Why China doesn't want to devalue their currency?

China is pursuing a mercantilist policy: keeping the renminbi weak through a combination of capital controls and intervention, leading to trade surpluses and capital exports in a country that might well be a natural capital importer.

China is probably the biggest producer in the world, and also one of the most successful economically. Currently, we could see that Chinese's currency is a lot more attractive to all the investors around the world. But no manner what happens, China's currency will remain stable in order to attract outside investors as well as increase production. So many investors around the world decided to invest in China because of the low cost of production and easy access to workers due to the fact that China has a large population.