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 forecasts of USD 100.2 billion and marking the largest surplus since June. The latest figure 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. Meanwhile, the Politburo signaled plans to boost domestic demand and support the economy with more proactive policies in 2026. The statements were made ahead of the Central Economic Work Conference, where key policy goals for next year will be set.