The Hong Kong Federation of Trade Unions released the "Research Report on Building a Global Stablecoin Issuance Center," proposing six strategic recommendations.

According to Techub News, according to a report by Hong Kong Wenhui.com, the Hong Kong Economic and People's Livelihood Alliance (CEDP) released the "Research Report on Building a Global Stablecoin Issuance Center", suggesting that the Hong Kong Special Administrative Region should make good use of the advantages of "one country, two systems" and put forward six strategic suggestions, including: building Hong Kong into a global stablecoin issuance center and strengthening Hong Kong's "digital financial hub" as an important part of consolidating and enhancing Hong Kong's status as an international financial center; Improve supervision to prevent risks, enhance the efficiency of the approval process, and issue licenses to companies that have already entered the regulatory sandbox as soon as possible after the implementation of the stablecoin ordinance comes into effect, so as to enhance the competitiveness of Hong Kong's stablecoin business and strive for the participation of more major international banks; Seek the support of the Central Government, give full play to Hong Kong's stablecoin pilot platform, develop offshore renminbi stablecoins in Hong Kong, consolidate and enhance Hong Kong's status as a Web 3 international financial centre, and strengthen the coordination and cooperation between the monetary policies of Hong Kong and the Mainland, and jointly improve the regulatory mechanism for stablecoins and cryptocurrencies; Seek the support of the Central Government to expand the size of Hong Kong's renminbi cash pool by five times from the current level to about RMB5 trillion, so as to facilitate the expansion of offshore renminbi business in Hong Kong and meet the development needs of renminbi stablecoin; nurturing and attracting talents, and encouraging tertiary institutions to strengthen their fintech programmes; It is proposed to set up a high-level financial development committee, with the goal of "surpassing London and chasing New York", to study and publish a white paper on financial development, and set out a roadmap and timetable for reform. In addition, Hong Kong should co-ordinate and communicate with the Mainland's financial authorities to further deepen financial connectivity between the two places.