With the recent conclusion of the Two Sessions, the excitement surrounding the artificial intelligence (AI) wave sparked by DeepSeek remains palpable. A domestically developed innovative drug from the biopharmaceutical sector has also successfully made headlines.
During the CPPCC Members' Passage at the Two Sessions, Zhao Hong, chief physician at the Chinese Academy of Medical Sciences' Cancer Hospital, highlighted that an innovative drug, developed by the relatively "unknown" Chinese company Akesobio, has outperformed the world's best-selling anti-cancer drug, making a significant impact on the global new drug development arena.
An analysis of the growth trajectories of both companies reveals that both DeepSeek and Akesobio have benefitted from support from Hong Kong. Nancy Ip, a Hong Kong's deputy to the National People's Congress and president of the Hong Kong University of Science and Technology (HKUST), proudly mentioned that one of DeepSeek's founders is a doctoral graduate trained at the university.
Additionally, Akesobio has taken advantage of innovative listing rules on the Hong Kong Stock Exchange, which, since 2018, have allowed unprofitable biotech firms to list. Two years later, while still operating at a loss, Akesobio successfully went public, greatly fulfilling its funding needs during a critical phase of drug development, leading to significant breakthroughs.
The success of these companies is significantly influenced by Hong Kong's higher education talent cultivation and its advantages as a global financial center. From DeepSeek to Akesobio, and from SenseTime to DJI, leading tech firms in emerging industries such as artificial intelligence, biopharmaceuticals, robotics, electronic design automation (EDA), and quantum science have either been directly incubated or supported behind the scenes by Hong Kong.
For instance, in the EDA sector—often referred to as the "mother of chips" and historically constrained by Western powers—three doctoral graduates from the lab at the Chinese University of Hong Kong, under the guidance of their mentor, have broken international monopolies and launched EDA tools with globally leading performance. Today, the EDA tools from Easylogic serve almost all major chip companies in China and are witnessing significant international expansion.
These successful cases are not coincidental. Hong Kong benefits from the "one country, two systems" framework and the national strategy of the Guangdong-Hong Kong-Macao Greater Bay Area, along with unique advantages in research, finance, professional services, and global engagement. If the mainland is a jack-of-all-trades, then Hong Kong serves as a specialist. The rise of these companies is a result of the synergy between national strategies for technological innovation and Hong Kong's unique advantages, promoting a dual advancement of technological and industrial innovation in China.
However, the potential for tech innovation cooperation between the two regions has yet to be fully realized. As Andrew Yao, another Hong Kong's deputy to the NPC and chairman of the Lingnan University's Council, noted, there is still much work to be done in building bridges between Hong Kong's research capabilities and the mainland's industries. For example, the coverage of technology transfer platforms is still not broad enough, the interaction between Hong Kong scientists and mainland industries is not tight enough, and the mechanisms facilitating cross-boundary flow of innovation factors need further optimization. Moreover, the mindset of "quick profits" still partially exists in the industrial sector and even among government departments.
Promoting high-level technological self-reliance and strengthening emerging and future industries is a key focus in the Premier's government work report. Leveraging Hong Kong's strengths to serve the needs of the nation, these objectives reflect the current and future demands of the country. Over the past two years, the SAR government has launched a series of innovation and technology policies, demonstrating its determination and effort.
This year marks the end of the "14th Five-Year Plan" and a critical point for planning the "15th Five-Year Plan." Standing at this starting point, it is believed that Hong Kong will not be content with merely being a "super connector." Instead, it will strive to become a "super value adder" and a "super partner" in technological and industrial innovation, actively integrating and contributing to the nation in the new wave of technological and industrial revolutions.
(Source: Wen Wei Po)
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