Chen Maobo, the Financial Secretary of the Hong Kong SAR Government, has underscored the vast potential of financial technology in enhancing cross-border trade by boosting payment efficiency and minimizing costs. Last week's release of the "Policy Declaration 2.0 on the Development of Digital Assets" highlighted the importance of fostering application scenarios and cross-border collaborations. Stablecoins, recognized as a cost-effective option outside the traditional financial system, are anticipated to usher in innovative changes in payment systems and capital market activities. With relevant legislation set to take effect on August 1, the government aims to actively cultivate a conducive market environment, facilitating the adoption of stablecoins across various scenarios. This initiative is expected to address practical challenges faced by businesses and individuals in their daily operations and lives.