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Hong Kong's role as a global gateway for mainland Chinese firms has proven crucial in their expansion efforts, but experts question whether the city can maintain its strategic advantage as these businesses learn to stand on their own two feet. In the past year alone, 340 mainland enterprises have leveraged Hong Kong's GoGlobal Task Force to venture into Southeast and Central Asia, relying on the city's cultural insights, regulatory expertise and business networks to navigate unfamiliar territories.

Runjian Corporation, a Shenzhen-based digital infrastructure provider, exemplifies this trend. To successfully enter the Middle East and Southeast Asia, the firm had to go beyond simply transplanting its technology and adapting to local data privacy laws. Instead, Runjian had to reevaluate its working practices, incorporate local cultural norms and forge genuine connections within each market.

Vice-president and president of Runjian's overseas business group, Athena Zhao Hua, emphasized the importance of aligning with local rhythms and integrating seamlessly into each market's dynamics.

While Hong Kong has been instrumental in facilitating this expansion, the city's long-term viability as a "superconnector" is being put to the test. According to Ryan Ip Man-ki, executive director of the Our Hong Kong Foundation's Public Policy Institute, the true challenge lies in the ability of these enterprises to establish international functions, recruit talent and capital, and continue to leverage Hong Kong as they grow.

Ip argued that the focus should shift from merely counting the number of supported enterprises to examining the depth and durability of the city's involvement in their expansion strategies.

In an exclusive interview with the South China Morning Post, Secretary for Commerce and Economic Development Algernon Yau Ying-wah highlighted the diverse range of industries represented among the 340 assisted firms, including logistics, construction, finance and technology. He noted that about 30 percent of these businesses aimed to establish corporate treasury centers in Hong Kong to access capital or engage in offshore trading.

Yau stressed that Hong Kong's unique position as a bridge between East and West has been instrumental in helping mainland enterprises overcome cultural barriers and regulatory hurdles.

To support these firms' internationalization efforts, Hong Kong's government has established a comprehensive network of Economic and Trade Offices spread across 68 cities, covering 129 economies. This network provides essential information on legal requirements, business practices, culture, communication and professional services.

In addition, the government's investment promotion arm, InvestHK, facilitates company visits to Hong Kong, arranges meetings with potential partners and assists firms in mapping out their internationalization strategies and localizing their operations. The Trade Development Council has also created a GoGlobal Cross-sectoral Professional Services Platform, offering Hong Kong-based service providers in areas such as law, accounting and testing to support overseas expansion.

Yau acknowledged the challenge of matching mainland firms with suitable international markets, emphasizing the importance of carefully selecting the right enterprises for specific locations at the right time. He stressed that while many mainland companies are eager to expand overseas, the city must be selective in choosing the appropriate firms for each market to avoid wasted effort and resources.

Ultimately, Hong Kong's overseas offices are working to identify local market needs and connect suitable mainland enterprises with Hong Kong-based partners, enabling them to establish a presence, raise capital and recruit local talent before expanding abroad. However, the city's long-term success in maintaining its strategic role as a global connector remains uncertain, as these enterprises gradually learn to navigate international waters independently.