HONG KONG SAR – Media OutReach – 21 January 2023 – On 17 January 2023, GenScript ProBio announced its Series C round of financing of nearly USD220 million, led by Legend Capital, which marks the largest scale in the CDMO sector in China since the second half of 2022. Several active healthcare investment institutions also participated in this round. The parent company, Genscript Biotech Corporation, also invested approximately USD30 million in this round.
The fund will help GenScript ProBio accelerate its manufacture capacity expansion and technology platform upgrading, enlarge footprint in the global market, strengthen quality and management system, deepen interaction with the broader healthcare ecosystem resources behind active investors, all of which will enable GenScript ProBio to enhance its leading position in the biologics and CGT (cell and gene therapy) CDMO space and become a top tier player on the global arena.
GenScript ProBio, a subsidiary of GenScript Biotech Corporation, offers end-to-end biologics and CGT CDMO services based on its extensive experiences in drug discovery, process development and GMP manufacture. Since its inception, GenScript ProBio has undertaken more than 80 CMC and CMO projects worldwide in the biologics CDMO field, and helped its clients obtain more than 20 global IND approvals. As one of the earliest players in the field of CGT CDMO, GenScript ProBio has participated in over 60 CMC projects worldwide and over 20 IND filings. With strong technical strength, solid performance and an experienced team, GenScript ProBio has become one of the most influential CDMO service providers.
Jafar Wang, Co-Chief Investment Officer of Legend Capital, said, “We are highly optimistic about the global competitiveness of Chinese CRO/CDMO players. Even in a complex international environment, China’s leading CRO/CDMO companies still have the opportunity to provide quality services to international customers and win significant market share. As an outstanding representative of China’s biologics and CGT CDMO players, GenScript ProBio has achieved rapid growth in the past three years and won the extensive trust of customers at home and abroad. Looking forward, GenScript ProBio’s technology accumulation, famous brand, global clientele, rich talent pool, comprehensive management system and strong financing ability will bring the company further to win stronger international influence. Legend Capital has more than 140 portfolios in the healthcare sector, and has established an ecosystem covering the whole value chain of biopharmaceutical industry, with plenty of cases and extensive experience in management best-practice sharing. We look forward to becoming a shareholder of ProBio who can create value, generate collaboration opportunities and growth together!”
Weihui Shao, the rotating CEO of GenScript Biotech Corporation, said, “GenScript ProBio has been growing rapidly, helping pharmaceutical and biotech companies around the globe to progress their pipelines, and attracting top-tier healthcare investors. Highly-efficient business planning and execution, comprehensive management system and solid talent base are the three driving forces for the sustainable growth of GenScript Biotech Corporation and GenScript ProBio. At the same time, given the increasingly strong innovation atmosphere in the biotech field, GenScript Biotech Corporation and GenScript ProBio will continue to stimulate innovation and create enterprise vitality. Through this round of financing, GenScript ProBio will be better positioned to participate in the commercialization process of global biologics and gene and cell therapy, and make a great contribution to the healthcare industry. GenScript Biotech Corporation will also adhere to the mission of ‘Make Human and Nature Healthier Through Biotechnology’, commit to promote business development, and contribute to the sustainable development of the healthcare industry and human society.”
Jiange Meng, Chairman of GenScript Biotech Corporation, said, “In the post-pandemic world where the investment environment is complex and volatile, we are glad to see that GenScript ProBio has attracted many top-tier investors. GenScript ProBio is a subsidiary newly incubated by GenScript Biotech Corporation. With the mission of ‘Innovation through Collaboration’, we have helped many biopharma and biotech companies to reduce R&D expenses and accelerate the product development processes. We will take this opportunity to further focus on the construction and optimization of the one-stop R&D and manufacture platform for biologics and gene and cell therapy, so as to make GenScript ProBio a stronger player in the new chapter of the industry.”
Hashtag: #LegendCapital #GenScriptProBio
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About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
CHATTOGRAM, BANGLADESH – Media OutReach – 21 January 2023 – After a hiatus of three years as a result of Covid-19, over 1500 people — graduating students from the Classes of 2020, 2021 and 2022, faculty and staff, and guests from home and abroad will gather in an open air pavilion at the permanent campus site of the Asian University for Women (AUW) in Chittagong’s Baizid Area to celebrate its Tenth Commencement. Flags of all 19 nations from which AUW draws its students will adorn the pathway to the pavilion and segments of the national anthem of each will be sung by the AUW Choir in a symbolic call for unity. The ceremony will be held within a hundred meters of where the new Campus Center building, designed by eminent architect Moshe Safdie, is going up in construction.
