Chinese AI shares surged on a wave of optimism from Beijing's policy shift and global demand. Shares of Zhipu and Mini Max Group jumped at least 23% each in Hong Kong, pushing year‑to‑date gains to about 2,000% and 260%. Onshore chipmakers SMIC and Yuanjie Semiconductor also climbed, reflecting investor confidence in AI infrastructure.

China unveiled a package of measures to drive consumer AI adoption, roll out next‑generation devices, and deepen integration in e‑commerce, logistics and retail. The securities regulator pledged to ease listing rules and encourage dual listings for AI firms, signalling a broader push to accelerate industry growth.

The rally contrasts with an 18% drop in the Hang Seng Tech Index, still dominated by traditional internet platforms facing stiff competition and AI investment pressure. Alibaba and Tencent shares are in a fifth straight day of declines, reflecting muted sales and weak consumption trends.

These gains underscore how policy support and global demand can lift niche AI stocks, but they also highlight the limits of traditional tech giants as they struggle to monetize AI progress. Investors now focus on companies that can translate AI into tangible revenue streams.