Odaily Planet Daily News - Li Yang, a member of the Chinese Academy of Social Sciences and chairman of the National Financial and Development Laboratory, stated that the United States' push for stablecoin legislation aims to strengthen the position of the US dollar, promote payment modernization, and create new demand for US Treasury bonds. Stablecoins are essentially an extension of the US dollar on the blockchain. In the face of this trend, China should firmly promote the internationalization of the Renminbi and adapt to the integration of stablecoins with traditional finance, fostering the complementary development of Renminbi stablecoins and central bank digital currencies. Li Yang suggested making full use of Hong Kong's advantages to develop offshore Renminbi stablecoins and establish controllable international payment channels. (National Financial and Development Laboratory)