John Sexton
Four Hundred and Eighty Six students hailing from Afghanistan; Bangladesh; Bhutan; Cambodia; the People’s Republic of China; Indonesia; Myanmar; Nepal; Pakistan; Palestine; Senegal; Sri Lanka; Syria; and Vietnam will be conferred their undergraduate degrees. Vice Chancellor Dr. Rubana Huq will lead the conferrals.
The Commencement Ceremony, presided over by Chancellor Cherie Blair, international human rights lawyer and wife of former British Prime Minister Tony Blair and the Chairman of the Board of Trustees Dr. Dipu Moni (who is also Bangladesh’s Education Minister), will confer a Doctor of Humane Letters, honoris causa, to Professor John Edward Sexton, President Emeritus of New York University (NYU) and former dean of NYU Law School in recognition of his extraordinary contributions to global higher education as the architect, champion and maker of NYU’s Global Network which saw new NYU campuses built in Abu Dhabi and Shanghai and other centers spanning the world.
Professor Sunil Amrith, Renu and Anand Dhawan Professor of History at Yale University in the United States and Professor Rupa Viswanath, Professor of Indian Religions at the University of Gottingen in Germany will be inducted as Distinguished Honorary Professors.
AUW will also announce a number of new milestone initiatives during the course of the Commencement:
HSBC-AUW School of Apparel & Retail Management. Funded by philanthropic support from the Hong Kong Shanghai Banking Corporation – HSBC, the new HSBC-AUW School of Apparel & Retail Management will offer a one year Master of Science in Apparel and Retail Management. Guided by a Global Academic Committee chaired by Dr. Dipak Jain, former Dean of the Kellogg School of Management at Northwestern University (who also served as Dean of INSEAD in Fontainbleau, France), this new Masters Program will prepare young female professionals with expertise in fashion, merchandising, supply chain management, brand management, and occupational health and safety issues. It is intended to help the burgeoning ready made garments (RMG) industry induct more female talent in management roles. This new initiative builds on an ongoing program at AUW, originally created with funding from the Ikea Foundation, to academically prepare and induct talented RMG workers to pursue their undergraduate studies at AUW.
Dalit Education & Empowerment Program. AUW has committed to begin a decade-long special initiative to support the education and empowerment of 600 young women from Dalit families from across South Asia.
New Majors in (i) Humanities and (ii) Computer Sciences. In the autumn of 2023, AUW will introduce two new undergraduate majors. The Humanities major will encompass study of Literature, History, Religion and Philosophy. The Computer Sciences major will follow the curricular structure and content from the leading undergraduate computer sciences programs and will be taught in a hybrid form with participation of resident and non-resident faculty.
Mariam Mirzakhani Chair in Mathematics. AUW will establish an endowed chair in mathematics named after Mariam Mirzakhani, the Iranian mathematician educated in Sharif University in Iran and at Harvard University in the United States, who went on to win the Fields Medal prior to her untimely death from cancer.
The Commencement proceedings will be followed by a two-day international conference on Can Universities Shape Society? Reflections, Ideas, and Dreams. The conference is dedicated to honor the memory of Mahsa Amini, the 22-year old Iranian woman who was murdered while in the custody of State authorities in the Islamic Republic of Iran on Seotember 22 2022 after being arrested by its Morality Police on the ground of her lacking adequate hijab. We hope that by dedicating the conference to Mahsa Amini more people will be inspired to fight the unbearable injustice of unequal treatment of women anywhere. Woman, Life, Freedom!
The issuer is solely responsible for the content of this announcement.
About Asian University for Women (AUW):
Founded in 2008 and located in Chattogram, Bangladesh, AUW is the first of its kind: a regional institution dedicated to women’s education and leadership development through liberal arts and sciences education. It is international in outlook but rooted in the contexts and aspirations of the people of Asia. Chartered by the Parliament of Bangladesh, AUW exists solely to support a rising network of women leaders, entrepreneurs, and changemakers from across the region. It seeks out women who show significant academic achievement and potential, demonstrate courage and a sense of outrage at injustice, and are empathic to the woes of other people.
1322 students from 18 countries currently attend AUW: Afghanistan, Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Lao PDR, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Syria, Timor Leste, Vietnam, and Yemen. More than 85% of AUW students are on full or near-full scholarships funded by supporters from around the world. The University has graduated over a thousand students to date. A majority of AUW graduates secure employment in the private and public sectors in their home countries while about 25% go on to pursue graduate studies at other institutions of higher learning including Oxford, Cambridge, Johns Hopkins, Stanford, Columbia, Duke, Brandeis and Tufts, among others. To learn more about Asian University for Women, please visithttps://asian-university.org.
