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The currency is expected to stay appealing even amid the looming interest rate hikes by the U.S. Federal Reserve, thanks to China's stable economic fundamentals, resilient export growth, and the prospect of attractive returns on Chinese financial assets.

The renminbi saw its share of global payments by value hit a record high of 3.2 percent in January, up from 2.7 percent in December.

RMB appreciation attracts more countries to use the currency for settlement when the currencies of major developed countries see less stability, the expert noted.

China's digital fiat currency, or the e-CNY, has evolved into an ever-expanding presence in Chinese people's lives and has shown more charm thanks to growing application scenarios.

Payment scenarios are all in place for venues in the Zhangjiakou competition zone in Hebei Province. Other venues in Zhangjiakou have seen contracts for payment scenarios signed or related arrangements with merchants made.