11 October 2026 | 9:20PM HKT Portfolio Strategy Research CHINA STRATEGY AI Changes The Game: China is coming AI has changed the game for China equities Since the DeepSeek moment in early 2025, almost US$5tn of market cap has been created by Chinese AI-related public equities via price gains and IPOs. Now, AI stocks contribute to 42% of the total market cap and 57% of turnover across A and H shares. An AI duopoly in the making China has been a pivotal exporter to the global AI supply chain, representing ~50% ...