One of the few tangible takeaways from China's big policy meeting last week is that Beijing is intent on building up domestic tech. From an investment perspective, Goldman Sachs analysts on July 15 pointed out there are notable catalysts for certain semiconductor and artificial intelligence China stock plays from August to December. Those include new Chinese smartphones, AI PCs and a new iPhone cycle heading into the holidays.
Among mainland Chinese stocks, semiconductor names saw the biggest inflows last week, and some of the biggest gains on Friday, according to financial database Wind Information. That's after major stock indexes in China closed only mildly higher on Friday. They had traded lower in the morning before a press conference about China's policy meeting, called the Third Plenum.
Officials told reporters about plans to speed up "emerging and future industries," and expand the development of tech talent in China. Friday's IT outages also reminded many people in China about the benefits of not being so globally integrated. On China's social media platform Weibo, disruptions to Microsoft users briefly became the second most-popular hashtag in the afternoon, before giving way that evening to new topics such as Xiaomi's live-streamed product launch in Beijing.
In contrast, the top trending item on X on Friday night in Beijing was CrowdStrike . Adding to China's growing focus on self-sufficiency are U.S.
restrictions on Nvidia's exports to China in the last two years,.