LI & Fung, one of the oldest trading companies in Hong Kong, will make further inroads into Asia by setting up two more export offices in China and its first in Vietnam by the end of next month. Group managing director William Fung Kwok-lun said offices would be set up in Changsha and Shantou, bringing the number of export offices in China to six. ''China is the single most important factor in our kind of business. That's why we're building more offices there,'' Mr Fung said. The firm now has offices in Shanghai, Shenzhen, Zhanjiang and Guangzhou, the sources of more than 30 per cent of its products. Branch offices will be added in Shanghai, which is hard-pressed to handle the existing volume of work, as it has to cover business from further north. The company is looking at various cities in which to extend its northern operations. Qingdao, Beijing, Tianjin will be added to its network by next year. Wuhan and Fuzhou are also being looked at. Mr Fung said while China was Li & Fung's key market, it was not neglecting other parts of Asia. For example, an application to open an office in Ho Chi Minh City has been filed. This would complement offices in Macau, Malaysia, South Korea, Taiwan, Sri Lanka, Singapore, Indonesia and Thailand. ''We're tapping into all areas which are good for production of consumer goods,'' Mr Fung said. He added that while Japan might be a bigger market for consumer goods, it would be other Asian countries that would emerge as key suppliers of consumer products.