Document No. 42 emphasizes strict management of overseas RWA, and CICC Hong Kong has already contacted public chains and exchanges

During the weekend following the release of the "Notice on Further Preventing and Dealing with Risks Related to Virtual Assets" (Document No. 42), the relevant team from CICC Hong Kong has engaged with several public chains and exchanges to explore potential business cooperation.

Additionally, a public chain leader expressed a desire to explore relevant cooperation opportunities with investment banks and other intermediary institutions. Institutions such as Ant Group and JD.com have also shown concern regarding policy changes. Reports indicate that Hong Kong is one of the overseas issuance locations for RWA. Regulatory insiders familiar with the situation stated that RWAs based on assets from Hong Kong are not within the regulatory scope of Document No. 42; if domestic securities or funds are involved as underlying assets and RWA issuance occurs overseas, it will be overseen by the relevant departments of the China Securities Regulatory Commission. The related statements emphasize that strict regulation will be implemented for RWAs involving domestic assets going abroad and should not be interpreted as a signal to encourage or relax regulatory measures.