China’s 2026 No.1 guidelines define regulatory roles for NDRC, CSRC, and SAFE in overseeing offshore real-world asset issuance by domestic entities.
On Feb. 7, Caixin reported that China’s 2026 No.1 guidelines specify regulation of offshore real-world asset (RWA) issuances by domestic entities. Debt-type RWA will be supervised by the National Development and Reform Commission (NDRC), while equity and asset securitization RWA fall under the China Securities Regulatory Commission (CSRC). Foreign exchange-related RWA will be managed by the State Administration of Foreign Exchange (SAFE). The framework divides oversight according to asset category, ensuring coordinated supervision across debt, equity, and FX-linked tokenized offerings.