内地企业赴港RWA“急冻”，咨询量大跌超九成

Core Viewpoint - The recent regulatory ban on virtual currencies and Real World Asset (RWA) tokens has led to a significant cooling of the RWA market in China, with a drastic drop in business inquiries and a decline in stock prices of related companies [2][10]. Regulatory Actions - Seven major financial associations in China have jointly issued a risk warning prohibiting their members from participating in the issuance and trading of virtual currencies and RWA tokens within the country [3][4]. - This is the first time RWA has been explicitly mentioned and classified by official entities, signaling a strong regulatory stance against virtual currency-related illegal activities [4][5]. Market Impact - The number of business inquiries from mainland companies regarding RWA projects in Hong Kong has plummeted by over 90% in the past two months, with many ongoing projects being put on hold [2][12]. - Companies involved in RWA concepts, such as Longxin Group and Xiexin Energy Technology, have seen their stock prices drop significantly, with some experiencing a decline of nearly 50% from their peak [2][14]. Industry Response - Many companies that were previously exploring RWA projects are now shifting their focus to Real Data Assets (RDA), a new digital asset form proposed by the Shanghai Data Exchange [13]. - The overall sentiment in the market has shifted from optimism to caution, with companies now responding to inquiries about RWA with standardized statements indicating they are not currently engaged in such activities [14]. Risk Considerations - The regulatory warning highlights multiple risks associated with RWA tokenization, including false asset risks, operational failure risks, and speculative trading risks, with no RWA tokenization activities currently approved by Chinese financial authorities [5][9]. - The rise in fraudulent activities under the guise of RWA projects has prompted regulators to act swiftly, as there have been numerous reports of scams targeting the public [9].