China's currency woes are worse than many people think and this is putting the yuan under pressure. Even China's large holdings of U.S. Treasuries is not enough to offset the large amount of debt that has grown in their system. Since the 2008 financial crisis Chinese bank assets, and by implication liabilities, have exploded by an astounding $15 trillion, bringing the total to over $24 trillion.
In other words, China has expanded its financial balance sheet by 50% more than the assets of all global central banks combined and that today China's debt has become the biggest wildcard for the stability of the global financial system. This topic is explored in the article below.