<p><strong>一波投资正涌向中国科技公司，同时该国法院裁定企业不能仅仅为了用自动化系统替代员工而解雇员工。</strong></p>
<p>这一时机引发了人们对保护就业是否实际上会增强而非削弱人工智能发展的质疑。华尔街银行摩根士丹利预计，当两家人工智能公司于 6 月 8 日加入基准时，将有 12.5 亿至 17.5 亿美元流入香港的科技股票指数。</p>
<p>这一预测与 Cryptopolitan 分享，尽管恒生科技指数自 1 月以来已下跌超过 11%。知识图谱科技（以智谱 AI 的名义运营）和 MiniMax 都在今年 1 月开始在香港交易。</p>
<p>这两家公司的股价均大幅上涨。摩根士丹利分析师将知识图谱的目标价从 560 港元上调至 990 港元。MiniMax 的目标价则从 990 港元上调至 1100 港元。</p>
<p>这两家公司代表了首批专注于人工智能模型的中国企业公开发行股票。竞争对手如 Moonshot（运营 Kimi AI 模型）和 StepFun 则保持私有。</p>
<p>智谱在处理编码任务方面表现突出。MiniMax 因提供从文本创作到音频生成等广泛能力而建立了良好的声誉。许多使用 OpenClaw AI 代理工具的人选择 MiniMax，部分原因是中国的人工智能模型通常比美国的替代品便宜。</p>
<p>不过，这一价格差距正在缩小。今年前三个月，访问中国人工智能模型的费用至少是美国模型费用的 17%。</p>
<p>一年前，这一数字仅为 5%。摩根士丹利分析师认为，领先的中国人工智能模型制造商今年每家将至少带来 10 亿美元的收入，明年这一金额将翻倍。</p>
<p>该银行的分析师写道，人工智能和大型语言模型公司将在香港股市中成为更大的力量，改变指数的外观、表现和吸引资金的方式。</p>
<p>他们指出监管机构的强力支持，指出科技公司在今年迄今通过香港首次公开募股筹集的资金中占 40%，在待处理交易中占 43%。</p>
<p>腾讯和阿里巴巴是恒生科技指数中市值最大的两只股票，今年均下跌了两位数的百分比。摩根士丹利将阿里巴巴视为中国互联网股票中的首选，认为这家电子商务公司是云计算和人工智能模型的投资机会。</p>
<p><strong>法院禁止解雇员工以腾出空间给自动化</strong></p>
<p>与此同时，上个月中国法院作出了一项裁决，可能会重塑企业在自动化方面的使用方式。杭州中级人民法院裁定，企业不能合法地解雇员工，仅仅是为了用人工智能系统替代他们。</p>
<p>该案件涉及一名被告知因工作自动化而接受降职的员工。他拒绝降职并被解雇。法院表示该公司违反了法律。</p>
<p>裁决指出，雇主不得将运营成本转嫁给员工。较长的部分解释了人工智能技术可以改善企业运营、释放员工并改善员工的工作条件。</p>
<p>法院表示，公司可以适应新的技术趋势，但必须考虑员工的合法权益，不能以技术变革为借口降低工资或单方面终止合同。</p>
<p>根据调查数据，中国在对人工智能的信任度方面位居全球第三，仅次于尼日利亚和印度。多项调查发现了类似的模式。</p>
<p>与美国的对比鲜明。尽管就业数字和股市强劲，美国人表示他们对经济不满。他们对人工智能及其公司的高管也表达了负面看法。</p>
<p>正如 Cryptopolitan 之前报道的那样，Polymarket 也在进行技术裁员。</p>
<p><strong>微剧热潮显示人工智能创造新内容市场</strong></p>
<p>在娱乐方面，中国创造了一种新的格式，称为微剧，短小的剧集持续一到两分钟，专为竖屏手机设计。</p>
<p>这一格式在疫情期间迅速流行，预计在 2024 年吸引了 6.6 亿观众。该节目正在迅速传播到其他国家。</p>
<p>一家名为 Vigloo 的韩国制作公司现在将大约 30% 的预算用于人工智能工具。该公司可以在一个月内完成一部剧集，而不是三个月，且成本仅为通常的五分之一。</p>
<p>但 Vigloo 的首席执行官 Neil Choi 表示，来自中国微剧行业的竞争不断加剧，因为该国支持基于人工智能的内容制作。</p>
<p>最聪明的加密思维者已经阅读我们的新闻通讯。想加入他们吗？快来吧。</p>

恒生科技指数

00100

安硕恒生科技

2 倍做多阿里巴巴 ETF - KraneShares

BABO

2 倍做多 BABA ETF - GraniteShares

<p>一波投资正涌入中国科技公司，摩根士丹利预测将有 12.5 亿至 17.5 亿美元进入香港科技指数，因为两家人工智能公司加入。尽管恒生科技指数下跌，知识图谱和 MiniMax 的股价却有所上涨。最近的一项法院裁决禁止公司解雇员工以用人工智能替代他们，强调了员工的权利。与此同时，中国的微剧格式正在获得越来越多的关注，展示了人工智能在内容创作中的作用。摩根士丹利将阿里巴巴视为中国市场上顶尖的人工智能投资机会</p>

