The offshore yuan steadied around 6.79 per dollar on Monday, remaining at its strongest level since February 2023, supported by robust trade data ahead of a highly anticipated meeting between Presidents Donald Trump and Xi Jinping. Exports surged 14.1% year-on-year to a record USD 359.44 billion in April 2026, beating expectations and sharply accelerating from March, supported by investment tied to the global AI boom despite shipping disruptions caused by the closure of the Strait of Hormuz.
Imports also jumped 25.3% from a year earlier to a fresh all-time high of USD 274.62 billion, signaling resilient domestic demand. Meanwhile, annual CPI came in above expectations at 1.2% in April, while PPI recorded its second straight month of increases at 2.8%. Investors are now focused on the closely watched Trump–Xi meeting in Beijing later this week, where the two leaders are expected to discuss the Middle East conflict, Taiwan, and a new framework for trade negotiations.
