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<li>So far this year, the onshore spot yuan has depreciated by about 9% to around 7 per dollar, weakening to 7.3200 per dollar in early November — the lowest since December 2007.</li>
<li>The weaker yuan has prompted more orders because some merchants cut their prices denominated in U.S. dollars.</li>
<li>Due to waning global demand, Chinese goods exports in dollar terms<a href="https://www.caixinglobal.com/2022-12-16/in-depth-why-chinas-exports-are-in-the-doldrums-101978927.html" target="_blank" rel="noopener"> contracted 8.7% year-on-year</a> in November</li>
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So far this year, the onshore spot yuan has depreciated by about 9% to around 7 per dollar, weakening to 7.3200 per dollar in early November — the lowest since December 2007.
The weaker yuan has prompted more orders because some merchants cut their prices denominated in U.S. dollars.
Due to waning global demand, Chinese goods exports in dollar terms contracted 8.7% year-on-year in November


Chinese Exporters Lose Some of Their Edge From a Weakening Yuan