# How China Lost $1 Trillion

> The New York Times reports that Chinese companies and families are moving money out of the country because of concerns about the economy. The central bank has been spending billions of dollars of reserves each month to prop up the renminbi. The article links the falling reserves to the government's effort to keep money inside China.

- Date: 2017-02-07 · published 2017-02-07T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/72724-how-china-lost-1-trillion
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Reserve drawdowns and capital flight point to continued pressure on the renminbi, which tends to lift USD/CNY. A weaker yuan can slow China's dollar-denominated feed purchases.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-10-31 | [This Is How China Keeps a Firm Grip on the Yuan](https://feedsoft.ai/events/62766-this-is-how-china-keeps-a-firm-grip-on-the-yuan.md) | -0.7% | -0.4% |
| USDCNY | 2024-10-29 | [How the US election could impact China's markets \| Reuters](https://feedsoft.ai/events/28073-how-the-us-election-could-impact-china-s-markets-reuters.md) | -0.4% | +1.8% |
| USDCNY | 2024-07-12 | [How bad is the Chinese economy?](https://feedsoft.ai/events/12304-how-bad-is-the-chinese-economy.md) | +0.0% | -1.1% |
| USDCNY | 2018-10-30 | [Yuan's slide to decade low puts China in tricky position - Nikkei Asia](https://feedsoft.ai/events/62765-yuan-s-slide-to-decade-low-puts-china-in-tricky-position-nikkei-asia.md) | -0.5% | -0.1% |
| USDCNY | 2022-05-11 | [How PBOC might respond to China's weakening yuan](https://feedsoft.ai/events/10987-how-pboc-might-respond-to-china-s-weakening-yuan.md) | +0.0% | -0.8% |

## Sources

- nytimes.com: https://www.nytimes.com/interactive/2017/02/07/business/china-bank-foreign-reserves.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.