This kind of practice is not very conducive to China's long-term growth.
More seriously, China's economy would take a big hit if the US dollar weakened sharply due to such factors as a bursting of the US property bubble. The loss for China's foreign exchange reserves would be extremely serious.
Because China's fiscal situation in relatively sound, the government has relatively great leeway to use expansionary fiscal policy.
It is a pity that when we made such an important change, we didn't get any commitment from the U.S. and other countries
It's not affordable for China to continue to absorb such a huge increase in foreign exchange reserves,
The central bank could scrap the way it automatically determines the closing rate of the yuan and determine it on its own.