Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Thursday) it has signed a Memorandum of Understanding (MOU) with Hong Kong Science and Technology Parks Corporation (HKSTP), to explore new biotech and fintech initiatives. HKSTP is home to the city’s largest research and development base and a world-class innovation ecosystem, which will underpin the long-term growth of Hong Kong and the region as a global centre of excellence for biotech and new economy enterprises.
As part of the MOU, HKEX in particular will gain access to HKSTP’s deep pool of biotech industry experts to assist in its review of biotech listing applications. HKSTP will assemble a team who will share their knowledge and expertise with HKEX by providing advice on an “as needed” basis, helping to maintain HKEX’s robust standards of investor protection and leadership as the world’s number 2 biotech funding hub.
HKEX Chief Executive Officer, Nicolas Aguzin said: “We are delighted to be teaming up with HKSTP, a uniquely Hong Kong institution known for its innovation and expertise, to help drive the continued development of the city’s fast-growing biotech and new economy ecosystem. We look forward to working together, collaborating to realise our shared commitment to the community, which is to help support the growth aspirations of the leading companies of tomorrow.”
HKSTP Chief Executive Officer, Albert Wong said: “HKSTP firmly believes biomedical technology and fintech to be core pillars for Hong Kong’s innovation-driven future and this exciting partnership with HKEX brings us even closer to realizing this vision. This partnership creates the ideal investment platform and innovation ecosystem for the best local and international ventures to succeed and elevate Hong Kong’s position as a global biotech and fintech leader.”
The collaboration on biotech industry expertise comes as HKEX this year marked the third anniversary of major listing reforms that include permitting listings of pre-revenue biotech issuers. Since the reforms, Hong Kong has become the world's second-largest biotech fundraising hub, welcoming 73 healthcare and biotech listings that raised $227 billion. As of August 2021, over 50 healthcare companies had submitted listing applications.
HKSTP has created a unique biomedical technology development platform combining world-class infrastructure and incubation programmes, supporting companies with funding, research and development, product development and commercialisation. HKSTP now supports over 150 biotech companies covering medical devices, diagnostics, therapeutics and personal care, as well as regenerative and traditional Chinese medicine, representing a full spectrum of tech-driven healthcare solutions.
In addition to the sharing of biotech expertise, the MOU signed today between HKEX and HKSTP also includes exploring other opportunities for cooperation, and studying the feasibility of a financial data research platform for advanced data analysis.
HKEX Chief Executive Officer Nicolas Aguzin (seated, right) and HKSTP Chief Executive Officer Albert Wong (seated, left) shake hands after the signing of the MOU. The signing was witnessed by HKEX and HKSTP senior executives.
About HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.
www.hkexgroup.com
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