币界网报道：[Economic Observer: CNH stablecoin may be promoted in three stages with reference to the experience of RMB business pilot] According to the report of Bijie.com, the Economic Observer published an article "How to break the deadlock in the Hong Kong trial of offshore RMB stablecoin", which pointed out that the Hong Kong Stablecoin Ordinance is planned to be implemented in August, which may indicate that the trial of offshore RMB (CNH) stablecoin is approaching. Referring to the experience of RMB business pilot in 2003, the implementation of CNH stablecoin can be promoted in three stages: First, sandbox trial (2025-2026): Chinese licensed institutions will pilot the issuance of CNH stablecoin for trade scenarios in the Greater Bay Area; Second, regional expansion (2026-2027): access to cross-border projects such as mBridge (Multilateral Central Bank Digital Currency Bridge), and pilot RWA (Real World Asset) applications such as bond tokenization; Third, global promotion (from 2028): jointly with international organizations such as the IMF (International Monetary Fund) to formulate technical and regulatory standards to promote CNH stablecoin to become a regional commodity pricing tool.