Among globally-minded businesses, 82% plan to expand existing overseas operations, 63% focus on developing new overseas activities, 54% aim to enhance overseas sourcing, 47% plan to expand sales networks, and 36% intend to boost technology cooperation. These figures underscore the growing demand for professional services as companies extend along global value chains.

Belt and Road markets gain prominence

The survey reveals that 94% of respondents are interested in developing business in Belt and Road Initiative (BRI) markets, a sharp rise from 73% in 2023. ASEAN remains a priority, with 91% planning expansion, particularly in Singapore (49%), Vietnam (46%), Thailand (44%), and Malaysia (41%). Interest in the Middle East jumped from 33% to 46%, while Latin America interest doubled to 34%. Advanced markets in Europe (48%) and North America (47%) also remain key targets.

Bruce Pang, Director of HKTDC Research, noted that Hong Kong’s unique connectivity and expertise make it the first-choice professional services hub for Mainland enterprises. He added that the upcoming Belt and Road Summit will bolster cross-regional cooperation and help businesses find ideal partners.

Challenges and evolving strategies

Mainland enterprises face uncertainties from US trade policy changes, intensified competition (61%), geopolitical tensions (55%), rising domestic costs (51%), and tariff barriers (50%). To mitigate these, companies are improving production efficiency (60%), managing overseas risks (57%), and controlling costs (57%). Wing Chu, Deputy Director of HKTDC Research, highlighted that most firms plan to develop two to three overseas business functions, requiring robust professional support.

Hong Kong’s leading role

Hong Kong is the preferred services platform for 83% of surveyed enterprises, followed by the Chinese Mainland (78%) and Singapore (31%). Services sought include marketing, legal and accounting advisory, financing, risk management, supply chain management, R&D, and ESG support. The city’s international business environment, legal system, and talent pool underpin its position.

The National 15th Five-Year Plan supports Hong Kong’s integration into national development, and the HKSAR Government’s GoGlobal Task Force, launched in October 2025, further reinforces its role as a go-global services platform.

Belt and Road Summit 2026

The 11th Belt and Road Summit, jointly organized by the HKSAR Government and HKTDC, will take place on 9-10 September at the Hong Kong Convention and Exhibition Centre. Under the theme “Advancing High-Quality Development • Embarking on a New Journey,” it will feature a “GoGlobal Chapter” with breakout sessions on overseas expansion and Hong Kong’s professional services, a “GoGlobal Connect” zone, and a business mission to Nansha, Guangzhou, offering insights into the Greater Bay Area.

The Summit serves as a premier platform for policy dialogue, business networking, and deal-making, helping enterprises capture opportunities in Belt and Road and emerging markets through Hong Kong.

The competition serves as a platform to accelerate the transition of lab-based technologies to real-world construction sites, fostering collaboration among universities, research institutions, global customers, supply chain partners, and technology companies. It features three tracks: Professional Contest, Customer Co-Creation, and Open Challenge.

Professional Contest and Customer Co-Creation Tracks

The Professional Contest track is divided into an Enterprise Group for unlisted companies and a Team Group. It invites AI-driven solutions across three dimensions: AI + Product, covering innovative complete-machine configurations, humanoid intelligent architectures, and new-energy digital-intelligent hardware ecosystems; AI + Worksite Scenarios, focusing on autonomous operations, multi-machine coordination, and energy-replenishment models for mining, earthmoving, and agriculture; and AI + Operations, which includes AI agents for requirements analysis, document generation, and customer interaction.

The Customer Co-Creation track seeks practical solutions to frontline operational challenges in mining, earthmoving, and agriculture, addressing equipment packages, full-lifecycle operation and maintenance, intelligent assistance, and unmanned operations.

Open Challenge and Technical Targets

The Open Challenge track presents three technical challenges with specific performance targets: Autonomous Excavation under Complex Material Conditions, requiring a task success rate of at least 95%; Multi-Sensor Fusion Perception in High-Dust Environments, with recognition accuracy of at least 97%; and Battery State-of-Health assessment under heavy-duty operating conditions, with an SOH estimation error of no more than 3%.

The competition is hosted by the Torch High Technology Industry Development Center of the Ministry of Industry and Information Technology, the Industry and Information Technology Department of Jiangsu, the Jiangsu Education Department, the Xuzhou Municipal People’s Government, the China Machinery Industry Federation, and the China Construction Machinery Association. XCMG is among the organizers.

