Accessing ASEAN: How HSBC connects Chinese companies to Malaysian opportunities

Malaysia, with its strategic location and growing economy, presents a highly attractive entry point for Chinese companies looking to expand in Southeast Asia.

At 5.2%, Malaysia’s GDP growth rate in 2025 was the second highest among the five biggest ASEAN economies.¹ The consumer market is a major economic engine, driven by a young and digitally connected population.²

Malaysia is also particularly well placed for Chinese companies that are looking to diversify their manufacturing operations, offering a stable, business-friendly environment and robust infrastructure.

Total trade between China and Malaysia has been growing strongly. Bilateral volumes increased 33% year on year in the first seven months of 2026, according to Malaysian data.³ Imports of goods from China accelerated by 38% to MYR264 billion (USD65.3 billion), driven by an uptick in the electronics sector.

For Chinese businesses looking to enter or expand in the Malaysian market, success means more than simply setting up a factory or starting to sell products in a new market. In an era of shifting trade relationships, success is increasingly determined by how effectively a company integrates into the local economy and grows alongside it.

The expansion of Chinese fast food and beverage chain Mixue in Malaysia demonstrates how companies think deeply about local market needs today – for example, in 2025 Mixue certified 100 new stores with Halal status. HSBC supported Mixue’s expansion, leveraging its local market coverage and digital banking foundation.⁴

For Mixue, Malaysia was an attractive market because of the country’s young population with strong spending power, which created strong demand for its signature offerings of ice cream and fruit teas. The country was not just another overseas market but rather a strategic hub for Mixue’s expansion throughout ASEAN.

Ambitious Chinese businesses are looking for more from their banking partners than financial support. Deep local market access and understanding is increasingly important in planning and executing on a long-term expansion strategy. Region-wide, one-bank connectivity can be a critical advantage, particularly when it comes to cross-border transactions.

HSBC was able to help Mixue to understand local business practices, culture, and regulations. And as the company has expanded through the region, it has been able to rely on HSBC’s region-wide connectivity to support it.

From digital payment solutions that shortened the response time of Mixue’s supply chain in Malaysia from 24 hours to 18 minutes, to navigating multiple e-wallets, clearing practices and compliance requirements throughout ASEAN, HSBC’s expertise in payments and treasury management systems has supported Mixue’s regional ambitions.

Chinese companies like Mixue can work with HSBC’s China Desk Network to establish themselves in overseas markets. The China Desk Network provides access to Chinese-speaking experts with detailed knowledge of local business practices, cultures and legal environments across all industries.

HSBC maintains China Desks in the six biggest ASEAN markets – Singapore, Malaysia, Thailand, Vietnam, Indonesia, and the Philippines.⁵

In ASEAN, the China Desk Network works alongside the ASEAN Desk Network to help customers unlock new opportunities across the region, helping Chinese businesses benefit from our long heritage and rich experience in ASEAN markets.⁶

Mixue, for example, is now established additionally in Singapore, Indonesia, Vietnam, Thailand and Laos, with a total of 4,500 stores in ASEAN and 20,000 employees.

HSBC has been in Malaysia for more than 140 years and is deeply connected to the local economy.

We have a long-standing relationship with Malaysian Investment Development Authority (MIDA), which collaborates with banking partners like HSBC to reduce complexity for customers and accelerate investment decisions.⁷

In 2026, the first overseas factory of Chinese lithium battery manufacturer COSMX began operations in the Malaysian state of Kedah.⁸ HSBC was able to play an active role in discussions with MIDA and with the Kedah state government.⁹

MIDA can also facilitate investment elsewhere in the region, such as via the Johor-Singapore Special Economic Zone (JS-SEZ) on the Malaysian border.¹⁰ For example, in June 2026 MIDA’s Shanghai and Johor offices held an investment mission in China to build engagement with businesses looking for a gateway into ASEAN.¹¹

HSBC’s innovative trade finance solutions include HSBC TradePay¹², available in Singapore and Indonesia as the time of publishing, which enables a customer to draw a loan in order to make timely payments to suppliers, as well as various supply chain finance, receivables finance, and guarantee solutions.

And to reflect today’s need for digital payments flexibility, HSBC Omni Collect offers a one-stop solution for companies’ in-store and e-commerce needs, enabling multiple payment modes.¹³