央行陸磊：央行將完善存款準備金制度，更加靈活精準開展公開市場操作。

Zheshang Securities says domestic PDH units returned to profitability since June. PDH margins have turned positive and the long-term profitability baseline is likely to move higher, while the long-term propane price baseline is expected to trend lower. Propylene-equivalent consumption is forecast to grow steadily at about a 3% CAGR. Supply-side dynamics: co-produced (byproduct) propylene volumes have fallen, implying a structural long-term supply contraction; industry supply growth has slowed sharply, supporting an improved supply-demand balance. Monitor integrated, low-cost leaders with PDH capacity.

Officials said Reform UK will face a criminal investigation.