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'More mainland firms eye Belt and Road expansion'

rthk.hk · 17h · first reportShare

A rising number of mainland companies are eyeing expansion in the Belt and Road region as the wave of enterprises "going global" entered a new phase, according to a survey. The Trade Development Council (TDC) surveyed 2,015 firms across the country and found that 94 percent revealed plans to tap into Belt and Road markets, up from 73 percent recorded three years ago. The TDC noted that 91 percent of the respondents prioritise further expansion in Asean, especially in Singapore, Vietnam, Thailand and Malaysia. The survey also found that 83 percent of the firms saw Hong Kong as their top choice to expand overseas, followed by 78 percent that favoured platforms on the mainland and 31 percent opting for Singapore. Speaking at a press conference, Wing Chu, deputy director of research at the TDC, noted many companies are adopting comprehensive strategies to diversify their markets, even though they believe trade uncertainties to have a limited impact. "We still observe that the majority said