The Hong Kong Coalition is a major alliance led by Mr. Tung Chee-hwa, Mr. Leung Chun-ying and Mr. Tam Yiu-chung, which mobilized more than 1,600 people from the local community in Hong Kong, aiming at enabling Hong Kong to overcome major challenges, start afresh and attain new milestones.

According to the "Development Strategy for Hong Kong as the Regional IP Trading Centre" issued by the Coalition, it is proposed that Hong Kong should adopt a phased and systematic approach to build and develop an IP trading platform by leveraging on its strengths, including a well-established international financial system, a robust legal system and world-class professional arbitration services, as well as excellent research and innovation capabilities (particularly in the biotech and healthcare sectors). It is also suggested that IP transactions of cancer-specific pharmaceutical patents and related scientific and technological R&D results can be prioritized for promotion initially.

In the biopharma sector, the number and value of licensing deals by domestic pharmaceutical companies have increased year by year since 2015, with 70 innovative drug licensing deals in 2023, a 32% increase from 44 in 2022, and transactions which worth a total of more than US$46.5 billion were concluded in 2023. There is a huge and growing demand for licensing and trading of innovative drugs by domestic pharmaceutical companies, and anti-cancer drugs are regarded as the most important component.

Hong Kong has a mature capital market and numerous international financial institutions, offering diversified financing options for pharmaceutical technology enterprises, such as initial public offerings (IPO), private equity, and venture capital. As a bridge connecting the mainland with international markets, Hong Kong can help mainland pharmaceutical technology enterprises attract international funds while providing international investors with opportunities to enter the mainland market.

Hong Kong also possesses a sound legal system and intellectual property protection mechanism, which can provide guarantees for the transfer, licensing, and commercialization of pharmaceutical technology IP. The Hong Kong government actively promotes the development of innovation and technology, providing funding, tax, and other preferential policies. The research and commercialization of cancer technology will receive strong support.

Based on the above circumstances, the planning and organization of the "Global Cancer IP Promotion Alliance" aims to create an efficient and sustainable IP transaction facilitation platform for pharmaceutical research entrepreneurs, investors, multinational biopharmaceutical companies, scholars, and professional service organizations. The national "14th Five-Year Plan" also proposes "supporting Hong Kong in building a regional intellectual property trade center," which is both a long-term need for Hong Kong's diversification and enhancement of international competitiveness and an important milestone for Hong Kong's better integration into the national development strategy.