China’s NDRC Opens 52 Manufacturing Projects to Private Capital

This is a modest but symbolically important opening: Beijing is letting private firms into heavy manufacturing sectors long dominated by state players, though the private share of total investment remains a minority. The signal matters more than the sum for RWA and tokenization watchers, since industrial project cash flows in these categories are exactly the kind of real-world assets that could eventually be financed on-chain if private participation deepens. Whether this becomes a repeatable channel or a one-off gesture is the open question.