Biomedicine opportunities lie in Xiamen

Hong Kong can learn from Xiamen, which boasts top-level design and long-term planning of a biomedical port, says Legislative Council president Andrew Leung Kwan-yuen.

Leung led 33 lawmakers to the sea port town of Xiamen as they continued their five-day trip in Fujian province yesterday.

Leung said Hong Kong should cooperate with Xiamen in biomedicine to enhance the city's strengths in research and financing through "a bigger pie together."

The delegation first visited the 17-year-old Xiamen Biomedical Port, where the world's first marketed hepatitis E vaccine, the first domestically produced cervical cancer vaccine and numerous innovative pharmaceutical-related products were developed.

Li Ye, biomedical port general manager, said the main task for companies in the hub is to carry out high-quality development, turn research results into products to meet consumers' health needs, as well as improve the local economy.

He said the port also donated rapid test kits to Hong Kong during the pandemic and worked with the University of Hong Kong in the development of the nasal spray Covid vaccine.

Li hoped to further cooperate with Hong Kong as it has an international environment with high-quality research, while Xiamen can provide cases for reference in addition to venues and access to the labor force.

The delegation had a dinner gathering with Xiamen leaders in the evening and will meet Hong Kong businessmen today.

A Hong Kong business association in Fujian, meanwhile, called on the government to provide more support to youngsters who want to develop their career in the area as they face difficulties like securing loans.

Cheung Hau-kan, vice president of the Hong Kong Chamber of Commerce in Fujian, said he saw an increase in the number of young Hongkongers starting their own business in the province in recent years - mainly in the catering industry.

"But they often encountered difficulties in seeking bank loans to start a business. I hope Hong Kong and local governments can provide them with a direct and effective support policy," he said.

In addition, the Fujian representative of the Hong Kong Trade Development Council, Cheng Pui-shan, said she had received a large number of inquiries from Hong Kong businessmen since the border reopened in February. Many were about the outlook of specific industries, loan processing and the financing environment in Fujian.

She believed Hong Kong businessmen will continue to invest in Fujian.

More than 780 new Hong Kong-funded enterprises were established in Fujian last year, with a total investment of over US$3.4 billion (HK$25.5 billion) - accounting for 60 percent of the total foreign investment in the province.

Cheng said Fujian enterprises also look forward to participating in trade exhibitions and contacting buyers in Hong Kong and hoped the city could provide them with financial and legal support.

stacy.shi@singtaonewscorp.com