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Guangzhou Pharmaceutical considers Hong Kong Northern Metropolis investment
The Northern Metropolis plan would transform 30,000 hectares of land near the border into a technological and economic hub, and Guangzhou Pharmaceutical said it is weighing a possible investment without providing details.
Mainland Chinese technology and pharmaceutical firms are increasingly looking at Hong Kong as a base for global expansion, industry leaders said during a Greater Bay Area trip organized by the Hong Kong and Macau Affairs Office, which ran for six days. According to SCMP Economy, Guangzhou Pharmaceutical Holdings, a major state-owned drugmaker, said it is considering investing in Hong Kong’s Northern Metropolis megaproject. The company’s vice-chairman, Chen Jiehui, cited Hong Kong’s mix of Chinese and Western cultures and its international orientation as advantages for developing areas such as traditional Chinese medicine. Chen said the company had held alignment discussions with relevant parties but did not disclose any specifics on the possible investment. The Northern Metropolis megaproject is intended to turn 30,000 hectares of land near the border with the mainland into a technology and economic hub, with the plans described as an effort to scale the city’s innovation capacity.
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