In the past two decades, Hong Kong's economy has continued to evolve from a transit trade port to an international financial center and innovation and technology hub. The industrial structure and capital market have been deeply reshaped, and Hong Kong's role has also transitioned from a traditional "super contact" to a "super value-added person" who can create value throughout the entire chain.

In this transformation process, the Hong Kong Chinese Chamber of Commerce and Industry and its Executive Chairman Chen Feng are both witnesses and deep participants.

The association was established in 1996, initiated by Hong Kong business people, with members covering key fields such as finance, trade, science and technology innovation, and professional services. It has long relied on Hong Kong's international platform to promote the integration of mainland and overseas markets.

 Coincidentally, with the booming development of Hong Kong after its return and the increasingly evident institutional advantages, it has become a trend for mainland enterprises to borrow from Hong Kong to go global.

Nowadays, the global biopharmaceutical trend is rising, the Hong Kong Stock Exchange's 18A policy is being implemented, and the biotechnology boom is surging. We will always follow the trend and empower mainland pharmaceutical companies to go global, and Hong Kong will also use this opportunity to move from a financial center to a highland of biopharmaceutical innovation.

01、Mainland China's core "springboard" for going global

In the past few years, Hong Kong has developed into the second largest biotechnology financing center in the world and the first in the Asia Pacific region. Despite the ups and downs of the market, the CEO of the Hong Kong Stock Exchange has issued a clear signal in public: "Global capital is looking at China, looking at Hong Kong
The profound international financial background, combined with the 2018 listing system reform that opened the door for unprofitable biotechnology companies, has led to the convergence of a large amount of international and regional capital here.

According to data from the Hong Kong Stock Exchange, since the reform, as of the end of January 2026, 84 companies have been listed under Chapter 18A, and biotechnology companies have raised over $17.5 billion in new stock financing in Hong Kong. In May 2025, the Hong Kong Stock Exchange officially launched the "Science and Technology Enterprise Line" to further facilitate the application for listing of biotechnology companies.

The activity of the capital market not only changes the financing path of enterprises, but also forces relevant service institutions to upgrade their capabilities. As a long-term business organization rooted in Hong Kong, we have always keenly grasped this trend and established the Biomedical Professional Committee to link academic and industry resources, in order to more accurately serve this rapidly growing emerging sector.

Chen Feng repeatedly emphasized one word - 'landing capability'. According to him, the landing service system of the association covers the entire life cycle of enterprises: from the most basic company registration, bank account opening, intellectual property protection, trademark and patent registration, to continuous follow-up before, during and after listing.

Listing is the beginning, not the end, of a company. "Chen Feng reminds that companies must learn to continuously" speak out "in the capital market. Many companies' market value declines after going public precisely because they neglect continuous communication with the capital market.

In addition to capital, talent is also a key player in Hong Kong's layout of biopharmaceuticals. In the 2026 QS World University Rankings, the positions of five universities in Hong Kong continue to move forward. The Faculty of Medicine at the University of Hong Kong is strong, and many universities are actively building medical schools, forming a clear talent siphon effect.

The policy guidance of the special administrative region government is also implementing the above two forces in practice. Under the framework of building a global innovation and technology center, Hong Kong has provided a package of support for biotechnology enterprises, including research and development subsidies and talent introduction. What the industry is most looking forward to is the "Hong Kong version FDA" review and approval agency that is currently under construction.

At the recent Asia Healthcare Summit Forum, Hong Kong Chief Executive Carrie Lam made it clear that the "first level review" for drug registration has been launched in March this year, and the Hong Kong Centre for Drug and Medical Device Regulation will be officially established before the end of the year.

Chen Feng believes that once this system achieves mutual recognition with European and American standards, it will fundamentally rewrite the certification path for Chinese pharmaceutical companies going global, "providing more convenient space and convenience for mainland enterprises in the international market in the future. He revealed that the association will always maintain regular interaction with Legislative Council members and relevant departments, closely track policy progress, and strive to provide a channel for communication as soon as the system is implemented.

02、goes from 'passive sea voyage' to 'prepared departure'

As a special existence under the "One Country, Two Systems" policy, Hong Kong's ability to meet international standards is still irreplaceable by mainland cities. Over the years, Chen Feng has observed a key change: the attitude of mainland enterprises towards Hong Kong is shifting from "passive guidance" to "active embrace".

Two or three years ago, it was necessary to guide companies through institutions, governments, and media to tell them that Hong Kong was good. Now, companies have come knocking on their doors and know that Hong Kong is an indispensable part of their development process. "He said that companies no longer need to be persuaded" whether or not to go to Hong Kong, "but urgently want to know" how to go and what to do.

Faced with the high enthusiasm of enterprises, Chen Feng also gave practical suggestions. He noticed that many companies misunderstood the positioning of Hong Kong and attempted to relocate all departments, but the high operating costs were not suitable for the overall relocation. A more feasible path is to place the R&D center or overseas sales platform in Hong Kong, allowing roots to stay in the mainland and branches to extend globally through Hong Kong.

However, when "going global" became a high-frequency term, many companies exposed their shortcomings in practical operations. Chen Feng repeatedly mentioned two issues in the interview: short sightedness and lack of compliance - which he regarded as the most common "hidden dangers".

The biggest common problem among mainland enterprises is that they do not place as much emphasis on compliance and do not have a long-term vision. "He explained that too many companies simply understand going global as" selling goods and receiving cash. In fact, biopharmaceutical products are directly used in the human body, and countries have extremely strict and diverse requirements for safety, access permits, and intellectual property rights. Blindly going out to sea may backfire, only by being prepared can one reap rewards.

A case study is enough to illustrate the value of compliance as a prerequisite: a company investing in and building a factory in Vietnam completed the entire process from procedures to construction in six months. The secret is that the business owner brought lawyers, tax consultants, and a professional team familiar with local land regulations at the beginning of the operation, thoroughly identified all compliance risks before taking action.

First, dig out all the holes and fill them accordingly, and time will naturally be fast, "Chen Feng commented. Many companies cannot complete it in a year because they always want to save the professional service fee in the early stage and try to touch it themselves, but the cost of stepping into the holes later on is much higher." Professional things need to be done by professional people. Ultimately, the cornerstone of all overseas strategies lies in compliance.

- Conclusion -

Relying on Hong Kong's international platform, Chen Feng has repeatedly suggested that mainland enterprises borrow from Hong Kong to go global. Now he further points out that Hong Kong is not only a "springboard", but also a strategic pivot for enterprises to go global and achieve long-term layout, and the key is to make good use of its unique advantages.

At the upcoming "Great Nation New Drugs" global conference in Shanghai in July, the association will set up a sub venue to invite relevant departments of the Hong Kong SAR government, biopharmaceutical investment and financing institutions, and listed M&A experts to provide policy interpretation and implementation scenarios for mainland enterprises. Chen Feng hopes to use this window to build a "rainbow bridge" and let more companies see the long-term strategic value of Hong Kong.

The wind ignites the fragrant river, and the tide connects the four seas. The global biopharmaceutical landscape is being redrawn, and the maritime strategy of Chinese pharmaceutical companies is also being rewritten.