Mainland Chinese enterprises are increasingly turning to ASEAN for overseas expansion, with Malaysia emerging as a key destination, according to preliminary findings from a new survey by the Hong Kong Trade Development Council (HKTDC). The survey shows that 91% of Mainland companies plan to develop business in ASEAN, driven by the need to seek new markets, diversify supply chains, and capture opportunities in emerging industries such as AI, semiconductors, and new energy.
Bruce Pang, Director of HKTDC Research, said: "ASEAN has become a priority destination for Mainland enterprises pursuing international growth. Companies are not only looking to expand their sales networks, but also establishing regional supply chains, investing in higher value-added activities and exploring opportunities in emerging sectors." He noted that the growing complexities of operating across different markets are fueling strong demand for Hong Kong's professional services, reinforcing the city's role as a superconnector and super value-adder.
The survey found that 83% of Mainland enterprises planning to enter ASEAN are interested in using Hong Kong's professional services, including legal and accounting compliance, marketing, e-commerce, supply chain management, financing, and risk management. Hong Kong remains the preferred platform for businesses seeking to navigate the region's diverse regulatory and business environments.
Among ASEAN markets, Malaysia is attracting significant interest, ranking among the leading destinations for both manufacturing and services companies. Its appeal is underpinned by a mature industrial ecosystem, skilled workforce, competitive business environment, and government initiatives such as the New Industrial Master Plan 2030, the National Semiconductor Strategy, and the Johor-Singapore Special Economic Zone. These factors are strengthening Malaysia's position as an advanced manufacturing, technology, and services hub.
Economic ties between Hong Kong and Malaysia continue to deepen. In 2025, Malaysia was Hong Kong's third-largest trading partner among ASEAN member states. By end of 2025, Hong Kong was Malaysia's second-largest investor after Singapore, with cumulative FDI of US$34.8 billion, and also the second-largest source of FDI in terms of net flows.
Against this backdrop, the HKTDC will host its flagship overseas promotional event, Think Business, Think Hong Kong (TBTHK), in Kuala Lumpur on 11 August. The full-day symposium at Shangri-La Kuala Lumpur will bring together business leaders, investors, innovators, and policymakers from Malaysia and Hong Kong to exchange insights and explore opportunities.
The event will feature discussions on RMB internationalisation, sustainability and green innovations, Hong Kong's role as an international financial and business centre, and healthcare solutions. Algernon Yau, Secretary for Commerce and Economic Development of the Hong Kong SAR Government, and YB Loke Siew Fook, Minister of Transport Malaysia, will be guests of honour. Some 30 Hong Kong service providers and start-ups will showcase their products in the Business Support Zone and InnoVenture Salon, with one-on-one business consultations and matching sessions to facilitate deals.
