Central Asia's New Frontier: HKTDC Maps Out Key Trade Opportunities for Hong Kong

Amid persistent geopolitical uncertainties, the Hong Kong Trade Development Council (HKTDC) released a research report on Monday (May 18) entitled "Hong Kong's Connecting Opportunities in Central Asia."

Speaking at the report's launch, Mr. Bruce Pang, HKTDC Director of Research, described Central Asia as the geographical core of the Silk Road Economic Belt and the primary land link between Asia and Europe. He noted that the inaugural biennial China-Central Asia Summit (2023) and the subsequent 2025 summit established a specialised, high-level diplomatic framework between the Chinese Mainland and Central Asian countries.

Mr. Bruce Pang, HKTDC Director of Research, Photo by Bastille Post

According to data from the Ministry of Commerce, ongoing structural reforms, economic diversification, and improvements to investment and business environments present new opportunities for bilateral cooperation between China and Central Asian countries. Moreover, sustained economic growth, coupled with a youthful and dynamic demographic, ensures long‑term market vitality.

Mr. Pang pointed out that in 2024, Kazakhstan absorbed US$6.2 billion (52%), and Uzbekistan attracted US$2.2 billion (19%) of the Chinese Mainland’s investment in Central Asia in 2024. The Mainland’s investment in Uzbekistan rose from US$882 million in 2015 to US$2.2 billion in 2024, representing a compound annual growth rate of 10.7% over the period. He mentioned that Kazakhstan remains the largest investment destination for the Mainland in Central Asia.

Citing data from the General Administration of Customs, Mr. Pang said continuous growth has been observed in bilateral trade between the Chinese Mainland and Central Asian countries. Among them, Kazakhstan is the largest trading partner with the Mainland of the region, with the trade value of US$48.8 billion, accounting for 46% of the region’s trade in 2025.

Ms. Alice Tsang, Principal Economist (Global Research Team) of HKTDC, Photo by Bastille Post

Ms. Alice Tsang, Principal Economist (Global Research Team) of HKTDC, noted that Kazakhstan is the primary regional hub for business and investment in Central Asia, and the largest economy of Central Asia, with 53% of the region's GDP in 2025. She highlighted that Kazakhstan is also the most favourable FDI destination in Central Asia, with a volume of US$151 billion in 2024, accounting for about 70% of the region's inward FDI stock. Furthermore, it is currently the only Central Asian country with direct, operational rail links to the Chinese Mainland.

Ms. Tsang pointed out that the Astana International Financial Centre (AIFC), established in 2018 with an English Common Law jurisdiction, presents an opportunity for international financial institutions to enter the Central Asian market under a more familiar common law legal framework. With the favourable tax regime and incentives provided by the special economic zone, AIFC has attracted over US$21 billion in investment and 5,500+ registered companies since its establishment as of March 2026. As of the first half of 2025, 14 Hong Kong companies and 725 Chinese companies are registered with the AIFC.

She also noted that the Development Bank of Kazakhstan has issued a RMB 2 billion dim sum bond in Hong Kong in September 2025, marking the first-ever yuan-denominated bond issued by a government-owned Central Asian issuer. Kazakhstan's national company KazMunayGas has successfully issued a dim sum bond in the amount of RMB 1.25 billion in Hong Kong in October 2025, while Jiaxin International Resources Investment Limited, a Chinese mineral extraction company operating in Kazakhstan, debuted on the Hong Kong and Kazakh stock exchanges on 28 August in the world’s first such dual listing.

As for Uzbekistan, Ms. Tsang said the country aims to obtain full WTO membership by the end of this year. With alignment of legal and standards with the international community, as well as its improvement in market access and reduced technical barriers, Uzbekistan targets achieving a GDP of US$160 billion and a per capita income of US$4,000 in 2030, aiming to double the volume of exports to US$45 billion and increase the share of the private sector in the economy to 85%.

Mr. Pang noted that Kazakhstan and Uzbekistan are Hong Kong's key trading partners in Central Asia. According to Hong Kong's Census and Statistics Department, Hong Kong's exports to Central Asia reached US$313.4 million in 2025, while imports from the region stood at US$10.3 million. In 2025, Hong Kong's main export categories to Central Asian countries were: telecommunications equipment (35.5%), other goods (30.7%), and computers (16.4%).

