HK & CHINA GAS completes its first RWA tokenization project with blockchain support from Ant Group

HK & CHINA GAS (00003.HK) announced the completion of its first real-world asset (RWA) tokenisation project. The group used a credit limit of HKD 100 million from its subsidiary "Mingqi Tong," which operates data centers and fixed-line services, as the underlying asset, with credit provided by Chuangxing Bank and blockchain support from Ant Group's Jovay Layer2 to ensure the security and reliable circulation of tokenisation information. Through loan information RWA tokenisation, key financial and operational data will be instantly recorded on the blockchain for authorized institutions to verify and reference.

The group indicated that the HKD 100 million credit limit for "Mingqi Tong" will be used to develop artificial intelligence data centers, artificial intelligence Internet of Things, and cross-border infrastructure projects, among others. Yang Leiming, Executive Director and Chief Financial Officer of China Gas, stated that this RWA tokenisation project lays the foundation for the group's future goal of enhancing capital allocation efficiency and provides an innovative financing channel for the company's business expansion