《大行報告》匯豐研究:中國互聯網監管壓力正緩解 料平台可為推動經濟發揮更大作用
匯豐環球研究發表報告表示,中國經濟全面重新開放已經七個月,但中國龐大的互聯網行業仍在與經濟復甦步履蹣跚、地緣政治緊張、投資者情緒疲軟和美國加息等問題搏鬥。中國大型互聯網公司股價於今年上半年平均累跌13%,該行預計行業將出現溫和增長,並認為美團-W(03690.HK)、騰訊(00700.HK)和百度-SW(09888.HK)等公司具有相對優勢,因相關公司專注於提供服務,業務多元化及投資策略明確。
雖然中國互聯網行業在許多領域已接近飽和點,但人工智能生成內容(AIGC)和數字醫療保健等新的增長領域正在迅速開放。隨著這兩個類別的競爭加劇,該行認為中國科技巨頭需要加大投資以確保未來的增長。 匯豐研究認為中國互聯網企業將開始將業務重點作兩大轉向,第一是通過海外併購擴大核心業務、第二是以人工智能為主導的新技術趨勢。
就監管而言,隨著政策制定者優先考慮經濟增長,該行終於看到監管壓力正在緩解的跡象,這將使所有大型互聯網平台在增長放緩之際在推動中國整體經濟發展方面發揮更大作用。雖然該行預計不會發生重大變化,但未來潛在負面監管意外帶來的波動性料會大幅減少。(wl/u)
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