On July 11, PANews reported that on July 10, the Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting focusing on the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Commission, pointed out that it is necessary to fully implement the spirit of the seventh meeting of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain keen awareness of emerging technologies, and strengthen research and exploration of digital currencies. We should adhere to the integration of production and data, and explore the application of blockchain technology in areas such as cross-border trade, supply chain finance, and asset digitization. We should remain proactive and energetic, enhance our strategic agility and initiative, further promote the deep integration of technology, finance, and industry, better leverage the important role of state-owned assets and enterprises in technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's 'five centers.'