脱口秀大会Foreign financial institutions bullish on China's hard-tech growth momentum_我的网站
A |  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. 。在西湖区古荡街道益乐新村的台风安置点，这样的“待遇”，让工人凌贺前直呼“跟在家里一样舒坦”。8月8日下午，益乐新村接到紧急通知：华商工地300多名工人，需在当晚6点前全部转移至新村安置点。一场与台风赛跑的安置行动，在两个小时内完成。安置点里，最让工友们意外的，是村民敞开家门、借出浴室给他们洗澡。紧急转移8月8日下午4点，益乐新村和华商工地同时收到了紧急转移通知。工地负责人苗连庆马上在工作群里发了消息，叮嘱各班班长转告工友：晚上6点前必须完成吃饭洗漱，统一前往安置点避险。为了不耽误转移进度，工地食堂提前备餐，不到4点半，300多名工人已经收拾好了行李。益乐新村这边，村党委副书记沈国良立刻部署，社区工作人员迅速到岗。“应对‘巴威’台风时积累了经验，这次人数虽多，但各环节都有条不紊。”沈国良说。工地离益乐新村南区的安置点不到一公里，大家排着队，十分钟就到了。临时安置点设在靠近益乐河的社区礼堂里，从接到通知到完成全部清空布置，只用了半个小时。
B | 安置点内，防水布从头铺到尾，方便工人们铺开自带的垫被和毯子。空调与电风扇同时运转，矿泉水、方便面、面包和防暑药品整齐码放一旁。工人们头戴安全帽、手拎行李，在引导下分片入驻，不到一小时，300多名工人全部就位。村民腾出20多间浴室人都安顿下来了，但沈国良留意到了一个细节：工人们刚从工地上赶来，身上都是汗。益乐新村安置点分为南北两区，北区厕所装了热水器，南区却没有，两地相距1.5公里。
C | 应对台风“巴威”时，在南区安置的工友一身汗，只能自己想办法对付。“大热天，两三天不洗个澡，谁也扛不住。
D | ”沈国良当即在村民联络群中发出倡议，号召有条件的村民开放家中闲置浴室，供工友洗漱使用。消息一出，回应像接力赛一样涌来。很快，有十几位村民积极响应，总共腾出20多间浴室。沈凡盛是第一个响应的，他读大二，暑假在家。看到群里的消息，他和妈妈商量后，马上报了名。
E | 他把家里一楼、三楼、四楼的浴室全部收拾出来，还备好了毛巾、脸盆和沐浴露。
F | “台风快来了，工友们到村里避险，腾几间浴室，让他们洗个热水澡，这是应该的。”沈凡盛说。除了在群里发动，村里还一对一跟之前了解过的有空房的村民沟通。“一开始还担心大家有顾虑，没想到大家都蛮积极的。
G | ”沈国良说。跟在家里一样舒坦当天晚上，工人凌贺前第一个用上了村民家的热水。他从沈凡盛家一楼走出来，头发还在滴水。他甩了甩手上的水珠，笑着说：“从工地直接过来的，一身汗，没想到能在安置点洗上热水澡，浴室收拾得干干净净，跟在自己家里一样舒坦。”工友小组长屠国东排好了本组工友的住宿和洗浴顺序。“社区把吃的用的都备得很齐，没想到村民们主动让出自家浴室。”他说，“台风天要在这儿待两三天，洗不上澡确实难熬，现在大家都能冲个热水澡，心里一下子就稳了。”昨天中午，工人邵国强浑身湿淋淋地从外面跑回来，沈国良赶紧领着他往最近的村民家走，正是沈凡盛家。
H | 沈凡盛一边递上新拆的香皂，一边招呼：“沐浴露洗发水都有，尽管用。”十分钟不到，邵国强就洗完了澡，换上了干净衣服。“这是全村人一起搭起来的‘临时的家’。”沈国良说，“我们会继续对接工友需求，补充生活用品，合理安排好每个时段的洗浴。
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工人去沈凡盛家（右）洗澡 记者 江玥 摄
沈凡盛和妈妈从工地直接赶来，一身的汗，落脚就能洗上热水澡。 
