Hong Kong ready to be biotech bridge, says Paul Chan

Financial Secretary Paul Chan announced that Hong Kong is prepared to serve as the ideal partner connecting global capital with Chinese biotech innovation at the Biotechnology Investment Forum of BIOHK2026. Global biotech fundraising rose by nearly 10 percent last year, reaching approximately US$70 billion, with deal values hitting an all-time high of US$300 billion.

Chan credited the sector's growth to an aging population, increasing healthcare demands, and technological advancements, particularly the use of artificial intelligence in drug discovery. Hong Kong currently ranks as the world's second-largest biotech fundraising hub, with nearly 300 healthcare firms listed on the Hong Kong Stock Exchange and a combined market capitalization surpassing US$480 billion.

Chan emphasized that a Hong Kong listing links emerging pharmaceutical companies with global capital while enabling international investors to tap into Chinese innovation. He also noted that Hong Kong Investment Corporation has earmarked 22 percent of its funds for the biotech sector, and the Greater Bay Area is emerging as a key center for biomedical innovation.

Chan pointed out that five of the world's top 10 pharmaceutical companies have already established their regional research and development bases in Hong Kong. The convergence of capital, talent, enterprises, and industry, he said, offers significant opportunities for the biotech sector. Chan concluded by stating that scientific progress, social benefit, and sustainable returns can and should advance together.