Hong Kong has recently provided clear guidance on the positioning and development prospects of stablecoins. The Secretary for Financial Services and the Treasury, Christopher Hui, elaborated on the role of stablecoins in Hong Kong's financial system, emphasizing their nature as a payment tool. He pointed out that stablecoins are essentially another form of fiat currency and do not possess speculative attributes.

With the official implementation of the "Stablecoin Regulation," new development opportunities are arising in Hong Kong's fintech sector. Xu Zhengyu stated that compared to the payment costs of up to 3% in traditional banking systems, stablecoins are expected to reduce this ratio to around 1%. This advancement will not only help significantly lower cross-border payment costs but also greatly enhance overall payment efficiency, injecting new vitality into Hong Kong's status as an international financial center.

In addition to the stablecoin sector, the Hong Kong government is also actively promoting other financial innovations. Hugo Shong revealed that a meeting is being organized with multiple stakeholders to explore the possibility of establishing Hong Kong as an international gold trading center. This plan includes top-level design covering various aspects, from the construction of storage facilities to the improvement of trading mechanisms and the optimization of settlement systems. The government is making every effort to drive breakthrough progress in the precious metals trading sector, further consolidating its position as an international financial hub.

Hong Kong's move demonstrates its forward-thinking and pragmatic approach to financial innovation. By clearly defining the positioning of stablecoins, it not only provides a clear regulatory framework for the development of emerging financial technologies but also opens new avenues for reducing transaction costs and enhancing financial efficiency. At the same time, the active planning of a gold trading center also showcases Hong Kong's determination to expand its financial business scope and enhance its international competitiveness. These measures will undoubtedly inject new vitality into Hong Kong's financial ecosystem and promote its role on the global financial stage.