HONG KONG SAR – Media OutReach – 20 January 2022 – ST Design will cooperate with a technology solution developer in early 2023 to plan the research and development process for a cutting-edge project tracking system. Its operation will be beneficial for all parties involved including interior design companies, contractors and customers by streamlining the progress monitoring across computers and mobile devices simultaneously. The system is expected to support multimedia uploads ranging from text, images, voice recordings and videos. An in-build messenger will also be made available for all stakeholders to promptly communicate with each other, fostering transparent communication along the line.
ST Design witnesses outstanding performance in sales despite the recent economic downturn. More than 200 projects were completed over the past year. More than 85% of customers are satisfied with his service, and 90% of the projects were completed within 3.5 months. In order to keep up with the digitalization buzz in the market, Mr. Leung came up with the idea of video shootings as a promotional tactic. He uploaded over a hundred videos to his Youtube channel over the last two years, receiving 650,000 views thus far, contributing to a 1000% increase for ST Design’s sales figures.
In addition to running a Youtube channel, ST Design business model is one of the key contributors to business triumph. The interior design company offering one single contractor to oversee the entire renovation project is often considered as the market norm. ST Design on the other hand, provides a project manager for assistance as to avoid miscommunication. A complaint mechanism is also in place to cater any reported complaints. Customers can directly contact the project manager, leading to a much effective communication exchange. ST Design doesn’t adopt a low-cost strategy. On the contrary, ST Design believes that a growth mindset, life-long learning and qualifications obtained along the way are more than enough to maintain a strong market profile and to avoid quality of deliverables sacrificed for price.
Mr. Leung predicts the interior design industry will increasingly acknowledge the importance of professionalism in the future, coupled with tougher requirements for license applications. It will not be as easy as before to enter the industry or start a company from scratch. Additionally, customers are becoming increasingly wary of renovation companies and will only entrust their home to contractors who are deemed credible. Looking ahead, Mr. Leung imagines the only plausible strategy that a company could put to work is nothing but a strong positive reputation. He hopes the progress tracking system could help ST Design retain the trust of its customers with an uplift in communication effectiveness, while injecting innovations and facilitating reforms in the interior design industry.
Hashtag: #STDesign
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SHENZHEN, CHINA – Media Outreach – 20 January 2023 – The year 2022 marked the 10th anniversary of President Xi Jinping’s first inspection tour to Qianhai and the first anniversary of the official issuance of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the “Qianhai Plan”) by the Central Committee of the Communist Party of China and the State Council. Committed to its mission of “relying on Hong Kong, serving the Mainland and opening up to the world”, Qianhai has expedited the creation of an innovative pilot platform for deepening reform in an effort to become an exceptional hub for opening up. Coupled with its robust development trend, Qianhai exemplifies the characteristics of China’s path to modernization.
Qianhai is committed to its mission of “relying on Hong Kong, serving the Mainland and opening up to the world”.
There were ten major events that marked the extensive reform and opening up of Qianhai in 2022:
I. Reform and opening-up were proven successful with the Qianhai Plan fully implemented by national ministries and state council committees, Guangdong Province and Shenzhen
Over the past year, the Shenzhen Municipal Committee and the Shenzhen Municipal Government have made every effort to promote the reform and opening up of Qianhai. As over 40% of the 72 key tasks set out in the Qianhai Plan were completed and the rest of the tasks recorded substantial progress, the development of Qianhai was proven successful and robust.
II. “Nine Measures Favorable to Hong Kong Companies” were launched to facilitate closer cooperation between Shenzhen and Hong Kong
On June 27, 2022, in celebration of the 25th anniversary of the Hong Kong Special Administrative Region, Qianhai launched “Nine Measures Favorable to Hong Kong Companies”, which provide development opportunities and quality services for Hong Kong enterprises and individuals in nine aspects, namely housing, entrepreneurship, public service, employment, development platform, technological innovation, finance, settlement and well-being.
III. Qianhai ranked first among free trade zones in China in the institutional innovation index, further highlighting its position as a business cluster of reforms and innovations
On July 22, 2022, Sun Yat-sen University released the “2021-2022 China Pilot Free Trade Zone Institutional Innovation Index”, in which Qianhai continued to rank first. Throughout the year, 80 out of 765 institutional innovation achievements of Qianhai in total were recorded. Among these achievements, seven were adopted and promoted nationwide, bringing the total number to 72. As such, Qianhai has become a business cluster of reforms and innovations in the new era.
IV. Release of the Qianhai Global Service Provider Campaign enhanced the level of opening up
To accelerate the development of a new high-quality and efficient service industry system and build an important producer services center in the Asia-Pacific region, Qianhai released the Qianhai Global Service Provider Campaign on November 8, 2022. This campaign aims to attract and nurture the top 50 global and top 20 domestic service providers in eight key segments, namely modern finance, trade and logistics, information, technology, culture and creativity, commerce, shipping and public services. It is planned to introduce and cultivate more than 300 global modern service providers by 2025, and the added value of the modern service industry is expected to be RMB100 billion or above. Capitalizing on these advantages, Qianhai aspires to become a global service provider cluster which features the world’s top 500 corporate headquarters, competitive enterprises of specific business segments as well as specialised, sophisticated, distinctive and innovative “small giants”.
