Caixin: RWA based on assets in Hong Kong, China are not under the jurisdiction of Chinese domestic regulators

GateUser-6433627c · 2026-02-21T12:59:23+00:00

Caixin reports that on February 6, eight departments including the People's Bank of China issued Document No. 42, emphasizing strict regulation of overseas RWA. Overseas assets, especially RWA based on Hong Kong assets, are not subject to this document. Regulatory officials stated that RWA outbound from domestic assets will be strictly controlled and that policies are not being relaxed. Meanwhile, China International Capital Corporation Hong Kong is already exploring cooperation with public blockchains and exchanges.

GateUser-6433627c

2026-02-21 12:59:23

Abstract generation in progress

On February 21, Caixin published an article titled “Strict Regulation of Offshore RWA,” which pointed out that the notice issued by the People’s Bank of China and eight other departments on February 6 regarding further prevention and disposal of risks related to virtual currencies (hereinafter referred to as Document No. 42) has the overall tone of “strict offshore regulation.” According to sources familiar with Chinese regulatory authorities, RWA based on assets in Hong Kong, China, are not within the scope of regulation under Document No. 42 and are not under the responsibility of domestic Chinese regulatory agencies. If domestic securities or funds serve as underlying assets and are issued as RWA offshore, then relevant departments of the China Securities Regulatory Commission are responsible. The relevant statements emphasize that strict regulation will be implemented for outbound RWA of domestic assets and should not be interpreted as a signal to encourage or relax regulation. Additionally, Caixin learned that during the weekend following the release of Document No. 42, a team from CICC Hong Kong had already been engaging with major public blockchains and exchanges to explore business cooperation opportunities. Some blockchain project leaders also expressed hope to collaborate with related investment banks and intermediary institutions to explore business opportunities. Ant Group and JD.com have also shown high concern regarding policy changes.

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