Hong Kong firms are showing a strong preference for expansion into mainland China and ASEAN nations, according to a survey by United Overseas Bank. The survey, which questioned 557 business owners and executives from small to large-sized enterprises, revealed that 70% of firms are interested in international expansion. Half of the respondents preferred the Chinese mainland, while 39% leaned towards ASEAN countries like Singapore, Thailand, and Vietnam. Despite challenges, 60% of the participants maintained a positive outlook for this year. However, 83% reported enduring inflationary pressures, including higher operating and raw material costs. Meanwhile, another survey showed a declining interest in cross-border financial products among customers from both the mainland and Hong Kong.
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