Li Ka-chao today delivered his third Policy Address during his tenure. The Hong Kong Monetary Authority announced that it will soon launch the "Digital Bond Funding Scheme" to encourage more Financial Institution Groups and issuers to adopt tokenization technology in capital markets transactions to promote the development of the digital securities market. In addition, the HKMA also allows potential issuers to test business plans and application scenarios through the stablecoin issuer sandbox, and jointly with the Finance and Treasury Bureau to submit a bill to regulate fiat currency stablecoin issuers this year. Actively test and explore more technical solutions and scenarios related to cross-border trade settlement on a variety of central bank digital currency cross-border networks, and expand the participation of public and private institutions.