#RWA: A state-owned local platform and a private securities firm, in collaboration with the Australian Stock Exchange (actually called MOX), claimed to have issued a publicly offered offshore RMB digital bond on a public blockchain. The bond was issued jointly by the Shenzhen Stock Exchange, the Australian Stock Exchange, and the Hong Kong Stock Exchange. The state-owned platform's official website has experienced a 404 error. MOX, in exchange for payment, posted a 100-word message, but the Shenzhen Stock Exchange couldn't find any information about the bond (this state-owned enterprise currently has four local bonds listed on the Shenzhen Stock Exchange). They also enlisted state-owned securities firms such as CMB International, CICC, and Orient Securities to distribute the bond in Hong Kong, but the public offering lacks a prospectus, and the smart contract is nowhere to be found on the public blockchain, only an address. Many people have asked me about this, and what they don't understand is: are these state-owned and private institutions colluding to fabricate information and promote stock prices through PR? Beijing has repeatedly warned Chinese institutions against hyping Web3 and the capital market. Are they defying the law? The most crucial thing is that a group of internet celebrities and self-media KOLs were collectively excited, analyzing the advanced nature and great innovation of this case one by one, but they may not even understand the details such as local bonds, offshore bonds, public offerings, public chains, the differences between the Shenzhen Stock Exchange and MOX, and the compliance of Hong Kong issuance.