Mainland Chinese enterprises are increasingly focusing on the Association of Southeast Asian Nations (ASEAN) as they look for new overseas growth opportunities, 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 found that 91% of the Mainland enterprises surveyed plan to develop business in ASEAN, underscoring the region’s growing importance as companies seek new markets, diversify supply chains, and pursue 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.”

Businesses also recognize the increasing complexity of operating across multiple markets, which is helping to drive interest in regional support services rather than expansion alone. The survey found that 83% of respondents planning to expand into ASEAN said they were interested in using Hong Kong’s professional services to support their regional development. Demand remains strong for Hong Kong’s legal, accounting, marketing, e-commerce, supply chain management, financing, and risk management services, reinforcing the city’s role as a superconnector and super value-adder.

Among ASEAN markets, Malaysia is drawing significant interest from Mainland enterprises, particularly those in semiconductors, industrial materials, AI, and other innovation-driven industries. Malaysia’s appeal is supported by its mature industrial ecosystem, skilled workforce, competitive business environment, and commitment to industrial upgrading. Policies and initiatives including 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.

Economic ties between Hong Kong and Malaysia have also deepened. In 2025, Malaysia was Hong Kong’s third-largest trading partner among ASEAN member states. On the investment side, Hong Kong was Malaysia’s second-largest investor after Singapore at the end of 2025, with cumulative foreign direct investment of US$34.8 billion.

Reflecting Malaysia’s growing strategic importance, the HKTDC will bring its flagship overseas promotional event, Think Business, Think Hong Kong (TBTHK), to Kuala Lumpur on August 11. The full-day symposium at Shangri-La Kuala Lumpur will gather business leaders, investors, innovators, professional service providers, and policymakers from Malaysia and Hong Kong.

Discussions at the event will cover RMB internationalization, 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 serve as guests of honour at the opening ceremony.

In addition to the symposium, about 30 Hong Kong service providers and start-ups will showcase their products and solutions in the Business Support Zone and InnoVenture Salon. One-on-one business consultations and on-site business matching will be used to facilitate deals between Malaysian and Hong Kong companies, giving participants a more practical setting to explore partnerships, service needs, and market entry options. Around 100 government officials, business leaders, and professionals from sectors including finance, innovation and technology, and media will travel to Malaysia to explore opportunities.

For more information, visit the TBTHK symposium page: