Guohai Securities (000750.SZ) issued a statement saying that the central bank's initiative to launch sovereign digital currencies was the main initiative to actively strive for a global financial height. On the one hand, Libra is actually a continuation of the hegemony of the US dollar, which will impact the currency sovereignty of various countries and the existing international settlement system. The introduction of a sovereign digital currency will protect the sovereign security and financial security of the RMB. On the other hand, the use of digital currencies can improve the efficiency of cross-border remittances and reduce costs. At the same time, it will bypass the SWIF and CHIPS USD settlement systems, rebuild the RMB-centric global trade settlement system, and promote the deep internationalization of the RMB. In addition, digital currencies in the form of fiat currencies will optimize the existing third-party payment model, guarantee the security of non-cash transactions, and reduce payment costs.