How Hong Kong Reshapes Malaysia’s Industrial Upgrading Path — A Capital and Technology Hub under ASEAN’s 'China+' Strategy

From the perspective of ASEAN regional economic integration, this article analyzes Hong Kong's role as a capital, technology, and supply chain hub in Malaysia's industrial upgrading. Hong Kong is not only an investment and financing bridge between China and ASEAN, but also a key enabler for Malaysia's manufacturing industry to move toward high value-added and digital transformation. By analyzing the synergies between Hong Kong and Malaysia in fields such as the green economy, electronics manufacturing, and supply chain management, the article reveals the long-term significance of bilateral cooperation for enhancing the overall competitiveness of ASEAN.