China’s homegrown tech stars are gaining momentum, earning catchy nicknames as they take on the U.S. “Magnificent Seven.”
A surge in Chinese tech stocks, fueled by AI startup DeepSeek and President Xi Jinping’s meeting with top tech leaders, has propelled the Hang Seng Index among the world’s best-performing markets. Brokerages have coined labels like “Six Little Dragons,” “Seven Sisters,” and the “Terrific Ten” to capture investor enthusiasm.
Haitong Securities suggests the “Seven Sisters” will emerge from AI, chip-making, and high-end manufacturing, likely including Tencent, Alibaba, Xiaomi, and BYD. Meanwhile, the “Terrific Ten” – featuring Alibaba, JD.com, Geely, BYD, Xiaomi, Tencent, NetEase, Baidu, Meituan, and SMIC – is outpacing the U.S. tech giants. These companies have driven a 70% gain in the Hang Seng Tech Index over the past year, compared to Nasdaq’s 27% rise.
The U.S. “Magnificent Seven” – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – were named by Bank of America strategist Michael Hartnett in 2023, referencing the classic 1960 Western film.
China’s “Terrific Ten” is said to originate from British author David Walliams’ novels or a DC Comics superhero team. UBS has also dubbed eight AI-driven Chinese stocks as the “VENUS Eight,” while Hangzhou boasts six standout startups known as the “Little Dragons.”
With state backing and a booming AI sector, China’s tech challengers are making waves, intensifying the rivalry with their American counterparts.
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