To support its rapid global expansion, one of China’s leading diversified conglomerates has turned to the Hong Kong Trade Development Council (HKTDC) to assist it establish an international business headquarters in Hong Kong.

Founded in 1986 in Zhejiang, Transfar Group is a diversified industrial conglomerate with businesses spanning chemicals, new materials, agriculture, logistics and industrial real estate. In 2024, the group’s revenue exceeded RMB140 billion (HK$156 billion), making it the 60^th largest private enterprise in China and among the top 190 companies nationwide.

After several years of active expansion into overseas markets, the Group now serves customers in more than 130 countries and regions. Its annual international sales have reached approximately US$2 billion (HK$15.5 billion), reflecting the strong momentum of its overseas business development.

With the company’s international operations expanding rapidly in recent years, the complexity of managing cross-border taxation, legal compliance and logistics for a full-scale global expansion had become an increasingly pressing concern.

In response, the Group’s senior management formulated plans to establish an overseas business headquarters to coordinate the management of entities, oversee tax compliance, and support the company to acquire and develop overseas businesses, while also enabling the Group’s broader financial investment goals.

After learning about the company’s strategic direction in mid-2025, the HKTDC stepped in with a coordinated series of actions to help the company achieve its objective.

First, the HKTDC assisted the company in liaising with government departments responsible for preferential policies and procedures for large enterprises establishing operations in Hong Kong, and connected the company with chambers of commerce and industry associations to build professional networks and explore potential collaborations.

At the same time, the HKTDC introduced the conglomerate to banking and financial institutions, as well as firms providing accounting, office management, legal and human resource services.

To help the company broaden its business networks, the HKTDC invited senior staff to attend its flagship events in Hong Kong, including the Belt and Road Summit, Asian Financial Forum, Asian Logistics, Maritime and Aviation Conference and Asia Summit on Global Health.

Such engagement bore fruit when the company’s Vice President Yao Chenpeng signed a cooperation agreement at the Belt and Road Summit in September 2025 with a Hong Kong-based professional services firm to support Transfar’s overseas expansion plans.

This was followed by a robust programme of tailored visits and meetings arranged by the HKTDC to address the company’s specific needs. Notable activities included a visit to Transfar’s management and science base in Hangzhou by researchers from the Li & Fung Supply Chain Research Institute at the Hong Kong University of Science and Technology, as well as discussions with staff from the Hong Kong Institute of Finance to explore potential collaborations in supply chain development.

In addition, the HKTDC arranged for Mr Yao and a Transfar delegation to meet InvestHK representatives and learn about development opportunities related to the Northern Metropolis – Hong Kong’s major I&T infrastructure initiative.

Most recently, in November the HKTDC invited Mr Yao to attend a promotional event at the China International Import Expo in Shanghai showcasing Hong Kong’s advantages for mainland enterprises seeking to expand overseas. This event offered fresh insights and case studies illustrating how mainland enterprises are leveraging the city as a platform to go global.

Transfar’s next chapter

Following several months of groundwork, the Group is now on track to establish its Hong Kong operations this year, crediting the HKTDC for enabling such swift and seamless progress.

Anticipating the opening of the Hong Kong office, Mr Yao noted the city will play a pivotal role in supporting the company’s global ambitions – serving as a base for overseas acquisitions and driving business development at all levels while strengthening its domestic and international supply chains.

Most importantly, he emphasised the strategic significance of the new office to the Group’s long-term vision.

“By virtue of its unique blend of East-West expertise, Hong Kong will allow Transfar to deploy its management capabilities more broadly, leveraging a global perspective, and ultimately, seize greater business opportunities worldwide,” he concluded.