Deutsche Bank's Bear Snape: China's speed in chasing in the artificial intelligence race exceeds expectations

According to Securities Times, in the opening year of the "15th Five-Year Plan", how to view the long-term and structural changes in the trend of China's economy has become a focus of many macroeconomic scholars. Xiong Yi, Chief Economist of Deutsche Bank in Greater China, told Securities Times reporter in an interview that from the supply side, over the past year, the international community's perception of China's innovation ability and global economic and trade competitiveness has changed. A most intuitive example is the widespread dissemination of the term "DeepSeek moment", "which reflects that artificial intelligence as a key technology field in the future, China has shown a catching up speed beyond previous expectations," Xiong Yi said. Xiong Yi also revealed an observation from a micro perspective, at a top university in Beijing, majors in science and engineering fields which used to have lower preference have now become popular majors. "The whole change actually occurred in the past five years, scarce resources are being allocated to the needed areas, and talent is a very important link."