Fidelity International: China is reshaping its economic growth engine.

On July 3, at the 2025 Fidelity International Asia Pacific Investment Conference, Stuart Rumble, Fidelity International's Asia Pacific Investment Director, stated that the emergence of DeepSeek earlier this year shocked the world, achieving almost equivalent functionality at a much lower cost than previous AI models, highlighting China's structural advantages in research and development, talent, data, and effectively driving innovation; prompting investors to reconsider structural investment opportunities in the Chinese market. Fidelity International's Asia economist, Liu Peiqian, stated that despite increasing external volatility and uncertainty in recent months, China's policies and growth path remain relatively stable. In recent quarters, policy focus has shifted towards stimulating domestic demand through reforms, targeted easing policies, and regulatory adjustments to boost domestic market sentiment and confidence.