China will continue to bet on the US dollar. For a very simple reason: Besides Japan, China owns most of the US government bonds and thus indirectly also USD. If China were to break away from the US dollar, they would sell the government bonds first, which according to current official figures they are not doing. For commercial transactions, it may make sense not to rely on a foreign fiat currency as an intermediate currency and to build an own electronic system. The only question is whether this can prevail. Because then all other countries that trade with China must also use the cryptocurrency and no longer the USD.