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On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote the transformation of the whole society to be suitable for the elderly, support local pilot exploration, and promote the installation of elevators in multi-story buildings and the development of elderly dining services. Actively develop industries such as anti-aging and silver tourism to release the potential of the silver consumption market. Encourage the development of community embedded childcare, employer-run childcare and integrated childcare services. Support and regulate social forces to develop elderly care and childcare services, and improve the price formation mechanism of elderly care services. Encourage places with conditions to provide site support and operation subsidies to universal childcare institutions based on actual conditions.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to develop inbound consumption. Orderly expand the scope of unilateral visa-free countries, optimize and improve regional entry visa-free policies. Launch more high-quality inbound tourism routes and services, improve the convenience level of foreign tourists in China, and cultivate international medical, exhibition and other markets. Deepen the cultivation and construction of international consumption center cities. Support the opening of duty-free shops in urban ports that meet the conditions. Support more high-quality merchants to become departure tax refund stores, and promote the "buy now, refund now" service measures for departure tax refunds.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote ice and snow consumption. Launch and implement the ice and snow tourism promotion plan, organize and carry out ice and snow consumption season and other consumption promotion activities, build a number of ice and snow theme high-quality tourist attractions and resorts, and support ice and snow resource-rich areas to build world-renowned high-quality ice and snow tourism destinations. Encourage all regions to enrich the supply of ice and snow venues and consumer products according to time and place.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to strengthen credit support. Financial institutions are encouraged to increase the issuance of personal consumer loans under the premise of controllable risks, and reasonably set the amount, term and interest rate of consumer loans. Financial institutions are supported to optimize the repayment method of personal consumer loans in accordance with the principles of marketization and rule of law, and carry out loan renewal work in an orderly manner. In 2025, financial subsidies will be provided for eligible personal consumer loans and loans to service industry operators in the consumer field.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to continuously optimize the business environment. Improve the negative list management model for market access, focus on environmental protection, sanitation, security, quality inspection, fire protection and other fields, thoroughly clean up and rectify various market access barriers, and create a stable, fair, transparent and predictable market environment. Encourage all regions to simplify the approval process for promotional activities, community markets, outdoor displays, signboard facilities, etc., and implement online reporting and immediate processing. Improve the efficiency of supervision and random inspections through cross-departmental joint efforts, and do not disturb public consumption places.

Oil prices decrease as Saudi Aramco expresses its ready to boost oil output

Haiden Holmes

Aug 15, 2022 10:48

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Oil prices declined for a second straight session on Monday after the president of the world's largest exporter, Saudi Aramco (TADAWUL:2222), declared that the business is prepared to raise output and three offshore U.S. Gulf of Mexico rigs restarted operations following a weeklong outage.


Saturday at 00:34 GMT, Brent crude futures declined by 27 cents, or 0.3%, to $97.88 a barrel, following a 1.5% decline on Friday. Following a recent fall of 2.4%, the price of a barrel of U.S. West Texas Intermediate crude was $91.87, down 22 cents, or 0.2%.


If ordered by the Saudi Arabian government, Saudi Aramco is prepared to boost crude oil production to its maximum capacity of 12 million barrels per day (bpd), according to Saudi Aramco CEO Amin Nasser.


Nasser stated, "We are confident in our ability to expand production to 12 million barrels per day (bpd) if the government or energy ministry seeks an increase." He stated that China's easing of COVID-19 restrictions and a rise in the aviation industry could increase demand.


China's economic figures will provide investors with insight into crude oil demand in the world's largest crude oil importer on Monday.


Last week, oil prices climbed by more than 3% as a result of a damaged oil pipeline component that halted production at numerous offshore Gulf of Mexico sites.


According to a Louisiana official, once repairs were completed late on Friday, producers tried to revive some of the halted output.


Last week, the number of oil rigs in the United States grew by three to 601, as reported by Baker Hughes Co on Friday. The number of oil rigs, an early indicator of future output, has increased slowly, and it is anticipated that oil production will not recover from pandemic-related decreases until the following year.


Ahead of EU sanctions on Russian crude oil and refined product exports this winter, constrained supplies continued to bolster global oil markets.