One of the trends of digitalization processes is the imposing of digital currencies aimed at simplifying and enhancing the transparency of settlements. China is actively promoting the digital yuan through the existing payment infrastructure. However, the country also faces a number of obstacles caused by U.S. sanctions’ pressure, as well as the emergence of digital currencies in a number of other states. Despite this, in international finance, there is a decrease in interest on the part of states in using the U.S. dollar in international settlements, which creates new conditions for the active development of the Chinese digital currency. In the course of the work, both general scientific methods were used, as well as special research methods such as collecting scientific sources, collecting information, economic and statistical analysis, SWOT analysis and scenario method. Within the framework of the article, a schematic description of the two-level digital yuan system was presented, strengths, weaknesses, threats, as well as scenarios for the development of the Chinese digital currency were identified. It was determined that the growth rate of the digital yuan is steadily growing, which is accompanied by an increasing trend towards a decrease in interest in the use of the dollar in international finance. Analysis of trends in the development of the digital yuan showed that the most promising development scenario in the coming years is the active conclusion of bilateral economic agreements with other countries related to the transition to the yuan in international settlements, as well as an increase in the number of wallets among the population of the country (wallets are owned by just over 10 percent of the population).
Key words: digital currency, digital yuan, digitalization, digital economy, international finance, cryptocurrency, world economy.
DOI: 10.56429/2414-4894-2024-47-1-80-95