China

Policy & Legal Updates

China Issues Guidelines to Accelerate Development of New Quality Productive Forces

The Communist Party of China Central Committee and the State Council have jointly issued guidelines on developing new quality productive forces. The policy document outlines 19 key measures across five areas of innovation, defining the initiative as an intrinsic requirement for high-quality development. The directive emphasizes innovation-driven growth, local adaptability, and balancing self-reliance with opening up.

China–UAE News

Chinese Storage Firms Win 94GWh Orders Led by Massive UAE Contracts

Chinese energy storage suppliers disclosed approximately 94GWh in system orders during the third quarter of 2026, with overseas contracts accounting for 93% of signed volumes. Major Middle East deals drove this surge, including an 11.275GWh contract between BYD and the UAE's Masdar as well as a 7.5GWh deal won by Sungrow in the UAE. The Middle East represented 21.3GWh, or 28.7% of total signed capacity, behind Europe's 31.2GWh.

Industry News

Baltic Exchange Reports Surging Middle East to China Crude Tanker Rates

The Baltic Exchange reported sharp increases in crude tanker freight rates connecting the Gulf region to China on October 9, 2026. Very Large Crude Carrier earnings on key Middle East to China routes experienced substantial daily gains amid vessel constraints and strong chartering activity.

Industry News

High Freight Rates Prompt Chinese Refiners to Favor Middle Eastern Crude

Surging maritime shipping costs have led Asian and Chinese refiners to favor Middle Eastern crude over West African supplies, according to analytics firm Kpler. Shipping freight rates have quadrupled from pre-crisis baselines, shutting down long-haul arbitrages. Resurgent Persian Gulf exports and restored Saudi logistics have consequently reclaimed market share in East Asia.