China pension, insurance funds boost ‘hard tech’ holdings

This shift reflects a structural realignment of state-linked long-term capital toward strategic tech sectors, not a fleeting trade. The doubling of allocation shares signals policy intent to channel patient money into areas deemed critical for national innovation, potentially reshaping capital market flows and valuation baselines. The key question is whether this pace of accumulation is sustained, as it could deepen the influence of policy-driven funds over tech equity pricing and governance.