``` Geli Technology Plans to Issue Sandalwood RWA Token in Hong Kong, Aiming to Raise 100 Million Yuan ```
BlockBeats News, December 19th, according to
The Paper
report, Geely Technology Group, a subsidiary of Geely Auto, plans to transform rare Hainan Huanghuali wood into tradable RWA (Real World Asset) tokens. Zhao Xiaobao, its Chief Representative in Hainan, stated that this initiative could provide financial support to industries facing cash flow pressure. Geely Technology intends to issue the first batch of tokens in Hong Kong in the coming months, aiming to raise 100 million RMB.
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