Mainland firms favor Hong Kong professional services for global expansion: survey

More than 60 percent of the Chinese mainland enterprises preferred engaging Hong Kong-based professional service providers to ensure successful international expansion, according to a survey released Tuesday by the Hong Kong Trade Development Council (HKTDC).

Some 90 percent of mainland-based companies plan to expand their level of international business activity in the next one to three years, and more than 70 percent of these firms focused on countries that are Regional Comprehensive Economic Partnership (RCEP) signatories or Belt and Road Initiative (BRI) beneficiaries, the survey showed.

Commenting on the survey findings, Director of HKTDC Research Irina Fan said the survey more than confirms Hong Kong's status as a "super-connector," one uniquely well-positioned to help mainland companies make good on their global expansion plans.

"The city's extensive array of premium financial and professional services and comprehensive international network make it the perfect partner for any business looking to optimize its outcomes within the RCEP region, along the BRI routes or, indeed, pretty much anywhere else in the world," Fan said.

The survey also identified four key areas in which mainland businesses planned to expand overseas operations. The four priority expansion areas appear to be logistics and transport, as singled out by 28.8 percent of respondents, marketing and sales, factories, and overseas procurement.