Speech by FS at International Bio-Computing Innovation Summit 2026 (English only) (with photos)

Following is the speech by the Financial Secretary, Mr Paul Chan, at International Bio-Computing Innovation Summit 2026 today (November 6): Liu Wei (Co-founder and Chief Executive Officer of BioMap), Clara (Chief Executive Officer of the Hong Kong Investment Corporation Limited, Ms Clara Chan), distinguished speakers and guests, ladies and gentlemen, Good morning. It is a pleasure to open the third International Bio-Computing Innovation Summit. To everyone joining us from overseas and the Mainland, a very warm welcome to Hong Kong. Let me begin with two laws that tell very different stories about scientific progress. Many of you will be familiar with Moore's Law. In computing, we have come to expect more computing power for lower cost every year or two. It is the kind of progress we would all like to see in other fields. Yet medicine has followed a very different path. For some 70 years, even as the science grew more sophisticated, the cost of bringing a new drug to patients doubled roughly every nine years. This is known as Eroom's Law: Moore's Law in reverse, even in its name. There is a little humour, but none in the consequences. Behind that rising curve are promising treatment

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