CRE and HKBU sign MOU to explore the establishment of a joint centre on smart Chinese medicine

China Resources Enterprise (CRE) and Hong Kong Baptist University (HKBU) signed amemorandum of Understanding (MOU) on May 26 to jointly promote the modernizationand internationalization of Chinese medicine. Based on the MOU’s collaborationframework, the two parties signed a Letter of Intent to explore the establishment oftheCRE-HKBU Joint Innovation Centre on Smart Chinese Medicine.

The MOU and the Letter of Intent were signed byMr Chen Ying, Assistant GeneralManager of China Resources Group (CRC) cum Chairman of the Board and ChiefExecutive Officer of CRE and Professor Alexander Wai, President and Vice-Chancellor ofHKBU,under the witness byDr David Chung, Under Secretary for Innovation andTechnology of the HKSAR Government;Mr Tommy Li Ying-sang, Deputy to the NationalPeople's Congress of the People's Republic of China cum Honorary University Fellow ofHKBU;Dr Sunny Chai Ngai-chiu, Chairman of the Hong Kong Science and TechnologyParks Corporation;Dr Clement Chen, Chairman of the Council and the Court ofHKBU;Mr Paul Poon, Deputy Chairman of the Council and the Court ofHKBU;andProfessor Lyu Aiping, Dean of Chinese Medicine of HKBU.Mr Alfred SitWing-hang, Secretary for Innovation and Technology of the HKSAR Government, joinedthe occasion and delivered a speech online.

The MOU between CRE and HKBU aims to build on Hong Kong’s status as the nation’sconnecting window and bridge with the international community. The initiative also hopesto combine the strengths of both parties to jointly promote the standardization,modernization and scientific development of Chinese medicine, so that Chinese medicinewill be more widely accepted by the international community and contribute to humanhealth.

According to the purpose of the MOU, CRE and HKBU will explore knowledge exchangeand collaboration onsmart Chinese medicine,research and development of modernChinese medicineand theintellectual property of Chinese medicine. During the five-yearcollaboration period, HKBU will use its academic and scientific research resources, aswell as its network of education, research and development, and medical institutions topromote related collaborations.CRE will invest up to HK$50 millionand provide marketdemand and industry knowledge, industry resources and management experience topromote relevant collaboration projects.

Mr Chen Ying, Chairman of the Board and Chief Executive Officer of CRE, said: “Thiscollaboration aspires to build on the diversified business advantages of China Resources,and HKBU’s research excellence and talent pool in Chinese medicine, to reach thevantage point for Chinese medicine in Hong Kong. CRE will establish the ChinaResources Research InstituteofScience and Technology in Hong Kong as part of anongoing effort to establish joint research centers with local and overseas universities andscientific research organizations. CRE will also seize the opportunity to proactivelypromote the development of innovative technologies to establish a mechanism fornurturing high-end research talent, and attract overseas and local talents in technology.”

Professor Alexander Wai said: “HKBU is the leader in Chinese medicine education andresearch in Hong Kong, and has extensive experience in providing Chinese medicineclinical services. Furthermore, the University has been appointed by the HKSARGovernment as the operator of the city’s first Chinese Medicine Hospital. In terms ofresearch, HKBU has built a comprehensive knowledge database on modern Chinesemedicine with the use of big data, and we have advanced the frontiers of Chinesemedicine knowledge and technology by integrating traditional wisdom and artificialintelligence. By combining HKBU’s unique advantages and CRE’s industry knowledge,business resources and market acumen, synergy can be achieved in further promotingthe standardization and globalization of Chinese medicine, and together, we will helpChinese medicine development in Hong Kong breakthrough into the international arena.”

The Secretary for Innovation and Technology, Mr Alfred Sit said, “The Government has allalong been supporting the collaboration among theGovernment, industry, academia andresearch sectors. I believe the concerted efforts of CRE and HKBU will further drive thestandardization and internationalization of Chinese Medicine and spread around theworldthe long-standing traditional Chinese Medicine through Hong Kong. As one of thecountry’s most international and market-oriented cities, we havethe responsibility andcompetence in advocating our country’s industries with advantages, including Chinesemedicine, across the world.”

According to the Letter of Intent signed under the MOU framework, CRE and HKBU willexplore the possibility of establishing the CRE-HKBU Joint Innovation Centre of SmartChinese Medicine together to take forward related collaborative research, technologydevelopment, application and commercialization initiatives, and promote thedigitalization, standardization and internationalization of Chinese medicine. Both partieswill continue to discuss and conclude agreements on designated Chinese medicine andpharmaceutical projects in the future for implementation by HKBU’s School of ChineseMedicine and the China Resources Research InstituteofScience and Technology.

Time of publication: 2023-01-04 17:33:37Source: