Caixin: Chinese Government Allows Onshore Assets to Issue Offshore RWA, Regulatory Framework Announced

**February 7 – Per Caixin, China’s State Council Securities Regulatory Commission (CSRC) issued Announcement No. 1 of 2026, titled *Regulatory Guidance on Domestic Assets’ Overseas Issuance of Asset-Backed Securities Tokens (RWA)*, outlining supervision rules for such offerings:** - Foreign debt-linked RWA falls under the National Development and Reform Commission (NDRC)’s oversight. - Equity-backed RWA and asset securitization (ABS) RWA are regulated by the CSRC. - Repatriating funds from overseas RWA to the domestic market is overseen by the State Administration of Foreign Exchange (SAFE). - Other RWA types are supervised by the CSRC and relevant departments per their respective mandates. **Analysts note that token issuance financing via licensed exchanges in Hong Kong aligns more closely with China’s strategic goals. Currently, Hong Kong Exchanges and Clearing Limited (HKEX) holds a monopoly on Hong Kong’s stock market—and should also allow licensed cryptocurrency exchanges to trade equity-backed tokens.**