Aug 21, 2025
Mainland China stocks advanced on Thursday, with the Shanghai benchmark closing at a decade high, driven by substantial gains in fintech and stablecoin-concept shares after a Reuters report signaled a potential shift in Beijing’s stance on digital assets. The Shanghai Composite index closed up 0.13% at 3,771.10 points, its highest close since August 2015, while the blue-chip CSI300 index gained 0.39%.
Fintech and stablecoin-concept shares were among the biggest winners following the report that China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally. This potential move represents a notable change in the country’s approach to digital assets after it banned cryptocurrency trading and mining in 2021. The CSI Fintech Theme index advanced 0.78%, according to data from the IndexBox platform. Brilliance…
