Marked a milestone in the Golden Age for Middle East and Hong Kong relations

HONG KONG SAR – Media OutReach – 15 September 2023 – The Hong Kong Science and Technology Parks Corporation (HKSTP) welcomed an official United Arab Emirates (UAE) delegation led by the Minister of Economy marking a milestone in the Golden Age for Middle East and Hong Kong relations and further deepening the collaboration between Hong Kong Innovation and Technology ecosystem with Middle East.

H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy, was in Hong Kong to attend the two-day Belt and Road Summit and visited the Science Park as part of his itinerary. The visit follows an earlier delegation in February to the UAE led by Hong Kong Chief Executive, John Lee and attended by HKSTP Chairman, Dr Sunny Chai.

The accompanying delegation, which includes representatives of the UAE’s private sector, visited InnoHK’s Multi Scale Medical Robotics Center, as well as the Science Park’s Experience Centre. They met with senior executives from HKSTP including Dr Chai and CEO, Albert Wong to discuss how new doors can be opened for tech ventures as well as explore mutually beneficial development opportunities.

The delegation met with companies from the Science Park and its alumni network with interest in expanding into the UAE. The companies include Cornerstone Robotics, FJ Dynamics, Floship, FreeD, Lalamove, Meat the Next, Prenetics, Rice Robotics, SenseTime and Smartmore. Selected companies also had separate discussions with Emirati corporates that have expressed interest in potential partnerships.

Ir Dr HL Yiu, Chief Corporate Development Officer at HKSTP, said, “Innovation and technology is relentless. This is why HKSTP is committed to harnessing its resources to build bridges for tech ventures to pave way to blue ocean opportunities and long-term success. The UAE is a cosmopolitan and digitally progressive market that offers incredible expansion opportunities, while Hong Kong is an international innovation and finance hub that can help accelerate the journey from start-up to scale-up. I am confident that we will see further opportunities for collaboration and mutually beneficial partnerships.”

H.E. Abdulla Bin Touq Al Marri, Minister of Economy of the United Arab Emirates, said, “The Belt and Road is one of the most important economic development corridors in the world right now and we are humbled that Hong Kong has welcomed the UAE with open arms. As Asia’s global innovation and financial hub, Hong Kong is an attractive destination for tech ventures where they can incubate, thrive and scale. At the heart of this is HKSTP and by connecting Hong Kong’s I&T ecosystem with the UAE’s, it is opening doors to new opportunities between our markets and beyond.”

Appendix – List of Companies

Hashtag: #HKSTP

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B2B Collaboration Enables Industry-First Rollout in Hotels

HONG KONG SAR – Media OutReach – 15 September 2023 – bonaqua®, Hong Kong’s leading bottled water brand¹, has been promoting sustainable development for years. Echoing the brand’s mission to continuously explore sustainable solutions, bonaqua® became a sponsor of this year’s “ReThink Sustainable Development Business Forum and Solutions Expo” (ReThink Expo). A “bonaqua® Sustainability Journey and Refill Station” was installed at the expo to showcase the company’s commitment to improving packaging and promoting sustainability over the years. Meanwhile, bonaqua® unveils its mineralized water in returnable glass bottles, marking a pioneering B2B collaboration with the hotel industry. This collaboration advances bonaqua®’s sustainability vision through a 100% returnable glass bottle design.

bonaqua® believes that the introduction of its new returnable glass bottle products to the hotel and B2B industries can help drive corporate commitment to sustainability. Starting in September 2024, bonaqua® mineralized water in returnable glass bottles will be available at different hotels, motivating hotel guests and its employees to adopt these eco-friendly alternatives and develop recycling habits.

