National Committee member Yao Zhisheng: Hong Kong should prepare a white paper on financial development and ensure stablecoin bonds surpass London.

BlockBeats news, on August 7, according to Hong Kong media Ming Pao, National Committee member Yao Zhisheng stated that it is time for Hong Kong to prepare a white paper on financial development, to ensure that stablecoin bonds surpass London, and to clearly announce and publish specific arrangements in this year's policy address, with four main recommendations:

1. Establish two strategic objectives for financial development: first, to develop into an international financial center based on both RMB and USD, known as the 'dual-base' financial center; second, to become an international financial center on par with New York.

2. Focus on the development of RMB stablecoins and the expansion of RMB bond issuance to accelerate the internationalization of the RMB.

3. Formulate a 5-year plan for financial development and outline a 10-year vision blueprint to ensure the achievement of financial development goals.

4. The Chief Executive should personally lead the preparation and implementation of the white paper.