Macro

1. Carbon emissions: The Central Office and the State Council have issued opinions on promoting green and low-carbon transformation and strengthening the construction of the national carbon market. The opinion mentions that by 2027, the national carbon emission trading market will basically cover the major emission industries in the industrial sector, and the national voluntary greenhouse gas emission reduction trading market will achieve full coverage in key areas. By 2030, a national carbon emission trading market based on total quota control and combining free and paid distribution will be basically established, and a national voluntary greenhouse gas emission reduction trading market will be built, forming a carbon pricing mechanism with significant emission reduction effects, a sound regulatory system, and reasonable price levels.

2. Automobile: According to data released by the China Association of Automobile Manufacturers, the new energy vehicle market in China sold 1.262 million units in July 2025, a decrease of 5.0% compared to the previous month and a year-on-year increase of 27.3%. The penetration rate reached 48.7% and remained at a high level. Among them, sales of new energy passenger vehicles reached 1.195 million units, a year-on-year increase of 25.4%; Sales of new energy commercial vehicles reached 67,000 units, a year-on-year increase of 74.9%.

3. US India tariffs: The Trump administration outlined plans to impose a 50% tariff on Indian products in a draft announcement released on Monday, the latest signal of the White House's plan to push for tariff increases.

Rubber and plastic

1. ABS: The old ABS unit of Daqing Petrochemical has a production capacity of 100,000 tons per year, and the newly put into operation two units have a total production capacity of 200,000 tons per year. The current overall load is around 50%, and the old equipment will be scheduled for maintenance by the end of August.

2. PE: From January to July 2025, a total of 8.0314 million tons of polyethylene were imported domestically, an increase of 2.48% year-on-year; Accumulated exports of 613,700 tons of polyethylene, an increase of 20.84% year-on-year.

3. Natural rubber: According to the latest data, Thailand exported a total of 1.586 million tons of natural rubber (excluding composite rubber) in the first seven months of 2025, a year-on-year decrease of 5%. Among them, the total export of standard rubber was 919,000 tons, a year-on-year decrease of 15%; The export of cigarette adhesive reached 227,000 tons, a year-on-year increase of 25%; Latex exports amounted to 431,000 tons, a year-on-year increase of 9%.

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