HONG KONG — Mainland Chinese enterprises are increasingly looking to ASEAN for overseas growth, 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, released ahead of the Think Business, Think Hong Kong event in Kuala Lumpur, shows that 91% of surveyed 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 on the findings: '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.' 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 the city's role as a superconnector and super value-adder.
The survey found that Mainland companies entering ASEAN markets require assistance in areas including 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. This underscores Hong Kong's position as a preferred business services platform for companies venturing into Southeast Asia.
Among ASEAN markets, Malaysia is attracting significant interest from Mainland enterprises. The survey shows that the country ranks among the leading destinations for both manufacturing and services companies looking to establish or expand regional operations. Malaysia is particularly attractive for businesses involved in semiconductors, industrial materials, AI, and other innovation-driven industries. Its appeal is underpinned by a 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 3rd largest trading partner among ASEAN member states. At the end of 2025, Hong Kong was Malaysia’s 2nd largest investor after Singapore, with cumulative FDI of US$34.8 billion, and was also the 2nd largest source of FDI in terms of net flow.
To capitalize on Malaysia's growing strategic importance, the HKTDC will bring its flagship overseas promotional event, Think Business, Think Hong Kong (TBTHK), to Kuala Lumpur on 11 August at the Shangri-La Kuala Lumpur. The full-day symposium will bring together business leaders, investors, innovators, professional service providers, and policymakers from Malaysia and Hong Kong to exchange insights, explore investment and business opportunities, and forge new cross-border partnerships. Discussions will cover RMB internationalization, sustainability and green innovations, Hong Kong's role as an international financial and business centre, and healthcare solutions and innovations. 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 feature their products and solutions in the exhibition’s Business Support Zone and InnoVenture Salon, with one-on-one business consultations and on-site business matching to facilitate deals and cooperation. A group of around 100 government officials, business leaders, innovators, start-ups, and professional service providers from sectors including finance, business, innovation and technology, environmental services, and media and advertising will travel to Malaysia to explore opportunities. For more information or to register, visit the symposium page.
