18/05/2026
Nearly nine years after his previous visit to China as U.S. President, Donald Trump met again with Chinese President Xi Jinping in Beijing. Compared with the early stage of the previous trade conflict, the global backdrop today is very different. Over the past few years, the world has experienced the pandemic, geopolitical tensions, inflation, high interest rates, and supply chain restructuring. As a result, China-U.S. relations have evolved far beyond trade disputes, extending into technology, energy, finance, and broader strategic competition.
Based on public information, economic and trade cooperation remained one of the key focuses of the meeting. The U.S. side indicated that China may increase purchases of American aircraft, beef, and selected agricultural products, while both sides are also exploring the resumption of certain trade coordination mechanisms. Markets generally see this as a sign that both countries are seeking to rebuild limited areas of cooperation amid ongoing competition.
As Executive Vice President of the Hong Kong Greater China SME Alliance, I am particularly interested in what this may mean for Hong Kong and Greater Bay Area SMEs. In recent years, many businesses have faced growing pressure from weaker external demand, supply chain adjustments, and geopolitical uncertainty. However, global industrial realignment is also creating new opportunities.
Hong Kong continues to possess important advantages as an international financial centre, supported by its common law system and mature professional services sector. In finance, legal services, insurance, accounting, corporate advisory, and cross-border financing, Hong Kong still plays a unique role between China and international markets.
Meanwhile, Greater Bay Area enterprises continue to benefit from strong manufacturing capabilities, integrated supply chains, and operational flexibility. I believe that in today’s uncertain environment, the most competitive SMEs will not necessarily be the largest, but those capable of adapting quickly, integrating resources effectively, and maintaining an international perspective.
The meeting also touched on sensitive issues such as the Strait of Hormuz and Taiwan. From a market perspective, however, the key issue is not whether both sides fully agree, but whether communication channels remain open. For businesses and investors, stability and predictability remain essential.
Overall, I believe the significance of this meeting lies less in whether it can fundamentally improve China-U.S. relations in the short term, and more in the fact that both sides appear willing to maintain dialogue and seek a relatively manageable framework for engagement. For Hong Kong and Greater Bay Area businesses, any stabilization in global conditions and renewed space for cooperation could gradually help restore market confidence and create new opportunities in the years ahead.
