Hetao, an emerging world-class scientific research hub

Shenzhen-based artificial intelligence (AI) drug research firm QuantumPharm Inc., also known as XtalPi, became the first company in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone to be listed on the Hong Kong Stock Exchange on June 13.

A view of the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. Xinhua

QuantumPharm is also the first company to go public on the exchange under Chapter 18C, a new rule specifically introduced last year to attract strategic startups such as pre-revenue specialist technology firms. Chapter 18C allows companies worth at least HK$10 billion (US$1.28 billion) to sell shares before they have made any revenue.

One year ago, the State Council released a development plan for the Shenzhen park of Hetao, with the goal of transforming it into a world-class scientific research hub.

To achieve this goal, the Shenzhen park has introduced a series of initiatives to accelerate the commercialization of scientific and technological achievements. They include attracting relevant research institutes and organizations to establish a presence in the park and facilitating collaboration and exchange between Shenzhen and Hong Kong’s scientific communities.

Research and

commercialization

Hetao has provided support for original innovation, the commercialization of scientific research projects, and the development of innovative industrial chains through various initiatives.

Founded by a team from the Massachusetts Institute of Technology (MIT) in 2015, QuantumPharm relocated to the Hetao Shenzhen park in 2021. He Mi, its vice president, described the move to Hetao as one of the company’s most pivotal decisions.

Leveraging the office space provided by the park, QuantumPharm integrated its algorithm and lab teams within the same building.

A robot workstation developed by QuantumPharm in the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. Xinhua

This close proximity has enhanced the translation of scientific research into real products, contributing to the company’s growth.

On Aug. 6, construction of the Institute of Physical Sciences at the City University of Hong Kong was completed. One of the newest state-of-the-art scientific research spaces in the zone, the 72,000-square-meter facility focuses on material science, biological medicine, and AI.

As of now, the park has dedicated 1 million square meters to scientific research, with plans to expand by 300,000 square meters this year.

High-tech

gatherings

In Hetao, advanced tech companies, labs that use automated technologies, driverless vehicles on the roads, and data centers are common. “It is a place where we can feel the power of technological development,” said Chen Yongpan, director of the digital intelligence department at QuantumPharm.

Capitalizing on its geographical advantages, the Shenzhen park has successfully attracted numerous institutes, organizations, and business giants.

On Friday, three international technological innovation institutes focusing on life sciences, health, and artificial intelligence opened in the park, further bolstering its status as a world-class scientific research hub.

Additionally, Apple’s research lab, the Research and Development Institute of China FAW Group in the Guangdong-Hong Kong-Macao Greater Bay Area, and the China Steel Research International Innovation Center for New Materials have settled in the park.

Jeff Williams, Apple’s chief operating officer, has noted the advantages of the firm’s lab in the Shenzhen park, which is adjacent to its production and assembly base. Williams said this setup allows engineers to collaborate closely with suppliers and make real-time adjustments. The Shenzhen lab also provides crucial support to Apple’s global R&D team.

Over the past year, the park has attracted leading enterprises in robotics, autonomous driving, AI, and other cutting-edge sectors. The incubation of future industries such as the low-altitude economy, intelligent robotics, and quantum information has accelerated, thereby laying the groundwork for innovative international industry and standards ecosystems.

In the past year, more than 90 high-end institutes, seven R&D centers from Global Fortune 500 companies, and notable international standards organizations have established a presence in Hetao.

Convenient

SZ-HK exchange

On Aug. 5, the first cross-border bus service began transporting scientific research personnel between the Shenzhen and Hong Kong parks of Hetao.

A researcher from the Shenzhen-Hong Kong Collaborative Innovation Research Institute of the Hong Kong University of Science and Technology said that members of his team, primarily from the Hong Kong campus, must commute between Shenzhen and Hong Kong daily. Since the launch of the bus service, their one-way commute time has been reduced from 50 minutes to around 35 minutes.

So far, 11 vehicles owned by scientific research institutes have received passes to commute between Shenzhen and Hong Kong. Data show that the number of people engaged in scientific research in Hetao has increased from an initial 4,300 to over 15,000.