A recent survey by the Hong Kong Trade Development Council (HKTDC) reveals that Mainland Chinese enterprises are increasingly focusing on ASEAN for international expansion, with Malaysia emerging as a key destination. The preliminary findings indicate that 91% of surveyed Mainland companies plan to develop business in ASEAN, seeking new markets, supply chain diversification, and opportunities in emerging industries such as AI, semiconductors, and new energy.
According to Bruce Pang, Director of HKTDC Research, “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 the growing complexities of operating across different markets explain the 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 to expand into ASEAN expressed interest 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 a preferred business services platform for Mainland companies venturing into the region.
Among ASEAN markets, Malaysia is attracting significant interest. The country ranks among the leading destinations for both manufacturing and services companies looking to establish or expand regional operations, particularly 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 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 continue to deepen. In 2025, Malaysia was Hong Kong’s third-largest trading partner among ASEAN member states. In terms of bilateral investment, at 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 after Singapore in net flows.
To capitalize on Malaysia’s growing strategic importance, the HKTDC will hold 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, professional service providers, and policymakers from Malaysia and Hong Kong to exchange insights, explore investment opportunities, and forge cross-border partnerships.
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 the guests of honour at the opening ceremony.
Approximately 30 Hong Kong service providers and start-ups will showcase their products and solutions 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. A delegation of around 100 government officials, business leaders, and professionals from sectors including finance, technology, environmental services, and media will travel to Malaysia to explore opportunities.
