Press Release
HKBU and China Resources Enterprise Limited sign MOU to explore the establishment of a joint centre on smart Chinese medicine and promote modernisation and internationalisation of Chinese medicine
Sunday, 29 May 2022
Hong Kong Baptist University (HKBU) and China Resources Enterprise Limited (CRE) signed a Memorandum of Understanding (MOU) on 26 May to jointly promote the modernisation and internationalisation of Chinese medicine. Under the MOU’s collaboration framework, the two parties signed a Letter of Intent to explore the establishment of the HKBU-CRE Joint Innovation Centre on Smart Chinese Medicine.
The MOU and the Letter of Intent were signed by Professor Alexander Wai, President and Vice-Chancellor of HKBU, and Mr Chen Ying, Assistant General Manager of China Resources Group (CRC) cum Chairman of the Board and Chief Executive Officer of CRE, under the witness by Dr David Chung, Under Secretary for Innovation and Technology of the HKSAR Government; Mr Tommy Li Ying-sang, Deputy to the National People's Congress of the People's Republic of China cum Honorary University Fellow of HKBU; Dr Sunny Chai Ngai-chiu, Chairman of the Hong Kong Science and Technology Parks Corporation; Dr Clement Chen, Chairman of the Council and the Court of HKBU; Mr Paul Poon, Deputy Chairman of the Council and the Court of HKBU; and Professor Lyu Aiping, Dean of Chinese Medicine of HKBU. Mr Alfred Sit Wing-hang, Secretary for Innovation and Technology of the HKSAR Government, joined the occasion and delivered a speech online.
The MOU between HKBU and CRE aims to build on Hong Kong’s status as the nation’s connecting window and bridge with the international community. The initiative also hopes to integrate the strengths of both parties to jointly promote the standardisation, modernisation and scientific development of Chinese medicine, so that Chinese medicine will be more widely accepted by the international community. In addition, this will enable Chinese medicine to further contribute to the safeguarding of human health.
In line with the MOU’s objectives, HKBU and CRE will explore knowledge exchange and collaboration on smart Chinese medicine, research and development of modern Chinese medicine and the intellectual property of Chinese medicine and pharmacy. During the five-year collaboration period, HKBU will utilise its academic and scientific research resources, as well as relevant education, research and development, and medical organisation networks to promote related collaborations. CRE will invest funding of up to HK$50 million and offer market demand and industry knowledge, industry resources as well as management experience to drive relevant collaboration projects.
Professor Alexander Wai said: “HKBU is the leader in Chinese medicine education and research in Hong Kong, and we have rich experience in providing Chinese medicine clinical services. Furthermore, the University has been appointed by the HKSAR Government as the operator of the city’s first Chinese Medicine Hospital. In terms of research, HKBU has built a comprehensive knowledge database on modern Chinese medicine with the use of big data, and we have advanced the frontiers of Chinese medicine knowledge and technology by integrating traditional wisdom and artificial intelligence. By combining HKBU’s unique advantages and CRE’s industry knowledge, business resources and market acumen, synergy can be achieved in further promoting the standardisation and globalisation of Chinese medicine, and together, we will help Chinese medicine development in Hong Kong breakthrough into the international arena.”
Mr Chen Ying, Chairman of the Board and Chief Executive Officer of CRE, said: “This collaboration aspires to build on the diversified business success of China Resources, as well as HKBU’s research excellence and talent pool in Chinese medicine, to reach a higher vantage point for Chinese medicine in Hong Kong that integrates the efforts of the industry, academia and research bodies. CRE will set up the China Resources Research Institute of Science and Technology in Hong Kong as part of an ongoing effort to establish joint research centres with local and overseas universities and scientific research organisations. We will also seize the opportunity to proactively promote the development of innovative technologies to build up a mechanism for nurturing high-end research talent, and attract overseas and local leaders in technology.”
The Secretary for Innovation and Technology, Mr Alfred Sit said, “The Government has all along been supporting the collaboration among the Government, industry, academia and research sectors. I believe the concerted efforts of CRE and HKBU will further drive the standardisation and internationalisation of Chinese Medicine and spread around the world the long-standing traditional Chinese Medicine through Hong Kong. As one of the country’s most international and market-oriented cities, we have the responsibility and competence in advocating our country’s industries with advantages, including Chinese medicine, across the world.”
According to the Letter of Intent signed under the MOU framework, HKBU and CRE will explore the possibility of establishing the HKBU-CRE Joint Innovation Centre of Smart Chinese Medicine together to take forward related collaborative research, technology development, application and commercialisation initiatives, and promote the digitalisation, standardisation and internationalisation of Chinese medicine. Both parties will continue to discuss and conclude agreements on designated Chinese medicine and pharmaceutical projects in the future for implementation by HKBU’s School of Chinese Medicine and the China Resources Research Institute of Science and Technology.
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