A new survey by the Hong Kong Trade Development Council (HKTDC) has found that Mainland enterprises are increasingly targeting ASEAN markets for overseas expansion, with Malaysia emerging as a key destination for business development and investment. The preliminary findings, released ahead of HKTDC's flagship event Think Business, Think Hong Kong in Kuala Lumpur, indicate 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 the growing complexities of operating across different markets drive strong demand for Hong Kong's professional services, reinforcing the city's role as a superconnector and super value-adder.
The survey also found that 83% of respondents planning to expand into ASEAN expressed interest in using Hong Kong's professional services to support their regional development. These services include 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 overseas.
Within ASEAN, Malaysia is attracting significant interest, particularly for manufacturing and services companies looking to establish or expand regional operations. The country is especially attractive for businesses involved 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 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 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 in terms of net flow.
To capitalize on Malaysia's growing strategic importance, HKTDC will bring its flagship overseas promotional event, Think Business, Think Hong Kong, to 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. 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 the guests of honour at the opening ceremony. The event will also feature an exhibition with around 30 Hong Kong service providers and start-ups, one-on-one business consultations, and on-site business matching. For more information, visit the symposium registration page at https://thinkbusinessthinkhk.com/2026-kuala-lumpur/symposium/en/index.html.
