<p><strong>随着世界日益多极化，投资者也在相应地进行多元化投资，避免集中风险。根据在香港由米尔肯研究所主办的活动中的行业领袖观点，中国被视为这一趋势的潜在主要受益者。</strong></p>
<p>中东军事冲突没有明显的降级迹象，这引发了各种进一步的问题，包括国际规则秩序的持续衰退。</p>
<p>根据在 2026 年全球投资者研讨会香港会议上发言的行业领袖，投资者自然会考虑如何重新配置资产以更好地分散风险，尤其是超越日常新闻的影响。</p>
<p>«我们对短期并不太担心。更大的问题是中长期对全球经济的影响，»<strong>Kevin Lu</strong>，合伙人集团亚洲主席表示，他提到的担忧包括能源价格和地缘政治碎片化。«我们还非常关注的是，观察这些聪明资金的去向。»</p>
<p><strong>从美国多元化投资</strong></p>
<p>一些聪明资金正在寻求从美国多元化投资。<strong>Aaron Costello</strong>，剑桥协会亚洲负责人表示，非美国市场将在当前危机结束时受益，因为美国已经变得«如果不是不可靠，至少更加不稳定»，这导致其他国家必须关注发展以实现更自给自足。</p>
<p>Costello 观察到的一个主要趋势是投资者对中国的兴趣回归，欧洲投资者的态度有所缓和，美国投资者也逐渐升温，特别是他认为华盛顿希望与北京达成协议的迹象明显。</p>
<p>«所以我认为在中国投资的地缘政治风险溢价实际上已经缩小。如果中国能够实现 […] 盈利增长和回报，那么投资者将会回归，»他补充道。</p>
<p><strong>人工智能与生物科技主题</strong></p>
<p>根据 <strong>Hoi Tung</strong>，平安海外控股首席执行官兼董事长的说法，在中国，投资者需要考虑两个主要主题。第一个是人工智能，证据如著名的«DeepSeek 时刻»表明其能够与美国竞争。第二个是在生物科技领域，他认为中国在药物发现和临床前试验等领域具有优势。</p>
<p>«我认为如果你投资中国，显然这两个领域是重点。我认为这具有结构性优势，得益于政府支持、内嵌的竞争优势，以及可以利用的人力资源和人才支持，»Tung 表示。«我认为这些对我来说都是非常积极的。»</p>
<p><strong>超越中国</strong></p>
<p>在中国以外，讨论小组成员还谈到了其他新兴市场。<strong>Christopher Ganis</strong>，印度尼西亚投资管理局首席投资官——该东南亚国家的主权财富基金——指出，越来越多的公司正在将供应链转移到本土或友好国家，以适应快速变化的环境，从而带来新的投资机会。</p>
<p>我们正在一个不同的世界中运作，正如多极化世界的加速变得愈加明显。我认为，尽可能接近最低成本基础设施的口号现在正被尽可能接近客户基础以及尽可能接近原材料所取代，»Ganis 说。</p>
<p>«这对像印度尼西亚这样的经济体是有利的，但我们必须承认，如果我们开始从区域集团、像东盟这样的自然集团来看待这一点，它将会更有利。»</p>

<p>全球投资者正在多元化他们的投资组合，中国在持续的地缘政治紧张局势中，尤其是伊朗战争中，成为潜在的受益者。在香港举行的米尔肯研究所 2026 全球投资者研讨会上，行业领袖指出，投资者正在逐渐减少对美国的集中投资，寻求在非美国市场中的稳定性。中国的主要投资主题包括人工智能和生物技术，这得到了政府倡议的支持。此外，像印度尼西亚这样的新兴市场也引起了关注，因为公司正在调整其供应链以适应多极化的世界</p>

