Profit for firms on the chip-heavy Star Market under the Shanghai Stock Exchange surged more than fourfold from a year earlier in the six months to June, while those on the similarly structured ChiNext board in Shenzhen rose 33 per cent, according to a report by the China Association for Public Companies.<\/p>\n
That outpaced the 19.5 per cent increase for all 5,557 mainland China-listed companies, marking the fastest growth since 2022. The interim earnings season wrapped up on Tuesday.<\/p>\n
The disparity reflects Beijing\u2019s push for technological self-reliance after policymakers set the goal of prioritising the tech industry in the AI race against the US<\/a>.Technology and high-end manufacturing are becoming the new engines of economic growth in ChinaZhang Qiyao, Industrial SecuritiesChina\u2019s big tech platforms are accelerating AI adoption by using home-made chips to support computing power, while memory chipmaker ChangXin Memory Technologies<\/a> (CXMT) and other AI hardware companies have boosted capacity after tapping capital markets.<\/p>\n \u201cTechnology and high-end manufacturing are becoming the new engines of economic growth in China,\u201d said Zhang Qiyao, analyst at Industrial Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"Profit for firms on the chip-heavy Star Market under the Shanghai Stock Exchange surged more than fourfold from…\n","protected":false},"author":2,"featured_media":603218,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[345,5560,114,27104,133350,272663,272664,23933,272662,272665,62196,85,144676,272661,46,149691,4136,100349,106733,99051],"class_list":["post-603217","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-ai","tag-beijing","tag-business","tag-cambricon-technologies","tag-changxin-memory-technologies","tag-china-association-for-public-companies","tag-china-chengtong-holdings-group","tag-china-merchants-securities","tag-china-reform-holdings","tag-chinext","tag-csi-index","tag-il","tag-industrial-securities","tag-interim-results","tag-israel","tag-listed-companies","tag-nvidia","tag-shanghai-stock-exchange","tag-star-market","tag-zhongji-innolight"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/603217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=603217"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/603217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/603218"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=603217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=603217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=603217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}