V. Breakthrough in management system reform and extensive coverage of supporting policies were achieved
In March 2022, the Shenzhen Municipal Committee and the Shenzhen Municipal Government issued a plan to optimize the management system of the Qianhai cooperation zone. Based on the plan, the management powers of the Qianhai Authority, the government of the administrative zone and relevant units directly under the Shenzhen Municipal Government in the Qianhai cooperation zone are more clearly defined. This moderate separation of powers between the administrative zone and the economic zone marked a substantial breakthrough in the reform of the management system.
Qianhai intensively introduced more than 10 policies in finance, trade and logistics, professional services, legal area, think tank development, technological innovation and headquarters economy. Enterprises within an area of 120.56 square kilometers are entitled to the relevant support. These policies have enabled not only the geographical expansion of the cooperation zone, but also the extension of its policy and service coverage.
VI. Shenzhen and Hong Kong jointly released favourable financial policies for the first time to accelerate the opening up of the financial industry
On September 2, 2022, Shenzhen and Hong Kong jointly released 18 policies in support of venture capital investments, marking the unprecedented joint issuance of policies by the two cities. The issuance, which has paved a new way for deepening the financial cooperation between Shenzhen and Hong Kong, was highly recognized by the Government of the Hong Kong Special Administrative Region and the industry.
Institutions which have set up bases in Qianhai included the first financial holding company in the Greater Bay Area (China Merchants Financial Holdings), the first wholly foreign-owned fund sales company in the Greater Bay Area (UBS Fund Distribution), the first “dual-licensed” bank branch in China (Shenzhen branch of Dah Sing Bank) and Standard Chartered private equity fund (QFLP). Approximately 30% of the 236 institutions settling in the Qianhai Shenzhen-Hong Kong International Financial City were Hong Kong and foreign-invested companies.
VII. Qianhai Shenzhen-Hong Kong International Legal-services District was officially inaugurated, marking a breakthrough in the convergence of rules applicable to cross-border commercial laws
On January 4, 2022, the Qianhai Shenzhen-Hong Kong International Legal-services District (the “Legal-services District”) was officially inaugurated. Joint efforts between Qianhai and Hong Kong were made to create an international legal service center and an international commercial dispute resolution center for the Legal-services District. National legal platforms established in the Legal-services District included the First Circuit Court of the Supreme People’s Court (the First International Commercial Court). The GBA International Arbitration Center was also set up, with its arbitrators coming from 114 countries and regions worldwide. In addition, 32 jurors from Hong Kong and 12 mediators from Hong Kong and Macao have been selected by the Qianhai court, which ranked first among the primary courts in China in accepting foreign, Hong Kong, Macao and Taiwan-related cases. Encompassing 154 legal service institutions in six service categories, such as judicial, arbitration, mediation and legal services, the Legal-services District has attracted 72 lawyers from Hong Kong and Macao to practice in Qianhai.
VIII. Qianhai was selected as the Demonstration Zone of National Import Trade Promotion and Innovation with high-quality trade performance
In November 2022, the Qianhai-Shekou Free Trade Zone was selected as the “Demonstration Zone of National Import Trade Promotion and Innovation” by the Ministry of Commerce, the National Development and Reform Commission and 6 other ministries. With the increasing importance of its four major roles in promoting imports, serving the industry, enhancing consumption and leading by example, the free trade zone will take its international free trade practices and convenience to the next level.
China’s first off-airport cargo screening station has been launched, completing the whole process of air cargo between Shenzhen Airport and Qianhai Comprehensive Bonded Zone. The Cross-border Trade Big Data Platform, which is the only local pilot program authorized by the General Administration of Customs, has finished the first stage of scenario development, such as consignment trade and shipping schedule analysis. Moreover, the Greater Bay Area Composite Ports Project was selected as one of China’s first business environment pilot reform projects and cross-border trade efficiency enhancement projects. In 2022, the total import and export volume of Qianhai Comprehensive Bonded Zone reached a record high of over RMB230 billion, representing a year-on-year increase of nearly 50%. Its output value per unit area also ranked first in the country. The import and export volume of Shenzhen Airport Bonded Logistics Center exceeded RMB18 billion, ranking first among 85 bonded logistics centers in China.
IX. Annual transaction volume of Qianhai Mercantile Exchange (“QME”) recorded a year-on-year increase of 145%, realizing the concept of introducing financial products to and from the global market
QME, which was initiated by Hong Kong Exchanges and Clearing Limited, maintained its steady development momentum and recorded growth despite adverse market conditions. In 2022, its spot transaction volume was RMB79.35 billion, representing a significant year-on-year increase of 145%.
