Fitch: The impact of new energy sources has disrupted Germany's fragile recovery.

ICE-GASOIL SPECULATORS RAISE NET LONG POSITIONS BY 145 CONTRACTS TO 59,796 IN WEEK TO MAY 12

Domestic News: 1. Trump's Visit to China—① US President Trump concludes his visit to China. ② Wang Yi: The two countries agreed to establish a Trade Council and an Investment Council to address each other's concerns regarding market access for agricultural products and to promote the expansion of bilateral trade under a framework of reciprocal tariff reductions. At the invitation of President Trump, President Xi Jinping will pay a state visit to the United States this fall. ③ Ministry of Foreign Affairs: China and the US are maintaining communication regarding arrangements for interactions between the two heads of state this year. 2. Qiushi Journal publishes an important article by General Secretary Xi Jinping entitled "Strengthening, Optimizing, and Expanding the Real Economy." 3. The China Securities Regulatory Commission (CSRC) releases the "Measures for the Supervision and Administration of Derivatives Trading (Trial)," which will take effect on November 16, 2026. 4. The National Medical Products Administration (NMPA) releases and implements the "Implementation Measures for the Protection of Drug Trial Data" today, granting a six-year protection period for trial data of innovative drugs and original drugs. 5. Spokesperson of the Ministry of Foreign Affairs answers reporters' questions on the situation in Iran: Dialogue and negotiation are the right path; a military solution is not the way out. The door to dialogue has been opened and should not be closed again. 6. The Ministry of Justice issued a statement today, determining that the EU's cross-border investigations constituted improper extraterritorial jurisdiction. No organization or individual may implement or assist in the implementation of such improper extraterritorial jurisdiction. 7. China Media Group and FIFA jointly announced that they have acquired the broadcasting rights for the 2026 and 2030 World Cups. Sources indicate the broadcasting rights fee for the USA-Mexico World Cup is $60 million. 8. Premier Li Qiang chaired an executive meeting of the State Council, hearing reports on the implementation of the Central Urban Work Conference's directives and the progress of urban renewal, reviewing and approving the "15th Five-Year Plan for Urban Renewal" and the "15th Five-Year Plan for Accelerating Agricultural and Rural Modernization," and discussing work related to population development and the reform and development of basic education. 9. The China Securities Regulatory Commission (CSRC) held a symposium on capital market support for the development of modern service industries and new consumption enterprises. CSRC Chairman Wu Qing stated that during the 15th Five-Year Plan period, the CSRC will further scientifically plan and research more concrete measures to deepen inclusive reforms and promote high-quality development of the capital market, better supporting the development and growth of various real economy enterprises, including those in the service and consumption sectors. International News: 1. Sources: SpaceX stock could go public as early as June 12. 2. Federal Reserve: Powell will serve as interim chairman until Warsh officially takes office. 3. The US New York Fed Manufacturing Index for May reached its highest level since April 2022. 4. US State Department: The ceasefire agreement between Israel and Lebanon will be extended for 45 days. 5. Goldman Sachs: Reiterates its target of $5,400 per ounce for gold by the end of 2026. 6. US interest rate futures indicate a greater than 50% probability of a Fed rate hike by January next year. 7. US Energy Secretary Wright: The US could easily double its natural gas exports without affecting domestic prices. 8. Indian Ministry of Trade: India's gold imports in April amounted to $5.63 billion; India will cooperate with the UAE to expand its strategic oil and gas reserves. 9. US-Iran Situation—① Israeli official: Israel is preparing to resume military action against Iran, which could last "days or even weeks." ② Iranian Foreign Minister: An agreement has been reached with the United States to postpone negotiations on uranium enrichment; talks have been held with Russia on storing enriched uranium. Iran is not seeking to develop nuclear weapons. The Strait of Hormuz remains open to commercial vessels from friendly nations. Messages have been received from the United States expressing a desire to continue negotiations. ③ Trump: Iran may acquire enriched uranium at an appropriate time; otherwise, action will be taken. Iran's commitment to suspend its nuclear program for 20 years is not a problem, but the prerequisite is that the commitment must be "genuine."