According to Odaily Planet Daily, Song Ke, Executive Vice President of the Shenzhen Research Institute of Renmin University of China, stated that the Hong Kong Stablecoin Ordinance is the world's first comprehensive regulatory framework for fiat stablecoins and has an important demonstration effect. He pointed out that after the implementation of the regulations, relevant institutions can quickly transform early pilot experience into actual products, accelerating the development of Hong Kong's stablecoin ecosystem; at the same time, promoting the application of digital RMB and Hong Kong dollar stablecoins is expected to gradually reduce dependence on the US dollar clearing and settlement system. (Jinshi)