Fragrance fills Guangzhou in November. A South reporter visits a museum that collects scents, one of which has a special connection to Hong Kong, a hundred kilometers away. Legend has it that centuries ago, Guangdong's agarwood, known as Guanxiang, was shipped worldwide via Hong Kong, giving the city its name.

Today, it is not just aromatics that cross borders, but also brands, technology and capital. As the 2026 APEC meetings approach, a defining question is how Guangdong and Hong Kong can work together to expand their business worldwide.

Guangzhou's cosmetics industry has an annual output of more than 100 billion yuan. Yet many companies remain white-label manufacturers and cannot command a brand premium.

Weng Zhenguo, chairman of Guangzhou Xuelei Cosmetics Co., Ltd., has turned his attention to Hong Kong. Hong Kong used to act as an agent bringing international brands into the Chinese mainland, he said, but now it is doing the reverse, helping Chinese brands go global. Hong Kong's global trade network is becoming a springboard for Guangdong brands to expand overseas.

But Chinese mainland companies with global ambitions still have a hard problem to solve: technology.

Xellar, based in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, is one example. It uses AI to test cosmetic ingredients, while its Hong Kong subsidiary connects the company with research resources around the world. The Shenzhen-Hong Kong-Guangzhou innovation cluster has ranked first in the world for two years running.

As Guangdong's manufacturing sector moves up the value chain, is Hong Kong's role as a re-export hub diminishing? Figures show that in September 2026, Hong Kong's merchandise exports posted their biggest year-on-year increase in four decades. More than 70 percent of those exports were linked to the AI supply chain, with most of the goods coming from Guangdong. Hong Kong is more than a transit hub; it is also a testing ground for Guangdong's technology and a magnet for international capital.

As Guangdong and Hong Kong refine their coordination and their partnership matures, their next stop is the Asia-Pacific market. Financial Secretary of the Hong Kong SAR Paul Chan Mo-po said that Southeast Asian countries are keen for Chinese mainland enterprises and Hong Kong's professional service providers to enter their markets together.

Trade between Guangdong and Hong Kong surged from 279.8 billion yuan in 1997 to 1.27 trillion yuan in 2025. That growth shows that even when systems differ, rules can be aligned; even when markets differ, opportunities can be shared. Today, aromatics set sail from Lingnan alongside homegrown brands, cutting-edge technologies and a new, evolving model of cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area.

Reporter | Chen Chen

Script | Chen Chen

Cameramen | Axin

Video｜Xu Xiaoxin

Photos | Xu Xiaoxin, Chen Chen

Voiceover | Xie Hongzhou

Poster | Lai Meiya