Chinese economy and its role in global trade, industry and demand.
Last 90 days
China producer price index rose 5.7% in October from a year earlier, above 5.0% in September and the 5.3% expected, the fastest since June 2022, while CPI slowed to 0.7%, according to CNN Brasil and CNBC.
Updated November 10, 2026 · 18 verified articles
Market transmission
Chinese demand, industrial policy, trade and currencies affect commodities, exporters and global supply chains.
Explanatory mechanism, not a forecast or recommendation.China producer price index rose 5.7% in October from a year earlier, above 5.0% in September and the 5.3% expected, the fastest since June 2022, while CPI slowed to 0.7%, according to CNN Brasil and CNBC.
Brazil overtook Saudi Arabia to become China's second-largest crude supplier in the first nine months of 2026, with 44.29 million tonnes versus 43.12 million, behind Russia, according to Chinese customs data reported by CNN Brasil and Poder360.
Vale said on October 20 it applied to China's NAFMII to register a panda bond program of up to 10 billion yuan, about US$ 1.5 billion, for 2026 to 2028, according to UOL and Investidor10. The filing is not an issuance, which will depend on market conditions.
Brazil reached its annual beef export quota to China, of 1.1 million tonnes, and shipments above that volume now pay an additional 55% surcharge on top of existing tariffs, according to Bloomberg Línea, Poder360, Correio Braziliense and Gazeta do Povo. China is the main destination for Brazilian beef. According to Bloomberg Línea, the charge applies from October 1, per a statement by the Chinese Commerce Ministry.
China announced tariff cuts on US agricultural products such as corn, wheat, meat, dairy, sorghum and oils after the meeting between Donald Trump and Xi Jinping, but kept the additional 10% surcharge on US soybeans. The decision preserves the price advantage of Brazilian soybeans in the Chinese market, although Beijing committed to buy minimum volumes of US soybeans.
Donald Trump and Xi Jinping met at the White House on September 23 and 24, the first such meeting in Washington in a decade, and extended the trade truce between the two countries, which according to Bloomberg Línea now runs until January 10, 2027. The sides discussed tariff exemptions and expanded dialogue on artificial intelligence. Ahead of the meeting, China cut purchases of Brazilian soybeans to fewer than five cargoes in two weeks, against about 20 per week in August, and reopened room for US soybeans, with a commitment of at least 25 million tonnes a year between 2026 and 2028.
Suzano, the largest hardwood pulp producer in the world, told customers on September 22 of a US$ 20 per tonne increase in Asia from October, taking the China range to US$ 590 to 600, and of US$ 50 per tonne in the Americas and Europe, with the European reference price at US$ 1,360. The company cited international price tracking and supply and demand conditions. The Americas and Europe increase comes five months after the previous US$ 50 rise in May; the Asian one comes a month after the last. SUZB3 rose 2.81% to R$ 48.58.
After a bilateral meeting with Uruguayan president Yamandú Orsi in New York on September 21, Lula thanked the authorization for Brazil to use the surplus of the Uruguayan beef export quota to China. Brazil 2026 quota of 1.106 million tonnes ran out in less than seven months, and shipments above it pay a 55% safeguard; Uruguay is said to have about 80,000 tonnes available. Abiec sees limited effect in 2026 given negotiation and transport lead times, and China, which manages the quotas, has not commented; CNN Brasil reports that a swap involving the Brazilian quota in the European Union is being considered, without confirmation.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met on September 20 at JPMorgan Chase's Manhattan headquarters, with Trade Representative Jamieson Greer, to try to close deals on artificial intelligence, tariffs, rare earths and critical minerals ahead of the Trump-Xi summit in Washington this week. The two countries' trade truce expires on November 10, and China's Commerce Ministry said He is leading a delegation of Chinese companies to the consultations.
President Donald Trump signed on September 18 the Russia sanctions law named after Senator Lindsey Graham, passed by the House on September 16 by 262 votes to 159 and by the Senate 86 to 11. The law imposes mandatory sanctions on Putin, senior officials, oligarchs, state companies and the shadow tanker fleet, and gives the government the power to apply tariffs of up to 100% on the five largest buyers of Russian oil and gas, including China and India, at the White House's discretion.
Renault and Geely announced on September 15 an additional R$ 2 billion investment in Brazil through the end of 2027, lifting the group investment cycle in the country to R$ 5.8 billion, with funds for the production of a new electrified Renault model at the São José dos Pinhais (PR) complex from 2027; Money Times details that assembly of the Geely EX2 electric hatch starts in December 2026 and the EX5 hybrid SUV entered production in September, and that the platform now supports combustion, flex hybrid and electric cars.
China's foreign reserves rose US$ 19.55 billion in August to US$ 3.438 trillion, and the central bank bought 650,000 ounces of gold, the 22nd straight month of purchases and the largest monthly gain since October 2023, to 76.73 million ounces.
China's Ministry of Finance led a coordinated injection of 360 billion yuan, about US$ 54 billion, into state-owned banks and insurers, per CNN Brasil and CNBC. Per CNN Brasil, China Life receives 35 billion yuan, China Taiping 7 billion and PICC plans to raise up to 15 billion in a private placement to the Treasury; ICBC and Agricultural Bank of China also benefit. CNBC links the measure to pressure on net interest margins and insurers' solvency.
Brazilian beef exports fell 27.1% in volume in August from August 2025, per Agência Brasil citing MDIC data, after China's 1.106 million tonne import quota hit 90% use on August 10 and additional volumes became subject to a 55% tariff. Shipments to China fell 89.8%, from 158 thousand to 16 thousand tonnes, the worst result since December 2021, per CNN Brasil; O Globo records a 19.7% drop in value.
Brazil's trade balance posted a US$ 7.394 billion surplus in August, the third largest for the month, per Secex/MDIC data released on September 4 and covered by Agência Brasil, g1, Correio Braziliense, InfoMoney and Money Times. Exports to the United States rose 12.1% from August 2025 to US$ 3.19 billion, supported by prices 8.6% higher, while sales to China fell 10.9% and sales to the European Union grew 46.4%.
September 4 update: the text creates a council with power to approve or reject changes of control at critical-mineral miners, per Bloomberg Línea and Poder360. The Senate approved on September 2 bill PL 2,780/2024, creating the National Policy for Critical and Strategic Minerals, with a R$ 2 billion Mineral Activity Guarantee Fund from the Union and R$ 5 billion in tax credits over five years for domestic processing, per Agência Senado, Poder360 and Money Times. The text, reported by Eduardo Braga, goes to presidential signature without returning to the Chamber.
September 4 update: the Chamber and the Senate approved MP 1357/26 on September 3, permanently zeroing the 20% import tax on international purchases up to US$ 50, and the text goes to presidential sanction, per Correio Braziliense, g1, Agência Brasil and Money Times. In the US$ 50 to US$ 3,000 band the rate falls from 60% to 30%, and rare-disease medicines become exempt.
Shein debuted on the Hong Kong exchange on September 1 with a US$ 26 billion valuation after raising US$ 1.7 billion in its IPO, per Bloomberg Línea, Brazil Journal, NeoFeed and Gazeta do Povo. The stock opened at HK$ 48.56, fell as much as 10% and closed at HK$ 48.5, per Bloomberg Línea; the value is a fraction of the US$ 100 billion assessed in 2022.
China requested to join the consultations opened by Brazil at the World Trade Organization over U.S. tariff measures. Beijing cited a commercial interest because some restrictions also reach Chinese products.