Is China in a hurry? The Service Trade Association will launch a senior training course on "Stablecoin and Innovative Development of Cross-Border E-Commerce" in August.

The China Service Trade Association (ATIS) announced that in August it will launch a "stablecoin innovative development" training program with cross-border e-commerce. Faced with the pressure of US stablecoins, China aims to reduce cross-border e-commerce payment costs through a pilot project in Hong Kong. (Background: JD.com and Ant Group lobbied the People’s Bank of China to issue offshore "Renminbi stablecoins" in Hong Kong, challenging the dominance of the US dollar.) (Additional background: The Chinese Ponzi Scheme "Xinkangjia DGCX" absconded with 52 billion USDT! On-chain tracking of cash flow, the arrogant mastermind mocked: fools deserve it.) "Is China going to introduce stablecoins in cross-border e-commerce?" As soon as the news broke, the market's nerves immediately tightened. The China Service Trade Association and the China Cross-Border E-commerce 50 Forum announced that they will hold a senior training course on "Stablecoins and Innovative Development in Cross-Border E-commerce" in August 2025. On the surface, it is a training session aimed at key e-commerce players, but it actually reveals the government's new layout regarding stablecoin strategy. Testing the waters, albeit slowly. In the past, China strictly prohibited cryptocurrency trading and mining, but this time, the China Service Trade Association is targeting foreign trade and e-commerce operators, with the curriculum covering stablecoin concepts, application scenarios, risk management, and compliance points. The official route is to maintain strict regulation domestically while exploring opportunities abroad. Within China, stablecoin licenses remain tightly controlled, while research is conducted through controlled channels to study the benefits of stablecoins in cross-border settlement, preparing for possible future implementation. Hong Kong as a springboard. The Hong Kong "Stablecoin Ordinance" will take effect on August 1, 2025, requiring issuers to obtain permission from the Hong Kong Monetary Authority and comply with reserve, segregated accounts, and anti-money laundering regulations. This system provides a "firewall" for mainland enterprises: they can test stablecoins in a compliant environment without directly touching China's red line. E-commerce giant JD.com is applying for permission in Hong Kong, aiming to reduce cross-border payment costs by 90% and shorten settlement times to 10 seconds, showing that companies have recognized the significant incentives of reducing transaction fees and enhancing cash flow speed. The considerations behind promoting stablecoins primarily revolve around the internationalization of the Renminbi. The US dollar stablecoin has already taken an early lead in international trade, and to expand the circulation of the Renminbi, tools that can compete with products like USDT are needed. Offshore Renminbi stablecoins are one of the options. The traditional SWIFT process is lengthy and costly, while blockchain can complete settlements in seconds. For cross-border e-commerce sellers, the speed of capital flow back and control over exchange losses are key factors affecting gross profit. News from the Chinese banking sector indicates that Chinese think tanks have called for the issuance of stablecoins, and economic reports reveal that leading Chinese tech companies are actively lobbying the government. Financial defenses remain cautious. The mainland's ban on crypto assets has not loosened, and there are frequent warnings about fraud risks. Hong Kong, on the other hand, plays the role of a regulatory sandbox. Hong Kong's licensing system has strict requirements for reserve disclosure, AML, and fund segregation, allowing companies to innovate in a manageable risk environment and accumulate practical experience for the mainland. Overall, China is not turning to this approach out of urgency but is using Hong Kong as a frontline to open controlled pilot programs with training courses, reduce cross-border payment costs, reinforce the internationalization of the Renminbi, and contain risks from the US's encroaching payment-based stablecoins within a "controllable range." Related Reports: Hong Kong Click Holdings establishes a $100 million "Bitcoin and SOL reserve" to explore crypto payroll and customer settlement. The new rich in Hong Kong and old money are accelerating towards stablecoins. JD.com and Ant Group lobby the People's Bank of China to issue offshore "Renminbi stablecoins" to challenge US dollar hegemony. The article "Is China in a hurry? The Service Trade Association launches a senior training course on 'Stablecoins and Innovative Development in Cross-Border E-Commerce' in August" was first published in BlockTempo, the most influential blockchain news media.