Investors are betting that U.S. President Donald Trump and Chinese President Xi Jinping will keep trade tensions on the backburner when they meet in Beijing, with focus shifting to the artificial intelligence sector and whether the U.S. will relax chip export restrictions.
China's Shanghai Composite is trading at an 11-year high, and export growth is being driven by AI-related orders, with fund managers showing confidence in China's AI self-sufficiency drive rather than fearing fresh U.S. tariffs despite a widening trade surplus.
The yuan has been steadily rising for a year to reach a three-year peak, contrasting with years of Chinese asset prices swinging wildly on trade and tariff headlines.
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