On June 26, the Hong Kong Special Administrative Region Government released the "Hong Kong Digital Asset Development Policy Declaration 2.0," reaffirming its commitment to making Hong Kong a global innovation center in the digital asset field. The declaration proposed four major strategic frameworks under the acronym "LEAP": optimizing laws and regulations, expanding the variety of tokenized products, advancing application scenarios, and promoting cross-sector collaboration.
As an international fintech hub, Hong Kong is becoming a key source for the large-scale compliant implementation of Real World Assets (RWA).
Just a day before the declaration was released (June 25), the world's first international summit focused on "Digitalization of Real World Assets (RWA)"—the WCS·2025 RWA Industry Conference and the first anniversary celebration of the RWA Research Institute—was grandly held at the Citibank Auditorium of the Hong Kong University of Science and Technology, one of Asia's top universities and the world's most beautiful campus. The conference featured a top-tier lineup of guests, including heavyweight figures from leading international companies, renowned universities, research institutions, the investment community, and the forefront of legal compliance, gathering to discuss breakthrough developments and future paths in the RWA (Real World Assets) field.
The conference was highly attended, with the venue fully packed throughout the day, and over a thousand people participated offline. It not only established a high-end platform for global communication and cooperation but also, through intensive idea exchanges and substantial agreements, outlined a clear roadmap for RWA technological innovation, compliant development, and deep industry integration, effectively promoting the construction of a value bridge between Web3 and the traditional economy, and opening a new chapter in global asset digitization.
The WCS·2025 RWA Industry Conference and the first anniversary celebration of the RWA Research Institute were organized by the RWA Research Institute, the Fire Observation, and the Metaverse and Artificial Intelligence Thirty-Person Forum, co-hosted by the Digital Finance Laboratory of the Hong Kong University of Science and Technology, the Applied Economic, Social and Environmental Research Center of the Hong Kong University of Science and Technology, the China International Economic and Technological Cooperation Promotion Association, the Global Cross-Border E-Commerce Association, the Dacheng Web3 Research Center, the Sanpin Urban Development, the Japan International Business School, the Zero One Think Tank, Web3 TOP, News3, Huoxun Finance, and the Persistent Entrepreneurs Club, with support from the China Industry Overseas Development Association, GBA Capital, Hainan Huatie, Xihai Industry, Guoying Holdings, and Guoying Chuangyuan, and strategic cooperation units including Shulian Zongheng, PicWe, Block Valley, and DN.com.
Opening Ceremony: Wisdom at the Forefront
In his opening speech, Huo Zhenyu, Director of the Huo Yingdong Group, member of the Guangzhou Municipal Political Consultative Conference, and Honorary Chairman of the RWA Research Institute, emphasized Hong Kong's important mission in promoting RWA compliance. He pointed out the need to leverage the opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area to promote technological innovation and inject credible, efficient, and transparent digital momentum into the real economy.
Dr. Lin Jiali, former Chairman of the Board of Directors of Hong Kong Cyberport, recipient of the Bronze Bauhinia Star, and Justice of the Peace, subsequently noted that Hong Kong possesses top-notch professional services, over 180 years of bilingual common law system, and free port policies, along with a comprehensive talent policy, stable coin regulation, sandbox mechanisms, and capital market support. Hong Kong will upgrade from a global asset management center to a digital asset management hub, promoting the industry with a pragmatic and efficient attitude.
Wang Yang, Vice President of the Hong Kong University of Science and Technology, clearly stated in a video speech that Hong Kong is at a turning point in Web3 development, with the digital currency declaration, RWA sandbox, and stablecoin policies demonstrating significant determination. As a bastion for China in the Web3 field, Hong Kong is bound to play a leading role.
