Bruce Lee: Hong Kong will become the world's largest biotechnology financing centre in the next 5 to 10 years.

The 2020 Hong Kong Stock Exchange (HKEx) Biotechnology Summit was held online on 1 September.
speech, the Chairman of the Hong Kong Stock Exchange, Mr. Shi Meilun, said that hong Kong had become Asia's first and the world's second largest biotechnology fund-raising centre shortly after the listing rules were changed to allow unprofitable biotechnology companies to go public.
, chief executive of the Hong Kong Stock Exchange, believes that the current performance is still insufficient and believes that Hong Kong can become the world's largest fund-raising centre for biotechnology companies in the next five to 10 years.
said the biotech sector attracted a lot of investment and market attention.
a number of biotechnology companies have been listed in Hong Kong this year, reflecting the increasing demand for financing.
believe that the biotechnology and healthcare sectors will be the main drivers of the market in the future and continue to attract more companies to list in Hong Kong.
She added that the business and financial sectors had joined forces to build and improve Hong Kong's biotechnology ecosystem, such as hang Seng's recent inclusion of unprofitable biotech shares in the Hang Seng Composite Index, and that the SAR Government had invested more than HK$100 billion in the development of ventures, including biotechnology, this year.
Shi Meilun pointed out that the impact of the new crown outbreak on the economy and society, but even with unprecedented uncertainty and challenges, Hong Kong's capital market has shown some resilience.
the end of July, the total market value of Hong Kong stocks increased by 26% year-on-year, with daily turnover rising 1.4 times year-on-year in July.
56 per cent in the first seven months of the year, while there are still good plans to issue new shares in the next six months.
she said the exchange would also attract more companies from fast-growing economies and markets to the Hong Kong market.
, Chief Executive Officer of the Hong Kong Stock Exchange, believes that the next 10 years will be an important moment in the development of biotechnology and believes that Hong Kong will become the world's largest biotechnology financing centre in the next five to 10 years.
At present, there have been great developments in global science, especially in China, where significant advances in life sciences and biotechnology, coupled with a growing population of 1.4 billion, an ageing population and rising medical costs, are the basic driving force for scientists to study biotechnology and promote the development of the industry.
, the Hong Kong Stock Exchange introduced Chapter 18A of the Listing Rules in 2018 to allow non-income health companies to list in Hong Kong.
Mr Li admitted that it would not be easy to combine scientists and capitalists, especially since Hong Kong was a traditional market and it was not easy for the market to accept public capital from non-income enterprises.
there was also a lot of discussion at that time that the HKEx should control the order and pace of listing of non-income health enterprises in order to control risk.
but glad they didn't intervene in the market to achieve today's results.
he described the market as ripe and would continue to compete and win at the global level in the future.
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