Throughout the first quarter of 2025, the rebound in Chinese tech stock valuations has been driving global investors to reassess the sector’s investment potential. Innovations in AI, advanced manufacturing, and domestic solutions are reshaping the Chinese domestic market and expanding globally. Meanwhile, despite this optimism, tech cycle volatility remains a concern, valuations approach historic peaks, and policy expectations remain untested. In this shifting terrain, which sectors will draw the most capital, and how must investors refine their strategies to ride the crest of the next wave of growth? Can low-cost large models unlock the promise of widespread on-device intelligence? Will AI’s integration into healthcare and manufacturing yield greater returns?