The offshore yuan traded steadily near 6.66 per dollar on Tuesday, supported by strong external trade data as China’s cumulative trade surplus for the year climbed past $1 trillion for only the second time on record. Exports surged 35.2% year-on-year to $412.33 billion in October 2026, underpinned by sustained global demand for AI-related technology products. Imports also posted robust gains, jumping 41.6% to $307.05 billion—the fastest annual increase since May 2021.
Over the first ten months of the year, exports rose 22.7% and imports increased 29.0%, lifting the trade surplus to $1.043 trillion and setting up the full-year figure to surpass last year’s record $1.2 trillion. The yuan also benefited from a weaker US dollar, as markets positioned ahead of October US CPI data, which are expected to show easing headline and core inflation alongside more stable energy prices.
