Guangdong's AI Push Boosts Tech Stocks, ChiNext Index Leads Gains

On May 6, the market saw a robust start to the day, with the ChiNext Index leading the gains. The Shanghai Composite Index closed above 3,300 points. The Boshi Science and Technology Innovation ETF (588790) closed with a 1.51% increase. Among its constituent stocks, Xinhai Technology (688595.SH) rose by 10.34%, Youfang Technology (688159.SH) increased by 10.31%, and Tianzhun Technology (688003.SH) gained 6.8%.

The Guangdong Provincial Government Office recently issued a document titled "Several Measures to Further Stimulate Market Vitality and Accelerate the Construction of a Modern Industrial System in Guangdong Province." The document emphasized the development of application scenarios and encouraged public service institutions, including government agencies, to be the first to adopt large AI models. This initiative aims to establish city-level real-world testing sites for autonomous driving and low-altitude economy, with plans to create more than 20 regional characteristic scenarios and over 100 demonstration scenarios with promotional value and driving effects annually. This effort is expected to accelerate the formation of large-scale commercial applications.

This move is part of a broader strategy to integrate AI into various sectors, including autonomous driving and low-altitude economy. By establishing city-level real-world testing sites, the government aims to create a conducive environment for the development and deployment of AI technologies. The initiative also includes plans to create more than 20 regional characteristic scenarios and over 100 demonstration scenarios annually, which are expected to have significant promotional value and driving effects. This effort is expected to accelerate the formation of large-scale commercial applications, further boosting the AI industry's growth and development.

The recent political bureau meeting underscored the importance of accelerating the implementation of the "AI+" action plan, highlighting the government's strong support for AI development. This support is expected to drive growth in various sectors, including AI, robotics, smart elderly care, and cross-border payments. The government's emphasis on AI development is a clear indication of its commitment to fostering innovation and technological advancement in the country. This initiative is expected to create new opportunities for businesses and investors, further driving the growth and development of the AI industry.