Core Insights - The discussion around Real World Assets (RWA) has become a central topic in the digital finance and blockchain industry, aiming to address liquidity and financing efficiency issues in the real economy [1] - The Chinese market has significant potential for RWA, particularly in non-financial assets, which face challenges such as unclear rights, difficult valuation, low liquidity, and high transaction costs [1] Group 1: Real Estate - China's real estate market is large, but traditional transaction and financing channels are rigid, leading to many quality assets being illiquid [2] - REITs reforms have shown potential for improving liquidity through structured tools, but blockchain technology can further enhance this by tokenizing real estate assets, lowering investment thresholds, and increasing transaction efficiency [2] Group 2: Commodities and Energy - As a major manufacturing and energy consumption country, China has a persistent demand for the financialization of commodities and energy assets [2] - Digitizing these assets through RWA can improve their circulation efficiency and support green transformation goals [2] Group 3: Data and Computing Power - Data and computing power are emerging as new production factors in the digital economy, with complex rights and circulation issues [2] - RWA can facilitate the tokenization of data assets, allowing for their rights to be clearly defined and traded, while computing power can be transformed into distributed resources for various users [2] Group 4: Art and Intangible Assets - The art market in China is large but suffers from transparency and valuation issues, making it difficult for investors to enter [3] - Tokenization can split ownership and usage rights of art, improving liquidity and expanding the market depth for art finance [3] - Intangible assets like intellectual property also face rights and circulation challenges, which RWA can address by providing transparent registration and trading mechanisms [3] Group 5: Market Innovation and Challenges - The innovation value of RWA in China lies in improving the liquidity of non-financial assets, allowing companies to convert various assets into digital rights for financing and trading [4] - Tokenization can lower investment barriers and promote inclusive finance, enabling more ordinary investors to participate [4] - RWA can enhance market transparency and transaction efficiency, reducing fraud risks and providing new investor protection methods [4] Group 6: Future Development and Recommendations - The development of non-financial assets on-chain faces challenges, particularly in rights clarification and valuation transparency [5] - To achieve healthy development in the RWA market, three breakthroughs are necessary: updating regulatory frameworks, accelerating standardization, and deepening scenario-based exploration [6] - RWA should align with national strategies for technological innovation, green transformation, and inclusive finance to address structural economic issues in China [6]