Background

With its demonstrated efficacy, natural origin and fewer side effects, Chinese medicine (CM) is increasingly accepted as a form of alternative medicine in the western world. Given its proximity to the richest pool of CM resources in the Mainland, state-of-the-art research infrastructures and prominence in biomedical research with international recognition, Hong Kong is well-positioned to capitalize on these strategic advantages. In addition, CM products manufactured in Hong Kong have widely won consumer confidence as a guarantee for quality and reliability. It is estimated that local CM manufacturers produce about 500 types of proprietary CM, mainly for export to the Mainland, Southeast Asia and North America.

In his 1998 Policy Address, the Chief Executive set forth his vision of promoting the development of CM in Hong Kong. A statutory body and framework have since been established to accord legal recognition of CM and to regulate the practice, use and trading of CM. With a donation of HK$500 million for CM research by the Hong Kong Jockey Club, the Hong Kong Jockey Club Institute of Chinese Medicine (HKJCICM) was set up in 2001 to transform CM into a high-valued industry by modernization of CM using scientific and evidence-based approaches. With effect from 2004, Chinese medicaments made in Hong Kong enjoy tariff-free access to the Mainland under CEPA. The free trade pact has become a major catalyst in attracting trade and manufacturing investment in CM.

Although the global market for herbal medicines stands at over US$60 billion a year and is growing steadily, CM products from the Mainland and Hong Kong occupy only a meager percentage of the international herbal medicine market share. Modernization of CM to meet internationally accepted standard for safety, quality and efficacy would facilitate CM products competing in the European and US healthcare markets which are the largest in the world.

Recent Development

Under the new strategy of innovation and technology development, R&D related to CM will be subsumed under the HKJCICM, a subsidiary of the Applied Science and Technology Research Institute. The HKJCICM is well positioned to act as a focal point to coordinate R&D in the CM areas under its existing operation infrastructure. Futher details can be found here.