沙利文《报告》也显示，高技术产业外资投入占比逐年上升，汽车制造、生命科学、消费零售等领域成为 外资布局重点。由于外资投入均为高技术行业，不仅仅包含营销等业务，往往还涉及研发中心、高端制造 工程等落地，这极大刺激了外企对于数字化转型的进程和拥抱云计算的趋势。 随着中国市场持续对外开放，在华外企对于中国市场的投资热度稳步提升。在华外企业务在深度融入中国 市场的同时，其数字化转型的进程也在提速，尤其是对于云计算拥抱成为大势所趋。如今，云计算已不再 仅是技术支持工具，而是演变为跨国企业在中国市场扎根、生长与进化的核心战略设施。 近日，弗若斯特沙利文（Frost & Sullivan）联合头豹研究院发布最新的《2025年在华外商企业云计算服务采 用研究报告》（以下简称《报告》）。《报告》显示，截至2024年年底，外商在华设立企业总量达68万家 以上，超过80%的在华外企选择多供应商云服务方案，"本土云+国际云"协同部署占比超60%，行业化用云 特征日益凸显。 这标志着外企用户在中国云计算市场中扮演着重要角色。而像亚马逊云科技这样的全球云巨头在中国市场 的深度布局，有望通过全球一致性体验和全栈赋能，为外企数字化转型和上云 ...

来源：环球网 【环球网科技报道 记者 李文瑶】"过去企业用云，实际上是为了方便，相当于把事情托管，无需自行管 理。但到了现在，企业对云的要求是希望云是智慧且有创新的，能够解决更复杂的智力型任务。"近 日，德勤中国亚马逊云科技联盟主管合伙人郭大江这样对记者描述企业用云需求的根本性转变。 随着生成式AI技术浪潮席卷全球，企业数字化转型进入深水区，云服务的内涵与外延正在发生深刻重 构。作为咨询服务机构，德勤不仅洞察到这一变革，更躬身入局，与亚马逊云科技等科技巨头深度协 同，推动企业从"上云"走向"用云"，从"信息化"迈向"数智化"。 在郭大江看来，AI时代下，云服务也迎来了深度变革。 面对产业浪潮，德勤自身便是一个"数字化转型"的案例。"或许大家想不到，一个咨询公司和会计事务 所竟然拥有3000名程序员。"郭大江坦言。这家成立于1845年的老牌机构，已从纯粹的会计师事务所， 历经税务整合、管理咨询、信息化实施等多次蜕变，如今正深度投身于数字化与智能化前沿。 云的角色之变：从基础设施到"AI底座" 在郭大江看来，云计算的发展已走过两个明显的阶段。早期，云的核心价值是托管与便利，企业将其视 为可替代传统IDC的"更优基 ...

目前港股 IPO 排队企业达 414 家，市场对 2026 年港股 IPO 预期高度一致，普遍认为其上市规模将再创新高、结构持续分化，港股有望延续 2025 年全球 IPO 募资冠军的态势，稳居全球资本市场最活跃板块。 繁荣背后，"强者恒强、弱者分化" 将成为核心趋势。澳洲会计师公会梁祐庭指出，2026 年港股 IPO 将呈现 "两头大、中间分化" 特征：大型项目、行业龙 头及具备国际可比性的企业，将获长线资金与基石投资者青睐，发行定价及上市后流动性更稳定；中小体量企业则更依赖行业景气度与自身盈利兑现能 力，估值分化将进一步加大，港股 IPO 市场正从 "规模竞争" 转向 "质量竞争"，优质资产将获更高估值溢价。 此外，国际企业赴港上市成为新亮点。414 家排队企业中，有 11 家来自中国内地以外，覆盖泰国、印尼、新加坡、迪拜等国家和地区。 多家头部机构给出乐观预测：普华永道预计 2026 年港股将有 150 家企业成功上市，募资额达 3200-3500 亿港元；德勤预测募资额至少 3000 亿港元，其中 7 只新股募资超 100 亿港元；华泰证券则表示，募资规模中枢将达 3300 亿港元，较 2025 年提 ...

OpenAI正大举扩充企业服务团队，计划招聘数百名技术咨询师，以帮助大型企业开发定制化AI应用并 自动化员工任务。这一举措旨在强化其企业市场竞争力，抗衡主要对手Anthropic在企业服务领域的攻 势。 据The Information周五报道，知情人士透露，OpenAI正在扩充其前沿部署工程师团队，这些专业工程师 能够利用客户自有数据定制OpenAI模型。目前该公司约有60名此类工程师，以及200多名技术客户成功 团队成员，总员工数约4000人。 此次招聘配合OpenAI即将推出的新企业产品，该产品将整合企业使用AI的各项需求。强化企业客户基 础可能有助于其赢得投资者青睐——据知情人士称，公司高管已与银行和律所就最快于今年第四季度进 行首次公开募股展开非正式讨论。 对标Palantir模式扩充咨询团队 OpenAI希望通过这些举措，将企业客户收入占比从1月份的约40%提升至年底的50%，并在2026年实现 约150亿美元的企业收入。 OpenAI正在效仿Palantir的成功经验，后者通过帮助客户改造后端系统和使用AI实现了快速增长。这些 技术咨询师可以为T-Mobile开发AI客服响应系统，或协助Intu ...

