On May 12, 2026, the China Pharmaceutical Innovation and Research Development Association (PhIRDA) and the Hong Kong Science and Technology Parks Corporation (HKSTP) officially signed a Memorandum of Understanding (MoU) in Hong Kong. Under the agreement, the two sides will jointly establish a collaborative platform to support mainland pharmaceutical companies in key areas of international development, including clinical translation, global regulatory registration, international partnerships, investment and financing, and commercialization and market expansion, thereby accelerating the entry of China’s innovative drugs into international markets. The signing ceremony was witnessed by Mr. GE Ming, Commissioner for Industry (Innovation and Technology) of the Innovation, Technology and Industry Bureau of the Hong Kong SAR Government; Ms. FENG Lan, Vice President of PhIRDA; and Mr. Terry Wong, Chief Executive Officer of HKSTP.

The MoU was signed by Ms. LU Xiaoti, Deputy Secretary General of PhIRDA, and Mr. Eric Or, Chief Ecosystem Development Officer of HKSTP, on behalf of the two sides. (From left to right: Terry Wong, GE Ming, and FENG Lan)

Mr. GE Ming, Commissioner for Industry (Innovation and Technology) of the Innovation, Technology and Industry Bureau, stated that Hong Kong is actively promoting the development of emerging and future industries in life and health sciences, including innovative medicines, diagnostics, and therapies. The signing of the MoU between PhIRDA and HKSTP will further integrate the strengths and resources of both regions, promote deeper integration between the healthcare innovation chain and industrial chain, and reinforce Hong Kong’s position as an international innovation and technology center.

Ms. FENG Lan, Vice President of PhIRDA, noted that China currently places great strategic importance on innovation-driven development in the pharmaceutical industry. In the recently released 15th Five-Year Plan Outline, the pharmaceutical industry was for the first time officially designated as one of the nation’s “emerging pillar industries,” underscoring its elevated role within China’s broader national development strategy. Against this backdrop, Hong Kong’s strategic significance within the national innovation ecosystem has become increasingly prominent. According to the World Intellectual Property Organization’s (WIPO) Global Innovation Index 2025 ranking of the world’s top innovation clusters, the “Shenzhen–Hong Kong–Guangzhou” innovation cluster ranked first globally, demonstrating the Guangdong-Hong Kong-Macao Greater Bay Area’s exceptional strengths and international influence in innovation resource aggregation, technology commercialization, and global collaboration. Leveraging its highly internationalized institutional environment, capital markets, and scientific research capabilities, Hong Kong is rapidly emerging as a critical hub connecting mainland China’s pharmaceutical innovation ecosystem with global markets.

Ms. Feng emphasized that PhIRDA has long been committed to promoting exchanges and cooperation between the mainland and Hong Kong in areas including pharmaceutical regulation, industrial policy, capital markets, and innovation ecosystem development, while actively supporting the construction of Hong Kong’s biomedical innovation framework. From advocating for the implementation of Hong Kong’s Chapter 18A listing mechanism, to facilitating policy dialogue on regulatory system development, and continuously strengthening cooperation with organizations such as HKSTP, both sides have consistently explored effective pathways to support the global expansion of China’s innovative pharmaceutical industry. She further noted that the signing of this MoU represents another important milestone in deepening cooperation between PhIRDA and HKSTP. Going forward, both parties will strengthen resource coordination, promote the efficient flow of innovation factors, and continue enhancing the biomedical innovation ecosystem.

Mr. Terry Wong, CEO of HKSTP, said in his remarks:“Hong Kong is a strategic gateway for the nation’s innovative medicines to reach the world. With the unique advantage of being backed by the Motherland and connected to the world, Hong Kong can effectively link the Mainland’s pharmaceutical innovation momentum with international resources. At present, Hong Kong Science Park is home to more than 330 life and health technology companies. This memorandum creates a fast track purpose-built to help Chinese Mainland pharmaceutical companies ‘go global’, shortening the time from clinical development to global commercialisation. We look forward to working closely with PhIRDA to bring more of Chinese Mainland’s innovative medicines to people worldwide and to further consolidate Hong Kong’s position as an international hub for pharmaceutical R&D and investment.”

Moving forward, PhIRDA and HKSTP will adhere to the principles of “complementary advantages, mutual benefit, coordinated advancement, and long-term cooperation” and establish a regular cooperation mechanism. Practical collaboration will focus on enterprise globalization services, resource matchmaking, platform development, and regulatory coordination. Together, the two sides will build an “Enterprise Globalization Acceleration Platform” to provide mainland pharmaceutical companies with integrated solutions for establishing and expanding operations in Hong Kong, including workspace support and landing services. They will also jointly organize thematic study visits, business matching activities, and high-level exchanges to facilitate deeper connections between enterprises and Hong Kong as well as global industry resources. In addition, both sides will work together to develop internationally influential platforms for pharmaceutical innovation and investment exchange, bringing together global innovation resources and capital to enhance the international development capacity of the industry. Cooperation will also extend to regulatory science innovation through the establishment of a regular “regulator–industry” dialogue mechanism, promoting policy research, regulatory alignment, and professional capacity building to facilitate more efficient access of innovative drugs and medical devices to mainland China, Hong Kong, and international markets.

The signing of the MoU marks a new stage of institutionalized and platform-based cooperation between the mainland and Hong Kong in the pharmaceutical sector. Looking ahead, PhIRDA will continue to leverage its strengths in resource integration and industry leadership within pharmaceutical innovation and investment, while working with HKSTP in its role as a coordinator of the innovation and technology ecosystem. Together, the two sides will accelerate the translation and commercialization of high-value innovations, support companies throughout the journey from R&D to commercialization, contribute to China’s innovation-driven development strategy, facilitate the integration of Chinese innovative medicines into global markets, and help position Hong Kong as a globally influential hub for life and health technology innovation, contributing more Chinese wisdom and solutions to global pharmaceutical innovation.

Following the signing ceremony, representatives from both sides jointly participated in the Mainland–Hong Kong Exchange on the Internationalization of Pharmaceutical Innovation Development. Mr. GE Ming, senior representatives from HKSTP, and PhIRDA members engaged in in-depth discussions under the theme “Multi-Stakeholder Collaboration: Building Hong Kong’s Ecosystem for the Global Expansion of Innovative Medicines.” Participants exchanged views on key topics including policy and regulatory coordination, industry ecosystem and platform development, capital and investment mechanisms, and international collaboration. Discussions also covered leveraging Hong Kong’s unique advantages under the “One Country, Two Systems” framework, enhancing support systems for companies expanding overseas, promoting compliant cross-border use of clinical data, exploring the “Mainland R&D + Hong Kong Clinical Development + Global Registration” pathway, and strengthening capital market support for innovative pharmaceutical companies. All participants agreed that greater policy coordination and resource integration between the mainland and Hong Kong are essential to further optimize the allocation of innovation resources and jointly foster a world-class international biomedical innovation ecosystem.