Odaily Planet News: Caixin Network published an article titled "The Chinese Government Allows Domestic Assets to Issue RWA Abroad; RWA Regulatory Framework Announced," which states: The issuance of RWA (tokenization of real-world assets) by domestic assets overseas will no longer be a gray area. Regulators believe that debt-type RWA, equity-type RWA, and asset securitization-type RWA should be regulated in accordance with the principle of "same business, same risk, same rules," and be subject to the same legal and regulatory oversight as their corresponding traditional financing businesses. Therefore, debt-type RWA will fall under the supervision of the National Development and Reform Commission; equity-type RWA and asset securitization-type RWA will fall under the supervision of the China Securities Regulatory Commission. Like traditional overseas financing activities, overseas RWA also involves the repatriation of funds raised abroad, which will be supervised by the State Administration of Foreign Exchange. Other forms of RWA will be regulated by the China Securities Regulatory Commission in coordination with relevant departments according to their respective responsibilities.
In short, RWA of foreign debt type, RWA of equity type, RWA of asset securitization type, and other forms of RWA. The first three respectively correspond to traditional overseas financing businesses, where enterprise foreign debt is registered and examined by the National Development and Reform Commission, stock issuance is examined by "stock exchanges and registered by the China Securities Regulatory Commission", asset securitization is examined by stock exchanges, and other situations except these three are categorized as the fourth type.