China controls the use of CNY to buy non-domestic things, particularly foreign exchange. Domestic companies and savers‘ “movement” of the currency is tightly co

China controls the use of CNY to buy non-domestic things, particularly foreign exchange. Domestic companies and savers‘ “movement” of the currency is tightly controlled, and the government has immediately tightened the screws on everyone before. USD is not controlled in this manner, which makes it pretty easy to obtain. One of the important features of a reserve currency is easy obtainability and convertibility, but this runs counter to China’s internal stability goals.