在中国为中国

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专访祥峰投资管理合伙人夏志进:“在中国为中国”新投资叙事崛起,国际资本重仓中国科技三重逻辑
Mei Ri Jing Ji Xin Wen· 2025-06-03 09:28
Group 1 - The core viewpoint is that overseas investors are increasingly interested in Chinese technology assets, particularly in hard tech sectors like artificial intelligence and robotics, showing a "V-shaped rebound" in attention [1][3][4] - The shift in international capital's mindset is attributed to a combination of stable policy support, resilient valuation systems, and a unique multi-tiered talent pool in China, which are reshaping global perceptions of Chinese tech [1][5][6] - The narrative of "China for China" is emerging, indicating a revaluation of Chinese tech assets as the country transitions from being merely a "world factory" to a strategic hub for innovation, manufacturing, and consumption [1][7][8] Group 2 - The success of companies like Yushu Technology, which has rapidly increased its valuation to the billion-dollar level, exemplifies the growing confidence in Chinese innovation and the willingness of overseas LPs to invest [3][4] - The private equity market is showing signs of recovery, with increased investor confidence, particularly among overseas investors who are now more willing to believe in the explosive potential of Chinese innovative enterprises [4][5] - The stability of the policy environment in China is a key factor attracting long-term capital, as it has consistently supported technological innovation across various sectors [5][6] Group 3 - The unique and complete talent system in China is a significant underlying support for its innovation capabilities, allowing for rapid transformation of cutting-edge technology concepts into actual products [6][7] - The investment logic of foreign capital in China has fundamentally shifted from relying on low-cost manufacturing to valuing high-quality innovation, leading to a new investment philosophy focused on the Chinese market [7][8] - The successful IPOs of tech companies in Hong Kong signal a positive trend for the capital market, which is crucial for maintaining investor confidence and encouraging long-term investments in technology innovation [7][8]