CD Tam of Hong Kong Science and Technoloy Park which opens its Bioinformatics Centre end of the year, expects more TCM companies to use Hong Kong as their base

Hong Kong is the ideal base for traditional Chinese medicine (TCM) companies, according to the head of the Hong Kong Science and Technology Park (HKSTP).

Chief executive CD Tam said that with the recent signing of the closer economic partnership arrangement (Cepa), Hong Kong could also be a manufacturing base for Chinese mainland companies as well as a R&D centre. Through Hong Kong, mainland companies would also have access to international markets.

Mr Tam singled out Hong Kong's efficient technical infrastructure, world-class universities, strong intellectual property protection and ready funds from venture capitalists as factors making Hong Kong desirable as a TCM hub. "In addition, Hong Kong offers three other major success factors - modernisation, standardisation and internationalism," added Mr Tam.

TCM, he stressed, is thousands of years old but it is always used within China. "We need to understand TCM in a scientific manner. With modernization, we are able to do DNA analysis and by combining TCM with modern technology we can bring it up to international standards and to international markets," said Mr Tam.

Hong Kong brand name helps in overseas foray

Last December mainland company Han Sheng Tang Herbal Technologies became an anchor tenant at HKSTP. "It is the first mainland TCM company to move manufacturing to Hong Kong following Cepa as the "Made in Hong Kong" brand name helps mainland companies in their overseas foray," said Mr Tam.

Later in the year, HKSTP's Bioinformatics Centre specifically designed to house biotechnology and TCM companies will be ready. Hua Da Bio-tech, a Chinese Academy of Science research institute involved in DNA decoding and sequencing and Yunnan Quhuan Hang Company, have applied to be tenants at HKSTP.

The mainland's oldest drug-maker China Beijing Tongrentang Group which recently inked a deal with Hong Kong conglomerate Hutchison Whampoa to develop traditional cures, is also in discussion with HKSTP. 

"HKSTP can provide world class synergy - shared facilities with technology and business support from our universities. With the world as our potential market, I definitely would expect to see more TCM companies locating in Hong Kong," said Mr Tam.

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Hong Kong Science and Technology Park