Support and Registration

Participating projects will receive support in commercialization, capital, talent attraction, and sustained incubation, helping them move from the competition arena to the marketplace. Registration is open through September 15, with project submissions due by September 25 (Beijing Time). Interested parties can register via the China Innovation & Entrepreneurship Competition website or XCMG’s website.

Open-Source AI Leadership

China has become a major source of open-source large models, with cumulative downloads exceeding 10 billion. The release of Kimi K3, an open-source model with 2.8 trillion parameters, marks the largest open-source model globally by parameter scale. These models are not only driving domestic demand but also making advanced technologies accessible worldwide through competitive cost-performance ratios.

China has proposed the AI+ International Cooperation Initiative and launched an action plan on AI cooperation and development, covering eight areas including sharing open-source AI ecosystems and promoting coordinated rules and standards. The country also unveiled Fenghe, an open-source large language model, further solidifying its role in open-source AI innovation.

Safety and Risk Management

China emphasizes that AI must remain under human control. The Global AI Governance Initiative includes proposals on risk assessment, classification, and ethical guidelines. China has released versions 1.0 and 2.0 of its AI safety governance framework, integrating safety requirements throughout model development, deployment, and application. The Global AI Governance Action Plan identifies safety and controllability as core principles.

Inclusiveness and Cultural Exchange

China’s approach to AI governance reflects a tradition of inclusiveness and mutual respect. The “Cultural Interactions Engine” connects world cultural heritage sites, serving users in more than 170 countries. At the Milan-Cortina 2026 Winter Olympics, the Qwen large language model became the first official AI model in Olympic history. Chinese and Malaysian companies have established an AI multilingual intelligent dubbing and translation center supporting over 130 languages.

Global Cooperation and Development

The World AI Cooperation Organization was established during the 2026 WAIC, with 38 countries as founding members. It is the first intergovernmental international organization dedicated to AI. China has hosted AI capacity-building workshops and launched the Belt and Road Special Cooperation Program on AI Science, Technology and Innovation. Over the next five years, China will provide 5,000 AI training opportunities for developing countries and establish international AI application cooperation centers with ASEAN, the Arab League, the African Union, and other regional organizations.

China’s AI sector is entering a period of unprecedented development, driven by core technology breakthroughs and a thriving innovation ecosystem. The country remains committed to inclusiveness, mutual benefit, and win-win cooperation, working with global partners to address challenges and create a better future for humanity.

The gathering attracted nearly 200 guests from both countries, representing sectors such as trade, education, culture, automotive manufacturing, and legal services. Attendees included officials, business leaders, and media representatives from Xinhua News Agency, Sin Chew Daily, and Together Media, among others.

Chongqing’s Role in China-Malaysia Economic Ties

Chongqing, a major municipality in southwest China, has positioned itself as a key hub for trade and logistics, particularly through initiatives like the New International Land-Sea Trade Corridor. This corridor connects China’s western regions to ASEAN countries, enhancing trade flows and investment opportunities. The event in Kuala Lumpur underscored Chongqing’s commitment to fostering international partnerships.

Malaysia is one of China’s significant trading partners within ASEAN, and Chongqing has been actively seeking to boost bilateral trade and investment. The promotional event provided a platform for Malaysian businesses to explore opportunities in Chongqing’s manufacturing, technology, and services sectors.

Opportunities in Chongqing’s Opening-Up

Chongqing’s continued opening-up policies have created a favorable environment for foreign investment, with incentives in areas like advanced manufacturing, digital economy, and green energy. The city’s strategic location along the Yangtze River and its robust infrastructure make it an attractive destination for companies looking to access China’s vast domestic market.

During the event, Chongqing officials highlighted the city’s progress in innovation and industrial upgrading, emphasizing its potential as a gateway for ASEAN businesses entering China. The discussions also covered cultural and educational exchanges, reflecting the broader scope of Chongqing-Malaysia relations.

The event concluded with a call for stronger collaboration, with both sides expressing optimism about future partnerships. As Chongqing continues to open up, it is likely to play an increasingly important role in China-Malaysia economic cooperation.

