Hong Kong Baptist University (HKBU) and China Resources Enterprise Limited (CRE) have signed a Memorandum of Understanding (MoU) 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.

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.

The Secretary for Innovation and Technology, 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."