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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)
    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.
。研究人员发现,六光年之外的巨型超级地球行星可能有简单的生命。巴纳德B(或GJ699B)是一颗最近发现的绕巴纳德轨道运行的超级地球行星,它是离地球最近的第二颗恒星。巴纳德B被认为是极冷的,其温度与欧洲相似,大约在零摄氏度以下150度。

B | 但研究人员说,它的铁/镍“核心”温度相当高,地热活动非常强烈。

C | 维拉诺瓦大学的天体物理学家爱德华·桂南在美国天文学会的一次会议上说:“地热能支持地下生命带,就像南极洲的地下湖泊一样。”“我们知道,欧罗巴的表面温度与巴纳德B的相似。但是由于地热条件,液态水可能会在木卫二冰冷的表面下。如果存在水,地热可能会导致冷地表下存在液态水的“生命带”。这种情况与结冰的欧罗巴非常相似。”我们已经把注意力集中在巴纳德身上一段时间了,”约拿说。

D | 发现巴纳德B行星最重要的意义是在离太阳最近的两个恒星系统中都有行星。”这支持了先前基于开普勒望远镜数据的研究,即行星在银河系中普遍存在,甚至有数百亿个行星。恩格尔说:“巴纳德B被认为是一颗质量超过地球三倍的岩石行星。

E | 巴纳德的寿命大约是太阳的两倍。它已经存在了大约90亿年前,太阳存在了46亿年前。宇宙中的一些行星,即地球的大小,在地球上,甚至在太阳上存在了很长一段时间。巴纳德B的质量是地球的三倍多,其轨道半径与水星的大致相同,在巴纳德(红矮星)周围有233天的轨道周期。朱纳说,虽然亮度很低,但将来可能用一个很大的望远镜“拍摄”巴纳德B,“这样的观测将揭示大气、表面和宜居性的特性。”虽然表面温度在零下150度左右,但科学家相信冰下有液态水可以维持生命。

F | 巴纳德B被认为是一颗岩石行星,比地球大至少3.2倍。巴纳德B号的主恒星巴纳德距离地球6光年,在天文尺度上距离很短,亮度只有太阳的0.0035倍。离地球最近的唯一恒星系是半人马座阿尔法星,距离地球约4光年。

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Published on:13:32:35


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