It’s interesting to observe how Hong Kong positions itself in the development of RWA. I recently heard a speech by the head of InvestHK’s finance division, where he quite clearly outlined what he sees as the city’s advantages over материковый Китай.

The core point is that after the first RWA policies were rolled out on the материковый Китай, Hong Kong didn’t simply copy the approach. Instead, the city chose a strategy that takes local risks into account, while at the same time actively leveraging its status as an international financial center. This creates a balance between local accountability and global openness.

What specifically sets Hong Kong apart? First, they take compliance and the verification of sources of capital very seriously. This isn’t just nice-sounding talk—the free port status allows money to circulate freely, so control here is especially important. Second—and this is the key point—in Hong Kong, hedging tools are available that mainland projects currently do not have. This gives a certain competitive edge.

In essence, Hong Kong positions itself as a kind of experimental testbed for projects that meet the requirements. Mainland companies get the opportunity to use the city as a springboard for financing and further expansion into global markets. It’s interesting to see how this will develop further—Hong Kong seems to be seriously aiming to become the main hub for RWA in the region.