China saw a surprise increase in U.S. orders ahead of the Trump-Xi summit
According to CNBC Economy, American businesses increased orders for Chinese goods ahead of the Trump-Xi summit, with the U.S.-bound orders index rising to 13 in September from a year earlier. The China Beige Book survey of 1,296 Chinese firms from Sept 1-22 shows overall Chinese orders still below last year's levels, but the data align with expectations for a more stable bilateral relationship. The leaders are expected to meet at the APEC summit in Shenzhen in November and potentially on the sidelines of the G20 summit in December.
Key facts
- 01U.S.-bound orders index for China rose to 13 in September, from a year earlier (negative 12) and 3 in August.
- 02China Beige Book surveyed 1,296 Chinese companies from Sept 1-22.
- 03Overall Chinese domestic and export orders remained below last year's levels; new orders weakened from August.
- 04A two-month extension of the U.S.-China trade truce to January kept tariffs lower and paused certain restrictions on rare earth exports and port fees.
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