Sou Hu Cai Jing·2025-12-29 12:01Core Viewpoint - The brain-computer interface (BCI) sector is experiencing significant growth driven by favorable policies, technological advancements, and increased investment interest, as evidenced by the recent surge in stock prices of related companies in both Hong Kong and A-share markets [2][6][7]. Policy Developments - The National Medical Products Administration has included implantable brain-computer interface medical devices in the "Priority Approval List for High-end Medical Devices (2025 Edition)" [2]. - A joint initiative by seven ministries, including the Ministry of Industry and Information Technology, has set phased goals for the BCI industry by 2027 and 2030 [3]. - The "14th Five-Year Plan" emphasizes the BCI sector as a key area for fostering new economic growth [4]. - The National Healthcare Security Administration has introduced new pricing guidelines for invasive BCI procedures, facilitating reimbursement pathways [4]. Technological Advancements - Recent breakthroughs in BCI technology include the first domestically developed fully implanted, wireless BCI product by Brain Tiger Technology, which successfully completed its first clinical trial [5]. - The National Medical Products Administration has approved the world's first invasive BCI product for treating addiction-related mental disorders [5]. - Ongoing clinical trials and collaborations among research institutions and medical units are yielding significant progress in the field [5]. Market Insights - The BCI industry is entering a rapid commercialization phase, supported by policy backing, technological breakthroughs, and increased capital influx [5][6]. - The market for BCI is projected to be a nearly $10 billion opportunity globally, with domestic companies making strides in flexible electrodes and real-time Chinese language decoding [7]. - Investment interest in the BCI sector is rising, particularly in rehabilitation applications and non-invasive BCI technologies, as companies strategically position themselves for future growth [6][7].