Feast of Ideas: Insights and Practices
The keynote speech segment was filled with excitement. Wang Shanliang, Vice Chairman of Dacheng China, Director of the Dacheng Web3 Research Center, and Dean of the RWA Research Institute's Legal Compliance Institute, stated in his keynote speech titled "Legal Compliance as an Accelerator for Healthy Development of the RWA Ecosystem" that compliance is the foundation, and technology is the wing. RWA allows assets to transcend borders and values to have no boundaries. The compliance framework for RWA consists of domestic legal token recognition, international regulatory collaboration, legality of stablecoin issuance and trading, on-chain asset transparency, off-chain asset rights confirmation, and a multidimensional combination of AML+CRF+KYC. Compliance also establishes trust, attracts more participants, reduces risks, accelerates project implementation, optimizes processes, accelerates innovation, and promotes global collaborative development.
Zhao Yongchao, Director of the Data Asset Department and Vice President of the Shanghai Data Exchange, pointed out in his keynote speech titled "Real Data Assets (RDA): Real Data, Golden Assets" that China's data marketization and valuation are in an accelerated phase, and real data assets (RDA) will become a bridge to stimulate the value of data elements and connect with global capital. He noted that foreign RWA is characterized by the tokenization of financial assets, while domestic RWA mainly anchors real assets, but on-chain, warrantization, and valuation are common core features of real-world assets.
Li Qi, a professor in the Department of Applied Economics at Peking University's Guanghua School of Management, who has served as Vice Dean of the Guanghua School of Management, Director of the EMBA Project Center, and Dean of the Shanghai and Shenzhen branches, emphasized in his keynote speech titled "Global Changes and China's Development" that China's development leads global changes, and its unparalleled growth space creates a strong foundation for RWA physical assets.
Long Dian, founder of the RWA Research Institute, founder of Huoxun Finance, and initiator of Web3TOP, released a new book titled "On-Chain of Real World Assets: RWA Industry Roadmap," stating that RWA is an inevitable trend in Web3 development, marking the transition of blockchain technology from the "first half" of purely virtual assets to the "second half" of integration with the real economy. With the gradual improvement of technological infrastructure, legal regulations, and market scale, RWA has now entered an explosive period, and in the future, RWA will build a digital economic system that enables frictionless exchange of global assets and is more fair and transparent.
In the roundtable forum titled "Opportunities and Practical Paths for RWA Integration in the Real Economy," Xu Yuanzhong, initiator of the Metaverse and Artificial Intelligence Thirty-Person Forum and Dean of the RWA Research Institute's Metaverse Institute, stated that RWA has three major advantages: "timing - a period of civilizational evolution; location - Hong Kong as a cultural crossroads; and people - the vigor of young people."
Hainan Huatie General Manager Hu Danfeng stated, "The integration of RWA with the real world must start from the most easily achievable assets. These assets should be 'online and on-chain,' 'online and on-chain.' 'Online and on-chain' refers to the online and on-chain of asset information data, while 'online and on-chain' means that the process of asset value generation must be completed online and on-chain. If assets achieve hardware-level on-chain and on-chain, it can fundamentally ensure the credible traceability and secure storage of data, which is the best on-chain model. In actual operations, completing online and on-chain and online and on-chain (especially hardware-level on-chain) requires a long time of accumulation. Hainan Huatie has been promoting asset online and on-chain since 2021, accumulating nearly 26 billion yuan of online hardware-level on-chain assets, providing a solid foundation for RWA."
Gao Lili, a master's degree in finance from Peking University, a Chartered Financial Analyst, founder of the Persistent Entrepreneurs Club, and Chairman of Hard Core Nut Capital, believes that the consumer goods industry, especially the liquor industry, is a highly potential track for RWA (Real World Assets). Because liquor, as a heavy asset, naturally fits, and its appreciation over time (vintage liquor) is limited in circulation in physical wine cellars. If it is digitized on-chain based on vintage and category, it can achieve global unobstructed circulation and maximize value.
Peng Cheng, founder of Wansheng Huatai Technology Co., Ltd. and EcoPlants, stated that digital assets are reshaping cultural consensus, bridging virtual and real value interactions, and creating incremental value, forming a closed-loop ecosystem of "real assets - digital assets - value cycle," especially in the cultural and tourism fields, which has the potential to drive consumption and employment.
