S. owes China lots of money.

美国欠中国很多钱。

youdao

If the U. S. prints money while China effectively still pegs its currency to the dollar, both parties benefit.

如果美国印刷货币而中国仍有效地将其货币紧盯美元，两方都将受益。

youdao

Talking at China's Business Summit, China's Vice Premier Zeng Peiyan said China would adjust its money supply and credit and take "comprehensive measures to mop up liquidity in the banking system".

BBC: NEWS | Business | China trade surplus at new high

Perhaps even more to the point, China's M2 measure of money supply was up 19.5% this November compared to last (Want China Times, quoting China's Southern Weekly, has an excellent, concise article on this subject here, and really nails the issue on its head).

FORBES: Too Early To Declare Victory On China's Inflation

Also pressuring the market are expectations that funding conditions in China's short-term money market will get tighter toward the end of the year, when demand for cash typically surges for gift purchases and bonus payment, analysts said.

WSJ: Gloom Over China Stocks Deepens; A 4-Year Low