Hong Kong Hosts Business Forum in Philadelphia to Boost Life Sciences Collaboration and Innovation Opportunities.

2026-03-14 01:55 Last Updated At：02:08

New York ETO promotes Hong Kong's life sciences and health innovation in Philadelphia

The Hong Kong Economic and Trade Office in New York (New York ETO) hosted a business forum and spring reception on March 12 (Philadelphia time) in Philadelphia, one of the most significant life science clusters in the United States, to promote Hong Kong's expanding role as a global hub for health and life sciences innovation and to explore opportunities for cross-border collaboration. Over 130 business leaders, investors, and innovators from across Greater Philadelphia gathered to learn more about Hong Kong's role as an international life and health science hub.

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New York ETO promotes Hong Kong's life sciences and health innovation in Philadelphia Source: HKSAR Government Press Releases

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New York ETO promotes Hong Kong's life sciences and health innovation in Philadelphia Source: HKSAR Government Press Releases

As part of the Economic and Trade Express initiative, the business forum was co-organised by the New York ETO, Invest Hong Kong, and the Hong Kong Trade Development Council (HKTDC), strengthening efforts in trade and investment promotion, and reinforcing Hong Kong's role as a "super connector" and "super value-adder".

In her welcome remarks, the Director of the New York ETO, Ms Maisie Ho, highlighted Hong Kong's remarkable progress in life sciences and healthcare, emphasising the latest measures to propel Hong Kong's life sciences and health technology ecosystem through a multipronged approach.

She elaborated on Hong Kong's integrated development plan, including reforming the evaluation regime for drugs and medical devices, promoting the use of real-world data to facilitate clinical research, setting up dedicated institutes and academies for research and clinical trials at the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone in the Northern Metropolis, as well as dedicated efforts in attracting strategic enterprises, with a view to further strengthening Hong Kong's position as a leading health and innovation node.

Ms Ho added that Hong Kong's well-established financial ecosystem continues to play a pivotal role in supporting this growth. "Hong Kong ranks as the world's second-largest biotech fundraising hub, supporting a diverse range of innovative companies," she said.

The business forum featured two keynote presentations connecting life sciences and health innovation between Philadelphia and Hong Kong. In her keynote presentation, the Head of Business and Talent Attraction/Investment Promotion of the Invest Hong Kong in New York, Ms Yi Xie, highlighted Hong Kong as a launchpad for life sciences, showcasing its well- developed research and development infrastructure, robust intellectual property protection, and strategic gateway to the Guangdong–Hong Kong–Macao Greater Bay Area and Asia-Pacific markets. Meanwhile, the Director (New York & Midwest) of the HKTDC, Mr Curtis Louie, shared the range of support the HKTDC provides to Philadelphia companies, including matchmaking services for companies, and encouraged delegation participation in the upcoming Asia Summit on Global Health.

The presentations were then followed by a panel discussion moderated by the President and Chief Executive Officer of the Science History Institute, Dr David Cole, featuring the Founder and Chief Executive Officer of the ConSynance Therapeutics, Dr Liu Shuang; the Head of Global Business Development of the Jecho Laboratories, Dr Sarah Johnson; and the Director, Deal Advisory, US-China Corridor of KPMG, Mr Jon Hung. The speakers discussed collaboration, fundraising, clinical development, and market expansion in Asia.

On the same evening, Ms Ho hosted a spring reception for guests from the city's political, business, financial, and academic communities.

Government Clarifies Housing Support for Wang Fuk Court Residents Amid Misunderstandings on Move-Out Arrangements

Government refutes inaccurate reports

In response to media reports on the long-term housing arrangements for Wang Fuk Court, a Government spokesman said today (March 13):

Today, the media quoted some individual Wang Fuk Court owners as saying that upon receiving acquisition payments after selling their titles to the Government, or upon obtaining the keys to new flats under the Special Sales Exercise or "Flat-for Flat" arrangements, they would have to move out of the transitional housing within 30 days without any further rental grants. These claims are unfounded. The Government will continue to provide affected owners of Wang Fuk Court with accommodation and rental grants before they have finalised their long-term housing arrangements.

The Housing Bureau emphasised that operating organisations of transitional housing projects have all along been providing flexible move-out arrangements to the residents in need. The 30-day period is no hard-and-fast rule, but operating organisations will flexibly allow residents with genuine needs (e.g. pending completion of renovation works and moving to the new homes) to continue temporary rentals of the transitional housing units. This arrangement applies to all Wang Fuk Court residents no matter they choose to arrange their own long-term accommodation, or they opt for the Special Sales Exercise or a "Flat-for-Flat" arrangement.

On the rental grants, the Support Fund for Wang Fuk Court in Tai Po announced in December last year that it will provide owners of each unit in Wang Fuk Court with an annual rental grant of $150,000. The grant will be provided for two years and disbursed on a semi-annual basis, with each payment being $75,000.

For owners who choose to sell their titles and receive cash payment without participating in the Special Sales Exercise, rental grants will be provided up to the date on which the relevant funds are credited to their account. Owners may make their own long-term housing arrangements with such cash payments. Rental grants received before the credit date will not need to be refunded, but no further grants will be disbursed thereafter.

If owners opt to participate in the Special Sales Exercise, rental grants will continue to be provided up to the intake date of the subsidised sale flats (i.e. the date on which the keys to the flats are collected). By then, their long-term housing needs would have been properly addressed. Any rental grants received prior to the intake date will not need to be refunded, but no further grants will be disbursed thereafter.

The Housing Bureau's "engagement team" will clearly explain the relevant arrangements to the owners of Wang Fuk Court. Should the owners have any questions, they may contact the "engagement team" at any time.

Hong Kong Hosts Business Forum in Philadelphia to Boost Life Sciences Collaboration and Innovation Opportunities.

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