The Innovation and Technology Commission today announced that the Government will form a new committee to spearhead and promote research and development and testing of Chinese medicines in Hong Kong.
The announcement was made following the endorsement by the two shareholders of the Hong Kong Jockey Club Institute of Chinese Medicine Limited - the Hong Kong Applied Science and Technology Research Institute Company Limited and the Hong Kong Jockey Club (Charities) Limited (HKJCCL) - to disband the HKJCICM.
A spokesman for the Commission said, "The new institutional set-up is a means to provide stronger support for R&D in Chinese medicines by enhancing the collaboration of relevant stakeholders. In addition, it will explore business opportunities for the testing industry in Chinese medicines which is one of the four selected trades identified by the Hong Kong Council for Testing and Certification. The disbandment of the HKJCICM by no means suggests that less support will be given to the development of Chinese medicines by Government.
The new committee on Chinese medicines will be chaired by the Commissioner for Innovation and Technology. It will have cross-sectoral membership from the Government, industry, academic and R&D institutions involved in Chinese medicines.
Furthermore, the Government will continue to support the development of Chinese medicines through the Innovation and Technology Fund, which has an uncommitted funding balance of some $2.1 billion.
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