First of all, I highly doubt that would be the case. But there are still worthy steps to take along that direction:

  1. Encourage RMB denomincated settlement, even at a cost. It is understandable why people prefer USD denominated settlement over RMB denominated one, even China is the factory of the world. However, there must be industries where Chinese side has leverage and bargining power to push the counterparty into RMB denominiated settlement, at least partially.

  2. Starting Somewhere There are shadowy side of finance such as petro dollar, drug cartels, bloody dimonds etc. That entire sector of finance is dollar denominated, or even dimand denominated. If they can take RMB instead, that would increase the circulation and demand overnight.

  3. RMB Digital Currency, build up a dominant position first Clearly, this technology comes with legal burden. However, the promise of convenience seems to suggest its long term need. It can be sorted out over a contingency table. If it fade way in the future but you did devote resource into it, the worst could happen is that you wasted resources. Yet, if it assume dominance in the future and you did not devote resources there, it would be unlikely that you can ever catch up. So the best strategy here is to move fast, take on a dominant position at a cost and sort out legal issues later.