People’s Bank of China Governor Pan Gongsheng said on 18 June that Beijing will step up efforts to expand the international use of the digital yuan, positioning the state-backed electronic currency as a viable settlement option in cross-border trade and investment. Pan argued that the global monetary order is poised to become "multi-polar," with “a few sovereign currencies co-exist[ing], competing with each other and checking and balancing” one another. He urged policymakers and market participants to prepare for a system in which several major units of account share reserve-currency status, thereby reducing what he called excessive reliance on the US dollar. The remarks, among the clearest yet from a senior Chinese official, underscore Beijing’s wider strategy to challenge dollar dominance and insulate its financial system from geopolitical risks. They come as Washington signals tolerance for a weaker dollar to support exports and amid lingering trade frictions between the world’s two largest economies.