Mainland Chinese enterprises are increasingly turning their attention to Southeast Asia as part of their internationalisation strategies, with a new survey by the Hong Kong Trade Development Council (HKTDC) showing that 91% of respondents plan to develop business in ASEAN. Malaysia has emerged as a key destination for both manufacturing and services companies, particularly in semiconductors, AI and new energy sectors, according to preliminary findings released ahead of the Think Business, Think Hong Kong event in Kuala Lumpur on 11 August.
The survey, conducted by HKTDC Research, underscores 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, noted that enterprises are not only expanding sales networks but also establishing regional supply chains and investing in higher value-added activities. This trend is driving strong demand for Hong Kong's professional services, with 83% of surveyed firms expressing interest in using Hong Kong-based support for legal, accounting, marketing, e-commerce, supply chain management, financing and risk management needs.
Malaysia's appeal is underpinned by its mature industrial ecosystem, skilled workforce and competitive business environment. 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. Economic ties between Hong Kong and Malaysia have deepened, with Malaysia being Hong Kong’s third-largest trading partner among ASEAN member states in 2025. By end of 2025, Hong Kong was Malaysia’s second-largest investor after Singapore, with cumulative FDI of US$34.8 billion.
The HKTDC's flagship overseas promotional event, Think Business, Think Hong Kong (TBTHK), will bring together business leaders, investors and policymakers from Malaysia and Hong Kong on 11 August at Shangri-La Kuala Lumpur. The full-day symposium will cover RMB internationalisation, sustainability, green innovations, healthcare solutions and Hong Kong's role as an international financial centre. 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 guests of honour.
Around 30 Hong Kong service providers and startups will showcase their products in the Business Support Zone and InnoVenture Salon, with one-on-one business consultations and on-site matching to facilitate deals. A delegation of about 100 officials and business leaders from sectors including finance, technology and environmental services will travel to Malaysia for networking and partnership opportunities.
