According to Reuters, China is considering allowing the use of a renminbi stablecoin for the first time. The State Council is expected to review and possibly approve the relevant roadmap this month, clarifying regulatory responsibilities, setting global usage targets, and promoting local implementation first in Hong Kong and Shanghai. The renminbi stablecoin will be used for cross-border trade and payments, with related details likely to be further discussed during the Shanghai Cooperation Organization summit in Tianjin at the end of the month.