How can Hong Kong become the "preferred gateway" for RWA to go global?

1. Policy Dongfeng: Mainland China clarifies regulatory framework

At the beginning of 2026, the regulatory authorities in mainland China issued the latest guidelines on domestic entities conducting RWA business overseas, clarifying asset types, cross-border processes, compliance requirements, and regulatory entities. This measure provides a clear path for mainland physical assets to flow overseas.

The Financial Secretary of Hong Kong mentioned in a recent public speech that "with the clarification of the regulatory framework in mainland China, Hong Kong's positioning as an international financial center will become clearer." The "loosening" of mainland regulation and the "improvement" of Hong Kong policies have formed a policy synergy effect.

The scale of assets in mainland China is huge, with infrastructure assets alone exceeding RMB 10 trillion. The realization of some assets going overseas through RWA will bring unprecedented opportunities to Hong Kong. The arrival of policy winds has laid the foundation for Hong Kong to become a global hub for RWA markets.

2. Institutional Infrastructure: RWA Ecosystem in Hong Kong

Hong Kong has established a relatively mature ecosystem in the RWA field. The new bank capital regulations, which will take effect on January 1, 2026, clearly stipulate the capital requirements for RWA tokens held by banks, providing financial institutions with a legal basis to follow.

The Hong Kong Monetary Authority has received 36 applications for stablecoin licenses, covering a diverse range of entities from traditional banks to fintech companies, demonstrating the market's high recognition of Hong Kong's RWA infrastructure.

At the same time, the Hong Kong government is actively exploring the tokenization of real assets such as international shipping rent that generate stable cash flow. These efforts indicate that Hong Kong is building a full chain RWA service system from asset discovery, compliance auditing, legal consulting to technical support.

3. Bridgehead Effect: Why Hong Kong

Hong Kong's unique "One Country, Two Systems" institutional arrangement gives it an irreplaceable advantage in connecting mainland China with global financial markets. It is not by chance that Hong Kong serves as the "preferred gateway" for mainland Chinese assets to go abroad.

Firstly, Hong Kong has a well-established common law system that is highly compatible with the legal systems of major global financial markets; Secondly, Hong Kong has an international advantage in financial infrastructure, with free flow of funds and abundant financial products providing the soil for its RWA development.

Hong Kong is backed by the vast real economy of mainland China and has the ability to connect with global capital markets. This "dual internal and external" characteristic makes it an ideal springboard for Chinese assets to go global.