Li Yang, Chairman of the National Finance and Development Laboratory: Libra has to go a long way to become a currency

According to Sina Finance News, on July 12th, the mobile payment innovation service industry upgrade and high-quality development seminar was held in Beijing. Li Yang, member of the Chinese Academy of Social Sciences and chairman of the National Finance and Development Laboratory, talked about the hot Libra. He said that Libra needs to go a long way to become a currency. Li Yang believes that Libra's currency exists in two systems, one set is similar to SDR, and several currencies are weighted by some weight to form an asset package. The other is to reinvest the funds it raises into a series of highly liquid assets traditionally invested by the central bank, similar to money market funds. In daily operations, whether it is based on a basket of currencies or based on money market funds, this is in conflict. This is the direction Libra still needs to explore.