Ninety-four per cent of 2,015 mainland enterprises surveyed by the Trade Development Council said they intended or planned to enter Belt and Road countries and regions, up from 73 per cent at the earlier comparison point three years ago. The findings point to a growing potential role for Hong Kong in supporting mainland companies’ international expansion, although the survey measured intentions or plans rather than confirmed market entry.
Hong Kong was selected by 83 per cent of respondents as their preferred option for expanding overseas. It ranked ahead of mainland platforms, chosen by 78 per cent, and Singapore, selected by 31 per cent.
The survey found that 91 per cent of respondents prioritised expansion in Asean. The markets of interest included Singapore, Vietnam, Thailand and Malaysia. More than 40 per cent also selected developed European countries as a target, according to Star Headline.
Trade Development Council representatives said Hong Kong could serve as a “super connector” and “super value-adder” for companies seeking to expand internationally. They said the city’s financing, risk-management and environmental, social and governance-related services could help meet those companies’ needs.
TDC representatives also said surveyed companies generally viewed the effects of US-related or similar political issues on their businesses as relatively mild. They said respondents anticipated that improving China-US political conditions could further reduce the significance of such uncertainty; this was presented as the companies’ reported view, rather than a confirmed assessment of future conditions.
The TDC is scheduled to hold the 11th Belt and Road Summit on September 9 and 10. Its programme will include sessions focused on companies going global, providing a forthcoming forum on the international expansion plans identified in the survey.