I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?
No government in the world can make a coin that is better than Bitcoin, even if they really wanted to, because you can't just hire people and tell them to create the best cryptocurrency in the world. It takes talent to make a great cryptocurrency, and currently most of the talent is concentrated in Bitcoin. This is why I'm not worried that an altcoin, a company or a government will dethrone Bitcoin, Bitcoin is miles ahead of them all.
Also, governments aren't interested in creating a true cryptocurrency, they want to make centralized shitcoins that are fully under their control - those things can't compete with Bitcoin, they attract totally different people.
More power in setting rules and standards internationally!!
It felt like they already achieved that already. But learning now that China intend to dominate, i will definitely invest projects in these area. If the only way to do it is to first buy digital yuan, then I guess most of the investors are also going to need digital yuan. Centralized as it may seem, its exactly what they need. What the government needs.
