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Major oil pipeline starts operation in East China, capable of pumping up to 70,000 tons of crude oil each day_我的网站

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    A concept photo of currencies and financial market Illustration: VCG
The Macao Special Administrative Region (SAR) government said on Monday that the central government will issue 6 billion yuan ($889.20 million) of sovereign bonds in Macao on August 20.
This year marks the fifth consecutive year that the central government is issuing yuan-denominated sovereign bonds in Macao, a move that shows the central government's strong support for Macao's appropriate economic diversification and further strengthens the competitiveness of Macao's featured financial industry, according to a joint statement issued by China's Ministry of Finance and the Macao SAR government.
The announcement noted that the issuance features a more diversified structure, which is expected to improve the regular issuance mechanism while providing investors with safer and more stable yuan-denominated investment options.
The Macao SAR government said that the move fully demonstrates the importance the central government attaches to, and its support for Macao in accelerating the cultivation of the bond market, promoting the quality development of the featured financial sector, and fostering the appropriate diversification of the economy. 
The continued issuance of sovereign bonds is believed to attract a broader spectrum of high-quality issuers and international investors to participate in Macao's bond market, better leverage Macao's advantages and strategic role in the nation's opening-up, and support Macao in better integrating into and serving the overall national development, said the statement released by the Macao SAR government.
With this issuance, the cumulative yuan-denominated sovereign bond issuance in Macao will reach 27 billion yuan since the Ministry of Finance first entered the market in 2019. 
Global Times
。         Construction of the Lianyungang-Yizheng crude oil pipeline, a key national oil and natural gas transport project  File photo: Courtesy of PipeChina
The Lianyungang-Yizheng crude oil pipeline, a key national oil and natural gas transport project, successfully commenced operations on its Lianyungang-Huai'an section on Thursday, PipeChina, the project developer, told the Global Times. The project can transport over 18 million tons of crude oil per year.
This marks the first 10-million-ton-level crude oil pipeline to be put into operation since the start of China's 15th Five-Year Plan (2026-30) period and is of significant importance for optimizing the country's energy supply structure in the central and eastern regions and improving the "nationwide one-network" layout of oil and gas infrastructure.
The Lianyungang-Huai'an section of the Lianyungang-Yizheng crude oil pipeline project has a total length of 143.8 kilometers and a designed annual transportation capacity of 18.5 million tons. Construction on the section began in October 2024 and was completed in June.
The pipeline has a diameter of 813 millimeters and a design pressure of 8.5 MPa. Up to 70,000 tons of crude can be pumped daily to Yizheng, a hub in East China, serving refineries in East China's Jiangsu Province and along the Yangtze River, strengthening energy supply security, the company said.
The commissioning of the new pipeline will further optimize the oil and natural gas pipeline network in the Yangtze River Delta region and the coordinated allocation over imported crude resource, PipeChina said.
Global Times
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