On July 16 several fund houses reported China’s first batch of onshore active ETFs was formally filed with the CSRC, with nine products slated for the Shanghai exchange and nine for Shenzhen. Industry participants say the filings fill a gap in on-exchange fully active equity products, offering alpha-seeking, ETF-structured tools and expanding onshore allocation options for investors.

U.S. EIA: refined oil production in the week to July 10 rose 72,000 b/d, prior week -1,000 b/d.

The National Development and Reform Commission, Ministry of Natural Resources and and Ministry of Water Resources issued a notice publishing the Seawater Desalination Industry Development Action Plan. The plan directs stronger planning and deployment to ensure key islands are covered by seawater desalination supply projects and calls for building centralized desalination plants on islands that cannot be served by conventional water networks in the near term. It supports construction of seawater desalination plants of no less than 1,000 tonnes/day on populated islands with mature network infrastructure, encourages county-level upgrades and standardization of existing desalination facilities with unified operation-and-maintenance, and urges fitting ocean-going fishing vessels and offshore platforms with desalination units while gradually raising domestic content to strengthen at-sea supply resilience.