The offshore yuan strengthened to around 6.71 per dollar on Monday, rebounding from the previous session as investors digested the latest developments from the recently concluded Trump–Xi summit. The United States and China announced a plan to reduce tariffs on roughly $30 billion worth of imports from each side, while also agreeing to extend their trade truce through January.
Still, the summit stopped short of major breakthroughs on core issues, including cooperation on artificial intelligence and the conflict involving Iran. Beijing’s attempts to persuade Washington to scale back arms sales to Taiwan also appeared to yield limited progress, underscoring the enduring strains in bilateral ties.
On the domestic front, China’s industrial profits rose 15.7% year-on-year to CNY 5.27 trillion in the first eight months of 2026, easing from a 17.6% increase recorded in the January–July period.
