Hong Kong is bolstering the key elements of its biomedical ecosystem – talent, capital, and cross-boundary collaboration – as it pushes to become a world leader in launching new medical treatments.

Speaking at the 30th Hong Kong Medical Forum over the weekend, Financial Secretary Paul Chan highlighted a multi-pronged approach that leverages the city’s unique strengths, beginning with its legal environment. 

The city’s common law system, supported by an independent judiciary and strict adherence to international professional standards, ensures robust intellectual property (IP) security, which is a fundamental requirement for life-sciences investors considering the city, he said, in an address that was reported by China Daily.

The development of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is central to this vision, Chan added. 

Authorities are working to facilitate the flow of biological samples and clinical data across the SAR line to establish the necessary infrastructure for data-intensive, joint medical research. “Clinical trial institutions from both the (Chinese) mainland and overseas are already operating there. We are working to secure the establishment of branches of mainland regulatory authorities in the zone, to facilitate quicker access to the Chinese mainland market,” the official said.

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The government is also focused on leveraging AI to advance its aims. A new Committee on AI+ and Industry Development Strategy, announced in this year’s budget, is tasked with uniting experts from academia, business, and science parks to create a development roadmap for integrating AI into various sectors. Biotech and embodied intelligence have been identified as initial priorities for this programme.

In terms of human resources, the city’s talent pipeline is expanding. Hong Kong already boasts two medical schools ranked among the global top 25, and a third is set to join the ecosystem shortly. This, Chan explained, “will expand clinical research and talent training capacity at precisely the moment when global demand for medical expertise is at an all-time high.”

As for financing, the Hong Kong Stock Exchange is positioned as a primary international venue for biotech public listings, currently hosting more than 80 biotech firms with a total market capitalisation of HK$120 billion. Beyond public markets, the city also operates with the second-largest private equity pool in Asia, surpassed only by the mainland, alongside a dynamic venture capital environment. 

“The full spectrum of funding for basic research, outcomes translation, clinical trials to commercial scale-up is available right here,” Chan pointed out.

This integrated approach is anchored by the proximity of the Guangdong-Hong Kong-Macao Greater Bay Area, which he described as an innovation corridor featuring world-class research universities, pioneering start-ups, leading technology firms, and advanced manufacturing capabilities. Chan noted that “For a medical innovator, nowhere else puts lab bench, patient bedside and factory floor within one-hour drive.”