According to PANews, the Secretary for Financial Services and the Treasury of Hong Kong, Xu Zhengyu, stated that the settlement cycle for tokenized green bonds issued by the Hong Kong government has been shortened from T+5 to T+1. Tokenization has improved the speed of fund transfer and transaction efficiency, and digital assets along with their blockchain technology can reduce transaction friction costs. Xu Zhengyu hopes that tokenization technology can be widely applied and connected to the real economy.