China’s SASAC to Form New Central SOEs in 15th Five-Year Plan

The signal here is organisational rather than market-specific: Beijing is signalling that state capital will keep being consolidated into fewer, larger central SOEs, with strategic emerging industries explicitly named as a target. For crypto and RWA markets, the relevant question is whether blockchain infrastructure becomes part of that state-led industrial push or stays outside it. Watch whether subsequent SASAC guidance names digital asset or tokenisation infrastructure among the strategic emerging sectors, and whether horizontal and vertical integration reaches firms already active in those areas.