China posts $1.1 trillion trade surplus; November exports up 5.9%, chip IPO frenzy

China recorded a $1.1 trillion trade surplus, with November exports up 5.9% and imports rising 1.9%, producing a $112 billion monthly surplus. Shipments to the U.S. fell 29% in November, while demand from the EU and Africa strengthened. Retail investors piled into chip IPOs, with MetaX and Onmicro oversubscribed roughly 2,986x and 2,899x.