China's central bank governor, Pan Gongsheng, emphasized the importance of maintaining economic and financial stability during the 2025 Financial Street Forum Annual Meeting on October 27. Since 2017, the People's Bank of China has collaborated with relevant departments to issue multiple policy documents aimed at preventing and addressing the risks associated with domestic virtual currency trading speculation. These policy documents remain effective to this day. Moving forward, the People's Bank of China will continue to work with law enforcement agencies to combat the operation and speculation of virtual currencies within the country, while also closely monitoring and dynamically evaluating the development of foreign stablecoins. This approach is crucial for maintaining the stability of the financial system and preventing potential risks. As the global economic landscape continues to evolve, it is essential for China to remain vigilant and proactive in its efforts to maintain economic and financial stability.