Japan seeks a bilateral meeting between Prime Minister Sanae Takaichi and President Xi Jinping on the sidelines of the November 2026 APEC leaders’ summit in Shenzhen, a step that would resume the pattern of annual leader-level engagement. Ties have remained strained since Takaichi’s November 2025 remarks on a potential Taiwan contingency, prompting Beijing to limit high-level contact and impose trade measures. Recent signals from Chinese officials and a former Japanese foreign minister’s Beijing visit have been mixed, leaving prospects for a Shenzhen encounter unclear. Traders are monitoring Tokyo’s diplomatic outreach, Beijing’s willingness to host or sideline the Japanese leader, and any statements tied to the APEC timeline that could confirm or rule out a face-to-face meeting.