Hong Kong ready to be biotech bridge, says Paul Chan

Financial Secretary Paul Chan declared Hong Kong poised to become the premier biotechnology bridge connecting global capital with Chinese biotech advancements, during a speech at the Biotechnology Investment Forum of BIOHK2026. He highlighted that global biotech fundraising surged to approximately US$70 billion last year, marking a 10% increase, and the value of deals hit an all-time high of US$300 billion.

Chan attributed this growth to factors such as aging populations, escalating healthcare demands, and technological advancements, including AI's role in drug discovery.

He emphasized Hong Kong's status as the world's second-largest biotech fundraising hub, with nearly 300 healthcare firms listed on the Hong Kong Stock Exchange, boasting a combined market capitalization surpassing US$480 billion. Chan further underscored that a listing on the Hong Kong Stock Exchange serves as a bridge, enabling emerging pharmaceutical companies to access global capital while allowing international investors to engage with Chinese innovation.

Additionally, he cited the Hong Kong Investment Corporation's allocation of 22% of its funds to the biotech sector and the Greater Bay Area as a burgeoning center for biomedical innovation.

Chan reiterated that the convergence of capital, talent, enterprises, and industry presents substantial opportunities for the biotech sector. He stressed that scientific progress, social benefit, and sustainable returns can and should progress hand in hand.