China FX Regulator Zhu Hexin Meets Hong Kong SFC Chief

A SAFE-SFC meeting framed around Hong Kong's international financial centre status and cross-border regulatory cooperation reads as continuity rather than a policy shift, but the pairing of mainland FX management with Hong Kong's securities regulator is the detail worth noting. It suggests the cross-border channel that matters most for digital-asset and tokenised products runs through Hong Kong's securities regime rather than through FX approvals alone, which shapes how RWA issuers structure offshore vehicles. Whether such meetings produce concrete regulatory alignment or remain consultative is the open question.