Chinese Firms Overseas Expansion Plans Put Hong Kong First for Services

Chinese firms overseas expansion plans remain strong, with more than 80% of mainland companies intending to increase their international presence and Hong Kong emerging as their preferred professional-services platform, according to a Trade Development Council survey.

Among 2,015 companies surveyed, 82% planned to expand existing overseas operations and 63% intended to establish new businesses abroad.

Belt and Road markets are becoming increasingly important, with 94% targeting countries participating in the initiative, compared with 73% in the council's 2023 survey.

ASEAN remains a particularly important destination, with 91% focusing on existing businesses in markets including Singapore, Vietnam, Thailand and Malaysia.

Interest is also broadening geographically. Some 48% were considering advanced European economies, 47% the US and Canada, 46% the Middle East and 34% Latin America.

Hong Kong's position as the preferred professional-services platform highlights its continuing role in helping mainland companies manage financing, legal, accounting and other requirements associated with international expansion.