Odaily Planet Daily News - The National Financial and Development Laboratory's official account published an article titled "RMB Stablecoin Development Model Can Be "Internal and External Combination", which pointed out that it is possible to consider promoting the innovative exploration of relevant RMB stablecoins in the Shanghai Pilot Free Trade Zone and Hong Kong at the same time. One of the domestic offshore RMB stablecoin (CNY Coin, CNYC) models is that clearing organizations, large commercial banks, head payment institutions, well-known investment institutions, etc. can jointly initiate the establishment of a RMB stablecoin issuing institution in the Shanghai Free Trade Zone to explore the establishment of an on-chain issuance and operation mechanism for RMB stablecoins; the second model is to rely on the branches of some digital RMB operating institutions in the Shanghai Free Trade Zone to directly mint and operate RMB stablecoins on the chain.