Wuxi explores stablecoin empowerment for foreign trade development to promote digital trade innovation.

On July 7, Du Xiaogang, Secretary of the Wuxi Municipal Committee, presided over a special promotion meeting for key reform tasks in the city. Among the points mentioned, there is a need to promote the innovative development of business models. Policies and measures for stabilizing foreign trade should be formulated in a categorized manner, refining the successful experiences of "going global" enterprises in advantageous sub-sectors such as biomedicine. The practice path of enabling foreign trade development through stablecoins should be explored, continuously expanding the growth space for digital trade, green trade, and service trade, and improving the development level of cross-border e-commerce, intermediate goods trade, and offshore trade.