PANews reported on May 11 that Guotai Junan International’s official account stated that according to the “Circular on Intermediaries Engaged in Tokenized Securities-Related Activities” issued by the Hong Kong Securities and Futures Commission, relevant business plans were submitted for the tokenized securities distribution business and the digital bond issuance business, and both have been confirmed by the regulators to have no further problems. It pointed out that Guotai Junan International submitted a wealth management-related business plan to the Hong Kong Securities and Futures Commission on January 21, 2025, intending to distribute tokenized securities to customers or provide advice on tokenized securities on the basis of existing securities transactions. The types of tokenized securities covered by the plan include; structured products linked to multiple underlying assets (such as structured notes, over-the-counter derivatives), SFC-approved funds and non-approved funds, and bonds. The Hong Kong Securities and Futures Commission sent a confirmation email on May 7, 2025, stating that there were no further questions about the plan.