February 25 Macroeconomic Index:Overview of Global Dynamics: From the start of production of China's offshore oil fields to the changes in the international political and economic situation

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International Crude Price Trend & Exchange Rate of RMB to USD Trend

Domestic News

1. China's first offshore phase II project of ultra-heavy oil thermal recovery oilfield was put into operation

2. “Paying social security for riders” has become a hot topic in the food delivery industry

3. The first batch of “AI civil servants” has already taken up their posts in Shenzhen

4. More than 20 cities across the country have introduced new policies for the optimization of housing provident funds.

5. The management scale of many leading quantitative institutions has shrunk this year

 International News

1. Peskov: Donetsk and other four places will not carry out any kind of transactions or transfers

2. Frequent changes in Trump's policies have put oil traders off long-term charter contracts

3. The EU will sanction 13 Russian banks and 73 oil tankers

4. Medvedev: Ukraine’s attack on the Kropotkin pumping station is a blow to American companies and Trump himself

5. Trump is demanding to take whatever they can get from Ukraine to recoup the money invested

Domestic News

1. China's first offshore phase II project of ultra-heavy oil thermal recovery oilfield was put into operation

It was learned from CNOOC Tianjin Branch that China's first large-scale ultra-heavy oil thermal recovery and development oilfield - Lvda 5-2 North Oilfield Phase II Development Project was put into operation on the 21st. Lvda 5-2 North Oilfield Phase II Development Project is located in the central part of the Bohai Sea, with an average water depth of about 30 meters, and the main production facilities are 1 production auxiliary auxiliary platform and 1 production wellhead platform, both of which are newly built. The project plans to put into production 29 development wells, and is expected to produce about 1,000 tons of crude oil per day at a peak. (Xinhua News Agency)

2. “Paying social security for riders” has become a hot topic in the food delivery industry

In just a few days, "paying social security for riders" has become a hot topic in the food delivery industry. There are more than 84 million new employment workers in China, and more than 10 million food delivery riders. Nowadays, the major platforms are speaking out, some people think that this is a great benefit to the new employment form of workers, and some people think that it is a means and publicity gimmick for the platform's business competition.

3. The first batch of “AI civil servants” has already taken up their posts in Shenzhen

Just when the public discussion of artificial intelligence is in full swing, the first batch of "AI civil servants" has taken up their posts in Shenzhen. Futian District, Shenzhen, recently launched 70 "new employees" for smart government affairs. These "new employees" are responsible for 11 categories, covering 240 business scenarios of government services, with comprehensive skills and very high efficiency.

4. More than 20 cities across the country have introduced new policies for the optimization of housing provident funds.

From the beginning of 2025 to February 22, more than 20 cities across the country have introduced new policies for the optimization of housing provident funds. On the whole, this round of policy adjustment mainly includes three dimensions, namely, the expansion of the scope of use, the increase of use and the increase of loan amount.

5. The management scale of many leading quantitative institutions has shrunk this year

This year, the management scale of many leading quantitative institutions has shrunk, and a number of medium and large quantitative private placements have experienced a rapid drawdown in scale, but there are still some leading institutions that have expanded against the trend. In the past few years, the traditional quantitative product line has been tested one after another, and many investors chose to redeem after the net value rebounded at the end of last year, resulting in the shrinkage of many institutions.

International News

1. Peskov: Donetsk and other four places will not carry out any kind of transactions or transfers

On February 23, local time, Russian presidential press secretary Peskov responded to Ukrainian President Zelensky's remarks after the meeting between Russia and the United States. He stressed that the process of negotiations between the heads of Russia and the US on the Ukraine issue should not be hindered in any way, and the two sides should smoothly realize their respective political will. In particular, Peskov noted that there will be no transactions or transfers of any kind in the four places, including Donetsk. In 2022, after the outbreak of the Russia-Ukraine conflict, Luhansk, Donetsk, Zaporozhye, and Kherson joined the Russian Federation through a referendum in September of that year. Recently, the United States proposed a so-called "rare earth for aid" mineral cooperation agreement to Ukraine. Ukraine is rich in rare earth reserves, of which lithium ore and titanium ore are the main components of Ukraine's rare earth resources. Although Ukraine has a wide variety of critical mineral resources, some of them are already under Russian control. On February 20, local time, Ukrainian President Volodymyr Zelensky said that he was ready to reach an agreement with the US counterpart on investment and security issues.

2. Frequent changes in Trump's policies have put oil traders off long-term charter contracts

According to the Financial Times, industry-leading data shows that US President Donald Trump's capricious foreign policy has made oil traders reluctant to sign long-term charter contracts for tankers, creating more uncertainty for shipowners. Shipowners and one of the world's largest commodities traders say the US president's trade war and intervention in international conflicts have made traders reluctant to sign "time charters". Trump's actions have increased uncertainty about the future costs and risks of the market, which is already facing multiple challenges. These include Yemen's Houthi attacks on ships in the Red Sea, forcing ships to choose longer routes, driving up shipping costs, and the war in Ukraine. Mikael Skov, chief executive of Hafnia, one of the world's largest tanker operators, said the new US administration would make "new statements" "every day". "Oil traders and other shipowners – pretty much everybody has the same sentiment that it's probably going to be harder to get a long-term deal right now," he said. ”

3. The EU will sanction 13 Russian banks and 73 oil tankers

According to Interfax, EU representatives have approved new sanctions against Russia, targeting 13 banks and 73 oil tankers. The new sanctions package includes a phased ban on EU member states from sourcing certain types of Russian aluminum products, the sources said. The new package will now be submitted to EU leaders for approval.

4. Medvedev: Ukraine’s attack on the Kropotkin pumping station is a blow to American companies and Trump himself

Deputy Chairman of the Security Council of the Russian Federation Medvedev said that Ukraine's attack on the Russian Kropotkin pumping station of the Caspian Pipeline Group is a triple blow to American companies, the oil market and US President Donald Trump himself. Medvedev noted that the Caspian Pipeline Group is by no means an asset of Russia, and the oil in it belongs to different companies in a certain percentage, first of all, American and European ones. In 2024, he wrote, U.S. companies accounted for more than 40 percent of oil supplies transported through pipelines from the Caspian Pipeline Group of companies, and more than 65 percent with other Western companies combined. (Sputnik)

5. Trump is demanding to take whatever they can get from Ukraine to recoup the money invested

On the 22nd local time, U.S. President Trump said in a speech at the U.S. Conservative Political Action Conference (CPAC) that he asked for rare earths, oil and "anything we can get" from Ukraine to recover the money invested in Ukraine, "I think we are very close to reaching an agreement with Ukraine."

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