Hong Kong lags behind Singapore in biotech race, but Greater Bay Area could prove its trump card

Hong Kong’s research and development (R&D) efforts get a chance to catch up with plans for Lok Ma Chau Loop project

Singapore’s success so far the result of clear vision, funding, support for start-ups, experts say

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When the Hong Kong Institute of Biotechnology was built in 1988, it was just a year after Singapore set up its Institute of Molecular and Cell Biology, the first research centre of its kind there. Illustration: Henry Wong

Published: 10:00am, 8 Dec 2020Updated: 1:37pm, 8 Dec 2020

More than three decades after Hong Kong and Singapore separately embarked on growing biotechnology sectors at almost the same time, their outcomes have proven dramatically different.

Observers say Hong Kong’s efforts have sputtered and lagged behind Singapore’s strides in setting up a range of research institutions, attracting top talent and manufacturers, creating jobs and providing a launch pad for start-ups.

There is now a new urgency for Hong Kong to prove its prowess, given China’s five-year goal of self-sufficiency in technology.

Under President Xi Jinping’s Greater Bay Area plan, Hong Kong is also expected to work with neighbouring Shenzhen, Macau and eight other cities in Guangdong province to create a high-technology powerhouse to rival California’s Silicon Valley by 2035.

Hong Kong’s Science Park occupies 22 hectares (54 acres) in the New Territories. Photo: Shutterstock

Belatedly, Hong Kong has begun signalling its seriousness in speeding up development of its biotechnology sector, which includes research and development (R&D) in biomedical sciences, pharmaceuticals and the creation of new drugs.

Biotechnology was first identified as a priority in the city’s 2018 budget, which earmarked a massive HK$40 billion (US$5.2 billion) for the Hong Kong Science and Technology Park (HKSTP), the statutory board overseeing the main research hub, Science Park.