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On May 23, it was reported that from January to April 2026, 20,113 new foreign-invested enterprises were established nationwide, a year-on-year increase of 6.8%; actual use of foreign capital amounted to RMB 287.69 billion, a year-on-year decrease of 10.3%. By industry, actual use of foreign capital in manufacturing was RMB 78.88 billion, and in services RMB 204.15 billion. Actual use of foreign capital in high-tech industries reached RMB 116.33 billion, a year-on-year increase of 20.3%, accounting for 40.4% of the total actual use of foreign capital nationwide, an increase of 10.3 percentage points compared to the same period last year. Among them, actual use of foreign capital in R&D and design services, computer and office equipment manufacturing, and electronic and communication equipment manufacturing increased by 108.4%, 22.9%, and 20.2%, respectively.On May 23, Minister of Commerce Wang Wentao met with Lao Minister of Industry and Commerce, Maraitshong, in Suzhou on May 21. The two sides were in China to attend the RCEP and CPTPP member dialogue. They exchanged in-depth views on further promoting China-Laos economic and trade relations, deepening cooperation in green minerals, promoting trade and investment in the new energy sector, and jointly safeguarding the multilateral trading system. Wang Wentao stated that in recent years, under the strategic guidance of the leaders of both countries, China-Laos economic and trade cooperation has yielded fruitful results. The Ministry of Commerce of China is willing to work with the Ministry of Industry and Commerce of Laos to take the 65th anniversary of the establishment of diplomatic relations between China and Laos as an opportunity to further promote bilateral trade development and investment cooperation in various fields, and to continuously elevate bilateral economic and trade relations to new heights.On May 23, Futu Holdings announced that as of May 23, 2026, the company had repurchased approximately US$160 million worth of American Depositary Shares (representing Class A ordinary shares of the company) under the share repurchase program announced on November 18, 2025. Depending on market conditions, the company may continue to execute repurchases from time to time under the existing share repurchase program.The Shenzhou-23 astronaut crew will undertake more than 100 new scientific and applied projects during their time in orbit.May 23 - A one-year space stay will implement my countrys first space human research program, verifying the ability to ensure the health of astronauts during long-term flights.

WTI struggles to prolong its two-day uptrend below $78, as negative sentiment undermines expectations for China-led oil demand

Daniel Rogers

Mar 02, 2023 15:46

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Following a two-day uptrend that reached the greatest levels in a fortnight, the price of WTI crude oil fluctuates between $77.80 and $90 early Thursday.

 

The recent struggles of the black gold may be related to the contradictory signals encircling China and the Oil equities. However, negative sentiment and the resurgence of the US Dollar appear to be the quote's greatest obstacles to the upside.

 

In addition, higher-than-anticipated US inventories weigh on the energy benchmark. The weekly data from the US Energy Information Administration (EIA) indicates a 1.165M increase in Oil inventories, compared to the expected 0.45M increase and the previous level of 7.648M.

 

The willingness of US President Joseph Biden to continue pumping the markets with the Strategic Petroleum Reserve (SPR) and the absence of offers for Russian Oil also exert downward pressure on the price of WTI crude oil.

 

The latest New York Times (NYT) headlines suggest a potential rift between the United States and China at the important event. According to the news, "China is urging the start of peace talks, and some Group of 20 nations may support that notion when they meet in India, but U.S. officials contend Russia would not negotiate in good faith."

 

It should be noted, however, that the recent uptick in China activity data and optimistic remarks from the dragon nation's policymakers keep black gold purchasers optimistic. China's Minister of Human Resources recently stated, "China's employment will continue to increase this year and remains stable overall." On Wednesday, China's Finance Minister Liu He expressed a willingness to increase the country's fiscal expenditure while noting that the foundation of China's economic recovery remains fragile.

 

However, hawkish remarks from policymakers of the US Federal Reserve (Fed), the Bank of England (BoE), and the European Central Bank (ECB) highlighted the need for additional rate hikes to combat inflation issues, which exerted downward pressure on the price of oil.

 

In response to these events, 10-year US Treasury bond yields surpassed 4% for the first time since early November 2022, while 2-year yields ascended to their highest levels since June 2007 by flashing 4.91%. The increase in US Treasury bond yields reflects the market's concerns, which in turn have impacted on bulls on Wall Street, S&P 500 Futures, and WTI bulls recently. Consequently, S&P 500 Futures were down 0.5 percent as of press time despite the varied closing of Wall Street benchmarks.

 

Moving on, G20 updates could be combined with comments from central bankers and secondary US data to amuse Oil traders.


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