Wu Shuo learned from a report by *The Shin Min Daily* that on April 15, Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin said at the HSBC Investment Summit that Hong Kong is currently trialing three paths at the same time: a central bank digital currency (CBDC), tokenized deposits, and stablecoins. The final form of future money is not yet known. The aim is to ensure that all three tracks are explored, but it is believed that ultimately people’s trust will still be built on sovereign central bank money. On this basis, tokenized deposits could be developed as a form of commercial bank money, while stablecoins backed by fiat currency would be more conducive to adoption by the younger generation, but underlying trust still needs to rely on sovereign money.