TokenFlow: Latent Token Rectified Flow Matching for 3D Point Cloud Generation

3D point clouds generation requires capturing both part-level layout and surface detail while preserving permutation equivariance. Existing latent generative models often encode an entire shape into a single vector, which limits their ability to retain part-level structure. We propose TokenFlow, a hierarchical flow matching framework that represents each shape as a set of latent tokens and couples a rectified flow over these tokens with a conditional flow over points. A bottleneck of $M\ll N$ learnable tokens aggregates global context through cross-attention at $O(NM)$ cost. On ShapeNet, TokenFlow achieves the best MMD and coverage across airplane, car, and chair, while obtaining 1-NNA comparable to the strongest baselines. On ModelNet, its learned latent set reaches the best reported linear-evaluation accuracy on ModelNet10. These results show that representing a shape as a set of latent tokens, aggregated at $O(NM)$ cost, provides an effective representation for 3D point cloud generation.