SOURCE: iChongqing

XTransfer Reaches 1 Million Enterprise Clients

Bill Deng, founder and CEO of XTransfer, told attendees that SMEs are stabilisers of globalisation, showing remarkable resilience in the face of de-globalisation and logistics volatility. He noted that SMEs are adjusting market strategies more agilely while improving pricing power and operational quality. Deng emphasized that the company has served over 1 million enterprise clients since its founding, and continues to expand its local collection and settlement capabilities globally. The platform’s Local Account service now covers nearly 60 countries and regions across Africa, Asia, Latin America, the Middle East, Europe, the Americas, Australia, and New Zealand, allowing buyers to pay in local currencies and boosting capital turnover for exporters.

AI and Risk Control Enhance Compliance

To address SMEs’ needs for security, compliance, efficiency, and cost optimisation, XTransfer has increased investment in fintech, scaling AI applications in risk control and business processes. The company has built a unified global B2B cross-border trade settlement and risk management system. According to CIC, TradePilot is the world’s first and most advanced AI model for B2B cross-border trade payments. With 72 AI agents embedded in its review workflow, covering KYC onboarding, transaction authenticity verification, and ongoing AML monitoring, TradePilot delivers industry-leading performance in risk control accuracy and user experience.

The summit underscored the growing importance of digital intelligence in cross-border finance for Chinese SMEs, as they seek to expand globally amid shifting trade dynamics. XTransfer’s focus on AI-driven compliance and local payment solutions reflects broader trends in China’s foreign trade sector, where technology is playing an increasingly central role.

Dr. Kgosientsho Ramokgopa, South Africa’s minister of electricity and energy, stated that the country is entering a decisive decade in its energy market transformation. He emphasized that the IRP 2025 investment pipeline would not only add generation and transmission capacity but also support lasting infrastructure, industrial development, and shared prosperity through long-term partnerships.

POWERCHINA’s Role in South Africa’s Energy Transition

Since beginning operations in South Africa in 2008, POWERCHINA has contributed to the country’s power and water infrastructure. Wang Xiaojun, president of POWERCHINA, expressed readiness to work with government agencies, financial institutions, and industry partners to move projects from planning to implementation, creating lasting value through local procurement, skills development, and supply chain cooperation.

Under IRP 2025, South Africa plans to add about 105 GW of new generation capacity by 2039, supported by a diversified mix of solar, wind, battery storage, natural gas, and nuclear power. The country also intends to build approximately 14,500 kilometers of transmission infrastructure, requiring an estimated R440 billion in transmission investment over the next decade.

POWERCHINA’s Existing Projects in South Africa

POWERCHINA’s experience in South Africa provides a practical foundation for its participation in the country’s next phase of infrastructure development. The company’s completed and ongoing wind, solar photovoltaic, and concentrated solar power projects in South Africa have a combined capacity of 1.9 GW. Its battery storage projects under construction have a combined capacity of 1.9 GWh.

Among these projects is the 100 MW Redstone concentrated solar power project, South Africa’s largest tower-based molten salt solar thermal facility. The project combines solar generation with thermal energy storage to provide dispatchable renewable power. POWERCHINA is also participating in the Oya hybrid facility project, which integrates wind, solar, and battery storage on a single grid-connected platform to support a more flexible and reliable power system.

Water Infrastructure and Local Development

Beyond energy generation, POWERCHINA is contributing to water infrastructure that supports electricity supply, industrial activity, and local communities. The Mokolo-Crocodile Water Augmentation Project Phase 2A is a major water infrastructure project under South Africa’s National Water Resource Strategy. Once completed, it is expected to deliver 75 million cubic meters of water annually, securing water supplies for the Medupi and Matimba power stations, supporting development in the Waterberg mining area, and providing water to industrial facilities, municipalities, and communities along the route.

POWERCHINA has also incorporated local procurement, subcontracting, and skills development into its project delivery in South Africa. Its projects have created thousands of local jobs and supported the development of local suppliers. At the Redstone project, the company established a welding training center and worked with a local university to provide technical education linked to concentrated solar power. These initiatives help strengthen local capabilities needed to support South Africa’s growing energy sector over the long term.

The conference is expected to lay the groundwork for a proposed South Africa-China Energy Investment Partnership. POWERCHINA will continue working with South African partners to advance reliable energy and water infrastructure that supports industrial development and sustainable growth.