Designed with eco-friendly elements including recycled materials, bonaqua® mineralized water in returnable glass bottles is specially designed for the needs of the hotel industry, who shares a common aspiration on sustainability. Key features of the new bonaqua® mineralized water in returnable glass bottles include:

1. Recyclability: Made of high-quality food-grade glass, bonaqua® mineralized water in returnable glass bottles is designed to be 100% recyclable and returnable, significantly reducing carbon emissions.
2. Durability: bonaqua® mineralized water in returnable glass bottles has a shelf life of up to 365 days.
3. Compatibility: bonaqua® mineralized water in returnable glass bottles currently comes in 250ml and 750ml bottles, catering to different needs of the hotels. For example, the 250ml bottle can be used for business conference participants, while the 750ml bottle can be placed in guest rooms for daily consumption. (Placing two complimentary 750ml bottles in each guest room will help reduce refilling frequency and staff workload.)
4. Easy operation: The returnable bottle crates are light-weight and space-saving, easy to store and transport for easy daily handling by hotel staff.
5. Established transportation system: A bottle return mechanism is set up with participating key customers. Multiple transportation solutions are available to suit different customer needs, supported by a professional logistics team to ensure proper recycling.

The introduction of bonaqua® mineralized water in returnable glass bottles also aligns with The Coca-Cola Company’s vision of a ‘World Without Waste’ – a global commitment to collect and recycle every bottle or can that the company sells by 2030.

Marella Canepa Risso, Franchise Operations Director, Hong Kong and Macau at The Coca-Cola Company, said, “As Hong Kong’s most popular bottled water brand, bonaqua® has been continuously exploring packaging breakthroughs to reduce product packaging and increase bottle recyclability. We’ve also been promoting public awareness on sustainability through community campaigns such as ‘Power of Less’ and ‘Choose Less’, educating the public about proper recycling and engaging the community to build a World Without Waste together.” Marella added that the company has already been receiving orders for bonaqua® mineralized water in returnable glass bottles from hotels: “This is an industry-first rollout in the hotels. By joining hands with the hotel industry, we can make significant strides in sustainability. We hope that this collaboration will inspire other industries to prioritize sustainability and work together towards a greener future.”

Packaging innovations and sustainability efforts help establish bonaqua® as a sustainable brand

The “bonaqua® Sustainability Journey and Refill Station” at the Rethink Expo not only showcased various bonaqua® bottled water packaging designs, but also, with a water refill station, invited visitors to use their refillable water bottles and invite them to rethink their sustainability habits.

The launch of bonaqua® mineralized water in returnable glass bottles further enhances the brand’s commitment to a sustainable future. Since 2020, all locally produced bonaqua® mineralized water products (2L or below) have adopted 100% rPET (recycled plastics) for production of bottles, each of which weighs 11.8g (per bonaqua®’s 500 ml bottle), that is 52.8% lighter than a typical PET bottle found in the market, which weighs 18 – 32g², helping to reduce carbon footprint by 29% ³ as compared with most other brands in Hong Kong. In 2022, bonaqua® launched its first label-less bottled water for individual sale, further reducing packaging waste and improving recyclability through innovative product packaging.

Earlier this year, Coca-Cola Hong Kong staged the first-ever “Recycle Bar”, featuring 30 pieces of 3D-printed bar furniture made out of 18,000 recycled plastic bottles, as well as a collection of rPET-turned everyday items. The exhibit highlighted the importance and benefits of recycling plastic bottles. This time around, bonaqua® displayed furniture made from rPET at the ReThink Expo with a message loud and clear: used PET bottles can be given a new life – again and again – if returned and recycled properly.

If any customers are interested in learning more about the bonaqua® mineralized water in returnable glass bottles, please feel free to contact the Swire Coca-Cola Hong Kong customer service hotline at +852 2210 3888.

_____________________________

­­­­­­­­­­­­­­­­­­­­­¹Nielsen MarketTrack Service data shows that bonaqua® was ranked first in Sales Volume (Litre) in the Packaged Water category for the 15-year period ending November 2021 for Total Supermarkets, CVS, Drug Stores, Provision Stores and Soft Drink Outlets in Hong Kong.

2 bonaqua®’s 500 ml bottle weighs 11.8g, which is lighter than the typical PET bottle found in the market, which weighs 18 – 32g. (Source: New Life Plastics Ltd – https://www.nlplastics.com.hk/pet-hdpe/)

³ Refers to bonaqua® 500ml only.
Based on research conducted by a local university, ‘Consequential Life Cycle Analysis Results for the Development of bonaqua® Environmental Claims’ (July 22, 2022)
Compared with the other top-selling bottled water brands in Hong Kong based on Neilson Retail audit (2021) for the 500mL plastic bottle category, the bonaqua® bottle has a total CO2e that is 29% lower than an average bottle.

