Guo Guoping, chief scientist of Origin Quantum and deputy director of the Key Laboratory of Quantum Information of the Chinese Academy of Sciences, emphasizes the significance of this development. With independent control over core technologies, from quantum chips to quantum computers and operating systems, China has solidified its position as a major player in the quantum computing arena.
The quantum computing market is expected to witness exponential growth, with venture capital funding surging from $659 million in 2022 to $1.1 billion in 2023. Market size projections indicate a potential value of $10 billion between 2026 and 2030, representing a compound annual growth rate of 30-50%. As the competition intensifies, China and the United States find themselves neck-and-neck in this transformative technology race.
Despite the challenges posed by recent US export controls targeting Chinese quantum research, China's progress in quantum computing remains undeterred. The "Origin Wukong" computer, offering free access to users in 124 countries and regions, has completed over 231,000 computing tasks and garnered more than 9 million remote visits. This global engagement demonstrates China's strength and confidence in its homegrown quantum technology.
Guo emphasizes the importance of establishing a quantum ecosystem that integrates various disciplines and industries. Collaboration with China's national supercomputing network, launched in April 2024, marks a significant step towards expanding application scenarios and driving industrial iteration. Over 200 service providers have joined the network, contributing cutting-edge digital innovations in scientific computing, industrial simulation, and AI model training.
China's policymakers recognize the crucial role of scientific and technological innovation in nurturing emerging industries like quantum technology. Premier Li Qiang's recent visit to Anhui Province underscored the government's commitment to increasing investment in basic research and supporting innovative development. This strategic focus on fostering new quality productive forces is expected to create new engines for sustained economic growth.
As the world witnesses the integration of quantum computing, supercomputing, and intelligent computing over the next five years, China stands poised to capitalize on the rapid development supported by stronger computing power. Origin Quantum and other key players in the Chinese quantum industry are working diligently to establish a robust quantum ecosystem that will drive future industrial leadership.
SSE: OQCT
Price: ¥87.50
Change:+ 3.2%
The stock has been in an uptrend since the beginning of the year, with strong support at the ¥80 level and resistance at ¥95.The 50-day moving average has crossed above the 200-day moving average, indicating a bullish trend. The MACD (Moving Average Convergence Divergence) also shows a positive outlook, with the MACD line above the signal line. Fibonacci retracement levels suggest potential resistance at ¥92.30 (38.2% retracement) and ¥98.60 (61.8% retracement), while support is likely to be found at ¥84.20 (23.6% retracement). Bollinger Bands indicate that the stock is trading near the upper band, suggesting a possible overbought condition in the short term. However, the expanding bands also point to increasing volatility and potential for further upward movement.