The symposium featured over 200 government and business leaders, start-up entrepreneurs, and professional service providers from Hong Kong, marking a historic high. More than 300 tailored business matching meetings were arranged to help Malaysian firms find suitable Hong Kong partners for international growth. The event also saw the signing of 10 memoranda of understanding (MoUs) between Hong Kong service providers and Malaysian businesses, underscoring deepening collaboration.

Hong Kong as a strategic gateway

In his welcome remarks, HKTDC Chairman Prof Frederick Ma emphasized the value of trusted connections amid geopolitical uncertainty and technological change. He noted that TBTHK, first launched in 2011, serves as a platform for expanding networks and forging new partnerships. Hong Kong’s Secretary for Commerce and Economic Development, Algernon Yau, highlighted Hong Kong’s expertise in helping Malaysian companies navigate the Chinese mainland market, citing the city’s long experience in trade facilitation. He also mentioned the GoGlobal Task Force, established last year to support mainland enterprises in going overseas, including into Malaysia.

Malaysia’s Minister of Transport, YB Loke Siew Fook, stressed the importance of connectivity, noting that Kuala Lumpur and Hong Kong are under four hours apart by flight and share the same time zone. He pointed to Hong Kong International Airport’s status as a major cargo gateway and Port Klang’s strategic location on global shipping lanes, making the corridor vital for time-sensitive exports like electronics and semiconductors. Loke also expressed hope for more events of TBTHK’s caliber in Malaysia to foster business discussions and future collaborations.

Key sessions and themes

The programme included a plenary session chaired by Lincoln Pan, CEO of Jardine Matheson Holdings, with speakers such as Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing, and Tan Sri Dato’ David Chiu of Far East Consortium. They discussed Asia’s evolving business landscape and how companies can capture emerging regional opportunities. Four thematic sessions explored areas of collaboration, including the growing role of the Renminbi in trade and investment, with Hong Kong positioned as the world’s leading offshore RMB hub. Another session, supported by Hong Kong Cyberport, focused on green finance and climate technology, highlighting Hong Kong’s role in connecting green capital and innovation across the region.

A session co-organized with Invest Hong Kong examined strategic resilience, showing how companies can use Hong Kong as a base for regional expansion amid changing global dynamics. Another, co-organized with the Hong Kong-Shenzhen Innovation and Technology Park, addressed accelerating the global expansion of life and health technologies through ecosystem collaboration. These sessions reflected Malaysia’s growing strategic importance in ASEAN and the evolving priorities of businesses in the region.

Exhibition and cultural highlights

The event featured an InnoVenture Salon where 30 Hong Kong service providers and start-ups showcased their products, alongside a Business Support Zone. Over 300 one-on-one consultations and business matching sessions facilitated deals between Malaysian and Hong Kong companies. The Hong Kong Tourism Board also brought a taste of the city’s culinary culture, offering samples from Chinesology, a Muslim-friendly fine-dining restaurant, and Bar Leone, an award-winning bar, highlighting Hong Kong’s creativity and hospitality.

The symposium was part of the Hong Kong SAR Government’s Economic Trade and Express initiative, which encourages Hong Kong SMEs and startups to explore overseas business opportunities while attracting foreign investment into Hong Kong. The event concluded with a luncheon hosted by Mr Yau and Malaysia’s Deputy Minister of Finance, YB Liew Chin Tong, attended by over 300 prominent guests from government and business sectors.

In Jiangkou County, Tongren, stands what local authorities describe as the world’s largest single-site matcha refining facility. Fully automated production lines process the finely ground green tea for consumers at home and abroad. According to local figures, one in every five cups of matcha consumed worldwide is produced in Tongren. The city’s matcha products are exported to more than 50 countries and regions, with the industry generating an output value of 750 million yuan (US$105 million).

For Mauro, a young visitor from Brazil, the industry raised a broader question: how can globally competitive production create opportunities for rural communities? Tongren’s matcha industry works with 73 upstream partner companies and around 13,300 hectares of tea plantations. Financial and technical support for growers, alongside links between market demand and production, helps connect local farmers with a wider supply chain.