As a composite commodities spot trading platform covering basic metals, energy, construction materials and agricultural products, QME entered into one of the first online cross-border transactions based on spot trading of soybean on April 29, 2022. In addition, QME completed cross-border payment and settlement of commodities transactions through Cross-border Interbank Payment System (“CIPS”), a system for settling cross-border Renminbi payments, for the first time with the support of the People’s Bank of China and cross-border clearing companies.
X. Land use planning of Qianhai enabled the commencement of a number of major projects and the accelerated construction of a new city center
Qianhai enjoys a wider space, more resources and stronger development momentum after the expansion of the cooperation zone. It has also expedited its land use planning, restructured layout, optimized resources allocation and further stepped up the consistent planning of its newly enlarged area.
Throughout the year, Qianhai has made significant progress in strengthening its infrastructure network. The Shenzhen-Huizhou Intercity Railway, the Shenzhen Airport-Daya Bay Intercity Railway and the Qianhuang section of the Guangzhou-Dongguan-Shenzhen Intercity Railway commenced construction; the two-way tunnel of the Guimiao Road renovation project (phase 1) was opened to traffic; projects such as the Mawan Cross-sea Passage and the Shenzhen-Zhongshan Corridor were expedited; and the first stage study of the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu – Qianhai) was completed, aligning with the development strategy of the Northern Metropolis of Hong Kong. Also included in the planning is the establishment of Qianhai Stone Park and Shenzhen-Hong Kong Plaza, which will create a 68-kilometer vibrant golden coastline for Qianhai. Hashtag: #ShenzhenQianhaiAuthority #QianhaiCooperationZone #QianhaiOpportunity #QianhaiPlan
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HONG KONG SAR – Media OutReach – 20 January 2023 – Following the re-opening of the borders between Hong Kong and Mainland China, the frequent interaction between Shenzhen and Hong Kong will resume and deepen in the future. For over a year since the issuance of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the “Qianhai Plan”) by the State Council on September 6, 2021, Qianhai has been tasked with two main initiatives, namely the expansion of the cooperation zone and the deepening of reform and opening up. Covering various aspects and key projects, these initiatives have been proven successful with the close cooperation between Shenzhen and Hong Kong. In order to provide an update on the Qianhai Plan for the first year since its issuance, and introduce the latest policies and development opportunities of Qianhai, the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality (the “Qianhai Authority”) specially oragnized the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Promotion Conference with the theme of “Shenzhen and Hong Kong Join Hands to Win the Future” at the Hong Kong Conference and Exhibition Centre on 12 Jan 2023.
Group photo of major guests
This grand event was the first large-scale promotion conference organized by the Qianhai Authority in Hong Kong after the re-opening of the borders, with the attendance of more than 300 guests.
Political and business leaders from Shenzhen and Hong Kong gathered at the promotion conference, including Zeng Pai, Member of the Standing Committee of the Shenzhen Municipal Committee, Director General of the Qianhai Authority and Secretary of Nanshan District Committee; Erick Tsang Kwok-wai, Secretary for Constitutional and Mainland Affairs of the Government of the Hong Kong Special Administrative Region; Xu Weigang, Director General of the Economic Department of the Liaison Office of the Central People’s Government in the Hong Kong S.A.R.; Jiang Likun, First Deputy Director General of the Greater Bay Area Office of the Shenzhen Municipal Committee (Hong Kong and Macao Affairs Office of Shenzhen); Huang Xiaopeng, First Deputy Director General of the Qianhai Authority; Jian Zheng, Deputy Director General of the Commerce Bureau of Shenzhen Municipality; Wen Ping and Guo Xiaoyang, Deputy Directors General of the Qianhai Authority; Li Xiaoning, First Deputy District Mayor of Nanshan District; and Li Wei, Member of the Standing Committee of Nanshan District Committee.
Zeng Pai, Member of the Standing Committee of the Shenzhen Municipal Committee, Director General of the Qianhai Authority and Secretary of Nanshan District Committee, pointed out in his speech at the conference that the recent orderly re-opening of the borders between Shenzhen and Hong Kong would enable the two cities to join hands in the future for capturing opportunities arising from, and taking the lead in, the latest global development. Committed to its mission of “relying on Hong Kong, serving the Mainland and opening up to the world”, Qianhai will strive to collaborate with and serve its Hong Kong counterparts in most competitive sectors of the Hong Kong modern service industries, such as finance, legal service, trade and logistics. Efforts will be made to improve the cooperation mechanism and optimize policies and systems favorable to Hong Kong. As part of the Qianhai Global Service Provider Campaign, a familiar business and living environment will be created for Hong Kong people and enterprises in Qianhai so that they can fully capitalize on the advantages of the two cities for a win-win future.