图片来源： techcrunch OpenAI 正在招聘数百名新员工，以扩充其技术顾问团队，该团队旨在帮助大型企业开发定制化人工智能应用与智能体，实现员工任务的自动化处理。 OpenAI 若能强化自身在大型企业中的信誉，将有助于其在未来的首次公开募股中赢得投资者青睐。据知情人士透露，该公司高管已与投行及律师事务所就 最早于第四季度上市的方案进行非正式磋商。（《华尔街日报》此前曾报道过该公司的预期上市时间表。） 此次大规模招聘或有助于 OpenAI 击退其主要竞争对手 Anthropic 的攻势，后者同样加码了企业服务布局。这一举措正值 OpenAI 准备推出全新企业级解决 方案之际，该方案旨在整合企业应用人工智能的各类需求。 据透露， ChatGPT 的制造商正在扩编其技术顾问——也被称为前线部署工程师的数量，这些工程师能够利用客户自身的资料来定制 OpenAI 的模型。 例 如，这些工程师可以帮助 T-Mobile 开发用于响应客户服务请求的人工智能，或协助 Intuit 为其客户提供报税准备服务。 在约 4,000 名员工中， OpenAI 目前约有 60 名此类工程师，另在与技术紧密相关的客户成功团队中 ...

2000年前后，在中国许多科技园区、政策文件中，一个名字频频出现——班加罗尔。 这座位于印度南部，几乎与北京纬度相近的城市，被誉为印度的硅谷。微软、IBM、德勤的外包中心在那里星罗棋布，数以十万计的印度程序员为全球企 业敲代码、测试系统、做客户支持。 班加罗尔成了一个符号：不靠资源、不靠资本、只靠外包，也能崛起。 在中国，"学习班加罗尔"的口号一度被科技官员和企业家反复提起。 为什么班加罗尔的光环不再被追捧？中国IT业又走上了一条怎样的道路？ 01 曾经的班加罗尔学习热 1990年代的班加罗尔，是全球外包经济的样本。Infosys、Wipro、TCS等巨头崛起，承包着欧美大公司的软件定制项目。 而那时的中国，刚刚加入WTO，处于信息化的前夜，一切都在与世界接轨的热潮中。 在这样的语境里，一股"学习班加罗尔"的热潮迅速蔓延。 2000年，国务院颁布了纲领性的《鼓励软件产业和集成电路产业发展的若干政策》（俗称"18号文件"），明确将鼓励软件出口和承接国际项目上升为国家 战略。 多份地方政府规划甚至明确写道"要打造中国的班加罗尔"。 但二十多年过去，班加罗尔依旧是印度IT产业的心脏，中国却几乎不再提"学习班加罗尔" ...

Group 1 - The Hong Kong IPO market in 2025 led the global capital markets with 114 companies raising approximately HKD 121.16 billion in listing fees, a year-on-year increase of HKD 64.62 billion, with listing fees accounting for about 4.24% of the total fundraising amount [1] - The top four IPO sponsors in 2025 were all Chinese firms, with CICC leading by sponsoring 41 companies, followed by CITIC Securities with 32, Huatai International with 22, and China Merchants International tied with Morgan Stanley at fourth place [2][3] - The participation of Chinese brokers in IPO sponsorship was significantly higher than that of foreign institutions, with only Morgan Stanley being the sole foreign firm in the top five [2][3] Group 2 - In 2025, 27 brokers acted as stabilizing agents for IPOs, with CICC leading by stabilizing 30 IPOs, followed by CITIC Securities with 16, and Morgan Stanley with 9 [4] - A total of 140 brokers participated as underwriters in the Hong Kong IPO market, with Futu Securities involved in 54 IPOs, followed closely by Agricultural Bank of China International with 53 [4] - The "Big Four" accounting firms dominated the auditing market for IPOs, collectively participating in 87% of the projects, with Ernst & Young leading by auditing 41 IPOs [5][6] Group 3 - In 2025, 34 mainland law firms provided legal services for Hong Kong IPOs, with Jingtian Gongcheng leading with 47 projects, doubling its participation from the previous year [7] - A total of 122 overseas law firms were involved in providing legal services for IPOs, with the top three being King & Wood Mallesons, DLA Piper, and Clyde & Co [9] - Eight industry consultants participated in 113 IPOs, with Frost & Sullivan being the most active, involved in 82 projects, capturing a market share of 73% [9]