Ray, founder of Qufu Consulting, pointed out that specific assets guaranteed by Chinese listed companies or state-owned enterprises, such as real estate, computing power, and artworks, can gradually form a closed-loop ecosystem of "stablecoin + RWA" by establishing a segmented RWA (Real World Assets) issuance and trading platform in Hong Kong, which is a feasible direction at present.
Milestone Moment: Ecological Co-Building
The conference held a series of significant signing and release ceremonies. First, Ms. Wang Xin, Executive Chairman of the Global Cross-Border E-Commerce Association, global digital trade strategist, industry ecological architect, initiator of the K100 project, and Director of the K100 Executive Committee, delivered a speech. She stated that the ultimate proposition of cross-border e-commerce is not "selling goods," but "how to make the world believe in you." Through RWA, stablecoins, and blockchain technology, the cross-border trade trust system can be reconstructed, breaking the monopoly of centralized platforms with a transparent and efficient on-chain clearing mechanism, empowering small and medium-sized businesses to master data sovereignty, and promoting the evolution of global digital trade towards a fair and inclusive community ecosystem.
The conference also held the launch ceremony for the RWA Research Institute's Listed Company Committee (preparatory). Long Dian stated that this ceremony is an important move for the RWA Research Institute in the compliance layout of listed companies for RWA. Currently, the preparatory committee for listed companies has attracted a number of important listed companies, and dozens of guests and audience members from listed companies also attended the conference. The RWA Research Institute will subsequently hold a special ceremony to officially launch the Listed Company Committee.
Under the national strategic guidance of "accelerating the development of new productive forces" and "promoting the deep integration of the digital economy and the real economy," the globally leading equipment operation service platform—Zhejiang Haikong Nanke Huatie Digital Technology Co., Ltd. (referred to as "Hainan Huatie")—held a strategic cooperation signing ceremony with the RWA Research Institute. The two parties will focus on three core directions: asset on-chain value reassessment, industry standard formulation, and global circulation practices, jointly promoting RWA (Real World Assets) technological innovation and industry integration, leading the digital transformation of the real economy.
The RWA Research Institute held a strategic cooperation signing ceremony with the Japan International Business School.
The RWA Research Institute held a strategic cooperation signing ceremony with Sichuan Shulian Zongheng.
Ms. Mi Si, an intangible cultural heritage paper-cutting inheritor, presented the RWA Research Institute's Honorary Chairman, Mr. Huo Zhenyu, with a themed work titled "Cutting the Future · Art Initiates RWA."
The RWA Research Institute also held a grand awarding ceremony at this conference, where Mr. Huo Zhenyu, Honorary Chairman of the RWA Research Institute, awarded titles to the following guests:
- Li Jingnan was appointed as the Initiator and Dean of the Brand IP Institute of the RWA Research Institute.
- Zhu Yidan was appointed as the Dean of the Brand IP Institute of the RWA Research Institute.
- Zhao Yidan was appointed as the Vice Dean of the Brand IP Institute of the RWA Research Institute.
- Shi Xingguo was appointed as the Director of the Technical Security Committee of the RWA Research Institute.
- Zheng Wenbin (MJ) was appointed as the Director of the Technical Security Committee of the RWA Research Institute.
- Xu Yuanzhong was appointed as the Dean of the Metaverse Institute of the RWA Research Institute.
- Yu Chiyu was appointed as the Vice Dean of the Legal Compliance Institute of the RWA Research Institute.
- Sui Yuan was appointed as a Partner of the RWA Research Institute.
Intelligent New Journey, Empowering the Industry
The afternoon session, themed "Intelligent New Journey, Empowering the Industry," focused on innovation in niche fields.
