On August 13, 2025, China's financial markets experienced a significant upswing, with trading activity and market sentiment reaching bullish levels. The combined turnover on the Shanghai and Shenzhen exchanges reached 2.15 trillion yuan (approximately $300 billion), marking the highest volume since February 21. This surge is largely attributed to optimism surrounding the artificial intelligence sector, particularly following DeepSeek's announcement on February 21, making its advanced AI model's code publicly accessible.
The Shanghai Composite Index closed at 3,683.46 points, a gain of 0.48%, surpassing its previous peak. The ChiNext index advanced by 3.6%, its strongest single-day performance since January. This upward trend is supported by robust domestic liquidity and recent policy initiatives aimed at channeling more capital into the stock market. DeepSeek's decision to open-source its AI model code is seen as a catalyst for AI development, fostering a more collaborative and accessible environment globally. A Bank of America survey indicated increased optimism among global fund managers regarding the Chinese market, with expectations that the government will implement measures to address deflationary pressures. The market crossing the 2 trillion yuan turnover mark is interpreted as a strong signal of entrenched bullish sentiment and growing investor confidence.