[Perspective: AI Reshapes the Landscape of China's Stock Market, Related Listed Companies Create Nearly $5 Trillion in Market Value] Goldman Sachs Chief China Equity Strategist Liu Jinzhen and his team released the latest report stating that since the "DeepSeek Moment" in early 2025, China's artificial intelligence (AI)-related listed companies have created nearly $5 trillion in market value through stock price increases and IPOs. Currently, AI stocks account for 42% of the total market capitalization in A-shares and Hong Kong stocks, and 57% of the total trading volume. The report also noted that China has consistently been a key exporter in the global AI supply chain, holding approximately 50% of the global market share in certain AI power and infrastructure sectors. With advancements in domestic AI technology, China has gradually established an internal circulation AI value chain, which also encompasses advanced semiconductors, (open-weight) large language models, and application layers.