China’s July 6, 2026, submarine-launched ballistic missile test into the Pacific remains the most recent major public launch, with Beijing describing it as routine annual training and issuing only short-notice notifications that drew criticism from the United States, Japan, Australia, and others. Subsequent activity through mid-October has centered on DF-26 readiness drills, coastal live-fire exercises, and routine PLA aircraft and naval patrols around Taiwan, without confirmed additional ballistic missile firings into international waters. These patterns of gray-zone operations and capability signaling, rather than new long-range tests, have shaped trader views that another launch before year-end is unlikely amid stable cross-strait dynamics and no evident escalation triggers in the final months of 2026.