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RMB SHIBOR (Shanghai Interbank Offered Rate): As of September 17, 2025, five periods saw increases, while three remained unchanged. The overnight Shibor was at 1.483%, up 4.6 basis points. The two-week RMB SHIBOR saw the largest change of any period, rising by 10.1 basis points. (For details of SHIBOR and its changes over the past ten business days, see the Huitong FX678 chart.) Other periods showed the following: the one-week Shibor was at 1.519%, up 4.4 basis points; the two-week Shibor was at 1.607%, up 10.1 basis points; the one-month Shibor was at 1.541%, up 0.6 basis points; the three-month Shibor was at 1.554%, up 0.1 basis points; the six-month Shibor was at 1.63%, unchanged; the nine-month Shibor was at 1.661%, unchanged; and the one-year Shibor was at 1.671%, unchanged.

Argentina announces partial sale of shares in National Nuclear Power Company (NEA) - On the 16th local time, the Argentine government issued a public statement announcing plans to sell up to 44% of its shares in the state-owned nuclear power company, ENE. The government will continue to hold a 51% stake in the company to maintain its controlling stake. In addition, an employee stock ownership plan will be established, allowing employees to participate in equity distribution. Amidst fiscal constraints, this initiative aims to modernize infrastructure and attract investment. Partial privatization is expected to facilitate the advancement of key projects, including the construction of Argentina's first modular reactor and the development of uranium mines. NEA currently operates the Atucha I, Atucha II, and Embals nuclear power plants. According to the International Atomic Energy Agency, nuclear power plants will generate approximately 7.4% of Argentina's total electricity in 2024. Analysts estimate the company's total market value to be approximately US$1 billion.

Li Zhen, Deputy Director of the State-owned Assets Supervision and Administration Commission of the State Council: We will vigorously promote the strategic and specialized restructuring and integration of state-owned central enterprises

[SASAC: Will Guide Enterprises to Deeply Implement Brand Strategies, Continuously Improve Brand Added Value, Value, and Reputation] The State Council Information Office held a series of press conferences this morning on the theme of "High-Quality Completion of the 14th Five-Year Plan." A representative from the State-owned Assets Supervision and Administration Commission (SASAC) revealed at the press conference that the total brand value of central SOEs will reach 8.6 trillion yuan in 2024, with an average annual compound growth rate exceeding 15% over the past three years. Going forward, SASAC will guide enterprises to deeply implement brand strategies, continuously improving brand added value, value, and reputation, accelerating the development of first-class brands that align with the enterprise's scale, status, role, and development vision, and enhancing core competitiveness. (China Net)

Oil Prices Remain Steady as Markets Await the Federal Reserve's Interest Rate Decision. 1. Oil prices were stable in early trading on Wednesday. Following the drone attacks on Russian ports and refineries, oil prices rose over 1% on Tuesday. Market focus is now shifting to the Federal Reserve's upcoming interest rate decision, with a rate cut widely expected. 2. Brent crude futures fell slightly by 0.15% to $68.35 per barrel, while WTI futures dipped slightly by 0.12 to $64.44 per barrel. Tuesday's report that Transneft had warned Russian oil producers of possible production cuts due to the attacks sparked market concerns about supply disruptions. Meanwhile, European Commission President Ursula von der Leyen announced plans to accelerate the phase-out of fossil fuel imports from Russia. 3. The market generally expects the Federal Reserve to cut interest rates by 25 basis points at this meeting to stimulate the economy and boost fuel demand. IG analyst Tony Sycamore noted that investors are more focused on the number of members supporting a larger rate cut and Powell's subsequent policy signals. He believes that even if the rate cut goes ahead as planned, the rebound in risky assets like crude oil is likely to be short-lived. 4. In terms of inventory, data from the American Petroleum Institute (API) showed that U.S. crude oil and gasoline inventories fell last week, while distillate inventories rose. The market is waiting for official EIA data to confirm this. According to a survey, analysts expect EIA crude oil inventories to fall by about 900,000 barrels and gasoline inventories to rise slightly.

[CATL Zeng Yuqun: Price wars in the energy storage industry are unsustainable and not worth the cost] On September 17, the 2025 World Energy Storage Conference was held in Ningde, Fujian. Zeng Yuqun, founder and chairman of CATL, said in his speech at the conference that price competition in the energy storage industry is extremely fierce. He mentioned that in the past three years, the price of energy storage systems has dropped by about 80%; recently, the winning bid price of a certain centralized procurement project was even lower than 0.4 yuan/Wh, seriously deviating from the cost. He believes that low prices will inevitably lead to reduced quantity and reduced configuration, which will bury quality safety risks in the industry. This will not only cause the gross profit of energy storage companies to shrink rapidly, but the key is that it is unsustainable and not worth the cost.