Li Zhiying, who heads the Greater China equities division at the Investment Director's Office of UBS Wealth Management, emphasized two key developments in China's AI landscape. Firstly, significant strides have been achieved in monetizing AI technology, exemplified by internet companies, including a notable gaming firm, which have successfully boosted ad click-through rates and revenues through AI-tailored content and short videos. Secondly, the localization of chips is gathering momentum, with domestic chips now largely meeting the demands of inference applications, albeit training chips still rely on imports. According to Li Zhiying, the valuation of AI-related stocks in the Chinese market appears highly appealing, with the Hang Seng Tech Index sporting a price-to-earnings ratio of approximately 17 times. The constituent companies are projected to witness an earnings growth rate of 20%-25% over the next three years.