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06.12.25 - 04:12
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China′s Teapot Refiners Boost Crude Buying After New Import Quotas (ZeroHedge)
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China's Teapot Refiners Boost Crude Buying After New Import Quotas
By Michael Kern of Oilprice.com
Helped by the newly-issued crude import quotas, China's independent refiners are buying sanctioned Iranian crude again and raising their processing rates, making room for Iran's oil to move out of floating and bonded storage and potentially easing the year-end glut on the market.
Chinese teapot refiner
The independent refiners in China's Shandong province, the so-called teapots, have been buying cheap Iranian oil from onshore storage in China, including bonded storage, since the Chinese authorities issued a fresh batch of import quotas last week.
These quotas are important for China's purchases and storage of crude as all refiners except the five big state-owned giants need to be allocated quotas in order to import crude.
The teapots are now using their quotas to buy Iranian crude from bonded storage and boost processing rates, traders and analysts told Reuters on Friday.
The indepen...
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06.12.25 - 04:06
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A Chinese home-grown business jet is on the way. Will it rival Gulfstream? (SCMP)
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China's top aircraft maker is stepping up efforts to promote its first business jet as it looks to break into a market dominated by Western aviation firms like Gulfstream Aerospace.
The Commercial Aircraft Corporation of China (Comac) took the rare step of showcasing a completed version of the model – called the Comac Business Jet, or CBJ – at an exhibition in the southern Chinese city of Guangzhou in October.
The move signalled the state-owned company was “seeking to break into the large-cabin......
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06.12.25 - 02:09
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USA Or China: Goldman Breaks Down Who Will Win The AI War (ZeroHedge)
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USA Or China: Goldman Breaks Down Who Will Win The AI War
Even after the latest US-China trade truce, the superpower race for technological dominance remains red hot - and will only intensify through the end of the decade.
The battle is over who controls the technologies that will dominate the 2030s: AI chatbots, advanced chips, drones, humanoid robots, clean tech, EVs, satellites, reusable space rockets, hypersonic weapons, next-gen grid power generation, and the critical minerals that make all of it possible.
The latest comments from U.S. Trade Representative Jamieson Greer reveal that the Trump administration is pushing for a stable trade environment with Beijing, which makes perfect sense heading into the midterm election cycle.
"I don't think anyone wants to have a full-on economic conflict with China and we're not having that," Greer said Thursday at the American Growth Summit in Washington.
Greer continued, "In fact, President Trump has had the opportunity to use all th...
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06.12.25 - 01:12
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Rattner: US Can′t ′Out-Negotiate′ China (Bloomberg)
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Willett Advisors' Steven Rattner joins Wall Street Week after returning from China to share his view of an economy running at two speeds – weak consumption but booming tech. He discusses how China is overtaking the US in electric vehicles, biotech, and AI, and why tariffs are unlikely to stop that momentum. Rattner argues that the US must compete through innovation and smart policy at home, and not by trying to slow China down. (Source: Bloomberg)...
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06.12.25 - 00:06
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Chinese EV maker Li Auto unveils industry′s cheapest AI glasses at US$282 (SCMP)
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Chinese electric vehicle maker Li Auto has launched its first wearable product, the Livis artificial intelligence glasses, marking a bold foray into the rapidly expanding market already crowded by tech giants like Alibaba Group Holding, Huawei Technologies and Xiaomi.
The device is priced at 1,999 yuan (US$282), but buyers who place an order before December 31 qualify for a 15 per cent rebate via the government-backed subsidy programme, bringing down the price to 1,699 yuan.
That effectively......
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05.12.25 - 18:27
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"No Longer Gold′s Quiet Sidecar": Silver Surges To Record High As China Demand Exacerbates Squeeze (ZeroHedge)
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"No Longer Gold's Quiet Sidecar": Silver Surges To Record High As China Demand Exacerbates Squeeze
As we have detailed extensively recently (here, here, and here), silver's latest breakneck surge to record highs was in large part due to collapsing inventories of the precious metal in Chinese warehouses linked to the Shanghai Futures Exchange, which just hit the lowest level since 2015.
The squeeze continues to accelerate and this morning the white metal topped $59 - a new record high...
...as rising rate-cut odds support the buying...
...and Chinese demand continues to build back inventories...
Strong inflows to exchange-traded funds added more impetus to a scorching rally, as Bloomberg reports, total additions to silver-backed ETFs in the four days through Thursday are already the highest for any full week since July, a strong signal of investor appetite despite signs silver's gains may be overdone.
As Goldman notes, key catalysts for silver's recent rise include a depletion o...
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05.12.25 - 15:36
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Russia′s Putin in India with Modi, France′s Macron in China with Xi | The Pulse 12/4 (Bloomberg)
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Today's guests: Tina Fordham, Fordham Global Foresights Founder and Geopolitical Strategist; Julien Lafargue, Barclays Private Bank Chief Market Strategist; Brian Moynihan BofA CEO; Andrew Puzder, US Ambassador to EU; Susan Langley, Lady Mayor of London. (Source: Bloomberg)...
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