Core Insights - The asset securitization market in China is experiencing steady growth, with a total issuance of 2,435 products amounting to RMB 23,250.45 billion in 2025, reflecting a 15% increase in the number of issuances and a 14% increase in issuance scale compared to 2024 [4][11] Group 1: Market Overview - In 2025, the credit ABS market saw 238 new products issued, a 24% increase year-on-year, with a total issuance of RMB 2,915 billion, marking an 8% increase in scale [6][11] - The corporate ABS segment led the market with 1,560 new products and an issuance scale of RMB 14,133 billion, showing increases of 18% in quantity and 20% in amount year-on-year [6][11] - The ABN market issued 612 new products, with a 7% increase in quantity and a 9% increase in scale, totaling RMB 5,731 billion [6][11] Group 2: Asset Class Breakdown - The top three asset classes driving the ABS market in 2025 were financing lease receivables (349 products, RMB 3,583.05 billion), bank/internet consumer loans (388 products, RMB 3,138.84 billion), and corporate receivables (337 products, RMB 3,112.43 billion) [8][11] - Consumer loan ABS emerged as a significant growth point, driven by policies supporting consumer finance, leading to the highest issuance quantity among all asset categories [11][12] Group 3: Regulatory Environment - In 2025, various regulatory bodies, including the China Securities Regulatory Commission and the People's Bank of China, issued notifications and guidelines impacting the asset securitization market, indicating a proactive regulatory approach [3][12] Group 4: Key Players and Rankings - In the credit ABS sector, the top issuer was Jianxin Trust with 54 projects totaling RMB 1,043.98 billion, followed by Huaneng Guicheng Trust with 52 projects totaling RMB 324.28 billion [13] - The leading initiator in credit ABS was Ping An Bank, with 23 projects totaling RMB 42.96 billion [14] - KPMG was the top accounting advisor for credit ABS, participating in 105 projects with a total issuance of RMB 1,525.81 billion, accounting for over 52% of the total [15] Group 5: Market Trends and Innovations - The market is transitioning from mere scale expansion to structural optimization and high-quality development, with a focus on innovative financial products that align with national strategies [12][22] - A series of "first-of-its-kind" products emerged in 2025, reflecting the market's adaptability to national strategic directions and the need for financial product innovation [21][22]

Core Viewpoint - The global capital markets are experiencing significant turbulence due to fears that AI may disrupt the SaaS industry, leading to a sell-off in SaaS stocks following the release of an AI tool by Anthropic aimed at legal services [1][5]. Market Impact - On February 3, the combined market value of two S&P indices tracking software and financial data stocks dropped by approximately $300 billion [1]. - The Hong Kong SaaS index fell by 6.39% on February 4, resulting in a total market value loss of nearly HKD 150 billion [1]. - Major SaaS stocks in Hong Kong, such as Kingdee International and Kingsoft, saw declines of 12.64% and 5.14%, respectively [3][4]. Stock Performance - The performance of major SaaS stocks on February 4 included: - Kingdee International: -12.64% - Kingsoft: -5.14% - Huya Technology: -5.88% - China Software International: -6.72% - Fubo Group: -5.16% [3][4]. - In the U.S., SaaS stocks also faced declines, with the Wind U.S. SaaS index dropping by 4.12% on February 3, including significant losses from Microsoft (-2.87%) and Salesforce (-6.84%) [4][8]. Market Sentiment - The term "SaaSpocalypse" has emerged among traders to describe the current market sentiment regarding SaaS stocks [5]. - Concerns were exacerbated by a question raised at an investor forum about whether "software is dead," further fueling market anxiety [5]. SaaS Business Model Challenges - The SaaS model, which typically involves subscription-based revenue, is facing challenges as AI tools may offer more personalized solutions, potentially undermining the traditional SaaS value proposition [10][11]. - The market is expected to differentiate between traditional SaaS providers and those that integrate AI capabilities, with the latter likely to gain a competitive edge [11][12]. Future Outlook - Deloitte predicts that the SaaS business model may evolve, with a shift towards hybrid pricing models based on usage and outcomes rather than solely on subscriptions [12]. - Gartner forecasts that by 2030, at least 40% of enterprise SaaS spending will transition to usage-based or outcome-based pricing models [12].

Group 1 - The total sales value of Hong Kong's retail industry is estimated to have increased by 1% year-on-year to HKD 380.5 billion last year [1] - Deloitte forecasts that Hong Kong's retail sales will grow nearly 8% year-on-year to approximately HKD 410 billion by 2026, driven by the gradual recovery of the Chinese economy [1] - Key retail categories expected to drive growth include jewelry and watches (up 19%), clothing and footwear (up 16%), pharmaceuticals and cosmetics (up 11%), and department stores (up 10%) [1] Group 2 - Deloitte suggests that the Hong Kong government should further deepen and expand the development of the events economy by supporting large-scale sports events, concerts, exhibitions, and international conferences to attract more visitors [2] - Utilizing Kai Tak Sports Park and Kai Tak Cruise Terminal for more flagship events can enhance Hong Kong's international image and solidify its position as a tourism hub and convention city [2]