Offshore Changxin Tech Derivatives May Weaken Domestic Pricing Dominance

Synthetic perpetual contracts for Changxin Technology trade offshore in stablecoins, potentially eroding domestic capital market pricing power for Chinese tech assets.

Woofun AI reports that Zhao Yao, a special researcher at the Financial Research Institute of the Chinese Academy of Social Sciences, noted that offshore digital asset platforms have launched on-chain trading products linked to Changxin Technology. These instruments, which include synthetic and pre-market perpetual contracts settled in USDC and USDT, do not represent direct A-share equity but establish global price expectations and liquidity channels. Zhao Yao warned that if offshore platforms establish continuous trading markets for these technology assets, it could diminish the pricing dominance of domestic capital markets. He recommended accelerating RMB digital financial infrastructure, promoting tokenized deposits and wholesale CBDCs, and exploring technology asset tokenization pilots in Hong Kong to enhance international pricing power.