Shanghai SASAC holds a study session on cryptocurrency and stablecoins

Source: Shanghai State-owned Assets

On July 10, the Party Committee of Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting to study the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Municipal State-owned Assets Supervision and Administration Commission, presided over the meeting and delivered a speech. Wang Zhiping, head of the Fourth Supervisory Group of the Municipal Party Committee, attended the meeting for guidance. Members of the Party and Government Leadership Team of the Municipal State-owned Assets Supervision and Administration Commission attended the meeting.

The meeting invited Li Mingliang, chief of the policy group of Cathay Pacific Haitong Policy and Industry Research Institute, to give a special tutorial report, which talked about the development history and characteristics of cryptocurrencies and stablecoins, explained the development strategies and regulatory systems of stablecoins in various regions around the world, analyzed the opportunities and challenges faced by the development of stablecoins, and put forward suggestions on the development of digital currencies.

He Qing pointed out that it is necessary to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain a keen sense of emerging technologies, and strengthen the research and exploration of digital currencies. Adhere to the integration of production and numbers, explore the application of blockchain technology in cross-border trade, supply chain finance, asset digitization and other fields. We should persist in making efforts and improve our strategic agility and initiative, further promote the deep integration of science and technology, finance and industry, better play the important role of state-owned assets and state-owned enterprises in scientific and technological innovation, industrial control and security support, and make new and greater contributions to the construction of Shanghai's "five centers".

The second-level inspectors of the Municipal State-owned Assets Supervision and Administration Commission and the Commission's Discipline Inspection and Supervision Group, all party members of the Municipal State-owned Assets Supervision and Administration Commission, the Commission's Discipline Inspection and Supervision Group, and directly affiliated institutions, and relevant members of the Municipal Party Committee's Fourth Supervisory Group attended.