Mr. Xu Yuanzhong, initiator of the Metaverse and Artificial Intelligence Thirty-Person Forum and Dean of the Metaverse Institute of the RWA Research Institute, pointed out that humanity is currently transitioning from the real universe to a mixed parallel universe of the metaverse. The core mission of RWA is to map real assets to the digital universe, a process that will create trillions of dollars in development space. He emphasized that Hong Kong, as a global financial center where Eastern and Western civilizations converge, is an excellent place to promote a new round of technological revolution in RWA. Finally, he invoked the spirit of "youthful ambition" to call on the global post-80s, 90s, and 00s youth to seize the era's opportunities for the integration of AI and RWA, to jointly engage in this technological and industrial revolution, and to urge all sectors to work together to advance the integration of RWA and industry.
Mr. Shi Bohan, initiator of the RWA Research Institute and co-initiator of Web3TOP, expressed that the vision at the time of the RWA Research Institute's establishment last year has now been fully realized. He emphasized that the team has always adhered to the motto of "flying close to the ground": holding great ideals of "shaking the world" while also maintaining a pragmatic spirit of "flying close to the ground," overcoming challenges in technology, security, and law to turn visions into tangible projects. He stated that the ideas presented at today's conference will surely bring about world-changing practical results by the one-year anniversary, ultimately achieving the mission of "connecting RWA with everyone and putting everything on-chain."
Mr. Zhu Yidan, Dean of the Brand IP Institute of the RWA Research Institute, investor, and well-known video blogger, pointed out that the world is currently at a critical point of asset digitization transformation, and RWA is essentially a reconstruction of value relationships. He emphasized that brand IP serves as a key hub connecting traditional assets with the crypto world, and in the next five years, it will drive RWA from financial experimentation to mainstream economy. Finally, he called for "IP as the boat, compliance as the oar," to jointly build the Noah's Ark of physical asset digitization.
Li Jingnan, initiator of the RWA Research Institute, Dean of the Brand IP Institute, Vice Chairman of the China Blockchain Ecological Alliance, and Vice Chairman of the Canal Walk Action Committee of World Canal Cities, humorously introduced herself as "the first woman of brand RWA" during her keynote speech titled "Assetizing Brand, Empowering New Patterns." In her view, the next decade will be the era of brand RWA. The global trend for brands is that RWA can make the strong stronger and allow the "new" to quickly become strong. She urged companies to seize the track, stating, "A step ahead is a step, a step behind is ten steps." The various methods of stock tokens, NFTs, cross-border collaborations, and RWA tailored to Chinese characteristics are becoming increasingly clear, and more new ways and means of brand RWA will emerge in the future.
Liang Dong, CEO of Zero Knowledge (Beijing) Digital Technology Co., Ltd., stated in his keynote speech titled "Reaching for the Stars—RWA Asteroid Mining" that RWA is a value bridge between the silicon-based world and the real world, which will allocate social resources more efficiently and enhance the efficiency of social operations. RWA can provide a new form of community organization. RWA can make entire business projects more transparent. RWA can break down the boundaries between investors, operators, regulators, and consumers. RWA provides a new dynamic development mechanism for projects, allowing asteroid mining to become a space business project with the most participants globally.
Beihai, a technical consultant at Picwe, quoted economist John Hicks, stating, "Every industrial revolution is accompanied by a financial revolution," and proposed the need to establish a dedicated issuance, distribution, and trading system for RWA that combines the real yield characteristics of RWA. He emphasized that the core of compliance lies in the rationality of profit sources. By exemplifying US Treasury RWA products, he demonstrated the on-chain smart contract technology that enables 24-hour instant settlement and zero-cost cross-border transactions, representing a future evolutionary direction for traditional finance. Addressing the current "easy to issue, hard to sell" dilemma faced by 188 RWA projects, he pointed out that the crux lies in replacing the past "blockchain reform" mindset (the asset on-chain model of putting new wine in old bottles) with a new "blockchain+" approach. He further indicated the current RWA breakthrough involves "three combinations": first, combining regulatory compliance with standardized smart contracts to allow quality assets to quickly go on-chain; second, combining the borderless circulation of digital assets with licensed entities in Hong Kong to gradually amplify the role of the regional "bridgehead"; third, combining the "visible hand" and the "invisible hand" to ensure that Chinese assets "stay in China and flow through the world."
