Chairperson of the National Finance and Development Laboratory: Make full use of Hong Kong's advantages to develop offshore RMB stablecoins
2025-06-21 05:54:52
Li Yang, a member of the Chinese Academy of Social Sciences and chairperson of the National Finance and Development Laboratory, said that the US's promotion of stablecoin legislation aims to strengthen the status of the US dollar, promote the modernization of payments, and create new demand for US bonds. Stablecoins are essentially an extension of the US dollar on the chain. Facing the wave, China should firmly promote the internationalization of the RMB, and follow the trend of stablecoins and traditional financial integration, and promote the complementary development of RMB stablecoins and central bank digital currencies. Li Yang suggested making full use of Hong Kong's advantages to develop offshore RMB stablecoins and build a controlled Global Payment channel.
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