In the Media

The Census and Statistics Department of Hong Kong released Hong Kong’s second-quarter GDP estimates, surpassing both market expectations and the revised first-quarter figures. Prof. Heiwai Tang, Associate Vice-President of HKU and Director of the Asia Global Institute, noted that, supported by sustained financial market growth, the local economy is expected to remain stable in the second half of the year. Although set to meet government forecasts, trade prospects remain uncertain.

Stablecoins are usually digital currencies issued by private companies, pegged 1:1 to a fiat currency or the asset value of collateral. Currently, 99% of global stablecoins are pegged to the US dollar and US dollar-denominated assets. USDT and USDC dominate the market, accounting for the majority of the more than $220 billion in global stablecoin circulation, and Circle has already completed its public listing in the US stock market.