Mainland Chinese enterprises are increasingly targeting ASEAN for overseas expansion, with Malaysia emerging as a key destination for business development and investment, according to preliminary findings from a new survey by the Hong Kong Trade Development Council (HKTDC). The survey shows that 91% of Mainland enterprises plan to develop business in ASEAN, reflecting the region's growing importance as companies seek new markets, diversify supply chains, and capture opportunities in emerging industries.
Bruce Pang, Director of HKTDC Research, commented: "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, such as AI, semiconductors and new energy." Pang added that the growing complexities of operating across different markets drive strong demand for Hong Kong's professional services, reinforcing the city's role as a superconnector and super value-adder.
As enterprises expand overseas, professional support has become increasingly important. The survey found that Mainland companies entering ASEAN markets require assistance in legal and accounting compliance, marketing, e-commerce, supply chain management, financing, and risk management. Among enterprises planning to expand into ASEAN, 83% indicated an interest in using Hong Kong's professional services to support their regional development.
Malaysia is attracting significant interest from Mainland enterprises, ranking among the leading destinations for both manufacturing and services companies looking to establish or expand regional operations. The country is particularly attractive for businesses involved in semiconductors, industrial materials, AI, and other innovation-driven industries. Malaysia's appeal is underpinned by its mature industrial ecosystem, skilled workforce, competitive business environment, and commitment to industrial upgrading through initiatives such as the New Industrial Master Plan 2030, the National Semiconductor Strategy, and the Johor-Singapore Special Economic Zone.
Economic ties between Hong Kong and Malaysia have deepened. In 2025, Malaysia was Hong Kong's third-largest trading partner among ASEAN member states. At the end of 2025, Hong Kong was Malaysia's second-largest investor after Singapore, with cumulative FDI of US$34.8 billion.
Amid Malaysia's growing strategic importance, the HKTDC will bring its flagship promotional event, Think Business, Think Hong Kong (TBTHK), to Kuala Lumpur on 11 August. The full-day symposium at Shangri-La Kuala Lumpur will bring together business leaders, investors, innovators, professional service providers, and policymakers from Malaysia and Hong Kong to exchange insights, explore investment opportunities, and forge cross-border partnerships. Topics include RMB internationalisation, sustainability, green innovations, Hong Kong's role as an international financial 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. The event will feature 30 Hong Kong service providers and start-ups in the Business Support Zone and InnoVenture Salon, with one-on-one business consultations and on-site business matching to facilitate deals between Malaysian and Hong Kong companies.
