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According to ChainCatcher, citing the Hong Kong Economic Times, Hong Kong Financial Services Development Council Chairman Laurence Li stated that stablecoins should not be used for speculation, but rather should serve a stabilizing function. On the eve of the Hong Kong Stablecoin Ordinance coming into effect on August 1, dozens of companies have already expressed interest in applying for or participating in stablecoin-related businesses. Li pointed out that the digitalization of asset markets is a long-term battle, and stablecoins are a key component in the digitalization of Hong Kong’s financial markets. He believes that Hong Kong is at the forefront of digital development among financial centers and expects that more diverse assets will be tokenized in the future, though this process will take time. He also emphasized that, given the current uncertainty in global trade, Hong Kong should position itself as a treasury center for the Global South, helping enterprises and investors diversify supply chain and investment risks, while maintaining its status as a center for capital markets, wealth management, and RMB risk management.

Odaily Planet Daily News: As the "Stablecoin Regulation" is set to take effect on August 1, Hong Kong Financial Development Council Chairman Laurence Li stated at the annual report press conference that stablecoins are an integral part of the digitalization of Hong Kong's financial market and should serve a "stabilizing" function rather than be manipulated by short-term speculation. He noted that dozens of companies have already expressed interest in applying for stablecoin business licenses. Although development will take time, Hong Kong is already among the global leaders. In addition, Li proposed that Hong Kong should position itself as a treasury center for the "Global South," leveraging stablecoin development to help diversify investment and supply chain risks.