Macroeconomics

1. [Electricity] my country's largest all-vanadium redox flow battery energy storage power station – the Three Gorges Group's Jimusar All-Vanadium Redox Flow Energy Storage Power Station in Xinjiang – recently achieved full-capacity operation. The power station has a rated power of 200,000 kilowatts and an energy storage capacity of 1 million kilowatt-hours. It is expected to increase the utilization rate of the project's supporting photovoltaic power station by more than 10% annually, potentially generating over 230 million kilowatt-hours of clean electricity.

2. [Recycled Materials] The National Development and Reform Commission and other departments have issued the "Action Plan for the Promotion and Application of Recycled Materials." By 2030, the waste recycling system will be further improved, and standards and certification systems for the promotion and application of recycled materials will be gradually established. The annual recycling volume of scrap steel and waste paper will exceed 300 million tons and 80 million tons respectively, and the annual output of recycled non-ferrous metals and recycled plastics will exceed 25 million tons and 19.5 million tons respectively. The proportion of recycled materials used in automobiles, electrical and electronic products, textiles, and packaging will steadily increase, and the role of recycled materials in ensuring resource security and promoting energy conservation and carbon reduction will be further enhanced.

Energy

1. [Crude Oil] The US President stated that the US will control Venezuela and its global largest oil reserves. According to Statista, Venezuela has approximately 300 billion barrels of oil reserves, accounting for nearly one-fifth of the world's total. Venezuela's oil reserves are not only more than those of the oil kingdom Saudi Arabia, but also nearly 6.7 times that of the United States.

2. [Crude Oil] On January 2nd, international crude oil futures closed lower. The settlement price of the US WTI crude oil futures February contract was $57.32 per barrel, a decrease of $0.10 or 0.2%. The settlement price of the Brent crude oil futures March contract was $60.75 per barrel, a decrease of $0.10 or 0.2%.

3. [Crude Oil] On January 2nd, the Nigerian National Petroleum Corporation (NNPC) announced that the expected crude oil and condensate production in November 2025 will be 1.6 million barrels per day, an increase of 1.3% compared to October. 4. [Liquefied Natural Gas] On January 4th, liquefied natural gas (LNG) prices in Inner Mongolia decreased.  Huineng LNG in Inner Mongolia lowered its price by 70 RMB/ton, with the latest price at 3,180 RMB/ton; Huanda LNG in Inner Mongolia decreased its price by 80 RMB/ton compared to yesterday, with the latest price at 3,270 RMB/ton; and Xingxing Energy LNG lowered its price by 60 RMB/ton, with the latest price at 3,210 RMB/ton.

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