Foreign-funded institutions bullish on China's technology, consumer sectors

Foreign-funded institutions are setting their eyes on China's technology and consumer sectors, identifying the twin pillars as harboring substantial growth potential and emerging as a new magnet for global capital.

China is becoming a world leader in artificial intelligence (AI), according to a comprehensive 100-page AI industry blue paper from Morgan Stanley, which contains six months of in-depth research findings and sector analysis on Chinese technology enterprises.

"China is an AI powerhouse capable of forming a closed-loop full industrial chain ecosystem in both upstream and downstream sectors, including software, hardware, and applications. A total of 60 highly representative enterprises can boost future productivity," said Xing Ziqiang, chief China economist at Morgan Stanley.

In addition, the consumption patterns of Chinese people have changed, with domestic designs and brands rising rapidly, JPMorgan Chase reported.

From blind box toys to the "China Shopping" craze by inbound tourists, these have all become notable highlights in China's consumer landscape.

"A positive shift in the consumer sector is the strong performance of new consumption scenarios, including interest-driven consumption, premium retail, and culturally-oriented tourism," said Zhu Haibin, chief economist with JPMorgan Chase China.

Foreign-funded institutions bullish on China's technology, consumer sectors

Foreign-funded institutions bullish on China's technology, consumer sectors

At least 89 people were killed and about 200 others injured over the past two days in escalating clashes between Druze militias and Bedouin tribes in southern Syria's Sweida province, according to the Britain-based Syrian Observatory for Human Rights on Monday.

Meanwhile, the Syrian defense authority, in a statement carried by the state-run SANA news agency, put the death toll at more than 30 and the injuries at some 100.

Attributing the escalating clashes to a breakdown of institutional control, the Syrian defense authority stated that specialized military units had been deployed to separate the warring factions and secure evacuation routes for civilians. The defense authority urged restraint, warned that continued fighting would only deepen civilian suffering, and affirmed its commitment to restoring stability through coordinated operations with interior forces.

Footage shared by China Global Television Network (CGTN) showed armed fighters clashing late Monday in Sweida, with fierce exchanges of fire between the conflicting parties.

The root of the conflict lies in an earlier incident where a young Druze man was assaulted and robbed by armed Bedouins at a temporary checkpoint near al-Masmiyah. In retaliation, local Druze fighters detained several Bedouin members, escalating the situation.

89 killed in escalating Druze-Bedouin clashes in Syria's Sweida: war monitor