{
  "id": 1711162,
  "title": "82% of Chinese firms eye overseas growth, with Hong Kong top service support choice",
  "url": "https://urgent.news/2026/08/18/82-of-chinese-firms-eye-overseas-growth-with-hong-kong-top-service",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-18T12:53:51.000Z",
  "source": {
    "name": "South China Morning Post - Hong Kong",
    "slug": "south-china-morning-post-hong-kong",
    "url": "https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3364463/82-chinese-firms-eye-overseas-growth-hong-kong-top-service-support-choice"
  },
  "original_language": "en",
  "account": "84% of surveyed Chinese companies intend to expand their overseas presence, with Hong Kong emerging as their preferred destination for professional services support, according to the Trade Development Council (TDC). The council's poll, conducted among 2,015 mainland enterprises, revealed that 82% planned to expand their existing overseas operations, while 63% aimed to establish new business activities abroad. The trade council's survey observed a significant increase in interest in Belt and Road countries, from 73% in 2023 to 82% in 2024. Deputy director of research Chu Wing-chor explained that many businesses align with China's national strategy by targeting these regions. Hong Kong is the top choice for professional services platforms, with 91% of respondents prioritising expansion in ASEAN markets, particularly Singapore, Vietnam, Thailand, and Malaysia. The survey also indicated a growing interest in established economies, with 48% of respondents aiming for Europe and 47% targeting the United States and Canada. The Middle East saw a 13% increase, while Latin America saw a doubling. When discussing their primary concerns, companies emphasized competition from other regions, geopolitical tensions, rising costs at home, and US trade policy uncertainties. Manufacturers were particularly concerned about increased costs, while service industry enterprises focused on market competition. Over 65% of manufacturers cited rising domestic labour, production, and transportation expenses, while service industry companies prioritised competitive pressures. Chu stated that most enterprises aim to develop two to three overseas business functions. Hong Kong's professional services sector is crucial for supporting these overseas expansions, with 83% of respondents choosing it as their first-choice service hub, offering expertise in marketing, legal, accounting, financing, risk management, and supply chain management.",
  "summary": "More than 80 per cent of surveyed mainland Chinese companies plan to grow their overseas presence, with Hong Kong listed as their top choice for a professional services platform to support expansion, the Trade Development Council (TDC) has found. The council’s survey, published on Tuesday, also showed that about 94 per cent of respondents were eyeing countries in the Belt and Road Initiative for…",
  "key_points": [
    "84% of Chinese firms plan to expand overseas, with Hong Kong as top choice for professional services",
    "Belt and Road countries interest surged from 73% in 2023 to 82% in 2024",
    "Hong Kong preferred for ASEAN expansion, 91% prioritize Singapore, Vietnam, Thailand, Malaysia"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "South China Morning Post",
        "title": "82% of Chinese firms eye overseas growth, with Hong Kong top service support choice",
        "url": "https://urgent.news/2026/08/18/82-of-chinese-firms-eye-overseas-growth-with-hong-kong-top-service-1714550",
        "published": "2026-08-18T12:53:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}