Hashtag: #bonaqua

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About The Coca-Cola Company

The Coca-Cola Company is a total beverage company, offering over 500 brands in more than 200 countries. In Hong Kong, the company has a portfolio covering sparkling, sweetened and unsweetened tea, juice, sports drink, water, enhanced hydration beverages, etc. We have 15 brands offering 70 different variants such as “Coca-Cola”, “Coca-Cola No Sugar”, “Coke Plus”, “Sprite”, “Fanta”, “Schweppes”, “OOHA”, “Bonaqua” Mineralized Water, “Authentic Tea House”, “Minute Maid”, “Minute Maid Qoo”, “Yeung Gwong”, “Aquarius”, “Healthworks”, and “Kochakaden” CRAFTEA”. We are constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. Learn more at https://www.coca-colacompany.com/ and follow us on Facebook and Instagram.

About Swire Coca-Cola HK

Swire Coca-Cola HK (SCCHK) has been the authorized bottler and distributor of The Coca-Cola Company since 1965. It is the leading non-alcoholic beverage manufacturer in Hong Kong which serves a wide range of beverages including “Coca-Cola”, “Sprite”, “Fanta”, “Schweppes”, “Bonaqua” Mineralized Water, “Aquarius”, “Minute Maid”, “Minute Maid Qoo”, “Authentic Tea House”, “fuze tea”, “HealthWorks”, ,”Yeung Gwong”,, and “Monster”. Apart from the products of The Coca-Cola Company, SCCHK also distributes “Nestea” tea drinks, “Nestle” ready-to-drink coffee and milk tea.

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Revolutionary limb saving procedure set to benefit patients with Chronic Limb-Threatening Ischemia, typically caused by Type 2 Diabetes

SINGAPORE – Media OutReach – 15 September 2023 – M&L Healthcare, in its first major MedTech investment, has announced that the U.S. Food and Drug Administration (FDA) has granted premarket approval (PMA) of the LimFlow System – a revolutionary therapy providing limb-saving treatment for patients with Chronic Limb-Threatening Ischemia (CLTI). The approval comes after successful outcomes in the PROMISE II Pivotal trial in the United States, recently published in the New England Journal of Medicine.

The LimFlow System for Transcatheter Arterialization of Deep Veins (TADV) is designed to re-establish blood flow in deep veins for “no-option” CLTI patients. It is the first and only FDA-approved device for TADV and provides no-option CLTI patients with access to a minimally invasive treatment.

Type 2 diabetes is a major cause of CLTI, a condition that affects millions of people globally. The United States alone witnesses approximately 150,000 ischemic amputations each year, resulting in healthcare costs of over US$95 billion. LimFlow’s therapy was developed to offer a limb-saving procedure to patients with incurable CLTI. The minimally invasive LimFlow is designed to bypass blocked arteries in the leg and deliver oxygenated blood back into the foot via the veins in CLTI patients who are facing major amputation and have exhausted all other therapeutic options. Given the high personal and social implications of amputation, as well as the alarming mortality rate of CLTI patients (approximately one in five amputees die within one year*), the availability of the LimFlow System marks a significant milestone.

Dr. Steven Kum, Chief Medical Officer for M&L Healthcare, and a Vascular Surgeon, shared his thoughts on this achievement:

“We are thrilled that the LimFlow System has received FDA approval for the LimFlow System this week. This breakthrough therapy has already achieved several significant milestones out of the work done in US, Europe and Singapore including the first-in-man procedure which was performed by the Vascular Team in Changi General Hospital Singapore. LimFlow has revolutionized the treatment of CLTI, aiding in wound healing and preventing debilitating amputations. It grants patients a second chance and potentially enhances their life span and quality of life. Considering Type 2 diabetes is the major cause of CLTI globally, the availability of LimFlow is crucial for improved patient outcomes.”

