Mainland Chinese enterprises are increasingly turning their attention to the Association of Southeast Asian Nations (ASEAN) as they seek 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 results show 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 recognize the growing complexities of operating across different markets. The survey found that 83% of respondents planning to expand into ASEAN indicated an interest in using Hong Kong’s professional services to support their regional development. Hong Kong’s role as a superconnector and super value-adder is reinforced by strong demand for its legal, accounting, marketing, e-commerce, supply chain management, financing, and risk management services.
Among ASEAN markets, Malaysia is attracting significant interest from Mainland enterprises, particularly 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 strengthening the country’s position as an advanced manufacturing, technology, and services hub in ASEAN.
Economic ties between Hong Kong and Malaysia have deepened. 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 foreign direct investment of US$34.8 billion.
Amid 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 bring together business leaders, investors, innovators, professional service providers, and policymakers from Malaysia and Hong Kong. Discussions 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 be the guests of honour at the opening ceremony.
In addition to the symposium, around 30 Hong Kong service providers and start-ups will exhibit their products and solutions in the Business Support Zone and InnoVenture Salon. One-on-one business consultations and on-site business matching will facilitate deals between Malaysian and Hong Kong companies. A group of 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.