Erick Tsang Kwok-wai, Secretary for Constitutional and Mainland Affairs of the Government of the Hong Kong Special Administrative Region, stated in his speech that Qianhai is one of the most important cooperation platforms in the Guangdong-Hong Kong-Macao Greater Bay Area (the “Greater Bay Area”). Over the past few years, the governments of Hong Kong and Shenzhen have done a lot of work for the Hong Kong professional sectors to tap into the Qianhai market. A series of measures have also been launched, including tax concessions, settlement support funds, as well as the further opening-up initiatives for professional services. These measures have been well received by the relevant sectors in Hong Kong as they enabled qualified professionals from Hong Kong with construction, engineering and legal expertise to practice and provide services in Qianhai and even the Greater Bay Area through the existing mechanism. With the implementation of the mechanism for wholly owned Hong Kong enterprises (“WOKEs”) to adopt Hong Kong law in Qianhai, WOKEs registered in Hong Kong are allowed to opt for laws of Hong Kong as the applicable law in their civil and commercial contracts, bringing more convenience and opportunities for Hong Kong people and enterprises developing in Qianhai.
During the conference, Huang Xiaopeng, First Deputy Director General of the Qianhai Authority, introduced the new development and opportunities of Qianhai over the past year since the issuance of the Qianhai Plan.
First, Qianhai has been well positioned for development. Apart from its prime location, vast land resources and convenient transport, it also boasts abundant natural resources and promising development potential. Situated at the heart of the Greater Bay Area, it is within one-hour travel distance from Guangzhou, Macao and Hong Kong given its well-equipped railway network and land, sea and air transportation, featuring an international airport and six ports open to the world.
Second, cooperation between Shenzhen and Hong Kong has been close. From January to November 2022, the actual use of Hong Kong capital in Qianhai, where the number of WOKEs was nearly ten thousand, amounted to US$4.907 billion, accounting for 55.3% of the total investment in Shenzhen. Eighteen categories of professionals, such as architects registered in Hong Kong and tourist guides from Hong Kong and Macao, may practice in Qianhai immediately upon filing required documents. In the 2022 “Hong Kong and Macao Youth Employment Plan”, 3,530 jobs were offered. There were nearly 700 participants from Hong Kong, Macao and Taiwan in the 2022 Qianhai-Guangdong-Hong Kong-Macao-Taiwan Youth Innovation and Entrepreneurship Competition. The Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub, measuring an area of 139,000 sq.m., provided incubation support to an aggregate of 378 Hong Kong start-up teams with a total financing amount of over RMB2.9 billion. These achievements have turned Qianhai into an area that has the strongest cooperation with Hong Kong.
Third, an exceptional legal environment has been created in Qianhai based on the principle of the rule of law. Qianhai has been fostering a legal and business environment similar to, and compatible with, that of Hong Kong. Hong Kong, Macao, Taiwan and foreign-invested enterprises registered in Qianhai may agree on the choice of applicable laws with the counterparties to resolve disputes over business contracts. The Qianhai court was ranked first among the primary courts in China in accepting foreign, Hong Kong, Macao and Taiwan-related commercial cases, and in applying Hong Kong law to try cases. Upon the establishment of the First Circuit Court of the Supreme People’s Court and the Shenzhen Court of International Arbitration in Qianhai, the judicial model combining the final judgment and the final award from the respective courts has been formed.
Fourth, cross-border finance has been made convenient. Qianhai has taken the lead in implementing various pilot projects, such as an integrated capital pool of multinational companies with domestic and foreign currencies and the Cross-boundary Wealth Management Connect Scheme. As such, Qianhai has become the major channel for expanding the cross-border capital flow between Shenzhen and Hong Kong. Cross-border receipts and payments of free trade accounts amounted to RMB351.3 billion, 84% of which were transacted with Hong Kong. With the optimization of the pilot schemes for cross-border equity investments, namely the Qualified Foreign Limited Partnership Scheme (“QFLP”) and the Qualified Domestic Investment Enterprise Scheme (“QDIE”), Hong Kong-invested management companies under the QDIE scheme have set up bases in Qianhai while those under the QFLP scheme have accounted for over 90% of the market share in Shenzhen.
Fifth, great efforts have been made for reforms and innovations. 80 out of 765 innovation achievements of Qianhai in total were recorded in 2022. There were seven new measures adopted and promoted nationwide, bringing the total number to 72. In order to accelerate the reform and innovation of technological development mechanism, the Guangdong-Hong Kong-Macao Greater Bay Area Union of Innovation China has been established. The union comprises 44 national “specialised, sophisticated, distinctive and innovative” small giant enterprises, 126 innovation carriers such as enterprise engineering centers, engineering laboratories and technology centers, and 10 unicorn companies, accounting for one-sixth (1/6) of the market share of the Greater Bay Area.
