Zhao Changpeng gave a speech at the University of Hong Kong, summarizing that he believes the way forward for Hong Kong in stablecoins is the Hong Kong dollar stablecoin, preferably the renminbi stablecoin, implying that there is little chance for Hong Kong to issue a US dollar stablecoin; for RWA tokens, it is recommended to first focus on financial assets, such as bonds, stocks, and ETFs, and not to think about tokenizing Hong Kong real estate RWA, as the liquidity is too poor and no one is buying; he believes it is difficult for Hong Kong to establish its own virtual currency exchanges due to a lack of liquidity and suggests collaborating with Binance; he thinks that DEX will occupy a larger market share in the future and recommends that Hong Kong leave space for DEX development in compliance design. Finally, he believes that AI + Web3 will have a trillion-dollar market in the future, with everyone having numerous AI assistants, leading to a large number of high-frequency, small-value payment needs, which traditional banks cannot handle and will require on-chain payments.