LimFlow overcame numerous hurdles, navigating the complexities of conducting clinical trials during the COVID-19 pandemic. Recognizing the significance of bringing this life-changing therapy to fruition, M&L Healthcare proactively provided the clinical support and necessary funds to mitigate the unexpected additional costs to ensure the clinical trial stayed on track.

Reflecting on the achievement, Ms. Jocelyn Kum, Executive Director of M&L Healthcare, expressed her confidence in M&L Healthcare’s capabilities as an investment partner, stating, “Our contribution to LimFlow’s success is a testament to the dedication and business acumen that M&L Healthcare brings to the table.”

“Statistics show that only 1% of MedTech devices cleared for the US market in 2021 were novel and required pre-market approval, with the rest cleared via the 510(k) pathway. M&L recognized the early clinical and investment value of LimFlow and established itself as a reliable partner, demonstrating the financial stability and determination required to support investments throughout the challenging journey to success.”[1]

The LimFlow journey to date

Established in Germany in September 2012, the LimFlow System was supported by Paris-based accelerator fund, MD Start I. By November 2012, LimFlow embarked on its first animal study under then-acting CEO, Mr. Tim Lenihan, a partner in MD Start I.

MD Start approached Dr Kum and together with CLTI expert Roberto Ferraresi, the team sought to develop a percutaneous procedure for Deep Venous Arterialization, leveraging their extensive clinical and engineering experience.

Dr. Kum played a critical role in the development of the LimFlow technology and procedure, performing one of many cadaver studies in Singapore. In July 2014, he performed the first-in-human trial in Singapore with the purpose built Crossing Catheters and Valvulotome and subsequently completed a seven-patient pilot study with a 100% technical success rate. The results of the pilot study were promising with all primary safety endpoints met. 6 of 7 patients had avoided major amputations at 6 months and their wounds healed by an average of 4 months.

In September 2014, LimFlow closed its Series A funding round, with M&L Healthcare as the lead investor. Now, a decade later, LimFlow stands apart as a game-changer in the field of medical technology. Having participated in all financing rounds since Series A, M&L Healthcare and Dr. Steven Kum have been integral to LimFlow’s successful journey, pioneering a life-changing solution for CLTI. Unlike many medical devices which optimize existing solutions, LimFlow has addressed a significant, unmet need in CLTI, an area historically considered as a graveyard for technological advancements.

What’s Next for LimFlow

In March 2023, a significant milestone was reached when LimFlow’s US pivotal trial results were published in the New England Journal of Medicine. The six-month outcomes exhibited a limb salvage rate of 76% where over three-quarters of participants kept their leg, avoided amputation, and experienced progressive wound healing LimFlow previously received Breakthrough Designation from the FDA and the results substantially surpassed the FDA’s performance target. This publication in the prestigious New England Journal of Medicine underscores the transformational potential of the LimFlow System for patients desperately in need.

LimFlow successfully obtained Conformitè Europëenne (CE) Mark in October 2016 and is currently available commercially in Europe. FDA pre-market approval on 11 September2023.

Building on these outstanding trial results and regulatory approvals in major markets, LimFlow is now gearing up for commercialisation in the US, the EU, and the UK, with plans for subsequent worldwide distribution.

For more information about LimFlow, visit www.limflow.com

Patient testimonies

Case study 1
Case study 2
Case study 3

Hashtag: #M&LHealthcare #LimFlow #MedTech #Diabetes

The issuer is solely responsible for the content of this announcement.

About M&L Healthcare

M&L Healthcare Investments is a wholly owned subsidiary of the Singapore-based Kum family, one of the pioneers in the Singapore shipping sector and a global investor in hospitality. Leveraging off over 40 years of business experience and entrepreneurial spirit spanning across several different sectors, M&L Healthcare aspires to be a leading life sciences company of the future.

Led by Executive Director, Ms Jocelyn Kum, and Chief Medical officer, Dr Steven Kum, M&L Healthcare made its first investment in LimFlow Medical Technology in 2014. M&L Healthcare Investments has since participated in various financing rounds with investments in Europe, United States and Asia Pacific valued in excess of US$150 million.

