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February 2nd, Futures News: As of 20:30 Beijing time, WTI crude oil futures fell 4.68%, and US natural gas futures fell 16.84%.New York gold futures were the first to rebound, rising above $4,800 per ounce.European mining stocks turned positive, erasing earlier losses.On February 2nd, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Shandong Province. He emphasized the need to thoroughly implement General Secretary Xi Jinpings important instructions on economic and social development this year and during the 15th Five-Year Plan period, adhering to a combination of short-term and long-term goals, ensuring a good start, proactively implementing various policies, and resolutely implementing all decisions and deployments of the CPC Central Committee to promote development, improve peoples livelihoods, and enhance long-term growth potential more solidly and effectively. Governments at all levels should, in accordance with the decisions and deployments of the CPC Central Committee, take proactive measures, leverage local advantages, strive to cultivate new growth points, and ensure that all work is implemented effectively as soon as possible. They should further strengthen their service awareness, continuously improve government efficiency, implement various policies benefiting enterprises, and address their concerns and demands. Focusing on promoting high-quality development, and in conjunction with the formulation and implementation of the 15th Five-Year Plan, they should deeply plan a number of major initiatives and projects, making greater progress in key areas such as developing new productive forces according to local conditions, strengthening the domestic economic cycle, and promoting employment and income growth for residents. Li Qiang stressed that local governments should adhere to the principle of seeking truth from facts and pay attention to systematic integration when formulating the 15th Five-Year Plan, especially the formulation of grassroots special plans, which should be concise and precise, avoiding excessive ambition.February 2nd - According to statistics from the Shenzhen Real Estate Intermediary Association, a total of 6,802 second-hand homes were sold in Shenzhen in January 2026, representing a 2.9% increase month-on-month and a significant 45.5% increase year-on-year, marking a new high in nearly 10 months. This marks the 11th consecutive month that sales have exceeded 5,000 units, indicating that the market has emerged from its trough, buyer confidence has significantly recovered, and a solid foundation has been laid for a subsequent "mini-boom" in the market.

Berlin desires a 2% reduction in gas consumption via new legislation

Skylar Williams

Aug 15, 2022 10:50

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Officials announced on Friday that new measures to reduce Germany's gas use by 2% will require public and private consumers to make significant cuts as Europe faces a sharp decline in Russian gas supply.


Economy Minister Robert Habeck told Süddeutsche Zeitung last week that the state would require energy-saving measures including heating public buildings to no more than 19 degrees Celsius (66.2 degrees Fahrenheit).


According to ministry officials who spoke with Reuters, corridors and huge halls should not be heated at all, with the exception of hospitals and nursing homes. Private pools may no longer be heated, and building and memorial lighting should be turned off to conserve electricity.


Additionally, illuminated advertisements must be turned off daily between 22:00 and 6:00 a.m.


13% of Germany's energy comes from fossil fuels, and approximately half of the country's homes utilize gas for heating. Gas also accounts for one-third of the industrial energy consumption. Russia has supplied fifty percent of this gas in recent years.


To get through the winter without resorting to gas rationing, Germany must reduce its gas use by 20 percent compared to before the crisis sparked by the Russian invasion of Ukraine.


The replacement of gas-fired power plants with coal-fired power plants is predicted to reduce consumption by an additional 3 to 5 percent. As a result of rising petrol prices, consumption has reduced by as much as 8 percent.


Germany will also rely on gas storage facilities and liquid natural gas (LNG) terminals during the peak winter months of gas use.

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