国泰海通｜计算机：稳定币发展迎来重大利好，政务数据与AI同样值得关注

Group 1 - The core viewpoint of the article highlights the significant growth potential in the stablecoin market following the implementation of the "Stablecoin Regulation" in Hong Kong, which is set to take effect on August 1 [2] - The stablecoin market has seen a substantial increase since 2020, with a projected market capitalization growth of nearly $200 billion from 2020 to 2025, reaching approximately $245 billion by the end of May 2025 [2] - The "Stablecoin Regulation" aims to create a robust regulatory environment for virtual asset activities in Hong Kong, reinforcing its status as an international financial center [2] Group 2 - The "Government Data Sharing Regulation" has been announced, which will take effect on August 1, 2025, and aims to enhance the efficiency and security of government data sharing [3] - This regulation establishes a clear management system and mechanisms for data sharing, addressing the issue of "data silos" and improving data supply efficiency [3] - The introduction of this regulation is expected to bring significant benefits to the government data market by promoting orderly and efficient data utilization [3] Group 3 - The upcoming release of GPT-5 is anticipated to surpass the performance of existing models like GPT-4, with a target launch in July 2025 [4] - OpenAI representatives have indicated that while the development costs are currently unclear, they aim to ensure the model's quality over rushing the release [4] - The introduction of GPT-5 is expected to further stimulate the development of the AI industry and the practical application of AI technologies [4]