82% of Chinese firms eye overseas growth, with Hong Kong top service support choice

82% of Chinese firms eye overseas growth, with Hong Kong top service support choice Trade Development Council survey also shows 94 per cent of respondents are eyeing countries in Belt and Road Initiative for expansion 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 initiative refers to Beijing’s ambitious global infrastructure and trade programme, which launched in 2013 and spans more than 150 countries. The council surveyed 2,015 mainland enterprises for the poll, with 82 per cent saying they planned to expand their existing overseas operations and 63 per cent looking to develop new overseas business activities. “Expanding overseas has become a compulsory option for mainland enterprises amid geopolitical tensions and rising costs [among other factors],” said Cherry Yeung Chui-lai, a senior economist with TDC. Interest in belt and road countries recorded a substantial uptick from the council’s 2023 survey, in which 73 per cent of polled mainland enterprises mentioned plans to expand into such markets.