then it is cheaper to use dollar to purchase stuffs from australia in the first place. Using yuan then convert it to dollar again will incur unnecessary exchange costs, it is inefficient and put burden to businesses. I prefer to use the dollars to import valuable minerals like gold and silver and oil reserves that can be stock in China.  But even that must be done in gradual manner or you can push the prices sky rocketed and diminish the value of the dollars in China hand. There is really no easy and quick way to dump dollars without hurting yourself badly. Russia learned it the hard way. Hopefully China is consistent in dedollarization and not change their mind whenever they think better relationship with the US is possible again. That horse has left the barn long ago.