China to Spend $295B on Nationwide AI Buildout | The China Show 6/10/2026

Watch on YouTube ↗  |  June 10, 2026 at 06:20  |  1:42:20  |  Bloomberg Markets
Speakers
Jeff Li — Chief Investment Officer for Global Equities, E Fund Hong Kong
Susan Chan — Head of Asia-Pacific, BlackRock
Bloomberg Intelligence Senior Industry — Senior Industry Analyst, Bloomberg Intelligence
Private Capital Panel Speaker (unnamed) — Senior Managing Partner, BEGI (likely)

Summary

The show covers a massive Chinese AI data center buildout plan worth $295B over five years, its market implications, and multiple investment views from senior executives. Geopolitical tensions with US-Iran strikes and macro concerns like Fed rate expectations also feature. Guests Jeff Li, Susan Chan, and a BI analyst present bullish theses on Chinese AI supply chains, innovation stocks, China equities broadly, Asian credit, and Chinese telecoms, while Hong Kong's financial secretary discusses the IPO outlook and regulatory environment.

  • Bloomberg report reveals China plans $295 billion in AI data center buildout over five years, mostly using domestic suppliers like Huawei.
  • Geopolitical flareups (US strikes on Iran, drone attack on US fleet) add to risk-off sentiment, pushing oil higher and equity indices lower.
  • Jeff Li, CIO at E Fund, argues AI supply chain scarcity trade remains the most profitable, with Chinese leaders cheap at ~10x GDP.
  • Li also highlights China's engineering ecosystem advantage, calling many tech/innovation stocks deeply undervalued.
  • Susan Chan, BlackRock APAC Head, sees value in China equities due to cheap valuations and AI + Asia-for-Asia trends.
  • Chan is bullish on Asian credit and advocates for private market infrastructure and private credit as essential for long-term portfolios.
  • Bloomberg Intelligence analyst expects Chinese telecom operators to gain from the AI buildout via new revenue streams.
  • Hong Kong Financial Secretary Paul Chan says IPO fundraising will be better than 2025, but cross-border regulatory crackdowns cause caution.
Ideas
Jeff Li Chief Investment Officer for Global Equities, E Fund Hong Kong 15:24
Long Chinese AI supply chain scarcity.
Chinese AI supply chain leaders are cheap (around 10x GDP) and experiencing severe shortages, creating a scarcity trade. Fundamentals and ROI in the AI sector are strong and attracting global capital, making supply chain positions the most profitable trade even as scarcity shifts along the chain from CPUs to fiber optics.
Chinese AI supply chain stocks HIGH
Jeff Li Chief Investment Officer for Global Equities, E Fund Hong Kong 17:25
China engineering edge highly undervalued.
China has transformed into the world's largest engineering ecosystem, enabling lightning-fast innovation, commercialization, and scaling across EVs, robotics, AI, cloud, and batteries. Many Chinese tech companies are now global leaders but remain deeply undervalued relative to this innovation-driven growth, with a huge divergence between tech-driven firms and traditional macro-driven businesses that index-level data masks.
KWEB HIGH
Susan Chan Head of Asia-Pacific, BlackRock 69:53
China cheap, AI tailwinds drive upside.
China equities are attractively valued relative to global peers, and the 'China uninvestable' narrative is reversing. The combined mega forces of AI and the Asia-for-Asia investment trend will drive increasing capital into the market, creating significant value that will play out over time.
FXI HIGH
Susan Chan Head of Asia-Pacific, BlackRock 70:33
Asian credit yields resilient diversifier.
Asian credit yields are high and the asset class is incredibly resilient, providing great diversification for portfolios. Despite traditionally low secondary liquidity, the opportunity set is tremendous and BlackRock sees strong potential in this category.
Asian credit MED
Susan Chan Head of Asia-Pacific, BlackRock 72:32
Allocate to private infrastructure/credit.
Long-term portfolios cannot deliver required outcomes without private markets. In particular, infrastructure and private credit offer powerful long-term returns, diversification, and alignment with national development, and BlackRock has recently made large acquisitions in this space, confirming its conviction.
Private market infrastructure/credit LOW
Bloomberg Intelligence Senior Industry Senior Industry Analyst, Bloomberg Intelligence 78:27
Chinese telcos boost from AI buildout.
China's $295 billion nationwide AI data center buildout will allow telecom operators to sell AI service capacity much more cheaply, providing a much-needed revenue boost after core telecom services have flattened out, making telecoms direct beneficiaries of the plan.
Chinese telecom operators MED
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This Bloomberg Markets video, published June 10, 2026, features Jeff Li, Susan Chan, Bloomberg Intelligence Senior Industry discussing Chinese AI supply chain stocks, KWEB, FXI, Asian credit, Private market infrastructure/credit, Chinese telecom operators. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jeff Li, Susan Chan, Bloomberg Intelligence Senior Industry  · Tickers: Chinese AI supply chain stocks, KWEB, FXI, Asian credit, Private market infrastructure/credit, Chinese telecom operators