Deep Tide TechFlow news: On October 04, according to a report by Caijing magazine, Zhang Ming and others, vice director of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, wrote that it is recommended for Hong Kong to explore the tokenization of dim sum bonds, treating them as an asset direction worth prioritizing in the era of the Hong Kong dollar stablecoin. Dim sum bonds combine advantages in RMB internationalization, Hong Kong’s regulatory framework, the national need for asset allocation, and offshore RMB and standardized financial attributes. With an internationalized issuing entity and characteristics of standardized fixed-income assets, they align with the global RWA (real-world asset) tokenization trend and could become a key breakthrough direction for Hong Kong’s digital finance development—an excellent underlying asset for the Hong Kong dollar stablecoin ecosystem. Whether a stablecoin ecosystem can generate long-term demand does not hinge on “who issues” it, but rather on “what assets can be bought, settled, and allocated.”