HSBC CEO Georges Elhedery has vowed to continue investing in China amid escalating trade tensions after witnessing new trade opportunities from Chinese companies going global.

While attending the two-day China Development Forum (CDF) 2026 in Beijing on Monday, Elhedery characterised China’s current trajectory as a “new phase of development” that would define the next era of global economic growth.

Although 2025 saw steady growth in global trade, the landscape has been complicated by shifting tariffs, geopolitical tensions and regional conflicts. However, Elhedery emphasised that these structural shifts were carving out “new trade corridors”, according to a media note on Sunday.

“Under the current ‘new normal’ of global trade, Chinese companies are facing new needs and challenges in their journey to ‘go global’,” Elhedery said. “Financial institutions should keep up with Chinese companies, as the pattern of their journey has shifted from primarily exporting products to actively building overseas operations.”

Elhedery described China’s overseas direct investment (ODI) as “proving unstoppable”, highlighting a significant shift in how Chinese firms engage with the world.

According to an EY report in February, China’s overall overseas direct investment (ODI) reached US$174.4 billion last year, up 7.1 per cent year on year, while non-financial ODIs in Belt and Road Initiative partner countries surged by 17.6 per cent. Overseas mergers and acquisitions announced by Chinese enterprises hit US$43.6 billion, an increase of nearly 40 per cent over the same period.

The “going global” campaign is being spearheaded by giants in the green energy and automotive sectors, including BYD and CATL, building plants in Europe, Southeast Asia and South America.