The Chairman of the Hong Kong Financial Development Council, Hong Pik-cheng, recently stated at the annual report press conference that stablecoins should not become speculative objects, and the digitization of the asset market is a long-term strategy. Stablecoins should play a stabilizing role and should not adopt a short-sighted perspective. He believes that Hong Kong's development pace is ahead of other financial centers. Hong Pik-cheng also revealed that stablecoins are one of the components of the digitization of Hong Kong's financial market, enabling the tokenization of currency intermediaries for transactions. He believes that the next step will involve the tokenization of different assets, but the development process requires time and will not involve full tokenization for the time being.