<p><strong>With the world becoming increasingly multipolar, investors are reacting in kind by diversifying and avoiding concentrated exposure. China is viewed as potentially a major beneficiary of this trend, according to industry leaders at a Hong Kong event hosted by think tank Milken Institute.</strong></p>
<div class="lb-trans"><p><strong>随着世界日益多极化，投资者也在相应地进行多元化投资，避免集中风险。根据在香港由米尔肯研究所主办的活动中的行业领袖观点，中国被视为这一趋势的潜在主要受益者。</strong></p>
</div><p>There are no obvious signs of imminent de-escalation in the military conflict in the Middle East, leading to various further questions, including the continued decline of the international rules-based order.</p>
<div class="lb-trans"><p>中东军事冲突没有明显的降级迹象，这引发了各种进一步的问题，包括国际规则秩序的持续衰退。</p>
</div><p>According to industry leaders speaking at the 2026 Global Investors’ Symposium Hong Kong hosted by US-based think tank Milken Institute, investors are naturally considering how to re-allocate assets to better diversify risk, especially above and beyond day-to-day headlines.</p>
<div class="lb-trans"><p>根据在 2026 年全球投资者研讨会香港会议上发言的行业领袖，投资者自然会考虑如何重新配置资产以更好地分散风险，尤其是超越日常新闻的影响。</p>
</div><p>«We're not too worried for the short term. The bigger question is [the] medium and long-term impact on the global economy,» said <strong>Kevin Lu,</strong> chairman, Asia, Partners Group, citing concerns including energy prices and geopolitical fragmentation. «The other thing we pay a lot of attention to is we sort of watch where this smart money goes.»</p>
<div class="lb-trans"><p>«我们对短期并不太担心。更大的问题是中长期对全球经济的影响，»<strong>Kevin Lu</strong>，合伙人集团亚洲主席表示，他提到的担忧包括能源价格和地缘政治碎片化。«我们还非常关注的是，观察这些聪明资金的去向。»</p>
</div><p><strong>Diversifying Away from the US</strong></p>
<div class="lb-trans"><p><strong>从美国多元化投资</strong></p>
</div><p>Some of this smart money is seeking diversification away from the US. <strong>Aaron Costello</strong>, head, Asia, at Cambridge Associates, said that non-US markets are set to benefit whenever the current crisis is over, as America has become «if not unreliable, certainly more erratic», leading other countries to have to focus on developments to become more self-reliant.</p>
<div class="lb-trans"><p>一些聪明资金正在寻求从美国多元化投资。<strong>Aaron Costello</strong>，剑桥协会亚洲负责人表示，非美国市场将在当前危机结束时受益，因为美国已经变得«如果不是不可靠，至少更加不稳定»，这导致其他国家必须关注发展以实现更自给自足。</p>
</div><p>One major trend Costello has observed is the return of investor interest in China, with a thaw from Europeans and a gradual warming up from Americans, particularly as he believes that it is clear that Washington wants to strike a deal with Beijing.</p>
<div class="lb-trans"><p>Costello 观察到的一个主要趋势是投资者对中国的兴趣回归，欧洲投资者的态度有所缓和，美国投资者也逐渐升温，特别是他认为华盛顿希望与北京达成协议的迹象明显。</p>
</div><p>«So I think the geopolitical risk premium investing in China actually has shrunk. And I think if China can deliver […] the earnings growth and returns, then the investors will come back,» he added.</p>
<div class="lb-trans"><p>«所以我认为在中国投资的地缘政治风险溢价实际上已经缩小。如果中国能够实现 […] 盈利增长和回报，那么投资者将会回归，»他补充道。</p>
</div><p><strong>AI and Bio Theme</strong></p>
<div class="lb-trans"><p><strong>人工智能与生物科技主题</strong></p>
</div><p>Within China, there are two top themes for investors to consider, according to <strong>Hoi Tung</strong>, CEO and chairman of Ping An Overseas Holdings. First is artificial intelligence with evidence, such as the renowned «DeepSeek moment», of being able to compete with the US. Second is in biotech, where he believes China has an edge in areas like drug discovery and preclinical trials.</p>
<div class="lb-trans"><p>根据 <strong>Hoi Tung</strong>，平安海外控股首席执行官兼董事长的说法，在中国，投资者需要考虑两个主要主题。第一个是人工智能，证据如著名的«DeepSeek 时刻»表明其能够与美国竞争。第二个是在生物科技领域，他认为中国在药物发现和临床前试验等领域具有优势。</p>
</div><p>«I think if you invest in China, obviously, I think these are two areas. I think it has a structural benefit given the government support, given the embedded competitive advantage, as well as the human resources and talent support that you can draw upon,» Tung remarked. «I think these are all very positive to me.»</p>
<div class="lb-trans"><p>«我认为如果你投资中国，显然这两个领域是重点。我认为这具有结构性优势，得益于政府支持、内嵌的竞争优势，以及可以利用的人力资源和人才支持，»Tung 表示。«我认为这些对我来说都是非常积极的。»</p>
</div><p><strong>Beyond China</strong></p>
<div class="lb-trans"><p><strong>超越中国</strong></p>
</div><p>Outside of China, panelists also spoke about other emerging markets. <strong>Christopher Ganis</strong>, chief investment officer of Indonesia Investment Authority – the Southeast Asian nation’s sovereign wealth fund – noted that more companies are onshoring or friend-shoring their supply chain to adapt to the fast-changing environment, resulting in new investment opportunities.</p>
<div class="lb-trans"><p>在中国以外，讨论小组成员还谈到了其他新兴市场。<strong>Christopher Ganis</strong>，印度尼西亚投资管理局首席投资官——该东南亚国家的主权财富基金——指出，越来越多的公司正在将供应链转移到本土或友好国家，以适应快速变化的环境，从而带来新的投资机会。</p>
</div><p>We are operating in a different world, right, that the acceleration of a multipolar world is becoming more prevalent. I think the mantra of getting as close as possible to the lowest cost infrastructure is now becoming superseded by getting as close as possible to the customer base, as well as getting as close as possible to the raw material,» Ganis said.</p>
<div class="lb-trans"><p>我们正在一个不同的世界中运作，正如多极化世界的加速变得愈加明显。我认为，尽可能接近最低成本基础设施的口号现在正被尽可能接近客户基础以及尽可能接近原材料所取代，»Ganis 说。</p>
</div><p>«And this plays out well for economies like Indonesia, but what we have to acknowledge is it will play even better if we start looking at it as […] more from a regional bloc, a natural bloc like the ASEAN.»</p>
<div class="lb-trans"><p>«这对像印度尼西亚这样的经济体是有利的，但我们必须承认，如果我们开始从区域集团、像东盟这样的自然集团来看待这一点，它将会更有利。»</p>
</div>

全球投资者是否在伊朗战争期间转向中国？