Hong Kong Aims to Become a Biomedical Innovation Hub
In a bid to transform Hong Kong into a biomedical innovation hub, Chief Executive John Lee Ka-chiu is expected to focus on attracting more drug companies to conduct clinical trials and research locally. The lure of potential access to the mainland Chinese market is seen as a key incentive for companies to set up operations in the city.
The upcoming policy address is likely to highlight the latest biomedical developments at the Lok Ma Chau Loop, where Hong Kong’s first government-led clinical trial institute is situated. Authorities are also considering expanding the local drug registration system to cover a wider range of medication types, ensuring quicker access to treatments for patients with various diseases.
Lee’s vision to establish Hong Kong as a health and medical innovation hub includes creating a drug regulatory authority and setting up a streamlined registration mechanism to expedite the approval process for new treatments. The aim is to attract scientists and overseas companies to conduct research and clinical trials in the city, fostering an ecosystem conducive to biomedical innovation.