贝松敦促国际货币基金组织和世界银行对中国采取更强硬的立场。美国财政部长斯科特·贝森特周五发出具体的行进命令，要求国际货币基金组织和世界银行对中国国家驱动的经济行为采取更强硬的立场，作为他推动全球银行重新关注其核心使命的一部分。

Bessent urges IMF, World Bank to take tougher line on China.U.S. Treasury Secretary Scott Bessent on Friday gave specific marching orders for the International Monetary Fund and World Bank to take tougher stances on China's state-driven economic practices as part of his push to get the global lenders to refocus on their core missions.

特朗普淡化与中国的不和，风险偏好上升。来得容易，去得容易，来吗？特朗普公开表示，他认为中国的情况会很好，当被问及对中国的高关税是否会持续时，他回答说“不”。

Risk appetite picks up as Trump plays down feud with China.Easy come go, easy go come? Trump is out speaking and saying that he thinks things will be fine with China and when asked if the high tariffs against China will stand, he responded with a "no".

周五，中国10年期政府债券收益率跌至1.75%左右，触及六周低点，受进一步政策宽松的预期和美中贸易紧张局势的影响。9月份的数据显示，消费者价格和生产者价格持续面临通缩压力，这为中国央行提供了更多进一步宽松的空间。市场注意力现在转向下周中国第三季度GDP和LPR利率决定。据估计，中国经济在第三季度可能以一年来最慢的速度增长，预计放缓将加剧，并可能威胁到官方增长目标，增加新刺激措施的压力。与此同时，北京最近指责华盛顿故意加剧对稀土管制的恐慌，而美国官员警告称，此类措施可能会扰乱全球供应链，加剧了人们对两国总统预期会晤前紧张局势加剧的担忧。

China’s 10-year government bond yield fell to around 1.75% on Friday, hitting a six-week low, weighed down by expectations of further policy easing and ongoing US–China trade tensions. September’s data showed persistent deflationary pressures for both consumer and producer prices, giving the PBoC more room for additional easing. Market attention is now shifting to China’s Q3 GDP and LPR rate decision next week. Estimates suggest that China’s economy likely grew at its slowest pace in a year during the third quarter, with the slowdown expected to intensify and potentially threaten the official growth target, increasing pressure for new stimulus measures. Meanwhile, Beijing recently accused Washington of deliberately fueling panic over rare earth controls, while US officials warned that such measures could disrupt global supply chains, heightening concerns about deepening tensions ahead of an expected meeting between the two presidents.

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The offshore yuan traded around 7.13 per dollar on Friday, hovering near its highest level in three weeks, as the PBOC continued to guide the currency stronger to preserve market stability ahead of a key Communist Party plenum next week. The central bank lifted its daily reference rate for the third consecutive session to a one-year high, a signal interpreted by investors as a firm policy stance favoring yuan stability. Analysts noted that unlike in past periods of tariff escalations, the yuan has remained relatively steady this year, underscoring Beijing’s determination to prevent excessive depreciation amid renewed trade tensions with Washington. The latest tensions stemmed from new US tariff threats and China’s tighter rare earth export controls, though markets still expect dialogue between Presidents Xi and Trump to proceed later this month. Investors now focused on China’s upcoming third-quarter GDP and other key data, which could influence future policy stimulus measures.