Li Lihui: Digital currency will form a financial system across commercial banks

According to Sina Finance News, "2019 Financial Reform and Innovation Senior Forum and Peking University Cao Fengqi Financial Development Fund's 8th Awarding Ceremony" was held in Beijing on October 19. Li Lihui, former president of the Bank of China and member of the NPC Financial and Economic Committee, said in his speech that digital currency will form a financial system that spans commercial banks. It may start with payments, enter savings, enter investments, enter financing and insurance and asset management, and it may be intended to replace current financial institutions. Finally, if our renminbi cannot be included in the super-sovereign digital currency system, we will also face the challenges of future RMB internationalization.