The president of the University of International Business and Economics suggests piloting a "Chinese stablecoin scheme" in free trade zones such as the Hainan Free Trade Port.

According to a report in *Caijing* magazine, Zhao Zhongxiu, president of the University of International Business and Economics, and others authored an article titled "Global Stablecoin Regulation Takes Shape; 'China Solution' Can Be Piloted in Free Trade Zones." The article points out the need to explore and establish a stablecoin regulatory framework and suggests piloting stablecoin applications in free trade zones, such as the Shenzhen Qianhai Free Trade Zone and the Hainan Free Trade Port, which are adjacent to Hong Kong. This includes: establishing a "Cross-border Financial Technology Laboratory," establishing a stablecoin "whitelist" system, establishing an offshore RMB stablecoin innovation pilot program, promoting digital trade and intellectual property financing, and strengthening blockchain infrastructure construction. Free trade zones can explore financial applications based on on-chain stablecoins (such as USDT, USDC, and RMB stablecoins), such as on-chain bills and credit certificate settlements. This could revitalize enterprises' intangible assets and solve the financing difficulties faced by asset-light technology companies.