{
  "id": 15367523,
  "title": "More drug, semiconductor firms eyeing Hong Kong for expansion, OASES head says",
  "url": "https://urgent.news/2026/10/18/more-drug-semiconductor-firms-eyeing-hong-kong-for-expansion-oases",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-18T06:54:46.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3371290/more-drug-semiconductor-firms-eyeing-hong-kong-expansion-oases-head-says"
  },
  "original_language": "en",
  "account": "Hong Kong is attracting more drug manufacturers and semiconductor businesses, according to Peter Yan King-shun, the head of the Office for Attracting Strategic Enterprises (OASES). Yan revealed that around ten to twenty more companies are set to establish or expand operations in the city, with an almost equal split between mainland Chinese and overseas firms. The announcement will be made on Thursday, with details of the next batch of firms to set up in the city. Among the incoming companies are several industry leaders with substantial market valuations. Five of the world's ten largest pharmaceutical companies have already established a presence in Hong Kong, including firms that will conduct clinical trials and develop new medicines. OASES aims to encourage pharmaceutical companies to contribute to the city's industrial development rather than simply sell medicines. The office is also stepping up efforts to attract semiconductor and advanced manufacturing businesses. Successful projects have encouraged competitors to explore opportunities in Hong Kong. While company size, investment amounts, and job creation are not the only considerations in selecting businesses, they are also important factors. Strategic enterprises must submit five-year plans detailing their proposed investments and job creation numbers. The office places particular emphasis on companies identifying their first flagship project in the city.",
  "summary": "Ten to 20 more companies are set to establish or expand operations in Hong Kong, including leading drug makers and a semiconductor business, with a roughly equal number of mainland Chinese and overseas firms, the head of a government investment office has said. Peter Yan King-shun, director general of the Office for Attracting Strategic Enterprises (OASES), a government body under the Financial…",
  "key_points": [
    "Hong Kong attracting 10-20 more drug and semiconductor firms",
    "Nearly equal split between mainland Chinese and overseas companies",
    "Five largest pharmaceutical firms already present in Hong Kong"
  ],
  "editors_take": "The influx of high-value pharmaceutical and semiconductor leaders signals a shift toward building a sophisticated industrial base centered on research and advanced manufacturing rather than simple retail distribution.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Tech in Asia",
        "title": "China Mobile Hong Kong trials U6G for next-gen networks",
        "url": "https://urgent.news/2026/10/18/china-mobile-hong-kong-trials-u6g-for-next-gen-networks",
        "published": "2026-10-18T02:50:36.000Z"
      },
      {
        "outlet": "South China Morning Post - Hong Kong",
        "title": "More drug, semiconductor firms eyeing Hong Kong for expansion, OASES head says",
        "url": "https://urgent.news/2026/10/18/more-drug-semiconductor-firms-eyeing-hong-kong-for-expansion-oases-15367613",
        "published": "2026-10-18T06:54:46.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}