China is creating a cryptocurrency to eliminate the mediation of US dollars. This currency will transact in China, they will scale up payments globally.
And how can we prove that the same cryptocurrency won't be converted just like bitcoin or etheruem to the US dollar before buying any other fiat like in exchanges such as binance. China is making themself a big rival to US especially during the Trump regime. The Republicans have there way of trying to make larger political movement and statement, this might be the course of some of the business struggles within those two countries.