Core Insights - The report by Hang Seng Index Company highlights the growth potential in China's healthcare spending and the expanding market for oncology drugs driven by increasing cancer cases [1] - The emphasis on innovative drugs over generic drugs by the government is identified as a key driver for the growth of the biotechnology sector [1] Industry Overview - China's healthcare spending is expected to increase, indicating room for growth in the sector [1] - The oncology drug market is projected to grow at a compound annual growth rate (CAGR) of 12.4% from 2023 to 2030, compared to a CAGR of 7.5% from 2018 to 2023 [1] Market Trends - The forecasted CAGR for China's generic drug market from 2023 to 2028 is 3.8%, while the innovative drug market is expected to grow at a CAGR of 7.9% during the same period [1] - The Hang Seng Biotechnology Index, launched in 2019, tracks the performance of the largest 30 biotechnology companies listed in Hong Kong and remains active amid the current wave of innovative drugs [1] Investment Opportunities - The Hang Seng Medical ETF (159892), which tracks the biotechnology index, has a scale exceeding 60 billion, demonstrating good liquidity and ranking first among its peers [1]