[HSBC Liu Yanqi: There are still many challenges in the tokenization of real estate assets, such as compliance issues] Golden Finance reported on the scene that Liu Yanqi, head of global digital currency at HSBC, pointed out in a roundtable forum titled "Looking into the Future: Possible Paths for RWA to Connect New Global Opportunities": There are still many challenges in the tokenization of real estate assets, such as compliance issues, asset operation, data transmission, and especially cross-border issues. In the short term, we find that traditional bonds and other familiar financial products can be implemented; in the medium and long term, AI and IoT are the general directions of tokenization.