China’s 10-year government bond yield held steady at around 1.85%, as robust trade data suggested that the economy remains poised to achieve the official annual growth target. The trade surplus widened to USD 111.7 billion in November from USD 97.3 billion a year earlier, surpassing expectations of USD 100.2 billion and marking the largest surplus since June. The historic surplus is expected to bolster GDP growth following months of slowdown, reinforcing expectations that China is on course to meet its official annual growth target of around 5%. Exports rebounded 5.9% year-on-year to USD 330.3 billion in November 2025, exceeding market expectations, while imports rose more slowly, increasing 1.9% to USD 218.7 billion, falling short of forecasts. Investors are now focusing on this week’s inflation data, seeking insights into China’s monetary policy stance and broader economic outlook.
