according to Bloomberg, a source revealed that the Hong Kong government has commissioned banks to prepare for a potential digital bond issuance, with more issuers possibly entering the market. It is reported that if this issuance proceeds, it will be the Hong Kong government's third issuance of digital bonds since 2023. Currently, there are at least six digital bonds issued by companies in Hong Kong, with a total fundraising amount of approximately $1 billion, of which about 70% was priced and issued in 2025. HSBC Holdings plc and King & Wood Mallesons stated that more companies from mainland China and other regions are considering issuing digital bonds in Hong Kong, with two state-owned enterprises from last month, Shenzhen Futian Investment Holdings Co., Ltd. and Mountain High Holdings Group Co., Ltd., completing digital bond pricing and issuance in the Hong Kong market.