HSBC vows to keep investing in China amid global tensions as new trade corridors emerge
HSBC’s CEO said financial institutions needed to ‘keep up’ with the rapid expansion of Chinese companies on their journey to ‘go global’
While attending the two-day China Development Forum (CDF) 2026 in Beijing on Sunday, Elhedery characterised China’s current trajectory as a “new phase of development” that would define the next era of global economic growth.
Elhedery described China’s overseas direct investment (ODI) as “proving unstoppable”, highlighting a significant shift in how Chinese firms engaged with the world.
According to an EY report in February, China’s overall 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 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 Contemporary Amperex Technology Ltd, which are building plants in Europe, Southeast Asia and South America.