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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

U.S. Tries to Prevent Methane Flaring And Leakage on Public Lands

Skylar Williams

Nov 29, 2022 11:53

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The administration of President Joe Biden issued recommendations on Monday to decrease methane leaks from oil and gas production on public lands, the most recent attempt by the federal government to cut emissions of the potent greenhouse gas.


The strategy accompanies the new regulations proposed by the United States government for the industry on private property. It would set monthly restrictions on flaring and require oil and gas firms to develop methane leak detection techniques for operations on federal lands, where around 10 percent of U.S. oil and natural gas production takes place, primarily in Western states.


According to the U.S. Bureau of Land Management, the limits will minimize gas waste and raise tax revenue.


In a statement, BLM Director Tracy Stone-Manning said, "This proposed rule is a straightforward, environmentally responsible approach to addressing the harm caused by wasted natural gas."


The major component of natural gas, methane, has a tendency to escape from drilling sites and pipelines. Over a 20-year period, it is roughly 80 times more efficient than carbon dioxide at trapping heat.


The Interior Department reported that production-related venting and flaring on public lands has increased considerably over the past few decades.


Flaring, or the purposeful burning of gas produced as an oil byproduct, generates carbon dioxide, whereas venting emits unburned methane. When oil drillers lack the pipes necessary to bring gas to market, or when gas prices are too low to justify transporting it, the gas is frequently flared or vented.


Under the proposed law, each application for a drilling permit would be required to provide a plan detailing how it will prevent methane waste. If the BLM judges the plan inadequate, it may refuse the permit application.


The Environmental Protection Agency, which has been formulating its own guidelines, should be in charge of federal methane management, according to a group representing the oil and gas industry.


According to Mallori Miller, vice president of government relations for the Independent Petroleum Association of America, there are several reasons to vent and flare gas, including safety concerns and connection challenges, and the issue is not as basic as this law portrays. When possible, it is always in a producer's best advantage to capture and sell a product on the market.


The new limits are the consequence of years of litigation over methane regulations enacted by the Obama administration. BLM said that its regulation focussed on waste prevention, a domain in which it has clear legal authority.


The adoption of the restrictions would cost oil and gas companies around $122 million per year, but they will recoup $55 million per year in gas. The BLM predicts that royalties on this gas will increase by $39 million per year.


The deputy director of the Center for Western Priorities, Aaron Weiss, remarked in an email, "There is no excuse for oil and gas companies to waste a publicly owned resource, much less a strong greenhouse gas like methane."