Arseny D., CTO of VoidChain, emphasized in his keynote speech titled "From RWA to Web3" that "the three difficulties of blockchain and cross-chain security are fatal obstacles to the landing of Web3, while capacity bottlenecks and extremely low efficiency are significant barriers to serving the real economy, and vacuum networks and infinite dimensional spaces point the way for the development of next-generation blockchain technology."
Jiang Guan, founding partner of Qianhai Kunrun, stated in his keynote speech titled "Promoting Digital Financial Development through Digital Scene Technology" that "the new international financial order calls for Hong Kong's digital finance to rise to the forefront, and digital scene technology, digital economic development, and the integration of digital and real finance are the solid foundation for Hong Kong to lead this round of global digital financial new consensus."
Clash of Ideas: Roundtable Discussion
In the second roundtable forum titled "New Infrastructure of RWA On-Chain Finance: Opportunities, Challenges, and Future Development Directions," Bai Haifeng, author of the world's first RWA research monograph: "RWA and Tokenization" and Director of the Asset Committee of the Hong Kong RWA Working Group, expressed his views: "If RWA is likened to a treasure of the digital age, then compliance is the key to unlocking that treasure." He called for the establishment of a dedicated regulatory framework for RWA (such as the "Token Law") and criticized the lagging nature of the current principle of "same risk, same regulation" (analogous to "regulating cars with horse-drawn carriage laws"), emphasizing that only innovative legislation can end the industry's chaos of "difficult distinction between pirates and good people," promoting RWA to reshape the reputation of Web3 and achieve healthy development within compliance.
Shi Xingguo, founder of Paralism Parallel Chain, member of the CCF Blockchain Committee, Vice Chairman of the China Embedded Software Association, and former Chief Engineer of the Internet Laboratory of the Chinese Academy of Sciences, who has been all in the Web3 industry for a full decade and is known as the "technical monk of the Web3 industry," described the current industry status as: "The preachers are present, but the pirates are gone." He believes the conditions for RWA's explosion are now mature, and brand-driven RWA will be the first to break through—its core value lies not only in financing but also in empowering the real economy through blockchain technology, building long-term brand influence and user ecology, with compliance being the fundamental prerequisite for achieving this goal.
Deng Di, investor at MINAX and Chairman of Taiyi Group, believes that "2025 will be the inaugural year for large-scale applications of Web3, and in the next decade, Web3 will deeply change the landscape of all industries, just like the internet did."
Liu Yaokun, CEO and Founder of Tailai Biotechnology, Independent Director of Japan's Solasia Biotech, Independent Director of Meisi Medical, and former Non-Executive Chairman of Gland Pharma in India, believes that "RWA empowers the healthcare industry, promotes the individualized development of health, and catalyzes the future!"
Bai Liang, CEO of Zero One Think Tank, believes that "in the next 3-5 years: globally high-quality, highly liquid assets will basically complete tokenization; RWA will become a mainstream method for enterprise asset management."
The roundtable host, Zhao Yidan, initiator of the RWA Research Institute, co-initiator of Web3TOP, and co-founder of Huoxun Finance, predicted: stablecoins will usher in a battle of thousands of coins, and RWA will empower various industries to flourish everywhere.
In the third roundtable forum titled "The Collision of RWA and Finance: The Future of Innovation and Integration," Jenny Yang, CEO of Starlabs Consulting, stated: "RWA is no longer just a narrative; it is having a substantial impact in the real world. With improved infrastructure and accelerated applications, it will unleash more possibilities. This is a field that innovators cannot ignore."
Mr. Yang Mindao, founder of dForce, believes: "The essence of RWA is the upgrade of the financial infrastructure ledger system, with its core driving force being the demand for high-yield assets from the massive amount of yieldless stablecoins on-chain (such as $250 billion); in the long term, RWA will reconstruct the properties of financial instruments (e.g., stocks transforming from yield certificates to programmable rights certificates), achieving a fundamental innovation in capital structure that far exceeds mere financing value."
