Why has central bank governor Pan Gongsheng repeatedly mentioned stablecoins?

It's because stablecoins themselves are a tool for a country's monetary authority to expand credit,

which will strengthen a nation's monetary hegemony and fiscal power in the future.

How did USDT grow?

Old investors know that back in the day, you could directly trade cryptocurrencies with RMB.

At that time, you could buy coins just by transferring money through the bank.

Later, they had to shut down cryptocurrency exchanges and prohibit direct RMB to Bitcoin exchanges.

But the demand for trading cryptocurrencies didn't disappear.

Thus, the USDT dollar token suddenly grew during that time.

By the way, Binance also grew during that time.

Then, various domestic media spent the whole day claiming that stablecoins were a scam.

Back then, there were even many exchanges creating RMB tokens, such as BTCH's QC, but after all, you kept yelling about banning them, so the RMB stablecoin never had much of a survival ground.

Instead, USDT later led to BUSD (which has now disappeared with Binance's retreat), USDC, and a whole bunch of dollar tokens.

As a stablecoin pegged to the dollar, it somewhat mitigates the negative effects of currency overissue.

After all, it’s like having an additional reservoir.

And there indeed was a fertile ground for RMB stablecoins back then, many exchanges were actually working on them; wasn’t it your own shouting and attacking that led to their demise?

You killed them back then, and now you see stablecoins starting to alleviate the negative effects of currency overissue, and you want them again?

What I’m saying is that many industries need to develop gradually. It’s like you insisted on banning game consoles back then, and now you shouldn't complain about graphics cards being in short supply. You wanted land finance to give civil servants high benefits, and now you shouldn’t complain about real estate deeply binding the economy.

You insisted on not allowing even one more birth, and now you shouldn’t complain about the fertility rate being negative.

The development of things requires a fertile ground; it’s not that you want something and it can immediately serve you.