Can they really be in a position to do that in the, in the coming months and years?

Um, I would say that, uh, Chinese are very good at manufacturing, uh, things.

And also in the past couple of years, as you can see, you know, in many of the industries, uh, China has a substantial technology upgrade.

Uh, and, and as a result, you know, China is now, you know, one of the biggest, uh, producers of high-tech, uh, equipments in the world, uh, and also EVs, uh, and, and, and new energy, uh, products.

So I would say that, you know, there is a potential that, you know, the, the Chinese, uh, producers can catch up very quickly.

But then at the same time, uh, at the same time though, um, you know, memory chip is a physical sort of a sem- semiconductor, uh, uh, uh, industry, right? So versus AI, which is a s- mostly, uh, LLM is a software development industry.

Uh, you know, in, in terms of LLM development, uh, the Chinese has, um, benefited substantially from the, you know, some of the open source, uh, of the, uh, LLM from the US.

What do you make of those measures? Are they going to, uh, support the economy in the way Beijing hopes?

Should overseas investors be looking at the China market?

Yes and no.

I think the products, the AI products, applications and models might be substantially cheaper than the Western counterparts.

But the companies who are doing AI is actually very expensive.

It's a lot more expensive than the Western counterpart.

For example, Zhipu was trading at a market valuation of well over 2 trillion yuan, and it was the most valuable company in the Chinese space.

So it's actually more valuable than, say, ICBC, the biggest bank on earth.

So what do you see the China markets doing for the rest of this year and where in particular do you see the opportunities?

What does this mean for businesses on the mainland?

Yeah, last summer, Peter, when we discussed the Chinese economy, we discussed how likely it is for the upstream price to increase going into this year, because many of the leading indicators last year is actually increasing.

So it's all going well for price increase, especially in upstream sectors.

Even this year, if there were no Iranian war, then we will still actually see an increase increasing price pressure in the upstream sectors.

So that is happening.

So we're seeing very strong move in the commodity sector, for example, in the energy sector, for example.

So that is even before the Iranian war happened this year.

What's going wrong for Hong Kong stocks?

That is the challenge that you see in some of these talks.

Yeah, well, I think it's similar to a couple fighting through a divorce process, right? So the two parties don't see each other in the future, but then at the same time, they still have to live with the consequence and how to divide up the assets.

Rebecca and Robin mentioned about the rare earth, it is because the counteroffer from the US part is probably not good enough for China.

So I think as a result, even though China has agreed to restart the approval process for rare earth exports at the Geneva session, the Chinese can always run a slower than expected process to approve it.

So normally it takes probably one to two weeks to approve to get a permit for exports, and now it takes two months.

Then that way, on the surface, on paper, China is not violating the agreement, but then at the same time, you're still not getting your key ingredient for your GPUs.

So I think China can do a lot of these things to slow down the process, and also at the same time, people have to recognize the situation that the American consumers probably can't live for much longer at the higher prospect of much substantially higher inflation.

I'm not sure that's the way the US sees that, but just explain that briefly to us.