<p><strong>A wave of investment is heading toward Chinese technology companies, at the same time courts in the country have ruled that businesses cannot fire employees simply to replace them with automated systems.</strong></p>
<div class="lb-trans"><p><strong>一波投资正涌向中国科技公司，同时该国法院裁定企业不能仅仅为了用自动化系统替代员工而解雇员工。</strong></p>
</div><p>The timing raises questions about whether protecting jobs might actually strengthen rather than weaken artificial intelligence development. Wall Street bank Morgan Stanley expects between $1.25 billion and $1.75 billion to move into Hong Kong’s technology stock index when two artificial intelligence firms join the benchmark on June 8.</p>
<div class="lb-trans"><p>这一时机引发了人们对保护就业是否实际上会增强而非削弱人工智能发展的质疑。华尔街银行摩根士丹利预计，当两家人工智能公司于 6 月 8 日加入基准时，将有 12.5 亿至 17.5 亿美元流入香港的科技股票指数。</p>
</div><p>The forecast, shared with Cryptopolitan, comes even as the Hang Seng Tech Index has fallen more than 11 percent since January started. Knowledge Atlas Technology, which operates under the name Zhipu AI, and MiniMax both began trading in Hong Kong this past January.</p>
<div class="lb-trans"><p>这一预测与 Cryptopolitan 分享，尽管恒生科技指数自 1 月以来已下跌超过 11%。知识图谱科技（以智谱 AI 的名义运营）和 MiniMax 都在今年 1 月开始在香港交易。</p>
</div><p>Share prices for both companies have climbed sharply. Morgan Stanley analysts bumped up their target price for Knowledge Atlas to 990 Hong Kong dollars from 560 dollars. MiniMax saw its target rise to 1,100 Hong Kong dollars from 990 dollars.</p>
<div class="lb-trans"><p>这两家公司的股价均大幅上涨。摩根士丹利分析师将知识图谱的目标价从 560 港元上调至 990 港元。MiniMax 的目标价则从 990 港元上调至 1100 港元。</p>
</div><p>The two companies represent the first major Chinese businesses focused on AI models to sell shares publicly. Rivals like Moonshot, which runs the Kimi AI model, and StepFun have stayed private.</p>
<div class="lb-trans"><p>这两家公司代表了首批专注于人工智能模型的中国企业公开发行股票。竞争对手如 Moonshot（运营 Kimi AI 模型）和 StepFun 则保持私有。</p>
</div><p>Zhipu stands out for models that handle coding tasks well. MiniMax has built a reputation for offering a wide range of capabilities, from creating text to generating audio. Many people using OpenClaw AI agent tools have picked MiniMax partly because Chinese AI models typically cost less than American alternatives.</p>
<div class="lb-trans"><p>智谱在处理编码任务方面表现突出。MiniMax 因提供从文本创作到音频生成等广泛能力而建立了良好的声誉。许多使用 OpenClaw AI 代理工具的人选择 MiniMax，部分原因是中国的人工智能模型通常比美国的替代品便宜。</p>
</div><p>That price gap is shrinking, though. In the first three months of this year, accessing Chinese AI models cost at least 17 percent of what American models charged.</p>
<div class="lb-trans"><p>不过，这一价格差距正在缩小。今年前三个月，访问中国人工智能模型的费用至少是美国模型费用的 17%。</p>
</div><p>A year earlier, the figure stood at just 5 percent. Morgan Stanley analysts think the leading Chinese AI model makers will each bring in at least $1 billion in revenue this year, with that amount more than doubling in the following year.</p>
<div class="lb-trans"><p>一年前，这一数字仅为 5%。摩根士丹利分析师认为，领先的中国人工智能模型制造商今年每家将至少带来 10 亿美元的收入，明年这一金额将翻倍。</p>
</div><p>The bank’s analysts wrote that AI and large language model companies will become much bigger forces in Hong Kong stock markets, changing how the index looks, performs, and attracts money.</p>
<div class="lb-trans"><p>该银行的分析师写道，人工智能和大型语言模型公司将在香港股市中成为更大的力量，改变指数的外观、表现和吸引资金的方式。</p>
</div><p>They noted strong backing from regulators, pointing out that technology firms accounted for 40 percent of money raised through Hong Kong initial public offerings so far this year and 43 percent of deals in the pipeline.</p>
<div class="lb-trans"><p>他们指出监管机构的强力支持，指出科技公司在今年迄今通过香港首次公开募股筹集的资金中占 40%，在待处理交易中占 43%。</p>
</div><p>Tencent and Alibaba, the two biggest stocks by market value in the Hang Seng Tech Index, have both dropped by double-digit percentages this year. Morgan Stanley picked Alibaba as its top choice among Chinese internet stocks, viewing the e-commerce company as an AI investment opportunity across cloud computing and AI models.</p>
