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中国梦之声

Foreign financial institutions bullish on China's hard-tech growth momentum_我的网站

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Visitors interact with a robot from Unitree Robotics during the sixth China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 14, 2026. (Xinhua/Gao Jing)Foreign financial institutions are finding a stronger investment case in China's hard-tech industries as breakthroughs in AI, semiconductors, and advanced manufacturing are driving more exports, higher earnings, and growing interest from global investors.
China's high-tech exports surged over 50 percent year on year in July, well ahead of the 17.8-percent growth in total exports, customs data showed. The export gains are being mirrored in investment flows, with foreign funds moving into Chinese technology stocks and global indices adding newly listed hard-tech companies.
Rob Subbaraman, head of global macro research and co-head of global markets research at Nomura, said China's low-cost and abundant electricity supply, growing talent pool and early lead in physical AI are driving the rapid development of its AI industry chain.
China's development of open-weight models could accelerate their adoption by businesses, allowing productivity gains from AI as a general-purpose technology to spread more quickly across the economy, he said, citing models from Chinese firms including DeepSeek and Moonshot AI.
"The lower cost of these models was another advantage," he said, adding that the benefits could extend beyond China, particularly to emerging markets that could adopt cheaper Chinese AI models.
China's strength in advanced manufacturing has also become increasingly evident, said Robin Xing, chief China economist at Morgan Stanley, pointing to China's roughly half share of global installed new energy storage capacity and the rapid growth in outbound licensing deals for innovative drugs. These trends, he said, underpin the long-term investment case for China's hard-tech sector and leading manufacturers.
These strengths are increasingly being reflected in foreign investors' allocation decisions. This year, Goldman Sachs has twice raised its 12-month target for the CSI 300 on improving earnings momentum, and retained an overweight view on Chinese equities.
Kinger Lau, chief China equity strategist for Goldman Sachs Research, said the bank's positive view reflected improving earnings momentum, favorable macroeconomic and liquidity conditions. A-share equities offered international investors diversification benefits that remained underappreciated, along with attractive exposure to hard-tech and AI themes, he added.
Individual companies are drawing overseas interest too.
ChangXin Memory Technologies surged 465.82 percent on its debut on Shanghai's STAR Market last month, reaching a market capitalization of more than 3.2 trillion yuan (about 471.28 billion U.S. dollars).
U.S.-based Tema ETFs made the chipmaker a top holding at a 10.56 percent weight on its debut day, while MSCI officially added it to its China All Shares Index on Monday under a fast-track rule for large IPOs.
Robotics is where the enthusiasm is most visible. Unitree, set to become China's first mainland-listed humanoid robot maker, priced its Shanghai IPO at 150.8 yuan a share, representing 10 percent of its post-offering share capital. The offering is expected to raise about 6.1 billion yuan in gross proceeds.
That optimism, however, exists alongside broader economic pressures. Nathan Chow, senior economist at DBS Bank, said the imbalance between relatively strong supply and weak demand remained pronounced, with household consumption and some companies' profitability still under pressure.
Investment in infrastructure could help offset the weakness in private investment in the near term, while lowering logistics and energy costs and improving the efficiency of resource allocation over the longer term, Chow said. It could also strengthen supply chains and reduce the economy's exposure to external shocks and geopolitical risks, he added.
The implementation of policy measures would be key to sustaining the recovery in the second half of this year, analysts noted.
Economic management requires both easing the brakes and stepping on the accelerator, said Song Yu, chief China economist at UBS Securities, adding that faster fiscal spending and the use of bond proceeds, additional policy support and better coordination between fiscal and financial policies are needed, alongside measures to remove barriers to household consumption and improve the business environment.
"With stronger policy support and measures taking effect, China's economy is expected to maintain a steady recovery in the second half of the year," Chow said.
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按照计划，2022赛季中超联赛首阶段赛事于7月12日结束后，第二阶段赛事将于7月21日至8月21日进行。北京青年报记者经核实确认，本阶段赛事将继续采用集中赛会制。比赛仍将按原计划分别在梅州、海口、大连3个赛区内进行。为确保联赛执法公平、公正，赛事主办方在将所有持证上岗裁判员集中分配在3个赛区的基础上，将根据部分比赛的重要程度及裁判员选派属地回避原则，安排部分裁判员进行不同赛区间的调换。此外，受天气因素影响，海口赛区部分比赛开球时间将适当延后，从而最大限度保护参赛球员的健康安全。第二阶段赛区保持不变暂不具主客场赛制条件截止到目前，新赛季中超联赛首阶段赛程已过半。赛事主办方近期已着手启动联赛第2阶段各项准备工作。在此之前，有媒体曾猜测，因首阶段赛事梅州赛区出现了一定“状况”，因此赛事主办方有可能另选赛区，取代梅州赛区承办第二阶段其中1个组别的赛事。甚至有媒体猜测，成都、武汉有可能“接盘”中超部分组别赛事。不过，北青报记者核实了解到，截止到目前，赛事主办方并没有这样的计划。换言之，第二阶段赛事仍将按原计划分别在梅州、海口、大连3个赛区内进行。本赛季中超联赛揭幕前，中足联筹备组相关负责人曾表态称，“恢复联赛主客场制”始终是联赛工作追求的重要目标或方向，但前提是各赛区必须做好疫情防控工作，满足承办主场比赛的防疫及其他安全条件。

