73% of Hong Kong, Greater Bay Area firms speeding up expansion into Asean: survey
Survey by Hong Kong Trade Development Council and United Overseas Bank also shows 98 per cent of companies plan to keep or expand Asean operations
Nearly three-quarters of enterprises from Hong Kong and other Greater Bay Area cities will speed up their expansion into the Asean market as a primary strategy to mitigate risks from international trade frictions and shifting global supply chains, according to a survey.
The survey and research findings, co-published by the Hong Kong Trade Development Council and Singapore-based United Overseas Bank on Wednesday, also revealed that about 98 per cent of enterprises were planning to keep or expand their operations in the Southeast Asian region.
The survey, carried out from July to August 2025, polled 600 companies based in Hong Kong and five key bay area cities – Guangzhou, Shenzhen, Foshan, Dongguan and Zhongshan.
“With the shifting global supply chain landscape and tariff uncertainties, many Greater Bay Area enterprises are accelerating their Asean engagement not merely as a means of risk diversification, but to capture new growth opportunities in fast-evolving markets,” said Chu Wing-chor, the council’s deputy director of research.
“Hong Kong’s unique positioning as a ‘superconnector’ allows businesses to leverage the city’s comprehensive trade, financial and professional services platform to navigate this transformation efficiently.”
According to the survey findings, 73 per cent of bay area respondents planned to accelerate their business expansion efforts in Asean countries, underlining the region’s significance as a pivotal and increasingly pressing growth driver amid global trade tensions.