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Li Daokui, economist at Tsinghua University, delivers a speech at a parallel forum on The Global Implications of China's Financial Reforms of the Summer Davos in Dalian, Northeast China's Liaoning province, June 27, 2017. [Photo/VCG]

The yuan, therefore, will not experience major fluctuations in the coming one or two years.

The operation of the macro economy depends on the stock of currency and the speed of currency circulation. Therefore, there must be someone or a super police to monitor the currency and the police is probably the government. In my opinion, Bitcoin will not replace traditional currency.

-Li Daokui, economist at Tsinghua University and former central bank advisor