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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.

UK GDP comes into focus when the EUR/GBP crosses a hurdle near 0.8440

Alina Haynes

Aug 11, 2022 12:03

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During the early Tokyo trading session, selling pressure developed on the EUR/GBP exchange rate towards the significant resistance level (R) of 0.8440. Prior to then, the cross had reversed after a sudden decline to about 0.8420. The German Harmonized Index of Consumer Prices (HICP), which measures consumer price changes, held stable at 8.5%, while the asset declined on Wednesday after breaching a crucial support level of 0.8440. Furthermore, Germany's inflation rate matched expectations.

 

It is interesting that decreased oil prices have led to a dramatic decline in inflation in the US economy. The decline in oil prices should also contain inflation in Germany. This suggests that the ongoing energy crisis in Germany brought on by Russia shutting down a crucial gas pipeline to Europe has been unaffected by the reduction in oil prices.

 

Investors sold off the common currency's bulls. The multiplying effects of the inflation issue provide the European Central Bank (ECB) with an ever-more challenging situation.

 

The market was expecting the UK's GDP to grow by 0.3% in the second quarter, but analysts estimate a 0.2% decline. The 1.3% decrease in the UK GDP is anticipated to more than outweigh the 0.5% monthly expansion. Additionally, annual GDP predictions were reduced from 8.7% to 2.8%.

 

It is also anticipated that manufacturing output will fall short of expectations. An annual decline of 1.3% from the previous 2.3% is projected. However, the rate of industrial production increase each year might be between 1.4% and 1.6%.


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