Chinese Mainland enterprises are accelerating their international expansion at full steam, with many adopting the “ASEAN + technology industry” model to expand their business internationally. They are using Hong Kong as a service platform, complemented by Mainland service support, to navigate overseas markets and explore opportunities according to a recent HKTDC survey.
This article examines the strategic preferences of these surveyed enterprises, and explores why Hong Kong remains uniquely positioned as the premier “go-global” trade and professional services hub.
National Drive for Enterprises to “Go Global”
A striking 95% of Chinese Mainland enterprises surveyed plan to scale their international operations over the next two years. Across all major economic hubs – including the Pearl River Delta (PRD), Yangtze River Delta (YRD), Bohai Rim, and the Central and Western regions – over 90% of enterprises are interested in expanding into overseas markets. This shows that internationalisation has become a core business imperative.
Breaking this down further, 82% plan to expand their existing overseas business, while 63% will explore new foreign markets.
Top Market Destinations: Belt and Road, RCEP, and ASEAN
When choosing international expansion destinations, regions along the Belt and Road Initiative remain the top choice for Mainland enterprises, with 94% of respondents saying that priority would be given to these regions and 91% specifying the ASEAN market.
By comparison, Europe and North America (the US and Canada) are less attractive immediate priorities, with less than 50% planning to expand their business there in the coming two years, reflecting a strategic pivot towards high-growth emerging markets.
Hong Kong: The Preferred "Go-Global" Services Hub
An overwhelming 83% of surveyed enterprises choose Hong Kong professional services to support their international ambitions, meaning that Hong Kong is the premier service platform for Mainland enterprises in this endeavour. Hong Kong offers significant advantages in cross-border business development, legal compliance, and global trade connectivity.
It is worth noting that 78% of enterprises also use services offered by providers in different Mainland provinces and cities, creating a dual-support model. In addition, some enterprises said they would consider using professional services provided by other overseas regions, including Singapore, Germany and the US, to complement their diversified international business planning.
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Go Global FAQ
1. How should businesses choose their first overseas market when going global?
Evaluate market demand, regulatory compliance, competitive intensity, total landing costs (including logistics and tariffs), and political stability. We recommend initiating a pilot entry strategy using test campaigns or limited product lines before full-scale market entry.
2. Is product and language localise required for international expansion?
Yes. Successful international expansion requires localising technical specifications, packaging, compliance labelling, user manuals, and customer support to satisfy local regulatory standards and consumer expectations.
3. What legal and regulatory steps are usually required when operating abroad?
Key steps include foreign entity registration/incorporation, local tax registration, intellectual property protection, securing operating licences, opening corporate bank accounts, and establishing compliant distribution agreements.