According to Hong Kong's Census and Statistics Department, Hong Kong's main export categories to Central Asian countries were: telecommunications equipment (35.5%), other goods (30.7%), and computers (16.4%) in 2025.

For the potential collaboration between Hong Kong and Central Asian countries, Mr. Pang outlined four main areas where Hong Kong can seize opportunities: logistics, goods trade, gold trade, and finance. He specifically noted that in gold trade and finance, Hong Kong can leverage Central Asia's significant gold reserves to partner with its world-class trading, clearing, and storage ecosystem. As for finance, he pointed out that Hong Kong can address substantial funding requirements for large-scale industrial upgrades and infrastructure development.

When asked how Hong Kong can facilitate Central Asian businesses, Mr. Pang raised several suggestions: providing regional logistics management and distribution hub services; offering advice on international trade compliance and quality control; and connecting firms to GBA and Southeast Asian client bases.

He also said Hong Kong can offer access to diverse institutional and private capital pools, facilitate debt financing, public listing on HKEX, and trade finance structuring to meet businesses’ capital needs, and provide standard compliance consultation, testing, and certification, as well as ESG advisory and sustainable investment support. As for digital Transformation solutions, he said that Hong Kong can offer AI, Fintech, and smart city solutions.

Left: Ms. Alice Tsang, right: Mr. Bruce Pang, Photo by Bastille Post

Asked whether the current lack of direct flights between Central Asian countries and Hong Kong would hinder business development, Mr. Pang acknowledged that air transport is a potential problem, but one that can be addressed through alternative routes. He pointed out that a bigger challenge is the language barrier. While Hong Kong businesses may initially operate in major cities in Kazakhstan and Uzbekistan, expanding to other cities would be far more challenging in the future. To build deeper relationships, Hong Kong merchants would need to navigate local languages such as Kazakh, Uzbek, and Russian.

The fifth edition of the International Healthcare Week, organised by the Hong Kong Trade Development Council (HKTDC), will be held in Hong Kong from 11 to 31 May. The two flagship events – the sixth Asia Summit on Global Health (ASGH), jointly organised by the Government of the Hong Kong Special Administrative Region and the HKTDC, and the 17th Hong Kong International Medical and Healthcare Fair (Medical Fair), organised by the HKTDC and co-organised by the Hong Kong MedTech Association – serve as a comprehensive business platform covering the entire medical and healthcare industry chain, including technology R&D, investment matching, medical equipment manufacturing, medical products and services. The events will be held concurrently to maximise synergy at the Hong Kong Convention and Exhibition Centre in Wan Chai next month. The ASGH will take place on 11 and 12 May, while the Medical Fair will run from 11 to 13 May.

Sophia Chong, Executive Director of the HKTDC, said: “The medical and healthcare landscape is undergoing a profound and rapid transformation. Hong Kong, by leveraging its preeminence as an international financial centre, its world-class research ecosystem and its unique positioning bridging the Chinese Mainland and the world, serves as an ideal platform for scientific excellence, strategic investment and financing, and international trade for medical and healthcare innovation. The National 15th Five-Year Plan prioritises health development. The HKTDC will actively align with the Plan through the two flagship events of the International Healthcare Week – the ASGH and the Medical Fair. The events will focus on high-growth areas such as biopharmaceuticals, AI-empowered healthcare, the silver economy and modernisation of traditional Chinese medicine, and will help to accelerate commercialisation of research outcome, facilitate high-impact business matching, and boost cross-border investment. Collectively, the twin events reinforce the ‘Healthy China’ initiative, solidify Hong Kong’s position as Asia’s leading biotech and investment hub, and demonstrate Hong Kong’s role as a superconnector and super value-adder.”

Speaker line-up features Nobel Prize Laureate

The sixth ASGH, themed “Fuelling Healthcare Breakthroughs”, will convene a prestigious assembly of international health officials, scientific, medical and industry experts, start-ups and investors. Through various sessions, they will exchange valuable insights and navigate the latest frontiers in public health, medtech, international trade and investment, while unlocking the future prospects and untapped business opportunities of the industry.

