. Congress has prohibited the Department of Defense from purchasing batteries from six Chinese companies, including CATL and BYD, effective October 2027, aiming to decouple from China's supply chain. This part of the 2024 National Defense Authorization Act doesn't affect commercial purchases, allowing companies like Ford and Tesla to continue their collaborations. The move is aligned with efforts under the Inflation Reduction Act to phase out subsidies for electric vehicles with Chinese battery components, signaling a strategic push towards bolstering domestic manufacturing and reducing dependency on China's leading position in the global lithium battery market.

On December 20, 2023, the Customs Tariff Commission of the State Council issued an announcement that, in order to fully, accurately, and comprehensively implement the new development philosophy, and to accelerate the formation of a new development pattern, as well as to better fulfill the important functions of tariffs in coordinating both domestic and international markets and resources, adjustments will be made to the import and export tariffs on certain goods, effective from January 1, 2024, in accordance with the "Regulations of the People's Republic of China on Import and Export Duties" and other relevant provisions.

According to the Zhengzhou Housing Authority, the sales area of commercial housing in Zhengzhou in August was 947,600 square meters, a month-on-month increase of 3.37%, and a year-on-year increase of more than 10%.

On August 22nd, the National Development and Reform Commission and other ten departments issued a notice officially releasing the "Implementation Plan for Green and Low-Carbon Advanced Technology Demonstration Projects" (referred to as the "Implementation Plan").

Shanghai issued the “Shanghai Clean Air Action Plan (2023-2025) ” and proposed that by 2025, the total application volume of fuel cell vehicles will exceed 10,000, and pure electric vehicles will account for more than 50% of newly purchased vehicles by individuals.

The Ministry of Public Security held a press conference today and announced 26 measures to ensure high-quality development of public security services.