Analysts seem divided on whether this is the start of a more flexible currency regime for China or an old-style devaluation. It appears to be a bit of both. China's economy has been struggling and a weaker currency would give it a boost, although most commentators say a steeper fall would be needed for a real impact.
The length of time depends on the severity of the offense. Most points (illegal turn, not making a complete stop, driving over the speed limit, etc.) and/or accidents will stay on your driver record for 39 months (3 years, 3 months). Points for more serious offenses, such as hit-and-run or a DUI, will stay on your record for 13 years.
Following are some examples of how long convictions of violations that drivers are ticketed for will stay on a person's driving record. Most traffic offense convictions will remain on your record for three years from the violation date and count as 1 point. Accidents are reported for 3 years from the accident date.