今日视点：中国科技资产开启“出海”新叙事

Core Viewpoint - The listing of the ChiNext 50 ETF-DR on the Thailand Stock Exchange marks a significant step in the internationalization of Chinese technology assets, reflecting strong interest from international investors in China's core technology sectors [1] Group 1: Market Expansion - The ChiNext 50 ETF, representing leading companies in emerging industries such as renewable energy, artificial intelligence, and biomedicine, has expanded its reach from Europe to Southeast Asia, indicating a growing international presence [1] - The "outbound" strategy of leading Chinese technology companies is evolving from individual listings to a more collective approach through ETFs, facilitating easier access for international investors to Chinese core technology assets [1][2] Group 2: Capital Market Innovations - The steady advancement of capital market reforms and cross-border capital flow mechanisms is paving the way for the "outbound" movement of technology assets, aligning with China's financial power strategy [2] - Innovations such as ETF connectivity and depositary receipt models are enhancing the visibility of Chinese core technology assets to a broader international market [2] Group 3: Competitive Advantages - China's rapid technological innovation has established systemic advantages in emerging and future industries, making Chinese technology assets increasingly attractive to global investors [3] - The shift in international capital allocation from seeking "value gaps" to focusing on "future certainty" positions Chinese core technology assets as essential components in global investment portfolios [3] Group 4: Strategic Globalization - The globalization of capital, international branding, and market diversification are key strategies for Chinese technology companies to enhance their value and competitiveness in the global market [4] - The "outbound" strategy is not only a response to market dynamics but also a proactive approach for companies to integrate into global innovation networks and enhance their international competitive edge [4]