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Odaily Planet Daily News: Hong Kong Financial Secretary Paul Chan published his essay "Accelerating Progress and Setting Sail Stable", in which he pointed out that the development of digital assets has driven the related businesses of financial institutions. Last year, the total transaction volume of digital assets and related products in local banks in Hong Kong reached HKD 17.2 billion, and the total amount of digital assets under bank custody at the end of last year reached HKD 5.1 billion. The previously proposed "Stablecoins Ordinance" has been passed by the Legislative Council, and Hong Kong is cautiously promoting the development of stablecoins, providing a new paradigm for the global stablecoin market. This is also reflected in the firewall and experimental field functions under the "One Country, Two Systems" policy, providing experience and reference for the country's financial development. For example, Hong Kong has adopted a more open model, allowing licensed issuers to choose different fiat currencies as anchor fiat currencies for issuing stablecoins, which is conducive to attracting more institutions from different parts of the world to issue stablecoins in Hong Kong according to actual application scenarios, greatly improving the liquidity of related activities and the competitiveness of the Hong Kong market.