China Sets Regulatory Framework for Overseas RWA Tokenization

China has introduced a comprehensive regulatory framework for the overseas issuance of Real-World Asset (RWA) tokenization. According to NS3.AI, the National Development and Reform Commission (NDRC) will oversee external debt-related RWAs, while the China Securities Regulatory Commission (CSRC) will manage equity and asset securitization RWAs. This framework aligns RWA regulations with traditional offshore financing practices and highlights the importance of foreign exchange controls by the State Administration of Foreign Exchange (SAFE).