Mainland enterprises are increasingly expanding into ASEAN, pursuing new growth opportunities overseas, with Malaysia emerging as one of the region's key destinations for business development and investment, according to preliminary findings from a new Hong Kong Trade Development Council (HKTDC) survey. The survey shows that ASEAN has become a major focus of Mainland companies' internationalisation strategies, while demand for Hong Kong's professional services continues to grow.
Results showed 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, 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, such as AI, semiconductors and new energy.'
'At the same time, businesses recognise the growing complexities of operating across different markets. This explains the strong demand for Hong Kong's professional services, and reinforces our city's role as a superconnector and super value-adder facilitating opportunities for enterprises across ASEAN and beyond,' Pang added.
As enterprises expand overseas, professional support has become increasingly important. 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% of surveyed respondents indicated an interest in using Hong Kong's professional services to support their regional development.
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. Malaysia's appeal is underpinned 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 helping to strengthen the country's position as an advanced manufacturing, technology and services hub in ASEAN.
Economic ties between Hong Kong and Malaysia have continued to deepen. 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 a cumulative FDI of US$34.8 billion, while Hong Kong was Malaysia's 2nd largest source of FDI after Singapore in terms of net FDI flow.
Amid Malaysia's growing strategic importance, the HKTDC will bring its flagship overseas promotional event, Think Business, Think Hong Kong, to Kuala Lumpur on 11 August. 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. With Malaysia's evolving economic priorities as a backdrop, 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 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 the guests of honour at the opening ceremony. In addition to the symposium, some 30 Hong Kong service providers and start-ups will feature their flagship products and solutions in the exhibition's Business Support Zone and InnoVenture Salon to create opportunities for collaboration with Malaysian participants. One-on-one business consultations and on-site business matching will facilitate deals and cooperation between Malaysian and Hong Kong companies.
A group of around 100 government officials, business leaders, innovators, start-ups and professional service providers from various sectors – including finance, business, innovation and technology, environmental services, media and advertising – will travel to Malaysia to explore business opportunities through discussions, networking events and business matching meetings.
