Exchange Rate Update
As of 11:00 a.m. on 12 January 2026, the real-time market exchange rate of the British pound against the Chinese yuan stood at 1:9.3729. The pound’s performance has been primarily influenced by a rebound in UK GDP growth, a continued easing of inflation, and signs of moderation in the labour market. At the start of the year, global capital has been reallocated, with sterling benefiting from improved economic expectations and a high interest rate environment, providing underlying support.
Key Events This Week
The UK hit by winter storm “Goretti”
Poll shows most voters misjudge immigration trends
Electronic Travel Authorisation (ETA) system comes into force
Financial pressure on UK households intensifies
UK fishing industry adapts to new EU fishing rules
01 The UK Hit by Winter Storm “Goretti”
In recent days, Storm Goretti has swept across large parts of the UK since 8 January, bringing severe weather conditions that have disrupted transport, power supplies, and daily life for residents.
During the storm, numerous flights and long-distance rail services were cancelled or significantly delayed. Major airports and rail operators issued advisories urging passengers to revise travel plans. Strong winds also brought down trees, leaving thousands of households without electricity for short periods, as energy providers and local authorities worked overnight to repair damaged infrastructure.
Local authorities and community support organisations implemented emergency measures, including opening temporary shelters, providing hot drinks and basic medical assistance, and advising elderly and vulnerable residents to stay warm and avoid unnecessary travel.
Public health agencies also issued health warnings, noting that extreme cold could exacerbate respiratory and cardiovascular conditions. Overall, the weather event has served as an early test of the UK’s social governance and infrastructure resilience at the start of the year.
02 Poll Shows Most Voters Misjudge Immigration Trends
On 10 January, a newly released UK public opinion survey revealed that around two-thirds of respondents believe immigration numbers are still rising, despite official figures indicating that net migration has declined. The findings highlight a significant gap between public perception and government statistics.
Official data show that net migration levels in the UK have fallen over the past year. However, confidence in the government’s ability to manage borders and immigration policy remains low among respondents. Many cited concerns about employment opportunities, housing pressures, and the strain on public services as key issues.
Analysts suggest that this perception gap may be influenced by media coverage, local labour market conditions, and individuals’ personal experiences, rather than by an objective assessment of national data.
Even when official statistics point to a change in overall trends, public opinion is often shaped by everyday encounters with immigration in local communities, reinforcing the impression that migration levels continue to rise.
03 Electronic Travel Authorisation (ETA) System Comes into Force
From 8 January, the UK formally implemented the Electronic Travel Authorisation (ETA) system. Travellers from visa-free countries are now required to obtain ETA approval before travelling to or transiting through the UK. Without a valid ETA, passengers may be denied boarding by airlines or other transport operators.
According to official guidance, from 25 February 2026 the policy of “no authorisation, no travel” will be strictly enforced. Airlines, ferry operators, and rail companies will be required to verify passengers’ ETA status and refuse travel to those without valid authorisation.
The ETA currently applies to approximately 85 visa-free countries and territories, including EU member states, the United States, Canada, and Japan. The application fee is £16, and the authorisation is generally valid for two years or until the traveller’s passport expires. British and Irish passport holders are exempt from the requirement.
The system applies to short-term visits for tourism, business, and family purposes, but does not replace long-term visa requirements such as work or student visas. Its introduction is intended to enable earlier risk screening, improve data transparency prior to arrival, and align the UK with international digital border management practices.
04 Financial Pressure on UK Households Intensifies
A recent UK household survey indicates that the cost-of-living crisis remains one of the most pressing concerns for the public. More than half of respondents reported a deterioration in their household financial situation over the past year, with many feeling increasing pressure from food and energy costs.
The survey found that 44% of respondents had struggled to pay food bills in the past three months, while 37% reported difficulties in covering energy bills. Nearly half stated that their overall household financial position had worsened over the past year, and fewer than 10% said their situation had improved.
Overall, more than 54% of the public ranked the cost of living as a top issue, ahead of immigration, healthcare, and other social concerns.
These findings reflect widespread concern across UK society about rising prices and tightening household budgets. Energy costs, food price inflation, and rent burdens remain the primary sources of financial strain, directly affecting daily living standards and long-term financial planning.
05 UK Fishing Industry Adapts to New EU Regulations
From 10 January, the European Union implemented new fisheries control regulations, which also apply to UK vessels operating in EU waters, placing additional adjustment pressures on the UK fishing industry.
Representatives of UK fishing organisations noted that updating catch records and installing required monitoring equipment during peak fishing seasons would increase operating costs and could affect the economic viability of smaller vessels.
UK government officials stated that support would be provided to help fishers understand and comply with the new rules, including technical assistance where necessary. Industry stakeholders expect that, over the long term, improved data transparency and stronger environmental protection measures will contribute to the sustainability of fish stocks.
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