Sixth, the opening-up achievements have been substantial. Eight ministries and state council committees, including the Ministry of Commerce, approved the creation of a national import trade innovation demonstration zone in Qianhai, and the construction of a national cross-border trade big data platform and an electronic component trading center. The total import and export volume of Qianhai Comprehensive Bonded Zone exceeded RMB230 billion, representing an increase of 50%. In 2022, 30 new investment projects of some of the Fortune Global 500 companies were launched in Qianhai with a total investment amount of RMB49.7 billion. The Qianhai International Talent Hub has also provided 451 services under a one-stop approach. Encompassing three international blocks, four Hong Kong and Macao medical institutions and nine international schools, Qianhai has become one of the regions with the highest level of internationalisation.
Seventh, favorable business policies have been in place. The State Taxation Administration, the General Administration of Customs, the Supreme People’s Court, the Supreme People’s Procuratorate and other national departments and committees have issued special policies to facilitate the measures of Qianhai in welcoming WOKEs and supporting their development in the area. Also introduced were eight significant policies which cover foreign investment incentives, business clusters, corporate headquarters, financial industry, trade and logistics industry, technological innovation and professional service industry. Favorable business policies, which have been extensively implemented in Qianhai, can be enjoyed in conjunction with municipal policies.
Eighth, unlimited business opportunities are expected. The launch of the Qianhai Global Service Provider Campaign has attracted and nurtured the top 50 global and top 20 domestic service providers in eight key segments, namely finance, trade and logistics, information, technology, culture and creativity, commerce, shipping and public services. Endeavoring to serve as the core engine for the development of the modern service industries of the Greater Bay Area, this campaign aspires to build a major producer services center in the Asia-Pacific region. In addition, the first six business clusters between Shenzhen and Hong Kong, namely international venture capital investments, natural gas trade, financial leasing, cross-border e-commerce, tax-related services and high-end think tanks, have been rolled out.
This promotion conference, which was the first event upon the re-opening of the borders between Hong Kong and the Mainland in 2023, aims to boost the development potential of business cooperation between the two places. Aside from assisting Hong Kong professionals in settling and developing locally, Qianhai has also introduced other professional services and high-end services from Hong Kong. Leveraging the mutually-beneficial relationships between the two places, Qianhai will explore more possibilities and join hands with Hong Kong for a better future.
SHANGHAI, CHINA – Media OutReach – 20 January 2023 – On January 20, 2023, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma” or “Group”; Stock Code: 600196.SH, 02196.HK) announced that COMIRNATY®Original/Omicron BA.4/BA.5 bivalent COVID-19 vaccine (also known as COMIRNATY® Bivalent COVID-19 Vaccine) is officially approved as a regular imported vaccine by the Pharmaceutical Administration Bureau of Macao Special Administrative Region of the People’s Republic of China (“Macao SAR”). It is indicated as a booster dose for individuals aged 12 years and older who have completed the primary vaccination course against COVID-19. After this approval, people in need can now receive the COMIRNATY® vaccines at qualified medical institutions, which are approved by the Health Bureau of Macau Special Administrative Region, in Macao SAR, with a local medical prescription.
In May 2022, the monovalent COVID-19 vaccine COMIRNATY® (30 mg per dose) (also known as BNT162b2 or COMIRNATY® Original) for people aged 12 years and older was officially approved by the Pharmaceutical Administration Bureau of Macao SAR as a regular imported vaccine. Since November 1, 2022, the self-paid COMIRNATY® Original vaccination service has opened for non-local residents in Macao SAR, which is indicated as a primary course of vaccination against COVID-19 for individuals aged 12 years and older.
Starting from November 1, 2022, the Chinese government resumed the e-visa application for travel to Macao. On the same day, the self-paid COMIRNATY® Original vaccination service for non-local residents of Macao has been officially put into operation in the University Hospital of Macao. In order to meet the growing demand for vaccination, the second self-paid vaccination site in Macao, Kiang Wu Hospital, has been put into operation officially since December 21, 2022.
For the self-paid COMIRNATY® Original vaccination service for non-local residents of Macao, customers can make an appointment and pay through the GoSmart online platform designated by the supplier, Jacobson Pharmaceutical (Hong Kong) Limited. As for the self-paid COMIRNATY® Bivalent COVID-19 Vaccine, customers can make an appointment to get vaccination in Macao through the Fosun Health platform or other designated cooperation platforms after the self-paid vaccination service of the COMIRNATY® Bivalent COVID-19 Vaccine is officially put into operation in Macao SAR.
