President Xi Jinping recently held a rare meeting at Beijing’s Great Hall of the People with some of the biggest names in China’s technology sector. Four years back, tech regulations in China and the government’s approach toward the tech sector were quite different than what it is shaping up to be today. Jack Ma, in particular, was once a high-profile target of Chinese regulators, disappearing from public view for several months after his criticizing speech against Xi in 2020.
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According to analysts, this change implies how policymakers are now concerned about slowing growth and the US’s efforts to limit China’s technological development. Meeting with tech leaders such as Alibaba’s Jack Ma, Jinping strongly urged them to “show their talent” and remain confident in the power of China’s model and market.
“The line-up of entrepreneurs suggests that Xi’s priority for the private sector is for it to support his goals of achieving technological self-reliance and supply-chain security”
– Neil Thomas, a fellow on Chinese politics at the Asia Society Policy Institute’s Center for China Analysis.
Gathering business leaders has been a pro-move by the President that underscores the importance of private sector innovation and the role it is playing in the global AI arms race. In light of this, Jinping has noted that private businesses have “broad prospects and great promise” to create wealth and opportunity. There is an inherent advantage in developing new industries with China’s governance and the scale of its market.
“It is the right time for the majority of private business and entrepreneurs to show their talent”.
-President Xi Jinping
Analysts note how gaining ground in technology is crucial for China as it races against the US for AI supremacy.
“It’s a tacit acknowledgement that the Chinese government needs private-sector firms for its tech rivalry with the United States. The government has no choice but to support them if it wants to compete with the United States.”
-Christopher Beddor, deputy China research director at Gavekal Dragonomics in Hong Kong.
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10. Mercurity Fintech Holding Inc. (NASDAQ:MFH)
Number of Hedge Fund Holders: N/A
Mercurity Fintech Holding Inc. (NASDAQ:MFH) is a digital fintech company that focuses on distributed computing and digital consulting. On February 19, the company announced the formation of a majority-owned subsidiary in Hong Kong, Aifinity Base Limited (“Aifinity”). Aifinity Base will be focusing on manufacturing advanced liquid cooling panels specifically tailored for artificial intelligence (AI) infrastructure, and high-performance computing (HPC).
The panels will also aim to improve the efficiency and performance of Nvidia® chip-powered GPUs and other high-performance AI accelerators. The company will deploy innovative liquid cooling technology and smart components to manage intense heat generated by modern AI computing systems. Looking ahead, it also plans to expand the cooling panel manufacturing further into comprehensive cooling solutions.
“Today’s AI systems generate intense heat, and they need cooling solutions that can keep up. Through Aifinity Base Limited, we would like to enter into the thermal management industry and later arrive at the forefront of thermal management innovation.”
-Shi Qiu, CEO of the Company, the parent company of Aifinity.
9. Amdocs Limited (NASDAQ:DOX)
Number of Hedge Fund Holders: 28
Amdocs Limited (NASDAQ:DOX) is a technology company that offers product-driven information system solutions. On February 18, the company announced amAIz Suite, a generative AI solution for communications service providers (CSPs). The portfolio of products, implementable on any technology stack, allows for unifying data, generating insights, and deploying AI solutions to transform business operations. By integrating machine learning and predictive capabilities over a patented Telco Data Fabric, the solution will be able to manage large amounts of telecommunications data across a CSP’s entire business.
The suite includes Amdocs AI & Data Platform (AIDP) that manages large amounts of data, Customer Experience Insights (CXI) that delivers real-time insights and predicts customer issues, and amAIz Agents that leverage telco-specific expertise for enhancing care, experience, network, operations, sales, services. The company will showcase amAIz Suite and other AI-based solutions at the Mobile World Congress Barcelona, March 3-6, 2025.
“In order to reach a future of agentic experiences, generative AI must be able to autonomously perform tasks, make decisions, and interact with customers. That evolution requires a robust data infrastructure, the ability to extract rich insights from diverse sources, and the orchestration of complex actions across business domains and processes. The new Amdocs’ amAIz Suite enables a significant leap forward for service providers, helping them unify data, generate insights and deploy generative AI applications and agents that transform their business, network, and operations.”
-Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs.
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