The offshore yuan remained steady around 7.07 per USD, holding near one-year highs, with markets focused on the upcoming Central Economic Conference for cues on 2026 policy direction. Beijing’s year-end economic gathering, where officials are expected to outline next year’s priorities for the world’s second-largest economy, will be shoring up resilience ahead of renewed strategic tensions with the US, reflected in China’s push to reduce dependence on foreign technology. At the same time, investors will watch for signals on how policymakers plan to tackle domestic headwinds. The Politburo has recently reaffirmed the need to bolster demand, as the property downturn and a soft labor market continue to weigh on activity. Meanwhile, economic indicators remained uneven, where growth has outperformed expectations and exports have held up despite US trade pressures. However, deflation persists and business and consumer sentiment are still subdued.