94% of mainland firms eye Belt and Road markets, survey shows
SingTao · 2 SOURCESabout 1 hour ago2 MIN
Summary
The Hong Kong Trade Development Council released findings on September 18 from its latest survey on mainland Chinese companies' global expansion strategies, interviewing 2,015 enterprises with international operations . The survey shows 94% of respondents intend to develop business in Belt and Road countries and regions, a notable increase from 73% in 2023, with 91% focusing on ASEAN markets including Singapore, Vietnam, and Thailand . Meanwhile, 83% of surveyed companies selected Hong Kong as their preferred service platform for overseas expansion, a substantial rise of 21 percentage points from the previous year's 62% .
Key Points
- 94% of 2,015 surveyed mainland enterprises plan to expand into Belt and Road countries, up sharply from 73% in 2023
- 91% of companies prefer ASEAN markets (Singapore, Vietnam, Thailand), while over 40% target advanced European economies
- Hong Kong chosen as preferred overseas service platform by 83% of respondents, surpassing mainland cities (78%) and Singapore (31%)
- Companies require professional services including marketing, legal and accounting, financing, risk management, and ESG support
- Pang Ming, the Council's Head of Research, notes companies are adopting more comprehensive and forward-looking global strategies
Why It Matters
Hong Kong's emergence as the top choice for mainland enterprises seeking international growth reinforces its positioning as a vital gateway that connects mainland businesses with global markets . The Belt and Road Initiative continues gaining momentum, creating significant opportunities for Hong Kong's professional services sector to serve as a bridge between mainland companies and overseas partners.
Hong Kong's emergence as the top choice for mainland enterprises seeking international growth reinforces its positioning as a vital gateway that connects mainland businesses with global markets . The Belt and Road Initiative continues gaining momentum, creating significant opportunities for Hong Kong's professional services sector to serve as a bridge between mainland companies and overseas partners.