M&L Healthcare Investments is a subsidiary of the diversified M&L Group, which is valued at approximately US$2.5 billion. The group includes M&L Hospitality, M&L Shipping, and M&L Healthcare and Alternatives. With growing investments across various sectors, M&L Healthcare is poised to benefit from the group’s extensive international network and strong investment acumen. This positions M&L Healthcare for significant growth.

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SINGAPORE – Media OutReach – 15 September 2023 – The “Asian Games Letterbox” is an initiative, under the esteemed guidance of the 19th Asian Games Hangzhou 2022 Organising Committee (hereinafter referred to as “Hangzhou Asian Games Organising Committee”) and the Information Office of the Zhejiang Provincial Government; Phoenix Satellite Television and ifeng.com invite local communities across multiple nations and regions in Asia to handwrite messages of goodwill for the Asian Games personally. The inaugural stop commenced in Hong Kong on June 18th, drawing participation from tens of thousands of individuals, and sparking a significant surge of enthusiasm for the Asian Games Hangzhou 2022.

Less than two weeks before the opening of the 19th Asian Games Hangzhou 2022, a young participant in the “Asian Games Letterbox” Singapore stop wrote down her heartfelt wishes for the Games and the athletes, “I wish the Asian Games Hangzhou 2022 will be successfully organized, and every athlete will achieve triumph on the field.”

As the first Asian stop beyond China, back on July 22nd, H.E. Ms. Sun Haiyan, Chinese Ambassador to Singapore, attended the prelude sports meeting of the “Asian Games Letterbox” Singapore stop, lending her support to this vibrant celebration of the Asian Games Hangzhou 2022.

At present, the “Asian Games Letterboxes” strategically positioned at prominent locales in Singapore, such as Merlion Park, Esplanade – Theatres on the Bay, Clarke Quay, and Gardens by the Bay, have been officially unveiled, swiftly capturing the enthusiastic participation of local residents, overseas compatriots, and Chinese in Singapore.

Every individual who joins this event is adorned with smiles, as they inscribe their heartfelt aspirations and sincere sentiments for the upcoming Asian Games Hangzhou 2022 in both Chinese and English upon postcards. These well-wishes are then placed within the letterboxes, destined to be conveyed back to China.

Amidst the exquisitely designed letterheads adorned with heartfelt blessings, the “Global Insights” microphones were handed to passersby on the streets of Singapore. A local student from Hangzhou, presently enrolled at Nanyang Technological University, Singapore, expressed, “I am delighted to witness my hometown hosting the Asian Games Hangzhou 2022. I hope that through this Asian Games, more friends from different countries will get to know China and Hangzhou.”

Singapore is also brimming with anticipation for this Asian Games. It is reported that Singapore will dispatch its largest-ever delegation, consisting of a remarkable 431 athletes, to participate in the Asian Games Hangzhou 2022 across 32 different sporting disciplines. Of the 431 athletes, 336 athletes will be making their debut at the Asian Games, with the youngest being the 14-year-old synchronized swimmer, Li Jiaxuan, and the most senior participant being the 60-year-old Go player, Kang Zhanbin. This shows Singapore’s profound regard for the Asian Games Hangzhou 2022, and the local residents have conveyed their hopes for the event during interviews.

“The Asian Games Hangzhou 2022 will be an unparalleled celebration, and I hope Singaporean athletes will collaborate with their Chinese counterparts to staging wonderful games for the spectators on the field. While I may not have the opportunity to personally attend and cheer for the athletes at the event, I have already learned on the Internet what a beautiful city Hangzhou is. I hope that one day I can sit by the West Lake, taste the West Lake Fish in Vinegar Gravy, and drink Longjing tea.”

Just as the blessings and aspirations conveyed through the “Asian Games Letterbox”, athletes from various countries, traveling from afar, arrive in Hangzhou not only with a resolute determination to excel but also with a mission of fostering friendly exchanges. Likewise, the spectators from different places worldwide will shower these sportsmen and women with the most heartfelt applause.

