The Shanghai Government recently released the 'Action Plan for High-Quality Development of the Global Financial Technology Center,' emphasizing the deepening of research and application of digital currency. This plan states that Shanghai will actively cooperate with the People's Bank of China to support the establishment of functional entities for digital currency in the city, promoting the growth of relevant institutions in Shanghai’s digital currency research institute. Additionally, the city plans to continuously expand the use scope and scale of digital currency in key areas such as consumption, transportation, government affairs, and healthcare. Furthermore, Shanghai is committed to driving innovation in digital currency applications in financial markets, digitization of shipping and trade, cross-border payments, and other fields. The city aims to explore practical scenarios for the 'Value-based Digital Currency,' seeking to position Shanghai as a global leader in the Financial Internet (Finternet).