二 | 目前，中超联赛暂时还不具备恢复主客场赛制的条件。因此，第二阶段赛事仍将沿用首阶段的赛会分组集中制。种子队前三阶段不轮换国安仍然留在梅州赛区根据季前确认的竞赛规程，第二阶段赛事将进行幅度较大的球队赛区轮换。中超3个小组中，每组落位前两位的球队为种子队，种子队在第一至三阶段不参与赛区轮转，第四阶段再进行轮转。梅州客家作为梅州赛区的东道主队，落位在该赛区1号位；山东泰山作为卫冕冠军，落位海口赛区1号位；长春亚泰队作为2021赛季中超联赛第4名落位海口赛区2号位；上海海港队作为2021赛季中超联赛亚军，落位大连赛区1号位，广州队作为2021赛季中超第3名落位大连赛区2号位；梅州客家队外加2021赛季中超联赛前5名北京国安队，共同成为梅州赛区种子队，上述6支球队在前3个阶段联赛中不参与赛区轮转。规程还显示，各赛区第二阶段参赛各队中，在第一阶段同赛区的球队之间不再进行比赛。

三 | 受赛事转播等因素影响，目前主办方还没有最终敲定第二阶段各轮次比赛的具体对阵安排及时间表。下一阶段部分裁判员适当进行赛区间调换中超联赛第二阶段赛事的其他竞赛安排与首阶段赛事大体相同。值得注意的是，赛事主办方在第二阶段期间仍将对部分裁判员适当进行赛区间调换，其目的是为了确保联赛执法工作的公平、公正。比如，执法两支球队间首回合交锋的裁判员原则上将不得主哨两队次回合交锋。裁判员选派必须严格执行属地回避原则。此外，由于新赛季中甲联赛将在同期进行，新赛季中乙联赛将于7月2日拉开帷幕，各级联赛对裁判员的需求较高。而目前，受疫情影响，仍有部分裁判员（兼职）无法向本单位请假赴赛区长时间执法。这些因素客观上给联赛裁判员选派工作制造了困难。据了解，国际级裁判员傅明近期已经回到国内，他预计最快将在首阶段中超结束前重返执法舞台。

四 | 文/本报记者肖赧统筹/杜锐供图/新华社国安备战谢峰：第7轮会进行人员调整和轮换 30日晚，北京国安将在中超第7轮比赛中迎来和成都蓉城队的争夺，赛前国安主帅谢峰和姜祥佑一起出席发布会。谢峰表示，最近球队出现队员疲劳的问题，伤病仍然在影响着球队的备战，因此在本场比赛中将进行一些调整和轮换。谈及备战情况时，谢峰说：“我们此前确实轮换幅度不是特别大，最近的训练中能感觉到有些球员身体出现疲劳，所以这轮比赛我们会进行一些调整。伤病情况也有一些，阿德本罗的康复情况不是很理想，当时我们引进他是希望他在前场帮助球队，他这几场没打对我们进攻造成了很大影响。好在中方球员状态不错，特别是张玉宁场场进球，希望他火热的状态能延续下去。

五 | ” 国安在和成都队的首次碰面中其实没占到任何便宜，那么二度相遇，谢峰又如何看待这个对手呢？他说：“成都队虽然目前没有取得胜利，但球队明显处在一个上升的趋势中。

六 | 成都队的角球定位球是他们得分的手段，每个进球多少都和角球定位球有关系，这也要求我们球员要提高比赛的专注度。90分钟的比赛，我要求球员们必须全身心地投入，有可能比赛88分钟都踢得很好，但就2分钟精力不集中，就可能输掉比赛。上一场比赛天气很热，我们明显进入状态很慢，希望本场比赛能有所改善，我们需要善始善终，做好每一分钟，才能赢下比赛。

七 | ” 尽管对手尚未取得过胜利，但他们在定位球上却有不少收获，之前的进球，有很多是通过这样的方式完成的，那么此役在防守端，作为主帅的谢峰作出哪些布置和安排呢？谢峰回答道：“成都这支球队现在的阵型和打法，包括定位球战术一直是在改变，他们有很多进攻的办法，边路进攻比较活跃。我和球员们也强调了，一个是注意防守对方边路，尤其是传中球，第二个是减少给对方定位球。”（文/本报记者张昆龙供图/新华社）中超第2阶段分组 梅州赛区：梅州客家、北京国安、广州城、河南嵩山龙门、武汉长江、武汉三镇海口赛区：山东泰山、长春亚泰、河北队、上海申花、天津津门虎、成都蓉城大连赛区：上海海港、广州队、深圳队、沧州雄狮、大连人、浙江队

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Published on:16:37:25