Chinese tech, pharma firms eye Hong Kong as springboard for global expansion

Mainland Chinese technology and pharmaceutical firms are leveraging Hong Kong as a springboard for global expansion, according to industry leaders. During a six-day visit to the Greater Bay Area, Chen Jiehui, vice-chairman of Guangzhou Pharmaceutical Holdings, highlighted the city's unique blend of Chinese and Western cultures, internationalization, and potential for developing the traditional Chinese medicine industry.

Chen's company, a major state-owned pharmaceutical enterprise, is considering investing in Hong Kong's Northern Metropolis megaproject. Wang Yuemiao, executive dean of the central research institute of PCI Technology Group, noted that Hong Kong can assist mainland enterprises in expanding globally, thanks to its mature international business network and a robust system of professional services in law, finance, accounting, and intellectual property.

Xue Peng, vice-president of EHang, a company focused on advanced air mobility, expressed optimism about Hong Kong's potential in developing drone logistics and aerial drone transport, particularly for cargo delivery. The city's numerous islands and cross-border logistics applications could also be explored. Hong Kong's government has established a GoGlobal Task Force to encourage mainland enterprises to use the city as a platform for overseas expansion, as part of the broader push to integrate into national development by leveraging the bay area strategy and the Belt and Road Initiative.