China's yuan hovered at a three-week high against the dollar on Monday on rising hopes for an improvement in Sino-U.S. relations, while sightly better-than-expected October activity indicators also lent support to the local currency. Traders said the main focus would be a virtual meeting between U.S. President Joe Biden and his counterpart Xi Jinping on Tuesday, with some investors raising their bets for partial removal of tariffs. "If Sino-U.S. relations improve further, the yuan will continue...
China’s export growth slowed slightly in October to 27.1 percent over a year ago, while imports were up 20.6 percent, the customs administration said Sunday. The trade surplus was $84.5 billion, higher than the $66.8 billion in September. The export and import figures are much higher than a year ago, when much of the world was in the throes of the COVID-19 pandemic, but overall economic growth appears to be moderating. China’s economy has been buffeted by COVID-19 outbreaks and related...
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