COMIRNATY® Bivalent COVID-19 Vaccine can effectively deal with Omicron sub-lineages
COMIRNATY® Bivalent COVID-19 Vaccine, an effective deal with Omicron sub-lineages, is an iteration and supplement to the COMIRNATY®, a monovalent COVID-19 mRNA vaccine (BNT162b2) which is already in the market. The COMIRNATY® Bivalent COVID-19 Vaccine contains 15-µg of mRNA encoding for the spike-protein of the wild-type of SARS-CoV-2 and 15-µg of mRNA encoding for the spike protein of the Omicron BA.4/BA.5 sub-lineages of SARS-CoV-2.
Clinical data from an ongoing Phase 2/3 trial demonstrated a robust neutralizing immune response one month after a booster dose of the COMIRNATY® Bivalent COVID-19 Vaccine. One month after a booster dose of the bivalent vaccine, Omicron BA.4/BA.5-neutralizing antibody titers increased 13.2-fold from pre-booster levels in adults older than 55 years of age and 9.5-fold in adults 18 to 55 years of age. These results suggest that a booster dose of the bivalent vaccine may induce a higher level of protection against the Omicron BA.4 and BA.5 sub-lineages than the monovalent COVID-19 vaccine.
In addition, as the Omicron BA.4/BA.5 subseries variant virus (including BA.4.6, BA.2.75.2, BQ.1.1 and XBB.1) that is currently raging in many Asian countries and regions, the COMIRNATY® Bivalent COVID-19 Vaccine produced a higher immune response comparing with the monovalent COVID-19 vaccine. The safety and tolerance of the two vaccines were similar. An analysis of the antibody response of the COMIRNATY® Bivalent COVID-19 Vaccine to the new substrain of Omicron virus showed that after inoculation with COMIRNATY® Bivalent COVID-19 Vaccine, the titers of neutralizing antibodies against BQ.1.1 and XBB.1 increased respectively by 8.7 fold and 4.8 fold.
On March 16, 2020, Fosun Pharma and BioNTech announced a strategic collaboration to develop and commercialize COVID-19 vaccines based on BioNTech’s mRNA technology platform for Greater China Market, including the Chinese Mainland, Hong Kong SAR, Macao SAR, and Taiwan region. COMIRNATY® Original has been authorized for emergency use (EUA) for the government vaccination program in the Hong Kong SAR and Macao SAR since March 2021. Vaccination was commenced in the Taiwan region in September 2021. In November 2022, The Health Bureau of the Hong Kong SAR granted Emergency Use Authorization (EUA) for a booster dose of an Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine for individuals 12 years of age and older. In addition, the Pharmaceutical Administration Bureau of Macao SAR granted a Special Import Authorization for the Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine for individuals 12 years of age and older. The COMIRNATY® Bivalent COVID-19 Vaccine has been vaccinated for the public in Hong Kong SAR and Macao SAR under the government vaccination programme since December 1, 2022.
Fosun Pharma has started to provide COMIRNATY® Bivalent COVID-19 Vaccine to the private medical system in Hong Kong SAR since January 6, 2023. People in need will be able to receive vaccines at their own expense at clinics or medical institutions that provide the COMIRNATY® Bivalent COVID-19 Vaccine.
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About Fosun Pharma
Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd.(“Fosun Pharma”; stock code: 600196. SH, 02196. HK) is a global innovation-driven pharmaceutical and healthcare industry group deep-rooted in China. Fosun Pharma directly operates businesses including pharmaceutical manufacturing, medical devices, medical diagnosis, and healthcare services. As a shareholder of Sinopharm Co., Ltd., Fosun Pharma expands its areas in the pharmaceutical distribution and retail business.
Fosun Pharma is patient-centered and clinical needs-oriented. The company enriches its innovative product pipeline through diversified and multi-level cooperation models such as independent research and development, cooperative development, license-in, and in-depth incubation. Fosun Pharma has formed technological platforms for innovative small molecule drugs, antibody drugs, and cell therapy with a focus on key disease areas including oncology and immunomodulation, metabolism and digestive system, as well as the central nervous system. Fosun Pharma also vigorously explores cutting-edge technologies, such as RNA, gene therapy, ADC, and PROTAC, to enhance its innovation capabilities.
Guided by the 4IN strategy (Innovation, Internationalization, intelligentization, and Integration), Fosun Pharma will uphold the development model of “innovation transformation, integrated operation, and steady growth”, with the mission of creating shareholder values through strengthening its independent R&D and external cooperation and enriching its product pipelines, as well as promoting the global networks and enhancing operational efficiency. Fosun Pharma will actively promote the digital and physical business layout in the pharmaceutical and healthcare industry and is committed to becoming a first-class enterprise in the global medical and health market.
For more information, please visit our official website:www.fosunpharma.com.
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