A new survey from the Hong Kong Trade Development Council (HKTDC) reveals that Mainland Chinese enterprises are increasingly targeting ASEAN markets for international expansion, with Malaysia emerging as a key destination. Preliminary findings show that 91% of surveyed Mainland companies plan to develop business in ASEAN, underscoring the region's strategic importance for companies seeking new markets, supply chain diversification, and opportunities in emerging industries.
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, such as AI, semiconductors and new energy." Pang added that the growing complexities of cross-market operations drive 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 enterprises planning ASEAN expansion expressed interest in using Hong Kong's professional services, including legal and accounting compliance, marketing, e-commerce, supply chain management, financing, and risk management. This highlights Hong Kong's position as a preferred platform for businesses navigating regional growth.
Malaysia stands out among ASEAN markets, attracting significant interest from Mainland firms, particularly in semiconductors, industrial materials, AI, and other innovation-driven sectors. The country's appeal stems from its mature industrial ecosystem, skilled workforce, competitive business environment, and policy initiatives such as the New Industrial Master Plan 2030, the National Semiconductor Strategy, and the Johor-Singapore Special Economic Zone. These factors strengthen 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-2025, Hong Kong was Malaysia's second-largest investor after Singapore, with cumulative FDI of US$34.8 billion, and second-largest source of FDI in terms of net flow.
Against this backdrop, the HKTDC will bring its flagship promotional event, Think Business, Think Hong Kong, to Kuala Lumpur on 11 August at Shangri-La Kuala Lumpur. The full-day symposium will gather business leaders, investors, innovators, and policymakers from Malaysia and Hong Kong to exchange insights, explore investment opportunities, and forge cross-border partnerships. Discussions will cover 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 at the opening ceremony.
In addition to the symposium, some 30 Hong Kong service providers and start-ups will showcase products and solutions in the Business Support Zone and InnoVenture Salon. One-on-one business consultations and on-site matching will facilitate deals. A delegation of around 100 government officials and business leaders from various sectors will travel to Malaysia to explore opportunities.
The survey and upcoming event underscore Malaysia's growing strategic importance and the increasing demand for Hong Kong's professional services as Mainland enterprises pursue ASEAN opportunities. The HKTDC's research and initiatives highlight Hong Kong's role as a vital platform connecting businesses across the region.
