The Hong Kong Special Administrative Region government has identified life and health technology as a strategic industry, and is committed to developing Hong Kong into a global leader in this field, Sun Dong, secretary for innovation, technology and industry, said on Wednesday.

He made the remarks during the opening ceremony of BIOHK2025, the annual flagship biotechnology convention. Last week, the World Intellectual Property Organization (WIPO) announced that the Shenzhen-Hong Kong-Guangzhou cluster ranks first globally in its Global Innovation Index 2025.

“The top ranking is not only a recognition for the strong innovative capacity of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), but also a powerful endorsement for the Greater Bay Area as a fertile ground for innovation and technology investment and entrepreneurship, including biotechnology and other frontier technologies,” Sun said.

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Organized by the Hong Kong Biotechnology Organization (HKBIO), the convention, running through Saturday, delves into the longevity of life, exploring how the latest innovations in biotechnology will reshape the future of human health, as well as how Hong Kong is rising to seize these opportunities.

Secretary for Health Lo Chung-mau said, “Hong Kong's unique position in biotech is reinforced by national policies, including the 14th Five-Year Plan (2021-25), which designates Hong Kong as an international innovation and technology hub.”

He added, “We are pressing ahead with the reform of the regulatory framework for drugs and medical devices to facilitate the translation and application of biomedical innovations.”

George Hara, group chairman and CEO of DEFTA Partners, a California-based venture capital firm, called for corporations from the US and Japan to establish their presence in the city. “Hong Kong has top universities and research institutions that attract the best talent from around the world,” he said.

Following the opening ceremony, discussions was held at five separate venues, focusing on an array of topics, including artificial intelligence-driven pharmaceutical development, cell therapy, the modernization of traditional Chinese medicine (TCM), and the co-creation of an international innovation ecosystem.

“For us, Hong Kong plays a very central role in improving the success rate of drug discovery through the support of talent, infrastructure, and research facilities that we have here,” said Alex Zhavoronkov, CEO of Insilico Medicine, an AI-driven pharmaceutical company based in Boston, Massachusetts.

The event also explores investment opportunities. An exclusive initial public offering (IPO) roadshow session will be held on Thursday. A list of pre-IPO-stage companies will showcase their technological advancements and commercial prospects for investors to identify opportunities early on.

“China's contributions to the increased efficiency in the pharmaceutical industry play a key role in reducing global drug prices,” Liu Da, vice-president of BIOHK2025 and founder of the Hong Kong Life Sciences Investment Association, told China Daily.

“We live in an age of longevity; ‘anti-aging’ (has) become an important component in medical intervention and investment,” he added.

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The final day of the event is designated for the general public’s interests.

HKBIO Chairman Albert Yu Cheung-hoi, who is also a world-renowned bio-entrepreneur and scientist, said, “As an international biotechnology hub, Hong Kong needs knowledgeable and engaged citizens in this field. “The highlights include bioscience lectures delivered by renowned professors and a biotech wealth workshop for analyzing investment opportunities. This invites the public to explore the wonders of biotech and experience how innovations transform daily life,” he said.

BIOHK2025 marks the fourth edition of the BIOHK, first held in 2022, featuring over 250 distinguished speakers and more than 100 exhibition booths.

Contact the writer at irismuk@chinadailyhk.com