Core Insights - The capital market policies have increasingly favored the technology sector over the past two years, focusing on "supporting the development of new productive forces" [1] - The escalation of the US-China tech rivalry has acted as a catalyst for domestic innovation, with companies like Huawei and BYD making significant advancements [1] - A positive feedback loop has formed, characterized by "policy benefits → technological breakthroughs → market expansion" [1] - The ongoing domestic advancements in computing power, AI applications, and robotics are expected to enhance the competitiveness and valuation of Chinese tech companies against US counterparts [1] - The Federal Reserve's interest rate cuts have alleviated global dollar liquidity pressures, benefiting the valuation recovery of Hong Kong tech stocks [1] Industry Summary - The technology sector is experiencing a shift from being a "follower" to a "leader" in innovation, with significant breakthroughs in areas such as AI and robotics [1] - Companies like iFlytek have surpassed international counterparts in core capabilities, while the smart car industry has established a presence in the global market [1] - The influx of resources into the tech sector is supported by favorable policies, which are expected to continue driving growth and expansion [1] - The low interest rate environment is enhancing the attractiveness of Hong Kong tech stocks as high-growth assets, supported by increased foreign investment in emerging markets [1] ETF Overview - The Hong Kong Stock Connect Technology ETF (159101) covers the entire technology industry chain [2] - The Hang Seng Internet ETF (513330) focuses on leading internet companies [2]