The Executive Director of the Office for Attracting Strategic Enterprises (OASES), Mr Bryan Peng, and his team conducted a duty visit to Shanghai from November 17 to 18. During the visit, the OASES team engaged in in-depth discussions with leading and representative companies in the life and health technology sector. Their focus was on exploring diverse business development opportunities in Hong Kong and promoting the establishment of Hong Kong as a hub for health and medical innovation.

     The Chief Executive's 2025 Policy Address clearly emphasises the importance of industry development and reform. Regarding the life and health technology industry, a key highlight is the establishment of the Hong Kong Centre for Medical Products Regulation by the end of 2026. Complementing this initiative is the new drug approval mechanism ("1+" mechanism) which facilitates pharmaceutical companies in accelerating the market launch of innovative drugs. Such policies provide strong support for companies to expand their businesses in Hong Kong and demonstrate the Government's commitment to becoming an international hub for health and medical innovation.

     During the visit, Mr Peng and his team visited a pharmaceutical company ranked among the top ten in China's pharmaceutical industry. The company has established 6 R&D centres worldwide and 11 manufacturing sites. In discussions with the company's management, they shared a series of policies aimed at promoting Hong Kong as an international hub for health and medical innovation, including the establishment of the Greater Bay Area International Clinical Trial Institute which supports both local and international pharmaceutical research institutions and co-ordinates multi-centre clinical trials with cross-border research transformation, ensuring that these trials meet both national and international standards. The company's management recognised Hong Kong's unique advantages, including its high level of internationalisation and expertise in medical and research fields. They expressed their commitment to closely collaborate with OASES, actively utilising Hong Kong as a platform to advance their international innovation and R&D initiatives.

     Subsequently, the team met with the management of a pharmaceutical company ranked among the top 50 globally and listed in Hong Kong. The company operates the largest research and production base for anti-tumour and surgical drugs in Chinese Mainland and is recognised as a highly innovative large-scale pharmaceutical company. The management expressed that the "1+" mechanism provides essential policy support for their products entering the Hong Kong market and affirmed the Government's investment and determination in the innovation and technology sector. Both parties agreed that Hong Kong, with its abundant high-end talent and international network, has become an important bridgehead for companies looking to expand globally. They also reached a consensus on advancing co-operation, including the establishment of overseas headquarter, research centre, corporate treasury centre, and drug registrations in Hong Kong.

     The team also visited the Shanghai branch of an international pharmaceutical multinational cooperation, where the OASES team was invited to participate in their "Expert Talk" event, engaging with teams and research management experts from various regions worldwide. During the event, Mr Peng and the Chief Manager (Life and Health Technology) of the OASES, Dr Maggie Lo, provided a detailed introduction on Hong Kong's innovation and technology policies and dedicated support schemes in the life and health technology sector. This presentation generated widespread interest among the participating experts and company representatives. The OASES team will provide necessary support to relevant projects aimed at being implemented in Hong Kong.

     Mr Peng remarked that the visit was highly fruitful. Through in-depth communication with industry leaders and representative companies, they effectively helped the companies gain a better understanding of Hong Kong's latest policies and provided critical insights for those looking to expand their global operations by leveraging Hong Kong's advantages as an innovation and technology hub. He emphasised that OASES is committed to attracting top international and Chinese Mainland pharmaceutical companies to establish operations in Hong Kong, in line with the key priorities outlined in the Chief Executive's 2025 Policy Address. Looking ahead, OASES will continue to expand its efforts and assist leading innovation and technology enterprises worldwide to establish in Hong Kong, further promoting the long-term development of the innovation and technology industry in Hong Kong.

Ends/Tuesday, November 18, 2025
Issued at HKT 23:24

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