At UBS’s China A-share seminar, Fang Dongming, head of UBS Global Financial
Markets China, said the A-share market is entering a new phase of repair and
evaluation as risks abate, policy expectations improve and earnings trends turn
positive. He flagged scope for additional incremental policy measures in H2.
Strategic tech—notably AI—alongside consumption and property are likely to
receive more policy support. Innovation and high-end manufacturing are reshaping
China’s external trade narrative, with the AI supply chain already a material
driver of import‑export growth. Targeted R&D, model‑architecture advances and
open‑source collaboration are making China’s AI industry more cost‑competitive
and shifting the global AI competitive landscape.
