I think that the conclusion is incorrect.
Any government may try to convince you to use cashless means of payment because it's cheaper and easier to track. But they have to support the original paper currency too, it may be even in the constitution.
The "cashless" society will not mean in the near future that all the payments will be done without physical cash. Even a 75% would be already a huge percentage. And I guess they may push to 90-95%. Try to see the reality behind the commercials

On another side, also abandoning completely the "cashless society" direction would not surprise me. The ways of Chinese government are quite strange in many aspects, we know that.