At the 2025 Analyst Conference, Morgan Stanley's Chief China Economist Xing Ziqiang delivered a keynote speech titled "China's New Chapter: Technology and Rebalancing."

Xing highlighted that China is at the forefront of AI innovation, leveraging its vast talent pool and offering cost-effective large language models. He noted that AI can both enhance and replace labor, emphasizing the need for policy support to mitigate disruptions in the job market.

Xing projected that the global humanoid robot market will reach $5 trillion, with cumulative deployments expected to hit 1 billion units by 2050. China is anticipated to contribute approximately 30% of this total.

[Presentation slides included]