China has a lot of debt, internal debt, so this allows them to pay that debt at a better rate. The apparatchiks are screwing over their own people over a trade war. If some stupid western bank bought Yuans ans loaned them money and are now getting burned, screw these traitors.
I’m pretty sure any foreign banks loaning Chinese companies money are doing so based on their country’s currency or U.S. dollars.
The Chinese government has so much cash on hand, they are loaning it to companies in their own county.
How much of that food China has to import to feed itself can a Nike sneaker assembling peasant afford with zimbabwe-yuan?