The opening session will feature welcome remarks by Prof Frederick S Ma, Chairman of the HKTDC, and opening remarks by John Lee, the Chief Executive of the Hong Kong Special Administrative Region, followed by special remarks of Prof Zeng Yixin, Vice Minister of the National Health Commission.

On the morning of the first day, two plenary sessions will be held. Plenary Session I: Strengthening Pandemic Preparedness through Global Collaboration will begin with a keynote speech by Prof Lo Chung-mau, Secretary of Health of the HKSAR government. The session will be moderated by Prof Leo Poon, Daniel CK Yu Professor in Virology at the School of Public Health of the University of Hong Kong and Co-Director of The Hong Kong Jockey Club Global Health Institute. Speakers include Prof Ibrahim Abubakar, Vice-Provost (Health) at University College London; Dr Leung Yiu-hong, Head of Emergency Response and Programme Management Branch, Department of Health; Dr Kumanan Rasanathan, Executive Director of the WHO Alliance for Health Policy and Systems Research; Prof Wang Yu, Chairman, Chinese Foundation for Hepatitis Prevention and Control; and Dr In Kyu Yoon, Acting Deputy Director General at the International Vaccine Institute. They will delve into critical strategies such as pathogen surveillance, data sharing, and multinational collaboration to bolster the resilience of global health infrastructure.

Plenary Session II: Fuelling Healthcare Breakthroughs will examine how cross-sector collaboration catalyses the commercialisation of research outcomes and unlocks market potential. The session will feature a special address by Leng Weiqing, Chairman of Shanghai Industrial Investment (Holdings). It will be moderated by Victor Chu, Chairman and CEO of First Eastern Investment Group, with speakers including Jonathan Symonds, Chairman of GSK; Prof Song Ruilin, President of the China Pharmaceutical Innovation and Research Development Association; Dr Mehmood Khan, CEO of The Hevolution Foundation; Clara Chan, CEO of Hong Kong Investment Corporation Limited; David Lau of JP Morgan Securities; and Theresa Tse, Chairwoman of Sino Biopharmaceutical Limited.

On the afternoon of the first day, the Dialogue with Global Pioneer in Health session will feature 2013 Nobel Prize Laureate in Chemistry, Prof Michael Levitt, Robert W and Vivian K Cahill Professor in Cancer Research at Stanford University. Prof Levitt will share his distinguished journey in scientific discovery and envision the transformative impact of technology on future healthcare and scientific research.

With rapid advances in AI drug discovery, oncology, and precision medicine, the summit introduces a dedicated CSO Insights: Catalysing Scientific Breakthroughs and Investments for Future Health session on the morning of the second day. Chief Scientific Officers and R&D leaders from leading biotech and pharmaceutical companies, including Fosun Pharma, Omico, Zhaoke Ophthalmology, and more, will share how they set scientific strategy and forge partnerships that accelerate time-to-impact.

Thematic sessions address market trends and the National 15th Five-Year Plan

The pervasive adoption of AI is driving a paradigm shift across industries, including healthcare. This year’s summit will feature two thematic sessions, including Intelligence at Scale: How AI is Powering Real-World Healthcare Revolution and Transforming Healthcare through Digital Health & AI Innovations. Speakers will examine pragmatic integration and pioneering breakthroughs of AI within the healthcare system.

The silver economy represents a high-growth frontier. This year’s Summit will once again feature a dedicated Silver Health Chapter to address the complexities of an ageing demographic and unlock the sector’s burgeoning market potential. In the session Unlocking Growth in Silver Health: From Precision Medicine to Smart Ageing Innovations, distinguished speakers will discuss breakthroughs in the prevention, diagnosis and treatment of age-related diseases.

In response to the National 15th Five-Year Plan, and to catalyse the Healthy China initiative and regional collaboration, the Summit will include a session titled The Next Frontier in China's Healthcare Industry which will review the latest trends in medical innovation and investment in China.

The session Driving Chinese Medicine Development Through Standardisation and Innovation will address the National 15th Five-Year Plan’s emphasis on the inheritance and innovation of traditional Chinese medicine. Speakers will share insight on traditional Chinese medicine innovation, cross-sector collaboration and regulatory matters.

Over the two days, the Summit will cover a wide range of topical issues in the medical and healthcare sector, including sustainable healthcare systems, gene and cell therapy, rare disease treatments, medical robotics and devices, and IP financing strategies for pharmaceuticals and medtech.

