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Majority of mainland Chinese firms plan overseas expansion
A Trade Development Council survey of 2,015 enterprises found 63% are also looking to develop new overseas business, with Belt and Road interest rising from a prior year.
More than 80% of surveyed mainland Chinese companies plan to expand their overseas presence, and Hong Kong is their top choice for a professional services platform to support that growth, according to a Trade Development Council survey.
The survey, published by the council on Tuesday, questioned 2,015 mainland enterprises and found 82% say they plan to expand existing overseas operations, while 63% are looking to develop new overseas business.
The Trade Development Council said demand for overseas expansion has intensified amid geopolitical tensions and rising costs, citing commentary from senior economist Cherry Yeung Chui-lai.
It also reported that interest in Belt and Road countries increased, with 73% of firms mentioning plans to expand into those markets in the council’s 2023 survey.