New Policy Signal Boosts A-Share Blockchain & Crypto Stocks

The A-share market (mainland China stocks) witnessed a strong and focused wave of price increases during the afternoon trading session on July 11th, centered on the group of stocks related to digital currency and blockchain technology. This move came shortly after news emerged of a high-level meeting in Shanghai, demonstrating the market's sensitivity to policy signals from regulatory bodies.

According to data from Jinshi, a series of stocks in these two sectors were decisively "pulled up" during the afternoon session. Leading the rally were three companies: Hengbao Shares, Pulian Software, and Zhongke Jincai, all of which hit the 10% daily limit up. Following them were other leading gainers such as Sanwei Tiandi, GeDah ZY, and Newcapec.

The catalyst behind this wave of optimism is believed to stem from a recent study meeting held by the Shanghai State-owned Assets Supervision and Administration Commission (SASAC). This is a powerful state regulatory body. The topic of the meeting was the "development trends and response strategies for crypto and stablecoins."

For a market that is highly policy-driven like the A-shares, news that a powerful state body in a key financial hub like Shanghai is proactively studying and seeking a "response strategy"—rather than simply issuing prohibitions—is seen as an extremely positive signal. It has sparked expectations of a potentially more open and constructive government approach to blockchain technology and its applications in the future.

Investors may be betting on several potential scenarios:

Official Recognition: The study session indicates that blockchain technology and its applications are being seriously considered at a strategic level.
State-Backed Projects: There is a possibility of state-supported pilot projects or blockchain applications in the future, especially in sectors where Shanghai has a strong presence.
A Clearer Regulatory Framework: Instead of a blanket ban, this research could lead to the issuance of a specific legal framework, which would reduce uncertainty and pave the way for businesses to operate legally.

It is these expectations that have driven strong capital flows into these "concept stocks," turning a research meeting into the catalyst for an entire market segment in the recent trading session.