In the Chinese style financial model, the People's Bank of China will issue RMB funds backing

The following is the continuation of the previous chapter.
Even if they want to print it, they can not get it.
In the Chinese style financial model, the People's Bank of China will issue RMB funds backing foreign currency.
And finance through state-owned commercial banks etc.
As it expands production and real estate markets and boosts the economy, capital flows from overseas.
Most of the investors are Hong Kong-based party executives Chinese companies and investment institutions, but they are never patriots.
When real estate market conditions start to deteriorate, they will transfer money next time to tax haven via Hong Kong.
That is a capital flight peculiar to the Chinese economy. 
Capital leaks are due to the fact that the yuan is sold in large quantities in the foreign exchange market, the former crash has occurred, and the Chinese investor who saw it is trying to escape money more and more outside.
Since the People's Bank sells foreign currency and buys and supports yuan, foreign exchange reserves are reduced.
The Communist Party regime is afraid that the renminbi's credit is lost as a result of issuing the Renminbi without supporting foreign currency, ie dollar assets.
Chiang Kai-shek's Kuomintang regime rushed bills, it caused the malignant inflation and was abandoned by the people, based on the history lost to the Communist Party of Mao Zedong who kept currency discipline.
On the other hand, if you do not supply yuan funds, the whole Chinese economy becomes a financial problem and fall into a major depression, so inevitably you may issue yuan, but there is a limit.
In the past, the People's Bank issued 100% dollar assets to issue yuan funds, but recently it has cut down 60%.
They can not help hesitating to the financial numerical expansion any more foreign currency property pulling-out.
After all, the state-owned banks lend priority to the state-owned large enterprises of Xí Jìnpíng State President auspices, but discontinue new financing for private SMEs and start-up companies.
Do not turn money to nonbank or local governments.
As a result, the bankruptcy of small and medium enterprises continues, and local governments, which have steadily streamlined real estate development, have difficulty in repaying debt. In case
This graph briefly shows the deadlock of the Chinese financial model. We compare and compare the annual total amount of new lending by banks and nonbanks, the year-over-year increase in foreign currency reserves and total foreign borrowings on a dollar basis.
What makes me think about it is that these three indicators work closely together.
Foreign exchange reserves shrank from the second half of 2015 and then picked up in the second half of 2017 but decreased again in the second half of 2018.
As mentioned above, the decline in foreign exchange reserves is caused by huge capital flight, and the Xí Jínpíng regime is jamming in crackdown.
They arrested party executives and popular actress involved or long-term detention, orders bigger investors to sell and collect overseas assets.
This draft continues