Grace Shao
Amid discussions of multipolarity at the Munich Security Conference and calls for collaboration in artificial intelligence (AI) safety by Chinese leaders at the Paris AI Summit, tech firms and investors in China saw a volatile yet promising week in AI innovation. Both domestically, with Xi’s symposium with China’s top tech leaders, and internationally, China’s most senior leadership is taking a stance that they embrace AI and tech development and are open to global collaboration.
Chinese A share and ADRs responded with a rally this past week, largely driven by the confidence seen at these events and the news of governmental support for AI and big tech. This was coupled with strong signals from Chinese leadership encouraging entrepreneurship and technological advancement.
At the Munich Security Conference, Chinese Foreign Minister Wang Yi invoked a metaphor from Jin Yong’s martial arts novel “The Heaven Sword and Dragon Sabre”: “Let the strong do as they will; we remain as unperturbed as the gentle breeze caresses the hills. Let the fears act as they may; we maintain our poise as the bright moon illuminates the river.”
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