China has historically tried to devalue the yuan for years, in relation to the US $

thats why the US has such a big trade deficit with china, we can buy so much of what they produce

the appreciation of the yuan would hurt their export industry drastically, it would kill their employment by making wages rise because they currently have such a competitive advantage over the rest of the industrialized countries

China has been buying precious metals(crazy amounts) and other commodities rapidly over the past decade, huge amounts of foreign currency's, their end game is a strong yuan

I dont think they are close to putting on a stop on buying the US $, they need a gradual change from a society that exports to a society that consumes in order to sustain a healthy economy