11:17:48
中国 China
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The offshore yuan edged lower to around 7.14 per dollar on Monday, as thin trading during China’s Golden Week holiday kept market activity subdued. The yuan, however, maintained a negative bias, extending modest losses from the previous session amid a firmer US dollar. The greenback strengthened as markets assessed the impact of the ongoing US government shutdown, following another round of failed negotiations by lawmakers to pass a funding bill. Meanwhile, on the latest trade updates, China has offered a potential $1?trillion investment package to the US to ease restrictions and lower tariffs on inputs for planned factories. On the US side, President Trump recently indicated that he intends to urge Chinese President Xi Jinping to boost US soybean imports during their upcoming meeting, as American farmers continue to feel the impact of trade disputes. He plans to meet Xi on the sidelines of the APEC summit in South Korea at the end of October and also plans to visit China next year.
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