China Clarifies Regulatory Oversight for
#RWA Issuance
According to reports, Chinese regulators have formally clarified the regulatory framework for cross-border issuance of RWA (Real-World Assets), ending long-standing regulatory ambiguity.
Under the new guidelines, debt-based RWA will fall under the supervision of the National Development and Reform Commission (
#NDRC ), while equity-based and asset-backed securities RWA will be regulated by the China Securities Regulatory Commission (
#CSRC ), following the principle of “same business, same risk, same regulation.”
The framework also notes that cross-border fundraising and capital repatriation related to overseas RWA issuance will remain subject to
#ForeignExchange controls, with other RWA structures supervised by relevant authorities based on their specific nature.