According to Caixin, along with the joint release by eight Chinese authorities including the People's Bank of China titled "Notice on Further Preventing and Disposing of Risks Related to Virtual Currencies and Other Assets" (referred to as "Document No. 42"), the regulatory framework for RWA (Real-World Asset) issuance abroad within China is beginning to take shape. The overall tone of Document No. 42 emphasizes strict prohibition of RWA domestically and strict regulation of RWA abroad. According to regulatory insiders familiar with the matter, Hong Kong is one of the offshore issuance locations for RWA. RWA based on assets from Hong Kong is not within the scope of regulation under Document No. 42 and is not managed by domestic regulatory authorities. Currently, there are no underlying assets based on domestic securities or funds in offshore RWA in Hong Kong or other locations. If there are, they fall under the responsibility of the China Securities Regulatory Commission's Institutional Department. Additionally, "it was previously completely prohibited." Now, "it is not said to be completely prohibited," but strict regulation of domestic asset outbound RWA is enforced. There is no intention of 'encouragement' here, and it should not be interpreted as 'promoting development.'