Shanghai SASAC Emphasizes Digital Currency Research and Blockchain Integration

Coin WorldThursday, Jul 10, 2025 12:28 pm ET
1min read

On July 10th, the Party Committee of the Shanghai State-owned Assets Supervision and Administration Commission (SASAC) convened a central group study session. The session focused on understanding the development trends of cryptocurrency and stablecoins, as well as the corresponding strategies to address these trends. He Qing, the Secretary and Director of the Party Committee of the Municipal State-owned Assets Supervision and Administration Commission, emphasized the importance of fully implementing the spirit of the Seventh Plenary Session of the Twelfth Municipal Party Committee. He stressed the need to adhere to innovation-driven development and maintain a keen awareness of emerging technologies.

He Qing highlighted the significance of strengthening research and exploration of digital currency. He also underscored the importance of promoting the integration of production and finance. This includes exploring the application of blockchain technology in various areas such as cross-border trade, supply chain finance, and asset digitization. By persevering in striving for progress, the session aimed to enhance the ability for strategic agility and initiative. This would further promote the deep integration of technology, finance, and industry.

The session also aimed to better leverage the important role of state-owned assets and enterprises in technological innovation, industrial control, and security support. The goal is to make new and greater contributions to the construction of Shanghai's "Five Centers." These centers include the global financial center, the global shipping center, the global trade center, the global economic center, and the global technological innovation center.

This study session reflects the growing interest and concern among Chinese authorities regarding the development and impact of cryptocurrencies and stablecoins. The session underscores the need for strategic planning and proactive measures to address the challenges and opportunities presented by these digital assets. By focusing on innovation and the integration of technology with finance and industry, the Shanghai SASAC aims to position itself at the forefront of digital currency development and application.

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