If I understand this correctly: 1.) The Yuan and Chinese stocks dipped severely. 2.) The Chinese Central bank put up $20bn to compensate. If my understanding

If I understand this correctly: 1.) The Yuan and Chinese stocks dipped severely. 2.) The Chinese Central bank put up $20bn to compensate. If my understanding is correct, this could be good for the Chinese economy? It reduces the value of Yuan to the ROW (rest of the world), thereby decreasing the cost of Chinese goods and increasing exports to the ROW. I'd like to caveat with my knowledge of the Chinese economy and how it operates is probably well outdated. Last I knew, it's growth was very export driven and thus dependent on foreign markets. It was also very strongly influenced by the Chinese government. It may now be the case now that it has enough inertia from those days to grow (and hit financial targets) by simply bringing up its own population (economically). Thus this is a real risk in the Chinese economy and I am an ignorant ass. Would anyone mind illuminating the situation for me with with some data, please? I'm happy to have been way off the mark and an ignorant ass. Learning is cool.