[Zhao Yao: Offshore Platforms Launch On-Chain Trading Products for Changxin Technology, Potentially Undermining Domestic Pricing Dominance]
According to Caixin, Zhao Yao, a special researcher at the Payment and Settlement Research Center of the Financial Institute of the Chinese Academy of Social Sciences, stated that offshore digital asset platforms are introducing on-chain trading products centered around Chinese tech companies like Changxin Technology. These products are settled using stablecoins such as USDC and USDT. If offshore platforms take the lead in establishing a continuous trading market for tech assets, it could weaken the domestic capital market's pricing dominance over tech assets. Zhao Yao suggested accelerating the construction of digital financial infrastructure for the renminbi, promoting the development of tokenized deposits by commercial banks, wholesale CBDCs, and the tokenization of tech assets in a coordinated manner, while leveraging Hong Kong to explore pilot programs for tech asset tokenization.
