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Tuchong Creative/Photo provided by Zhai Chao/Drawing

Securities Times reporter Wu Shaolong

On August 18, 2024, the Shenzhen Stock Exchange and the Saudi Ministry of Investment jointly held the "Investment in China New Horizons" A-share listed company promotion event in Riyadh, Saudi Arabia. This is the 7th China capital market promotion event held by the Shenzhen Stock Exchange overseas since 2024, aiming to show overseas investors the prospects for high-quality economic development in China and publicize the development trends of China's capital market and investment and industrial cooperation opportunities.

On the one hand, as an important engine of world economic growth, China's economic development situation continues to attract global attention. The 2024 Chinese Government Work Report lists "vigorously promoting the construction of a modern industrial system and accelerating the development of new quality productivity" as the top priority. In recent years, Chinese listed companies have been constantly innovating in technology and are at the forefront of national companies in promoting the formation of new quality productivity.

Jiang Tao, co-founder and senior vice president of iFlytek, said that in the face of the wave of general artificial intelligence, iFlytek has built the iFlytek Spark model based on the domestic computing power platform, and the model effect and application landing remain the leading in China. In terms of the industrialization of artificial intelligence, iFlytek has continued to empower education, medical care, office, automobile and other industries for many years and has achieved extensive results, continuously contributing to the high-quality development of people's livelihood and industry.

Twinings Biotech is mainly engaged in the research and development and industrialization of biofermentation technology and synthetic biology products. It is one of the leading domestic companies in the field of antibiotic intermediates and synthetic biology with a complete range of products and relatively advanced production processes. At present, Twinings Biotech's development model is undergoing a transformation from resource-driven to technology-driven. While ensuring resource investment in key areas, the company continues to innovate production methods in the biofermentation process and use AI to empower and enhance the industry's core competitiveness.

"Through this exchange, we have a more comprehensive and objective understanding of China's economic transformation and development process and investment opportunities." The overseas investors attending the meeting paid close attention to the practice of Chinese companies in forging new quality productivity, and believed that the power of innovation will inject impetus into China's industrial transformation.

On the other hand, in recent years, the Middle East has become an important destination for Chinese companies to "go global" due to its unique geographical location, rich resources and strategic value. The reporter found that in recent years, a number of listed companies that have taken a leading position in global strategic emerging industries have emerged in the Shenzhen Stock Exchange, and many of these companies are also models of capacity cooperation between China and the Middle East.

In the field of oil and gas technical services and oil and gas surface engineering construction, Jereh Holdings is the first company in China to obtain the APIQ2 certification. Since 2013, it has provided production increase and operation and maintenance services to the United Arab Emirates National Oil Company, Saudi Aramco, Kuwait National Petroleum Company and others in the Middle East market; Rongsheng Petrochemical is one of the leading companies in China's petrochemical industry with leading comprehensive strength. The company's annual business scale with Saudi companies has exceeded US$10 billion. In addition, the company has also established long-term and stable business cooperation with energy companies such as Abu Dhabi National Oil Company, Iraq's National Petroleum Organization, Kuwait Energy Company, and Oman Oil Company in the Middle East.

Foreign investors attending the event said that through this event, they gained a more comprehensive and in-depth understanding of China's economic development and expanded their connections with high-quality Chinese companies. In the future, they plan to increase their attention and research on the Chinese market and Chinese companies and discover more high-quality investment targets and industrial cooperation opportunities.

Chen Liang, Chairman of CICC, said that in the future, CICC will continue to work with partners from all walks of life in China and Saudi Arabia to facilitate cross-border capital connectivity and help build the "Belt and Road" initiative and Saudi Arabia's "Vision 2030".

Luo Wenjie, general manager of the index investment department of Southern Fund, pointed out that the current A-share market has a high investment cost-effectiveness, and convenient and extensive asset allocation can be achieved through tool products such as passive index funds.

Data shows that in the first half of 2024, China's stock ETF market trading volume ranked first in Asia and second in the world. The investment targets of China's ETF market have covered major asset classes such as stocks, bonds, currencies, commodities, and overseas stocks. As an efficient and convenient investment tool, index investment has room for future growth.

Since 2024, the Shenzhen Stock Exchange has held six overseas promotion activities in New York, Paris, London, Dublin, Singapore and Dubai. A relevant person in charge of the Shenzhen Stock Exchange said that in the next step, under the unified leadership of the China Securities Regulatory Commission, the Shenzhen Stock Exchange will actively expand the depth and breadth of services for overseas investors, strengthen the two-way connection between overseas investors and Chinese listed companies, tell the story of China's capital market well, attract overseas medium- and long-term funds to enter the market, and steadily and orderly promote the institutional opening of the capital market.