The offshore yuan weakened to around 7.15 against the US dollar on Friday, retreating from an over eight-month high reached in the previous session, as investors cautiously awaited next week's high-stakes US-China trade negotiations. Following US Treasury Secretary Scott Bessent's confirmation of the trade talks, he noted that the issue of TikTok could be on the agenda, warning that if Beijing fails to approve a divestment deal involving ByteDance, the platform could soon be banned from operating in the US. Meanwhile, President Trump hinted at the possibility of a visit to China "in the not too distant future," a move that may represent an attempt to stabilize the strained trade relationship between the world’s two largest economies. Looking ahead, investors are bracing for China’s industrial profits report this weekend for signs of how companies are coping with tariff challenges. Despite Friday's loss, the currency is on track for weekly gains.