'More mainland firms eye Belt and Road expansion'

A growing number of mainland businesses are looking to expand in the Belt and Road region, according to a recent survey by the Trade Development Council (TDC). The survey of 2,015 companies found that 94 percent plan to tap into Belt and Road markets, up from 73 percent three years ago. Asean is the top priority for further expansion, with Singapore, Vietnam, Thailand, and Malaysia leading the way.

Hong Kong is the favored destination for overseas expansion, followed by mainland platforms and Singapore. TDC deputy director of research Wing Chu noted that many companies are using comprehensive strategies to diversify their markets, despite trade uncertainties having a minimal impact. The political environment between China and the US is improving, and it is expected that business uncertainty effects will become less significant in the future.

Hong Kong's role as a "super connector" and "super value-adder" is well-suited to meet the growing demands of these companies, with support in areas such as financing, risk management, and ESG-related services. The upcoming Belt and Road Summit on September 9-10 will feature sessions on "Advancing High-Quality Development, Embarking on a New Journey."