A new survey by the Hong Kong Trade Development Council (HKTDC) reveals that 91% of Mainland Chinese enterprises plan to develop business in ASEAN, underscoring the region’s growing importance as companies seek new markets, diversify supply chains, and capture opportunities in emerging industries. The findings, released ahead of HKTDC’s Think Business, Think Hong Kong event in Kuala Lumpur on 11 August, show that Malaysia has emerged as a key destination for both manufacturing and services firms, particularly in semiconductors, artificial intelligence, and new energy.
Bruce Pang, Director of HKTDC Research, noted that ASEAN has become a priority 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 said. He added that the growing complexity of operating across different markets explains the strong demand for Hong Kong’s professional services, reinforcing the city’s role as a superconnector and super value-adder.
Among Mainland enterprises planning to expand into ASEAN, 83% 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 positions Hong Kong as a preferred platform for supporting regional development.
Malaysia’s appeal is driven by its mature industrial ecosystem, skilled workforce, competitive business environment, and commitment to industrial upgrading. Initiatives such as the New Industrial Master Plan 2030, the National Semiconductor Strategy, and the Johor-Singapore Special Economic Zone are strengthening the country’s position as an advanced manufacturing, technology, and services hub in ASEAN. In 2025, Malaysia was Hong Kong’s third-largest trading partner among ASEAN member states, and by end of 2025, Hong Kong was Malaysia’s second-largest investor after Singapore, with cumulative FDI of US$34.8 billion.
To capitalise on these trends, HKTDC will hold its flagship event, Think Business, Think Hong Kong (TBTHK), in Kuala Lumpur on 11 August at Shangri-La Kuala Lumpur. The full-day symposium will bring together business leaders, investors, policymakers, and professional service providers from Malaysia and Hong Kong. Discussions will cover RMB internationalisation, sustainability and green innovations, Hong Kong’s role as an international financial and business centre, and healthcare solutions. Guests of honour include Algernon Yau, Secretary for Commerce and Economic Development of the Hong Kong SAR Government, and YB Loke Siew Fook, Minister of Transport Malaysia.
The event also features a Business Support Zone and InnoVenture Salon with around 30 Hong Kong service providers and start-ups showcasing their products. One-on-one business consultations and on-site business matching will facilitate deals. A delegation of about 100 government officials and business leaders from Hong Kong will travel to Malaysia for the event. More information and registration are available at the symposium website: Think Business, Think Hong Kong Kuala Lumpur.
These developments signal a strategic shift as Mainland enterprises increasingly look outward, with ASEAN—and Malaysia in particular—becoming critical for supply chain diversification and innovation. Hong Kong’s role as a service hub is expected to deepen, offering businesses a gateway to navigate regional complexities.
