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Macro
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01
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[Trump Orders Suspension of Airstrikes on Iran]
On July 25 local time, US President Trump ordered US forces not to launch new airstrikes against Iran that day, ending a daily strike campaign that had lasted nearly two consecutive weeks and 13 straight days. Reports indicate that Trump had previously approved strike options against Iran submitted by the military daily, but upon receiving new operational plans on the 25th, he did not authorize their execution and instead directly ordered a suspension of airstrikes for the day. It is currently unclear whether this decision is a one-day temporary arrangement or signals that military operations will enter a suspension phase. Two informed sources stated that Trump's move was partly intended to leave more room for diplomatic negotiations and partly based on the view that the current airstrikes had largely reached the limit of their effectiveness without restarting large-scale military operations. However, the US military is still developing contingency plans for resuming large-scale military action and can resume strikes at short notice if Trump gives the order.
02
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[China Meteorological Administration Activates Level II Emergency Response for Major Meteorological Disasters]
Typhoon Hongxia, the 12th typhoon of this year, made landfall along the coast from Hong Kong to Huilai, Guangdong, between the night of the 25th and the morning of the 26th (at typhoon or severe typhoon level). The process is characterized by a long duration, high cumulative rainfall, and high disaster risk. The National Meteorological Center continued to issue an orange typhoon warning, a blue severe convective weather warning, and an orange rainstorm warning at 06:00 on July 25. After comprehensive assessment and emergency consultation, the China Meteorological Administration activated a Level II emergency response for major meteorological disasters (typhoons, rainstorms, and severe convective weather).
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Industry and Downstream
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01
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[Ministry of Water Resources and China Meteorological Administration Jointly Issue Red Mountain Flood Warning]
The Ministry of Water Resources and the China Meteorological Administration jointly issued a red mountain flood warning at 18:00 on July 26: It is expected that from 20:00 on July 26 to 20:00 on July 27, parts of western and southern Jiangxi, southeastern Hunan, central and northern Guangdong, central and northern Sichuan, western Shaanxi, southern and eastern Gansu, and southeastern Xinjiang will face a high likelihood of mountain flood disasters (orange warning). Among these areas, parts of southern Jiangxi and central and northern Guangdong are very likely to experience mountain floods (red warning). Other regions may also experience mountain flood disasters triggered by localized short-duration heavy rainfall. All localities are advised to carry out real-time monitoring, flood prevention warnings, and evacuation measures to mitigate risks.
02
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[Typhoon Hongxia's Movement Speed Slows After Landfall; Extreme Rainfall Possible in Parts of Guangdong, Hunan, and Jiangxi]
The Office of the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management continued to organize a joint consultation with the China Meteorological Administration, Ministry of Water Resources, Ministry of Natural Resources, Ministry of Industry and Information Technology, Ministry of Housing and Urban-Rural Development, and Ministry of Transport on the morning of the 26th. The meeting assessed the development trend of Typhoon Hongxia and heavy rainfall and studied the deployment of flood and typhoon prevention efforts in key regions. Chen Min, Director of the State Flood Control and Drought Relief Headquarters Office and Vice Minister of Emergency Management and Water Resources, presided over the consultation. The consultation noted that after landfall, Typhoon Hongxia's movement speed slowed, leading to prolonged wind and rain and a wide impact range. Localized extreme rainfall is possible in Guangdong, Hunan, Jiangxi, and other areas. The heavy rainfall zones are mostly mountainous and hilly with complex terrain, and nocturnal rain characteristics are pronounced, making them susceptible to flash floods and geological disasters. The flood and typhoon prevention situation remains severe and complex.
03
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[First Inspectorate Team of the 2026 Quality Inspection Launches Mission in Guangdong Province]
The Office of the National Leading Group for Coordinating and Promoting the Building of a Quality Power, together with relevant member units, recently formed a quality inspection team and stationed it in Guangdong Province to conduct quality inspections. The quality inspection team will adhere to a problem-oriented approach and source governance, carrying out spot checks and verification on outstanding quality issues in areas characterized by involution-style competition, prominent social concerns, and issues strongly reflected by the public, effectively promoting the enhancement of quality governance capabilities.
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Other Hot Topics
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⭕[Qatar Announces Resumption of Maritime Navigation]Qatar announced on July 25 that, starting from the 26th, it will fully resume maritime navigation activities for all types of vessels. Previously, Qatar had advised its citizens to suspend all maritime activities on July 12. The maritime authority stated in its announcement that all crew members and operators must strictly comply with national maritime regulations. Safety and security equipment must be thoroughly inspected and fully equipped before departure and during the voyage to ensure maritime navigation safety.
⭕[Traffic Control Tightened in Hong Kong-Zhuhai-Macao Bridge Waterway as Hongxia Approaches Landfall]Affected by squall lines ahead of Typhoon Hongxia, winds of force 10-11 were observed in the waters of the Hong Kong-Zhuhai-Macao Bridge. To ensure navigational safety, the Hong Kong-Zhuhai-Macao Bridge Maritime Bureau upgraded temporary traffic control measures for the bridge's navigation channel at 18:00 on the 25th. During the control period, all vessels are prohibited from traversing the Hong Kong-Zhuhai-Macao Bridge navigation channel. Currently, the Hong Kong-Zhuhai-Macao Bridge Maritime Bureau has entered an emergency typhoon response status, continuously tracking weather and hydrological changes in its jurisdiction, issuing timely safety warning information, and will dynamically adjust control measures based on wind conditions. The bureau advises relevant shipping companies and vessels to fully implement all typhoon precautionary measures to ensure the safety of life and property.
⭕[2026 Energy Industry Ecology Report Released; Wind and Solar PV Installations Surpass Thermal Power]The 2026 Energy Industry Ecology Report was officially released. The report shows that during the 14th Five-Year Plan period, China's wind and solar PV installations historically surpassed thermal power, and it leads the world in nuclear and biomass energy. During the 14th Five-Year Plan period, China's energy industry achieved synergistic development between ensuring a safe supply and pursuing a green, low-carbon transition. In 2025, total investment in national key energy projects exceeded 3.5 trillion yuan for the first time, up nearly 11% YoY. The new energy industry achieved leapfrog development, with wind and solar PV installations increasing from 530 million kW to 1.84 billion kW between 2020 and 2025. The total installed capacity of nuclear power in operation ranked first globally, and the installed capacity of biomass power generation has been the world's largest for seven consecutive years.
![[Domestic Iron Ore Brief] Next week, domestic ore price gains are expected to trail imported ore prices, and the price spread between domestic and imported ore is likely to continue narrowing.](https://imgqn.smm.cn/usercenter/aPBtI20251217171717.jpg)
