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.

Plastics and Rubber

1. [ABS] Tianjin Dagou's ABS plant has a production capacity of 400,000 tons/year, and its current operating rate has been increased to over 60%. The supply mainly goes to key customers, and the selling prices remain stable, with traders adjusting prices according to market conditions.

2. [PP] Guangxi Hongyi's PP production plant, with a capacity of 150,000 tons/year, was shut down for maintenance at the end of December and has not yet resumed operation. The restart time is undetermined.

3. [Natural Rubber] The latest data shows that in the first 11 months of 2025, Vietnam exported a total of 643,000 tons of natural rubber, a year-on-year decrease of 11% compared to 719,000 tons last year. Of this, standard rubber exports amounted to 304,000 tons, a year-on-year decrease of 21%, including 101,000 tons of SVR10, 108,000 tons of SVR3L, and 62,000 tons of SVRCV60; smoked sheet rubber exports were 61,000 tons, a year-on-year decrease of 9%; and latex exports were 276,000 tons, a year-on-year increase of 2.2%.

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