Chinese tech, pharma firms eye Hong Kong as springboard for global expansion

Mainland Chinese technology and pharmaceutical companies are using Hong Kong as a launching pad for global expansion, industry leaders have said, as a major state-owned drugmaker weighs whether to invest in the city’s Northern Metropolis megaproject.The comments highlighting the city’s international background and professional expertise were made during a six-day trip to the rest of the Greater Bay Area, which was arranged by the Hong Kong and Macau Affairs Office and started on Sunday.“Hong Kong is stepping up efforts to develop its technology-sector" class="entity-link entity-topic" data-entity-id="192347" data-entity-type="topic">innovation and technology sector. Its unique blend of Chinese and Western cultures, along with its high degree of internationalisation, gives the city a clear advantage in developing the traditional Chinese medicine industry,” Chen Jiehui, vice-chairman of pharmaceutical-holdings" class="entity-link entity-organization" data-entity-id="192345" data-entity-type="organization">Guangzhou pharmaceutical Holdings, said on Monday.