According to Bank of America, the Alibaba listing in 2014 led to the rise of China's "new economy" sector, attracting long-term global capital inflows, and DeepSeek may become the "Alibaba IPO moment" of the current Chinese stock market. The "holy grail" of China's Al development is not necessarily "best in class", but "good enough" to support China's large-scale AI applications and drive China's productivity growth and economic growth. The DeepSeek "shock wave" has a wide range of implications,...