Chinese smart-device manufacturers saw significant stock gains following President Xi Jinping’s visit to an artificial-intelligence innovation center in Shanghai. YingTong Telecommunication Co., Ltd., which produces wireless acoustic parts and Bluetooth headphones used in AI glasses, reached its 10% daily limit in Shenzhen. Other beneficiaries included Shenzhen Rapoo Technology Co., which manufactures consumer electronics components and rose over 6%, while Guangzhou Risong Intelligent Technology Holding Co., an industrial robotics company, surged 11%. The visit appears to have boosted investor confidence in China’s AI and tech sectors.
The market reaction underscores the influence of government support on China’s technology industry. As the country’s tech landscape continues to evolve, such visits from high-ranking officials often signal government backing for specific sectors, potentially leading to increased investment and growth opportunities.
Investors are closely watching developments in China’s AI sector, particularly how government initiatives may impact company valuations and industry trends. The recent visit by Xi Jinping to the AI innovation center in Shanghai highlights the government’s focus on developing advanced technologies and their potential to drive economic growth.
