2 1 Shi Ji Jing Ji Bao Dao·2025-12-07 08:53Group 1 - The core viewpoint of the articles emphasizes the deep interconnection between technological development and capital market transformation, highlighting how advancements in technology, particularly artificial intelligence, are reshaping the financial industry and capital markets [1] - Historical context is provided, illustrating that significant technological breakthroughs have often been supported by precise capital allocation, from the steam engine to the internet and now to artificial intelligence [1] - The article notes that the cycle of technological iteration has shortened from years to months, making capital allocation efficiency a critical variable for the success of innovation [1] Group 2 - Morgan Stanley's specific practices include assisting Xiaomi in completing a $5.5 billion "old-to-new" Hong Kong stock placement, marking the largest stock placement transaction in the global TMT sector since April 2021 [2] - The company has also supported several Chinese tech firms in issuing various bonds overseas, providing comprehensive services throughout their lifecycle [2] - Morgan Stanley aims to leverage its global network and local business platform to act as a bridge between Chinese and global markets, offering full financial services to clients, particularly in the tech sector [2]