Since Trump won the United States presidential election, because the renminbi is under pressure, Beijing in November, spent $69 billion to support its currency.
According to official figures released Wednesday showed that mainland China's foreign exchange reserve has fallen below $3.1 trillion, a record low since March 2011. Foreign currency reserves reduced, further confirmed that Trump claimed that China is deliberately holding down the Renminbi, to increase the competitiveness of exports, are simply nonsense.
Economists say that China's keeping the Yuan, may well be true in the past, but from 2005 to 2014, the Renminbi has risen sharply.
Recently, China spent tens of billions of dollars, buying their currency to stem its rapid decline.
After decades experienced rapid growth in recent years, China's economy continues to slow, large sums of money flows abroad, making the Yuan under pressure.
August 2015 with January 2016, the Yuan fell sharply and triggered panic in global markets. When capital outflow to China, meaning that people selling renminbi and buying dollars, euros and other currencies. China using foreign exchange reserves, to be balanced.
This is the strategy used by many countries, but this would consume much-needed reserve fund. Capital Economics said in a report released by the company: "significant drop in China's foreign exchange reserves last month, displayed in the face of the rising dollar and speed up the outflow of funds case, its central coded intervention.
Since Donald Trump after the victory, in anticipation of the Federal Reserve (Fed) would raise interest rates this month and United States growth and inflation likely to rise, the dollar against many currencies have rallied sharply. Yuan against the dollar and fell to eight-year lows.
Meanwhile, outflows from China seems to be accelerating.
Last month, according to the Institute of international finance estimates that this year has more than 540 billion US dollars out of China, nearly 10% per cent higher than a year earlier.
And since last month, flow kinetic energy may continue to accelerate. Capital Economics said in a report released by the company: "November outflows hit a currency panic at the beginning of this year, the highest level since May.
」 The research agency said, to say that the new "currency crisis", a fear of too early, as the dollar rose, in the next few months, is unlikely to repeat itself, it will make it easier for mainland China to handle Renminbi to depreciate slowly.
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