Guoyuan Securities: Digital currency is expected to accelerate

According to the China News Network, from December 10 to 12, the Central Economic Work Conference was held in Beijing. Decision-makers made important speeches at the meeting, summarized the economic work in 2019, analyzed the current economic situation, and deployed economic work in 2020. It is determined that in 2020, we must focus on promoting high-quality development and vigorously develop the digital economy. In response, Guoyuan Securities issued a document saying that looking forward to the future, digital currencies can reduce the high cost of physical currencies and enhance the grasp of information in the transaction process. It is also expected to enrich monetary policy tools, promote cross-border circulation and support the internationalization of the RMB. With the rapid advancement of central bank digital currencies, China is expected to become the first mainstream economy to issue digital fiat currencies.