Beyond Matcha: Diverse Exports

Matcha is not the only Guizhou product reaching international markets. In Jinping County, Qiandongnan Miao and Dong Autonomous Prefecture, local industry figures suggest that one in every 10 shuttlecocks in circulation worldwide is made there. Production is supported by a supply chain extending from goose farming and feather sorting to intelligent manufacturing.

“I hadn’t realised that some of the key materials used in these vehicles come from Guizhou,” said Thai visitor Nim Jiratchaya, whose family owns a Chinese electric vehicle. Guizhou developed an advanced functional materials industry serving sectors including electric vehicles and renewable energy.

Digitalization and Infrastructure

Digitalization is also changing traditional manufacturing. Guizhou Tyre’s intelligent plant was the first in China’s tyre industry to join the World Economic Forum’s Global Lighthouse Network, which recognizes factories deploying advanced technologies at scale. The facility also uses photovoltaic power, purchased renewable electricity, and waste-heat recovery to reduce emissions.

Infrastructure played another role in connecting the mountainous province with wider markets. Nearly half of the world’s 100 highest bridges are located in Guizhou, helping overcome terrain that has long complicated transport and economic connectivity.

For the visiting Gen Z group, the journey offered a view of China beyond its major cities and coastal manufacturing centres. Tea, badminton equipment, advanced materials, and tyres illustrate how specialised manufacturing, infrastructure investment, and local resources are connecting communities in China’s mountainous southwest with national and global markets.

Operated by Uzbekistan Airways, the new route is the first direct passenger air service between Shenzhen and Central Asia, and also the airport’s first newly launched international route of 2026. According to the airport, the service will run once a week on Mondays. Flights depart Tashkent at 1:20 a.m. local time and arrive in Shenzhen at 7:40 a.m. Beijing time, while outbound flights leave Shenzhen at 9:10 a.m. Beijing time and land in Tashkent at 4:20 p.m. local time.

The launch comes as China and Uzbekistan continue to deepen cooperation under the Belt and Road Initiative, especially in areas such as trade, investment, energy, infrastructure, and people-to-people exchanges. For companies in southern China, the new route provides a more direct air corridor into the Central Asian market, potentially improving business mobility and reducing travel friction for commercial engagement.

Airport authorities said the new service is expected to support both cross-border travel and stronger business links. For Shenzhen-based companies looking to expand their regional footprint, the Tashkent connection may serve as a practical gateway for exploring opportunities in Uzbekistan and the wider Central Asia region.

With the addition of the Tashkent route, Shenzhen Airport now connects to 42 cities in 23 Belt and Road partner countries, underscoring the city’s growing role in international aviation and regional business connectivity.

Event Highlights and China’s Pharmaceutical Strengths

The 2026 edition will feature expanded zones, including pavilions for Traditional Chinese Medicine and showcases for next-generation active pharmaceutical ingredients, underscoring China’s dual strengths in heritage ingredients and advanced pharmaceutical advancements. New exhibitors and specialized areas for medical aesthetic packaging, frontier technologies, and smart lab spaces will be introduced, enhancing the event’s comprehensive offerings. These additions align with China’s push for innovation and modernization in its pharmaceutical sector, which has seen rapid growth in recent years.

Attendees will have access to Asia’s largest concentration of pharmaceutical machinery manufacturers and cutting-edge production technologies. Live equipment demonstrations, technical seminars, and networking programs, such as the Hosted Buyer Matchmaking Program and plant visits, are designed to facilitate direct connections between international buyers and leading suppliers. These activities support China’s role as a global hub for pharmaceutical building blocks, including APIs, natural extracts, machinery, laboratory instruments, packaging, biotech, and Traditional Chinese Medicine.

Educational and Networking Opportunities

More than 100 conferences and workshops, led by over 700 experts and officials, will provide attendees with market intelligence and technical expertise. These sessions focus on rapid innovation areas, such as investigational drugs, biotech, and machinery developments, positioning participants at the forefront of industry trends. The event’s growth mirrors the pace of innovation in China, solidifying its reputation as a destination for sourcing, supply chain optimization, and strategic partnerships in the pharmaceutical field.

The event’s scale and scope highlight China’s pharmaceutical powerhouse status, offering unparalleled opportunities for global engagement. With its focus on both traditional and modern pharmaceutical elements, CPHI & PMEC China 2026 aims to support the resilience and forward-looking vision of the industry, contributing to China’s economic and trade dynamics in the global market.