Mr. Yu Chen, Chief Consultant of KUN and a council member of the Thirty-Person Forum, believes: "There are enormous opportunities in leveraging Web3's infrastructure and technology to empower traditional Web2 scenarios."
James, founder and partner of DogeOS and managing partner of GC Capital, stated: "Now is the golden opportunity to layout RWA. At this very moment of our conversation, global RWA infrastructure is accelerating its formation. The allocation mechanism and community co-construction are key to achieving sustainable growth and success for RWA. RWA will become the next growth engine for DeFi."
Eliora, Chief Strategy Officer of PicWe, international brand architect, co-founder of Blockchain Ventures, and former PR Director of Huobi Indonesia (2018), growth catalyst, brand growth strategy consultant, and ecological weaver, believes: "RWA will inject on-chain finance into the traditional world, reshaping the flow of global asset value under the catalytic influence of Web3's on-chain infrastructure and community."
Dai Yue, founder and CEO of DN.com Limited, stated: "2025 will be the inaugural year for large-scale applications of Web3, and in the next decade, Web3 will deeply change the landscape of all industries, just like the internet did."
The fourth roundtable forum focused on "Opportunities and Compliance Challenges of RWA Tokenization."
The roundtable host, Yu Chiyu, partner at Dacheng Law Firm and Secretary-General of the Dacheng Web3 Research Center, believes: "The compliance of RWA projects is not only about dynamic regulation on-chain and off-chain but also the art of legal coordination across jurisdictions."
Wu Junjie, head of the PROFIT HILL family office under the Singapore ich group, called out: "Follow the light, meet the light, get close to the light; chase the light, become the light, radiate the light. Let’s embark on the starry sea of RWA together."
Zhao Kefeng, Asia President and Professor at Paris School of Technology and Business, and Executive Chairman of the Shenzhen Artificial Intelligence Industry Association, stated: "Through RWA, perhaps every RMB overseas can penetrate into real assets, greatly enhancing the attractiveness of the RMB."
Liang Yanda, director of YTL Law Firm in Hong Kong, believes: "Hong Kong's mission is to translate the essence of a century of common law into smart contracts, connecting real assets with a digital future through Victoria Harbour."
Chen Haodong, partner at Dacheng Law Firm and director of the Guangzhou Blockchain Industry Association, believes: "The compliance of asset issuance in mainland China needs to focus on rights confirmation, on-chain processes, cross-border data, and credit risk."
Zheng Wenbin, Chief Technology Officer of Sanqi 360 Group, Chief Security Technology Officer, founder & CEO of Cyber Kunlun Technology, and one of the ten outstanding talents in national cybersecurity, stated: "Guarding RWA real-world assets in the Web3 domain cannot be solved by ordinary 'audit repairs'; only the world's top offensive and defensive capabilities and foresight can ensure that 'hacker law' remains confined to the laboratory."
At the end of the conference, a Super Node Award Ceremony was held to recognize the contributions of various media, institutions, communities, and volunteers to this conference. Thanks to the strong support of the following Super Nodes: METAERA, TECHUB NEWS, Foresight News, PANews, Jinse Finance, Chain Catcher, Starlabs Consulting, Aisky, Yishuli, Mankun, Shenzhen Blockchain Technology Application Association, SHENZHENDAO, Chafang Blockchain, Wangclub, BroadChain, 1783DAO, Binance Square, RWA Group, MarsBit, Planet Daily, B.news, Chain Dedede, Ctalks, Shijie Chain Finance, Tuo Luo Finance, and Dandian Finance.
If 2025 is the "genesis block" of the RWA industry, then the venue of this conference, the Hong Kong University of Science and Technology, is the starting point for recording this transformation. As we leave the clear water bay of Sai Kung, Hong Kong, what we take away is not just the agenda in the conference handbook, but a mission—to make RWA a "value bridge" connecting the real and digital worlds, allowing compliance innovation and technological inclusivity to illuminate the next decade of the global economy.
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