Reference Message Network reported on June 23 that the Brazilian "Foro" magazine website published an article on June 19 titled "Technology Drives Global Investors' Optimism about China's Economic Prospects", written by Yara Vidal. The article is as follows:

With the rise of the innovation wave, companies such as Tencent, BYD, and Alibaba in the list of China's "Top Ten Private Enterprises" proposed by Goldman Sachs are seen as the engines driving a new round of growth in the Chinese stock market.

The technological innovation wave in China is changing the foreign investors' perception of China's growth potential. With technology companies dominating the stock market and accumulating considerable returns, international investors' enthusiasm for investing in Chinese assets has surged again.

For example, this month, Goldman Sachs released the list of China's "Top Ten Private Enterprises", which draws on the concept of America's "Seven Giants". This list includes major enterprises such as Tencent, Alibaba, Xiaomi, BYD, Meituan, and Hengrui Medicine. According to Goldman Sachs, these companies represent the main growth drivers of China's current economy: artificial intelligence, self-reliance in science and technology, global expansion, services, and new consumption patterns.

Analysts pointed out that this transformation occurred after years of skepticism about "China's Rise". Now, with the rise of cutting-edge tech companies, Wall Street observers are re-examining their forecasts and recognizing the core role of innovation in China's new expansion cycle.

Recently, several Chinese companies including Vansem Microelectronics, Baili Tianheng, and Huicai Medical have been included in the MSCI China Index, highlighting the status of the technology and biotechnology industries. Meanwhile, institutions such as JPMorgan Chase and Goldman Sachs have raised their forecasts for China's economic growth, citing companies like DeepSeek leading the rapid development of artificial intelligence.

This enthusiasm is reflected in the numbers. As of May 29, the Hang Seng Tech Index had risen more than 40% year-over-year, surpassing major global benchmarks. Among the ten stocks with the highest trading volume on the Hong Kong Stock Exchange, seven belong to the tech industry, with Tencent, Alibaba, and Xiaomi being the most prominent.

The strength behind this performance lies in the integration of a powerful tech ecosystem.

Chairman Wu Qing of the China Securities Regulatory Commission recently said at the 2025 Lujiazui Forum held in Shanghai that under the guidance of implementing the innovation-driven development strategy and accelerating the construction of a modern industrial system, scientific and technological innovation is advancing from point breakthroughs to systematic integration, and technological breakthroughs are accelerating the conversion to market applications. Many fields are witnessing exciting "DeepSeek moments", with emerging globalized tech enterprises blossoming both domestically and internationally. This also poses new and higher requirements for accelerating the construction of financial service systems compatible with it.

Companies such as DeepSeek and Huawei, although not listed, are considered major drivers of this transformation. Outside the stock market, China already has over 400 unicorn companies, accounting for nearly one-third of the global total.

Data from the National Bureau of Statistics of China confirms this situation. In May, the added value of large-scale high-tech manufacturing increased by 8.6% year-over-year, faster than the overall increase in the added value of large-scale industry. The production of 3D printing equipment, industrial robots, and new energy vehicles all grew by more than 30% year-over-year.

Morgan Stanley points out that China is not only becoming the world's largest market but also the world's leading innovation center. Researchers at the institution noted: "The support China provides for embedded artificial intelligence may be greater than any other country or region."

International markets still show strong demand for Chinese technology. Alibaba's Global Express released a report in April saying that during the promotion activities in March, AR/VR (augmented reality/virtual reality) glasses represented by brands such as XREAL and Rokid saw a 600% daily sales surge compared to the previous period. Zhang Longjie, the global sales director of XREAL, revealed: "Last year, our overseas business accounted for nearly 70%."

Despite uncertainties in the global economy, data shows that from January to May 2025, exports of various high-tech products in China have significantly increased, confirming the resilience and global appeal of China's innovation industry. (Compiled/Mary Liu)

Original source: https://www.toutiao.com/article/7518953714225529396/

Disclaimer: This article solely represents the author's views. Please express your opinions by clicking the [Like/Dislike] buttons below.