The Asian Games Hangzhou 2022 is not just a mere sporting competition; it serves as a bridge that connects China with other nations through the medium of sports. People of different nationalities, ethnicities, and beliefs will be closely connected and united through this event, marching hand in hand towards a brighter future. Through the Asian Games Hangzhou 2022, the world will undoubtedly gain deeper insights into China’s future trajectory, and China, in turn, will contribute its strength to the future of Asia and the globe.

Hashtag: #AsianGamesLetterbox

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27 September 2023: rare photographic treasures of early NASA space travel from the Victor Martin-Malburet Collection in Dorotheum online auction

VIENNA, AUSTRIA – news aktuell – 15 September 2023 – In the online auction The Beauty of Space – Iconic Photographs of Early NASA Missions, which ends on 27 September 2023, the Austrian auction house Dorotheum offers around 200 historic photographs of the US space agency NASA, dating from the beginning of manned spaceflight in the early 1960s to the mid-1970s. A selection of vintage prints collected over a period of 25 years by French space historian and art collector Victor Martin-Malburet can be purchased at auction – with attractive opening prices, starting at 100 euros, and without reserve.

The colour and black-and-white photographs were originally taken for scientific purposes and most of them were kept under lock and key. The auction includes important visual treasures from the Golden Age of astronautics, such as the first space selfie, the first human-taken photograph of the Planet Earth, and the first human-taken photograph of the surface of another world. An absolute rarity, with an estimate between 15,000 and 25,000 euros, is the only photograph of the first man on the Moon (Neil Armstrong) taken by astronaut Buzz Aldrin during the first lunar landing of the APOLLO 11 mission in July 1969.

Parts of the Martin-Malburet Collection have already been exhibited in renowned museums worldwide, including the Grand Palais in Paris, the Kunsthaus in Zurich, the Museum der Moderne in Salzburg and the Louisiana Museum of Art in Denmark.

View online catalogue https://www.dorotheum.com/en/a/99412/

Hashtag: #Dorotheum #TheBeautyofSpace

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HKSTP joins “Think Business, Think Hong Kong” symposium in Paris to boost Hong Kong-French innovation and biotech ambitions

• HKSTP leads showcase of Hong Kong’s world-class biotech ecosystem as ideal platform to propel startups and big pharma to global scale and success.
• Asia Pacific is world’s fastest growing biotech region with a 16.9% compound annual growth rate from 2022 to 2030.
• “Think Business, Think Hong Kong” symposium to feature France’s Minister of Foreign Trade and Hong Kong’s Financial Secretary on 19 September at the Carrousel du Louvre in Paris.

HONG KONG SAR – Media OutReach – 14 September 2023 – Hong Kong Science and Technology Parks Corporation (HKSTP), will join the “Think Business, Think Hong Kong” symposium organised by Hong Kong Trade Development Council (HKTDC) on 19 September, at the Carrousel du Louvre in Paris.

Hong Kong’s largest innovation and technology (I&T) ecosystem and incubator, HKSTP, will lead a contingent of health and biotech leaders to outline how Hong Kong can help biotech start-ups and big pharma in France scale for success and tap into the huge potential of Asia’s healthcare markets. At the same time, French expertise and talent will also advance Hong Kong’s goal to become an international biotech and innovation technology hub.

Mr Olivier Becht, France’s Minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad and Mr Paul Chan, Financial Secretary of the HKSAR Government, will join a cast of business leaders at the event including Dr Peter Lam, Chairman of HKTDC, and Mr Albert Wong, CEO of HKSTP to discuss the collaboration potential between the French and the Hong Kong I&T ecosystems.

Asia Pacific is set to be the world’s fastest growing biotech region with a 16.9% compound annual growth rate from 2022 to 2030, according to Vision Research. The region is also seeing improving healthcare infrastructure, supportive government policies and an increasingly critical aging population challenge. Hong Kong is well located as the ideal hub to both the huge markets in North Asia and diverse fast-growing SE Asian economies.

Fast-rising biotech stars

To discuss these issues and opportunities, HKSTP is hosting a biotech thematic session and pavilion at the “Think Business, Think Hong Kong” symposium, with four leading executives from fast-rising Hong Kong-based biotech ventures showcasing the city’s ability to propel innovation to global success.

