Traditional Chinese Medicine (CM) plays a crucial role in Hong Kong’s healthcare system. To grasp the enormous opportunities brought by the Greater Bay Area (GBA), the Policy Research Centre for Innovation and Technology and the PolyU Research Centre for Chinese Medicine Innovation have jointly released the Policy Paper on University-Industry Collaboration for CM Innovation in the Greater Bay Area, outlining to policymakers recommendations for capturing the opportunities arising from the dynamic consumer market and talent pool in the region, in order to foster development and innovation in the CM industry.

Key recommendations include:

• Enhancing Hong Kong CM research and development ecosystem by expanding funding opportunities, promoting academia-industry collaboration, and establishing new research centres focused on CM efficacy and safety.

• Promoting internationalisation of CM by accelerating regulatory approval and certification mechanisms for Chinese proprietary medicine across GBA cities and aligning CM standards with international norms.

• Promoting commercialisation and innovation of CM health maintenance products by establishing a blockchain platform for cross-border CM projects so as to capture rising consumer demand.

• Constructing a bio-digital product innovation hub to support the adoption of new technologies, such as sensors, the internet-of-things and artificial intelligence in CM diagnosis, treatment and monitoring.

Please click here for the full report.