Chinese stocks rebounded on Wednesday on optimism regarding the outcome of a planned meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping in South Korea.

The Shanghai Composite Index, the main gauge of Chinese stocks, gained 0.7% or 28.11 points to reach 4,016.33. The Shenzhen Component Index rose 2% or by 261.28 points to 13,691.38.

Chinese state-owned food processing company COFCO said it bought 180,000 tons of U.S. soybeans, Reuters reported Wednesday, citing unnamed trade sources.

The soybean purchase is the first from China for 2025, but traders are wary it could lift demand for U.S. soybeans for this year following a series of big purchases from Brazil and Argentina, according to the report.

Trump and Xi are also set to talk about China's purchases of Nvidia's state-of-the-art Blackwell artificial intelligence chip, according to a separate report by the news agency.

The rise also comes after Trump said he plans to slash U.S. tariffs on China in exchange for cooperation from Beijing to control fentanyl chemical exports, Reuters reported.

Meanwhile, China's new urban jobs reached nearly 10.6 million in the first nine months of 2025, Xinhua News Agency reported Wendesday, citing a spokesperson from the Ministry of Human Resources and Social Security.

On the corporate front, telecommunications equipment maker ZTE's (SHE:000063) Shenzhen shares fell 6% during market close after its third-quarter profit plunged 88%.

Huaneng Power's (SHA:600011) shares closed 7% higher after posting an 89% surge in Q3 profit to 5.58 billion yuan.