<div class="lb-trans"><p>腾讯和阿里巴巴是恒生科技指数中市值最大的两只股票，今年均下跌了两位数的百分比。摩根士丹利将阿里巴巴视为中国互联网股票中的首选，认为这家电子商务公司是云计算和人工智能模型的投资机会。</p>
</div><p><strong>Courts ban firing workers to make room for automation</strong></p>
<div class="lb-trans"><p><strong>法院禁止解雇员工以腾出空间给自动化</strong></p>
</div><p>Meanwhile, a Chinese court made a ruling last month that could reshape how companies there use automation. The Hangzhou Intermediate People’s Court decided that businesses cannot legally fire workers just to replace them with AI systems.</p>
<div class="lb-trans"><p>与此同时，上个月中国法院作出了一项裁决，可能会重塑企业在自动化方面的使用方式。杭州中级人民法院裁定，企业不能合法地解雇员工，仅仅是为了用人工智能系统替代他们。</p>
</div><p>The case involved a worker told to accept a lower position because his job had been automated. He refused the demotion and was fired. The court said the company broke the law.</p>
<div class="lb-trans"><p>该案件涉及一名被告知因工作自动化而接受降职的员工。他拒绝降职并被解雇。法院表示该公司违反了法律。</p>
</div><p>The ruling stated that employers are prohibited from shifting operating costs to employees. A longer section explained that AI technology can improve how businesses run, free up workers, and make conditions better for employees.</p>
<div class="lb-trans"><p>裁决指出，雇主不得将运营成本转嫁给员工。较长的部分解释了人工智能技术可以改善企业运营、释放员工并改善员工的工作条件。</p>
</div><p>Companies can adjust to new technology trends, the court said, but they must consider workers’ legitimate rights and cannot use technological changes as an excuse to cut pay or end contracts on their own.</p>
<div class="lb-trans"><p>法院表示，公司可以适应新的技术趋势，但必须考虑员工的合法权益，不能以技术变革为借口降低工资或单方面终止合同。</p>
</div><p>After Nigeria and India, China ranks third globally in trust toward AI, according to survey data. Multiple surveys have found similar patterns.</p>
<div class="lb-trans"><p>根据调查数据，中国在对人工智能的信任度方面位居全球第三，仅次于尼日利亚和印度。多项调查发现了类似的模式。</p>
</div><p>The contrast with America is stark. Americans say they dislike the economy despite strong job numbers and stock markets. They also express negative views about AI and the executives running AI companies.</p>
<div class="lb-trans"><p>与美国的对比鲜明。尽管就业数字和股市强劲，美国人表示他们对经济不满。他们对人工智能及其公司的高管也表达了负面看法。</p>
</div><p>As reported by Cryptopolitan previously, Polymarket is also on rising tech layoffs.</p>
<div class="lb-trans"><p>正如 Cryptopolitan 之前报道的那样，Polymarket 也在进行技术裁员。</p>
</div><p><strong>Micro drama boom shows AI creating new content markets</strong></p>
<div class="lb-trans"><p><strong>微剧热潮显示人工智能创造新内容市场</strong></p>
</div><p>In entertainment, China has created a new format called micro dramas, short episodes lasting one or two minutes, designed for vertical phone screens.</p>
<div class="lb-trans"><p>在娱乐方面，中国创造了一种新的格式，称为微剧，短小的剧集持续一到两分钟，专为竖屏手机设计。</p>
</div><p>The format took off during the pandemic and reached an estimated 660 million viewers in China during 2024. The shows are spreading to other countries quickly.</p>
<div class="lb-trans"><p>这一格式在疫情期间迅速流行，预计在 2024 年吸引了 6.6 亿观众。该节目正在迅速传播到其他国家。</p>
</div><p>A South Korean production company called Vigloo now spends roughly 30 percent of its budget on AI tools. The company can finish a show in one month instead of three and at one-fifth the usual cost.</p>
<div class="lb-trans"><p>一家名为 Vigloo 的韩国制作公司现在将大约 30% 的预算用于人工智能工具。该公司可以在一个月内完成一部剧集，而不是三个月，且成本仅为通常的五分之一。</p>
</div><p>But Vigloo’s CEO, Neil Choi, said competition from China’s micro drama industry keeps intensifying as the country backs AI-driven content production.</p>
<div class="lb-trans"><p>但 Vigloo 的首席执行官 Neil Choi 表示，来自中国微剧行业的竞争不断加剧，因为该国支持基于人工智能的内容制作。</p>
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<div class="lb-trans"><p>最聪明的加密思维者已经阅读我们的新闻通讯。想加入他们吗？快来吧。</p>
</div>

Chinese AI stocks to draw $1.75B while banning what Silicon Valley does best

Cryptopolitan

MINIMAX-W

YieldMax BABA Option Income Strategy ETF

阿里巴巴

阿里巴巴-W

中国的人工智能股票预计将吸引 17.5 亿美元的投资，同时禁止硅谷最擅长的领域