At a recent important press conference, the chairman of the China Securities Regulatory Commission, Wu Qing, revealed a key signal: the market capitalization of the technology sector in A-shares has surpassed 25%, exceeding the combined total of finance and real estate!This signal is unmistakable: robotics, artificial intelligence, and innovative pharmaceuticals are taking over the baton of economic growth, becoming the new “new three essentials” for high-quality development in the Chinese economy! Today, let’s discuss the logic and opportunities hidden behind this industrial leap that concerns the fate of the nation.First, let’s answer a core question: why are the new “new three essentials” what they are? And why now? This must be viewed from both domestic and international perspectives. Internationally, technology is currently the strongest weapon. Robotics is the foundation of intelligent manufacturing, AI is the “smart brain” for various industries, and innovative pharmaceuticals represent the high ground of life sciences—these three are strategic areas that any strong nation must compete for.Domestically, our economic growth logic has shifted from a model reliant on traditional factors such as land and population to one driven by new productive forces. In simple terms, it must be technology-intensive, high value-added, and capable of breaking through the internal competition dilemma of traditional industries. Robotics, AI, and innovative pharmaceuticals perfectly meet all these requirements.The theory is grand, but the market is the most honest. Let’s take a closer look at how hot these three sectors are:In the field of robotics, especially humanoid robots, many see them as the next potential world-changing intelligent terminal after computers, smartphones, and new energy vehicles. The leading A-share company, Huichuan Technology, has a market capitalization exceeding 200 billion, and the first-day increase of Siasun Robot was an astonishing 785%. Potential stocks like Yushu Technology and Zhiyuan Robotics, which have not yet gone public, have also become the darlings of capital.AI needs no further explanation; there are already several companies with market capitalizations exceeding 100 billion. Companies like Cambricon, Industrial Fulian, and Haiguang Information are working on AI computing chips and infrastructure, and this year, they have received so many orders that they can’t keep up, resulting in explosive performance. Companies like New Yisheng, Zhongji Xuchuang, and Tianfu Communication, which produce optical modules, have also seen their performance and stock prices soar due to the need for high-speed data transmission for large models.Finally, looking at innovative pharmaceuticals, Heng Rui Medicine is approaching a market capitalization of 500 billion, with WuXi AppTec, Hansoh Pharmaceutical, and Innovent Biologics also exceeding 100 billion. China’s innovative pharmaceuticals are gaining global market recognition, and the business model is shifting from “burning money” to “making money.” But amidst the excitement, where does China’s new “new three essentials” stand? The answer is: overall, it is moving from “running in parallel” to “leading the race.” Robotics is progressing the fastest and has entered the global first tier. The industrial chain is complete, the market is the largest in the world, and breakthroughs in domestic components are ongoing, but core components like high-end servo motors still need to be imported.AI is in a “parallel running” state, with some application areas “leading the race.” We have strong competitiveness in application fields like computer vision and speech recognition, but the underlying chips and framework ecology remain shortcomings.Innovative pharmaceuticals are moving from “following” to “running in parallel.” The explosive growth in overseas transaction volumes shows that our R&D capabilities are gaining international recognition, but challenges remain in target discovery and the translation of basic research.What advantages do we have? The three major advantages are the scene dividends brought by a super-large market, strong engineering and industrialization capabilities, and a continuously optimizing policy environment. However, the risk of being “choked” remains real; if key links are controlled by others, industrial upgrades may be “throttled.” Understanding the gap also clarifies the direction. On the policy side, we need to build an open data ecosystem, optimize the review and approval process, and increase investment in computing power infrastructure; on the industrial side, we should focus on interdisciplinary talent cultivation and encourage long-term capital investment in basic research. In particular, we should leave enough space for innovation and trial-and-error through a “regulatory sandbox” mechanism to avoid the constraints of a one-size-fits-all approach.In summary, the transition from the “new three essentials” to the new “new three essentials” reflects a change in the internal logic of China’s industrial upgrade. This path will certainly not be easy, but looking at the stock prices of these leading companies, the continuously introduced support policies, and the tangible technological breakthroughs by enterprises, capital has already cast its vote of confidence with real money. In this bull market, hard technology is the greatest certainty. Which sector do you favor? (End)