Supporting the expansion needs of medical/healthcare enterprises

In addition to the plenary and thematic sessions, the Summit will feature the ASGH Business Hub and InnoHealth Showcase, which presents innovative technologies from some 180 medical and healthcare companies across 11 countries and regions. Many of the exhibitors have received prestigious awards. The Project Pitching session will provide start-ups with the opportunity to present their innovations to potential investors, while the ASGH Deal-making facilitates one-to-one meetings, both online and offline, to channel capital to healthcare projects.

Medical and healthcare enterprises can also access the “GoGlobal Connect” Zone and Business of Healthcare Advisory Zone to consult with service providers on overseas expansion, fundraising, and R&D collaboration. The Summit will also host a workshop titled Hong Kong as a SuperConnector to Empower Global Expansion of Pharmaceutical Enterprises, where medical and business leaders will share how pharmaceutical companies can leverage Hong Kong’s platform to seize overseas business opportunities.

The Medical Fair’s three key categories: MedTech, GeronTech & Preventive Healthcare

The 17th Hong Kong International Medical and Healthcare Fair will be held from 11 to 13 May. Themed Innovations Boosting Smart Health Experience, the Fair will provide an ideal platform for research and development institutions, manufacturers, public healthcare organisations, and healthcare professionals from around the world to establish global business connections.

The Medical Fair will gather some 300 exhibitors from 10 countries and regions. The exhibition will feature seven major zones, including the Startup Zone, Hospital Equipment and Digital Health, Biotechnology and Lab Diagnostics, Laboratory Technologies and Healthcare Services, Medical Supplies and Disposables, Rehabilitation and Elderly Care, and the World of Health and Wellness.

The Fair will focus on three key areas: MedTech, GeronTech and Preventive Healthcare. Among the highlights, an exhibitor will introduce a smart health wearable watch that integrates concepts from both Chinese and Western medicine to assess the functions of the five major internal organs and provide personalized health recommendations.

Another exhibitor will demonstrate an augmented reality (AR) surgical platform designed for orthopaedic surgeons, providing real-time 3D navigation during surgical procedures. In addition, an exhibitor will present a world-first smart knee brace that integrates AI and wearable technology to support post-knee surgery recovery and sports injury rehabilitation.

The Medical Fair actively promotes collaborative innovation across government, industry, academia, research, and investment. A number of leading research and academic institutions will participate, including nine local universities and over 30 innovation and technology enterprises led by Hong Kong Science and Technology Parks.

A startup will showcase innovative voice assistive technology products featuring a one-touch speech reconstruction function. More than 50 themed forums and seminars will be held during the fair, including “Accelerating Mental Health Innovation through AI Research and Adoption” and the “HKMTA Medical Fair Forum 2026: The Medtech Solutions - Greater Bay Area & Overseas”.

The exhibition will continue to adopt the “EXHIBITION+” hybrid model. The physical fair will take place from 11 to 13 May at the HKCEC. Global exhibitors and buyers can engage in discussions via the “Click2Match” smart business matching platform from 4 May until 20 May.

As the two flagship events of International Healthcare Week, the Asia Summit on Global Health and the Hong Kong International Medical and Healthcare Fair will gather global healthcare forces to create a cross-sector exchange platform, driving Hong Kong's development as a regional medical innovation hub.

The Asia Summit on Global Health

Date 11-12 May 2026 (Monday to Tuesday)
9:00am to 6:00pm (Opening Session at 10:00 am on 11 May)

Venue Hong Kong Convention and Exhibition Centre (HKCEC) Hall 3FG

Hong Kong International Medical and Healthcare Fair

Date 11-12 May 2026: 10:00am to 6:00pm
13 May 2026: 10:00am to 5:00pm

Venue Hong Kong Convention and Exhibition Centre (HKCEC) Hall 3DE

Last year's Asia Summit on Global Health highlights

Prof Michael Levitt, Nobel Laureate in Chemistry

Deal-making sessions at the Asia Summit on Global Health

Previous edition of the Medical Fair exhibition hall

Collaborative innovation and academic research in medical sector

Artificial intelligence and robotics in healthcare demonstration