On April 30, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Cheng-yu, said in his speech on the resumption of the second reading debate on the Appropriation Bill 2025 at the Legislative Council meeting on April 30 that according to the latest "Global Financial Centres Index" report, Hong Kong's ranking in the level of financial technology has further jumped five places to fourth in the world. We will take a multi-pronged approach to promote the vigorous development of financial technology and enhance the competitiveness of Hong Kong's financial services industry to better support the real economy. On virtual assets, we will soon release the second virtual asset policy declaration to set out the policy vision and direction for the next step. At the same time, we will consult on the licensing system for virtual assets over the counter and custody services as soon as possible within the year. " The Stablecoin Bill is scheduled to resume the Second Reading debate at the Legislative Council meeting on May 21. After the passage of the relevant Bill, the HKMA will approve the license application as soon as possible. The above measures will continue to improve our framework that places equal emphasis on supervision and market development, and further promote the vigorous development of Hong Kong's virtual asset ecosystem.