Li Yang, member of the Chinese Academy of Social Sciences and director of the National Financial and Development Laboratory, stated that the United States is pushing for stable coin legislation to strengthen the status of the US dollar, promote modernization of payments, and create new demand for US debt. Stable coins are essentially an extension of the US dollar on the chain. Faced with this trend, China should firmly promote the internationalization of the renminbi, and follow the trend of integration between stable coins and traditional finance, promoting the complementary development of the renminbi stable coin and the central bank's digital currency. Li Yang suggested fully utilizing the advantages of Hong Kong to develop offshore renminbi stable coins and establish a controllable international payment channel.