进入2026年，A股持续走高，港股则明显跑输。 年初至1月12日，万得全A指数上涨6.92%，尤其是科创综指上涨13.39%，均明显跑赢恒生指数 （3.82%）和恒生科技（6.29%）。 港股年初跑输，核心在于其市场结构与当前资金偏好错配，且流动性环境暂时处于弱势。一方面，开年 A股的春季躁动，资金集中涌入科技硬件等被视为具备高回报潜力的稀缺方向，而商业航天、脑机接口 等强势赛道在港股中占比偏低；港股特色的分红、互联网等板块则不在当前市场兴奋点上。 另一方面，港股资金面亦受制约：海外美债利率居高不下，压制外资流入；A股活跃分流内地资金，导 致南向资金流入放缓；同时港股IPO与解禁规模较大，形成资金需求压力。 此外，港股对基本面及信用周期更为敏感，当前经济数据疲弱亦对其构成压制。历史数据显示，A股春 季日历效应通常强于港股，近期表现也契合这一规律。 从另一个视角看，随着A股进入高位震荡，资金开始寻求"高切低"，港股的短暂跑输反而凸显其性价比 优势，吸引部分切换资金流入。 这一点在近日行情中已有所体现。1月12日至13日，随着AI应用、创新药两条主线逐渐活跃，港股相关 板块已显现出追赶势头，甚至隐隐有后来者居上之 ...

贝恩公司与亚马逊云科技联合发布《中国软件企业出海热点观察》，报告宣布，到2027年AI软硬件整 体市场规模将达到7800亿至9900亿美元，平均增速为40%-55%，其中应用程序和交易平台平均增速为 60%-85%，这些为中国企业提供巨大的全球化机遇。市场角度，作为最大的存量市场，北美依旧是 SaaS、电商、社交媒体等领域要重点关注的地区，同时，东南亚、中东、非洲、拉丁美洲等海外新兴市 场显示出了强劲的增长潜力。 (智通财经) ...

Core Viewpoint - The article highlights the successful roadshow event held by Shenzhen Stock Exchange in Seoul, showcasing the investment potential of five Shenzhen-listed companies in the fields of artificial intelligence, information technology, and new energy, which has enhanced Korean investors' confidence in the Chinese market [2][4][10]. Group 1: Event Overview - On September 25, 2025, Shenzhen Stock Exchange hosted the "Investing in New Opportunities in China" roadshow in Seoul, featuring executives from five companies: iFlytek, Grinmei, Dongshan Precision, Shuanghuan Transmission, and Guangxun Technology [2]. - The event was attended by over 60 Korean investors who engaged in deep discussions with company management about operational performance, investment value, and future development plans [2][4]. Group 2: Investment Value Presentation - The roadshow focused on three cutting-edge sectors: artificial intelligence, information technology, and new energy, with companies presenting their operational data and future strategies to showcase their investment value [4]. - Korean investors expressed that face-to-face communication allowed them to perceive the innovative vitality of Chinese enterprises and gain a more intuitive understanding of the development of new productive forces in China [4][10]. Group 3: Competitive Advantages of Chinese New Productive Forces - The unique competitive advantages of Chinese new productive forces that attract Korean capital include a globally unique supply chain system, vast market space, and the ability to commercialize cutting-edge technologies [5]. - Korean investors noted that Chinese companies are transitioning from "technology followers" to "standard setters," establishing significant positions in the global value chain through high-intensity R&D and patent strategies [5][8]. Group 4: Global Competitiveness of Shenzhen Companies - In the context of global industrial chain restructuring, the development of Chinese new productive forces is expected to promote the globalization of the Chinese economy and attract more foreign investment [7]. - Companies like iFlytek and Grinmei have successfully localized operations and innovated technologies in overseas markets, enhancing their international competitiveness and sustainable development potential [8]. Group 5: Recognition of Chinese Assets by Korean Institutions - The event's positive reception underscores the attractiveness of the Chinese market, with Korean investors increasingly recognizing the rapid technological innovation in China and its potential for long-term investment [10][11]. - Korean institutions are gradually shifting their asset allocation focus towards non-U.S. markets, acknowledging China's advancements in AI and robotics, and forming a consensus on China's leading position in future technological competition [10].