Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, responded to questions regarding stablecoins and the development of the digital yuan in Hong Kong. He stated that the number and usage of digital wallets opened with Hong Kong mobile phone numbers have shown steady growth, with approximately 80,000 digital wallets registered as of the end of January. The People's Bank of China and the Hong Kong Monetary Authority are exploring arrangements and feasibility for upgrading digital wallets to increase usage limits, expand application scenarios, and enhance user experience. Stablecoins and central bank digital currencies (such as the digital yuan), as well as other new payment tools, including tokenized deposits and cross-border connections to fast payment systems, have the potential to be applied to various scenarios such as transaction settlement and local or cross-border payments, provided they comply with relevant laws and regulatory requirements. (Press Release from the Hong Kong Special Administrative Region Government)