MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI:US MAY WHOLESALE INV 0.6%; SALES 0.4%

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Chinese Gasoline Demand to Peak 2025 with 170mn Tons

OIL PRODUCTS

China’s gasoline demand is expected to peak at 170mn tons at around 2025, Qiu Xuan, a researcher with PetroChina Planning & Engineering Institute, said, cited by Bloomberg.

  • Gasoline demand will sharply drop to 50mn tons by 2040, due to the country’s aggressive penetration by EVs, rising fuel efficiency and falling per car mileage.
  • Diesel demand in the road freight sector has already peaked and is forecasted to decline by 30mn tons by 2030, from 120mn tons currently, as LNG trucks will displace over 20% of road freight demand.
  • Jet-fuel consumption is expected to peak at 90mn tons by 2040, up from 37mn tons expected for 2023.
  • Demand for transport oil products will peak at 390m tons by 2025-2030.
  • Chinese refineries will run at no more than 60% capacity by 2030, with surplus refining capacity rising to 300m tons/yr.
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