I would like to extend a very warm welcome to you all to the Asia Summit on Global Health.

The National 14th Five-Year Plan emphasised on frontier fields such as life and health disciplines, and expressed clear support for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to develop into an international innovation and technology (I&T) hub. We will seize the opportunity brought by the GBA development to better leverage Hong Kong’s strengths in I&T, so as to contribute to national development.

To take forward the I&T development of Hong Kong to the next level, we have published the Hong Kong I&T Development Blueprint which sets out four broad development directions, formulates eight major strategies, and devises specific development targets at different stages with a vision to develop Hong Kong as an international I&T centre. Life and health technology has been identified as one of the focus industries in the Blueprint and the Government spares no effort in stepping up our support to the concerned research and start-ups.

Hong Kong is blessed with internationally recognised research capabilities in life and health sciences, as well as in fundamental research and development (R&D), with five of the world’s top 100 universities, two of the world’s leading 40 medical schools and numerous award-winning scholars and researchers. Hong Kong also has a vibrant biotech ecosystem which is conducive to the growth of life and health tech-related start-ups. We are now Asia’s largest and the world’s second-largest fundraising hub for biotechnology companies.

We have rolled out a series of initiatives to help enhance Hong Kong’s research capability and international network. This year’s Government Budget announced that $6 billion would be set aside out of the earmarked provision to provide subsidies for universities and research institutes to set up life and health technology research institutes, so as to foster cross-university, cross-institutional and multi-disciplinary co-operation, in a bid to facilitate transformation of R&D outcomes related to life and health technology.

Besides, the Government has earmarked $10 billion for a brand-new funding scheme namely “Research, Academic and Industry Sectors One-plus Scheme” which will fund, on a matching basis, at least 100 university research teams with clear potential to become successful start-ups to drive the "1 to N" transformation of outstanding R&D results and the tech industry development, and to boost collaboration among our academic, research and industry sectors.

The Government is also building the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) in the Lok Ma Chau Loop, with life and health technology being one of the priority development areas. In addition, the newly established Office for Attracting Strategic Enterprises is charged with drawing high-potential companies from all over the world to Hong Kong. We will offer a range of special measures and services to entice top global companies that fit our strategic needs and life and health technology companies are high on our priority list.

We will continue to cooperate with other Mainland cities in the GBA underpinned by the principles of complementarity and mutual benefits, thereby creating impetus to the development of life and health technology in the region.

We strive to better leverage our strengths to promote Hong Kong as an international I&T centre at full speed, and to better integrate with the development of the GBA and the country. Rest assured, there will be enormous long-term opportunities for our life and health technology start-ups, researchers, investors and entrepreneurs.

May I wish you all an enlightening and rewarding Summit. Thank you.