The four speakers and biotech companies include:

– Dr Ricky Chiu Yin-To, CEO, Co-founder, and lead inventor of Phase Scientific’s underlying diagnostic technology. Amongst his most successful products is OratectXP, the first FDA approved drug-of-abuse diagnostic that utilised oral fluid.

– Dr Yiyou Chen, Co-founder, Executive Director and Chief Scientist Officer of New Horizon Health. Chinese cancer screening pioneer New Horizon Health Limited, has gone IPO in Hong Kong in a mission to go global.

– Prof Roberto Bruzzone, a renowned cell biologist, recognised for his work on direct cell-cell communication through connexins and their associated human diseases. C2i is a vaccine and therapeutics partnership between global infectious diseases leader the Institut Pasteur and the University of Hong Kong.

– Prof Siew Chien Ng, a microbiology expert, Co-founder of GenieBiome, Professor of CUHK Faculty of Medicine, Director of Microbiota I-Center (MagIC). GenieBiome Limited (G-NiiB) is a pioneer in gut health and has launched the world’s first anti-viral gut microbiome formula.

Riding on the upward trajectory of record €13.49 billion funding in 2022, French startups are seeking further growth opportunities, while the French government also launched the Healthcare Innovation 2030 plan in 2021 with a budget of €7.5 billion with a goal to lead biotech innovation in Europe.

“The next potential step for French biotech is to scale up and go global. Asia offers diverse opportunities with Hong Kong the ideal launchpad for French biotech as an engine of funding, partnerships and talent to translate and scale medical innovations to global success. French biotech domain knowledge and innovation will also be a vital boost to Hong Kong’s ambition to become an international innovation hub,” said Mr Albert Wong, CEO of HKSTP.

Ecosystem completeness

Hong Kong is Asia’s leading and the world’s second largest biotech funding hub with Hong Stock Exchange’s biotech-friendly Chapter 18A listing policy, while also ranked 12^th in the World Index of Healthcare Innovation, above the likes of the United Kingdom and Canada. The government has also funded the InnoHK initiative with 14 research clusters dedicated to biomedical and health tech, located at Hong Kong Science Park.

HKSTP has built a thriving fully integrated biotech ecosystem that can support ventures through every step of the startup to scale-up journey. Today HKSTP features around 250 biotech ventures supercharged by incubation programmes such as the dedicated Incu-Bio programme, plus attractive subsidies and supportive government policies. World class talent is abundant with Hong Kong’s five top-100 universities as ranked by the Times, plus China’s projected annual output of 77,000 STEM PhDs per year by 2025, compared to 40,000 in the US, as estimated by the Center for Security and Emerging Technology.

HKSTP has forged powerful connections with global pharmaceutical leaders such as Roche, Merck, Boehringer Ingelheim and Shanghai Pharmaceutical, as well as government, public and private hospitals and healthcare institutions. These partnerships support all parties in the ecosystem to expand into the Greater Bay Area (GBA), China, Asia Pacific and global markets.

Hong Kong already features a strong French contingent and community with a total of 800 French businesses, including 373 subsidiaries and 92 regional headquarters based in Hong Kong, according to the French Embassy. Interested parties can join the HKTSP biotech pavilion and the hear from biotech innovation leaders as well as other innovation ecosystem experts at the “Think Business Think Hong Kong” symposium.

Register now: https://thinkbusinessthinkhk-2023.site.digitevent.com/en/

Learn more: https://thinkbusinessthinkhk.com/2023-paris/symposium/en/event-details/programme.html

Hashtag: #HongKongScienceandTechnologParks

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Tony Su, Managing Director, National Head of Industrial & Logistics Property Services, China, Cushman & Wakefield, said: “Overall logistics market leasing demand remained stable in H1 2023. In terms of logistics leasing demand by sector, the manufacturing and consumer sectors contributed much to take up. E-commerce and third-party logistics enterprises remain the main tenants within the premium warehouse leasing market.”

