Chinese AI stocks rally on demand optimism and policy support
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Chinese AI stocks rally on demand optimism and policy support
Chinese AI stocks surge after Beijing unveils measures to boost AI adoption and ease listings; Zhipu and MiniMax jump over 23%, while Alibaba and Tencent extend declines
By Bloomberg June 22, 2026, 1:12:16 PM IST (Published)
2 Min Read
Chinese artificial intelligence-related stocks jumped, with sentiment boosted by a more supportive policy tone from Beijing and ongoing global demand for the technology.
Shares of large language model (LLM) developers Zhipu, formally known as Knowledge Atlas Technology, and MiniMax Group surged at least 23% each in Hong Kong, bringing their year‑to‑date gains to about 2,000% and 260%, respectively. Onshore listed chipmakers Semiconductor Manufacturing International and Yuanjie Semiconductor Technology also rose.
China, on Thursday, June 18, introduced a range of measures to expand AI adoption in consumer markets, promote the rollout of next-generation AI devices and deepen integration in e-commerce, logistics and retail. Meanwhile, the securities regulator pledged to ease listing requirements and encourage dual listings for AI firms, signalling a broader push to accelerate industry growth.
Chinese shares have also been tracking gains in US peers as investor enthusiasm for AI and broader technology themes remained elevated. Local markets were shut for a holiday on Friday, June 19.
“The market is using this news as an excuse to push prices higher. Investors are already all-in on tech and following US stocks,” Xiang Xiaotian, director at Shanghai Chengzhou Investment Management, told Bloomberg. “Anything not tied to AI is basically still in a bear market.”
Positive reviews of Zhipu’s latest system in comparison to global performers also helped sentiment.
The rally in Chinese AI shares stands in contrast with an 18% decline in the Hang Seng Tech Index, which remains dominated by traditional internet platforms. These companies have come under pressure amid intense competition and rising AI-related investment, which has weighed on profitability.
Hong Kong-listed shares of Alibaba Group Holding and Tencent Holdings are set for a fifth day of declines, partly reflecting muted 6.18 sales and weak consumption trends.
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