Over 80pc of mainland firms favor HK as service hub amid overseas expansion plans

A survey by the Hong Kong Trade Development Council (HKTDC) found a strong intent among mainland enterprises to expand overseas, with 82 percent planning to scale up existing foreign operations and 63 percent looking to explore new markets.

A dominating 94 percent of respondents intend to develop business in Belt and Road (B&R) markets, the survey shows, with 91 percent specifically favoring the Association of Southeast Asian Nations (ASEAN) region.

Compared to 2023, overall global expansion intentions have increased as companies pursue more diversified markets. Interest in the Middle East rose from 33 percent to 46 percent, while interest in Latin America grew from 17 percent to 34 percent.

Meanwhile, 48 percent of firms intend to expand into advanced European markets, and 47 percent are targeting North America.

To navigate the challenges of "going global," 83 percent of surveyed companies chose Hong Kong as their preferred professional service platform, placing it ahead of mainland China and Singapore.

HKTDC Director of Research Bruce Pang Ming explained that mainland companies are shifting their strategies from simple market expansion to supply chain integration, cross-border investment, and high-value-added business, which is driving up demand for professional services.

He added that the upcoming Belt and Road Summit in September will serve as an effective platform to further facilitate these cross-regional business partnerships.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