Chinese government bonds (denominated and settled in RMB) can only be purchased in RMB. Just buy Japanese bonds in yen and U.S. bonds in dollars. A truth.

U.S. Treasury Bonds AA+ (safe haven assets) Japanese Treasury Bonds AA- (safe haven assets) Chinese Treasury Bonds AA+ Only Chinese Treasury Bonds are not negotiable and are not a safe haven asset. Countries may not necessarily have the same purpose in buying national debt. For example, the United States will not buy non-U.S. bonds (the United States also has no foreign exchange reserves). Japan and China are the two largest overseas holders of U.S. debt. The United States is trying to control the world through finance (the U.S. is number one in the financial and economic world), Japan is trying to control manufacturing exports (Japan is number one in the world in industrial manufacturing), and China is facing the problem of upgrading. The United States ranks first in GDP, Japan and China are tied for second in GDP, but in fact China is third (industry is not as good as Japan). Countries are now divided into the first level financial countries (futures, stocks and other virtual economies, such as the United States), the second level industrial countries (manufacturing heavy industry exports, such as Japan), and the third level export-driven economic countries (light industry exports, such as China). ), the fourth tier of countries exporting bulk commodities (food and resource exports, such as Australia). The essence of China's economic transformation is to upgrade to a second-tier country. The question you asked can actually be interpreted as China’s ultimate goal, which is to upgrade to a first-tier financial country and control the world economy by relying on the issuance and repurchase of currency and government bonds (controlling finance means controlling the world, such as the United States) of U.S. dollar banknotes and U.S. Treasury bonds).