Mainland Chinese enterprises are increasingly looking to ASEAN for growth opportunities, with Malaysia emerging as a key destination, according to preliminary findings from a new Hong Kong Trade Development Council (HKTDC) survey. The survey shows that 91% of respondents plan to develop business in ASEAN, highlighting the region's growing importance as companies 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 added that businesses recognize the growing complexities of operating across different markets, which explains the strong demand for Hong Kong's professional services and reinforces its role as a superconnector and super value-adder.
The survey found that 83% of enterprises planning to expand into 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. This underscores Hong Kong's position as a preferred business services platform for mainland companies venturing overseas.
Among ASEAN markets, Malaysia is attracting significant interest, particularly for manufacturing and services companies 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 initiatives like the New Industrial Master Plan 2030, the National Semiconductor Strategy, and the Johor-Singapore Special Economic Zone.
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 the end of 2025, Hong Kong was Malaysia's second-largest investor after Singapore, with cumulative FDI of US$34.8 billion, and the second-largest source of FDI in terms of net flow.
To capitalize on these opportunities, HKTDC will host its flagship overseas promotional event, Think Business, Think Hong Kong, in Kuala Lumpur on 11 August. The full-day symposium at Shangri-La Kuala Lumpur will bring together business leaders, investors, and policymakers from Malaysia and Hong Kong to explore investment opportunities and forge cross-border partnerships. Topics include RMB internationalisation, sustainability, green innovations, 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. The event will also feature an exhibition with 30 Hong Kong service providers and start-ups, one-on-one business consultations, and on-site business matching.
