Zhi Tong Cai Jing·2025-12-01 13:47Group 1 - The core finding of Morgan Stanley's survey indicates a significant recovery in IT budget confidence among Chinese enterprises, with a projected growth rate of 12.6% for 2026, marking a substantial increase from previous years [1][3] - The survey covered 60 enterprises with annual revenues exceeding 1 billion yuan, revealing a "V-shaped rebound" in IT budgets, with an increase from 5.8% in the first half of 2025 to 7.4% in the second half [3] - Private enterprises are expected to lead in budget growth, with a projected increase of 13.3% for next year, surpassing state-owned enterprises at 12.5% [3] Group 2 - AI remains the top investment choice for CIOs, with the proportion of AI budget in total IT spending expected to rise from 7.7% in 2025 to 13% in 2026, indicating a shift towards software investments [5] - Alibaba's Qwen model is gaining traction, with support increasing from 18% to 30%, positioning it as a strong competitor against DeepSeek, which has seen a decline in market share support [6] - The primary areas for AI investment are customer service (50% of CIOs), marketing (45%), and supply chain management (43%), reflecting a practical application of AI in revenue generation and efficiency [7] Group 3 - The public cloud market is experiencing renewed interest, with 38% of CIOs planning to accelerate migration to public cloud services, a 9 percentage point increase from earlier in the year [9] - Alibaba is identified as the major beneficiary in the public cloud space, with 58% of CIOs believing it will capture a significant share of the 2025 public cloud growth [9] - Morgan Stanley has upgraded its outlook on the Chinese IT industry from "cautious" to "neutral," highlighting investment opportunities in private enterprise service software, AI and cloud leaders like Alibaba, and AI application scenarios focused on customer service and marketing [11]