Industry Insiders: Multiple Hong Kong-Based Chinese Financial Institutions Instructed by Headquarters to Explore RWA Projects

According to ChainCatcher, Tencent News published an article titled "The Stablecoin Boom Drives Hong Kong's Chinese Institutions into RWA, Industry Insiders Call for Caution," which points out that Hong Kong's financial sector is beginning to stratify: foreign institutions are focusing on quantitative research, hedging, and IPOs, while Chinese institutions are turning their attention to RWA. Many Chinese financial institutions in Hong Kong are actively exploring RWA. A senior executive at a leading Hong Kong-based fund company revealed that, in recent times, many institutions have received directives from their mainland headquarters to explore commercial opportunities in RWA projects. As with most financial products launched in Hong Kong, these Chinese financial institutions require significant legal support to explore RWA projects, resulting in increased business for certain law firms in Hong Kong's crypto sector, including King & Wood Mallesons and JunHe LLP.

In addition, a state-owned asset management executive stationed in Hong Kong commented, "This current wave is actually top-down; headquarters want the Hong Kong offices to try RWA in preparation for the ecosystem that will develop after stablecoins are issued."