Global financial investors are discreetly flocking to Hong Kong to avoid geopolitical attention, according to the CEO of the city’s sovereign wealth fund. The HKIC, with US$8 billion in assets, aims to protect investments by swiftly facilitating capital flow. A recent forum attracted global investors with over US$20 trillion in combined assets.

Founded in 2022, the HKIC focuses on biotechnology, green technology, and core technology to transform Hong Kong into an innovation hub. CEO Chan emphasized the importance of investing in health tech and biotech, aligning with China’s initiatives. The latest investment was in Insilico Medicine, a start-up utilizing AI in drug discovery.

Insilico Medicine, seeking an IPO in Hong Kong, aims to expand operations in the city. The HKIC’s investment requires Insilico to collaborate with local universities, register intellectual property in Hong Kong, and support the establishment of the “longevity frontier space.” Challenges include geopolitical tensions hindering Hong Kong’s biotech ambitions.

Despite geopolitical challenges, the CEO of HKIC sees long-term opportunities for investment in the future of Hong Kong’s biotech sector. Adapting to the “new normal,” where geopolitics persist, smart investments are crucial for the city’s growth. The article originally appeared in SCMP, offering insights into China and Asia for over a century.

Read more at Yahoo Finance.: Global capital is tiptoeing into Hong Kong’s market, aided by the city’s investment fund