Jiangsu, Guangdong and Zhejiang were the top three locations for total stock in H1, with each market also slated for a large volume of scheduled future supply in the next two years, which will bring some leasing pressure. But due to the well-developed regional industry and strong demand for premium logistics warehouses, new projects will be effectively leased. With the tight supply of warehousing land, the premium logistics warehouse market is expected to exhibit a positive development trend during the long term.

Mainland China Logistics Market

• The total stock of premium logistics warehouse space in mainland China reached 114 million sq m in H1 2023.
• Approximately 5.02 million sq m of new supply entered the mainland China logistics market in H1.
• The overall vacancy rate increased 1.4 percentage points from Q4 2022 to 16.5%.
• Overall average rents rose 0.8% from Q4 2022 to RMB33.8 per sq m per month.
• Ahead, an additional 37.98 million sq m of new supply is scheduled for completion by the end of 2025.

North China Logistics Overview
The premium warehouse market in North China recorded several new projects completing in H1, totaling approximately 1.56 million sq m of new space. Average monthly rent increased 0.5% from Q4 2022 to reach RMB30.5 per sq m. The vacancy rate for premium warehouses rose 0.6 percentage points to 19.3%.

East China Logistics Overview
The East China premium warehouse market performance was stable in H1. Compared with Q4 2022, overall average monthly rent rose 0.8% to reach RMB38.5 per sq m. The overall warehouse vacancy rate rose 3.5 percentage points to 15.3%. The e-commerce, 3PL and express delivery sectors remained the main tenants in the East China premium warehouse market.

South China & Central China Logistics Overview
The South China premium warehouse market experienced strong demand in H1. South China recorded 0.8 million sq m of new supply in H1. Compared with Q4 2022, the overall vacancy rate dropped 1.1 percentage points to 9.4% while the average monthly rent rose 1.6% to reach RMB40.4 per sq m. The Central China premium warehouse market remained relatively stable. Compared with Q4 2022, the overall vacancy rate dropped 0.3 percentage points to record 18.9%. Average monthly rent decreased slightly by 0.7% to RMB26.4 per sq m.

Southwest China Logistics Overview
Demand for premium warehouse space in Chongqing was stable, with the e-commerce, 3PL and manufacturing sectors being the key drivers. The average monthly rent rose slightly to reach RMB24.4 per sq m. Southwest China recorded 0.12 million sq m of new supply in H1. Compared with Q4 2022, the overall vacancy rate increased 1.8 percentage points to reach 20.4%. The average monthly rent rose 0.2% to reach RMB26.5 per sq m.

Hong Kong, China Logistics Overview
Hong Kong’s total stock of premium logistics space remained at 31.2 million sq ft (2.90 million sq m) in H1, with no new supply recorded in the period. A mega-project totaling 4.1 million sq ft (0.38 million sq m) near the Hong Kong International Airport is expected to enter the market in H2 2023. Ahead, a new warehouse project is expected to be completed in Kwai Chung (New Territories) by 2027. Jointly developed by ESR and Chinachem, the project is expected to span 1.5 million sq ft (0.14 million sq m). The overall vacancy rate remained stable at 3.4%, while monthly rents increased mildly by 0.5% in H1 2023 to HK$14.4 per sq ft.

Taiwan, China Logistics Overview
Total premium logistics stock increased to approximately 989,000 pings (3.27 million sq m).
Incoming supply is expected to add 186,000 pings (615,000 sq m) of stock by the close of 2025, an increase of approximately 18.8%. Around 78% of stock is concentrated in Taoyuan City, close to Taoyuan International Airport. The average monthly rental level remained at approximately NT$650–750 per ping.

Shaun Brodie, Head of Business Development Services, East China & Greater China Research Content, Head of Greater China Occupier Research, Cushman & Wakefield, added: “Ahead, we expect the government and landlords to favor tenants with higher business efficiency and production volume. With the change in consumers’ consumption preferences and, subsequently, the demand structure, the development of the semi-prepared food market will further promote expansion in the cold chain logistics and storage market. The development of comprehensive cold chain parks, integrating production, storage, display, and sales functions, will become an emerging market trend.”

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.

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