# Hong Kong is home to more than 260 listed healthcare and biotech companies with a combined market capitalisation of over HK$4.8 trillion (US$613 billion) The city government’s Innovation Technology Commission currently offers more than 50 funding schemes.

*biotech · news · 2026-04-16 · South China Morning Post*

## Key points

- The Greater Bay Area International Clinical Trial Institute was established in 2024 for cross-border clinical trials.
- Hong Kong's '1+' mechanism since 2023 allows local clinical data to expedite new drug registration.
- A new Hong Kong Centre for Medical Products Regulation will unify oversight of all medicines and devices by year-end.
- Tigermed exceeded enrolment targets for hepatitis B clinical trials in Hong Kong ahead of schedule in 2024.
- OASES partnerships brought 30 life and health tech firms, including four top global pharmaceutical companies, to Hong Kong.

**Companies:** GlaxoSmithKline, Tigermed
**Countries:** Hong Kong, China, UK

[Read the full story on South China Morning Post](https://www.scmp.com/native/business/topics/building-hong-kongs-future/article/3347785/how-hong-kongs-role-innovation-hub-helps-healthcare-and-biotech-firms)

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