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"China Cool" appeals to international tourists in more ways than one_我的网站

A |     　　连续7个交易日股价下跌后，英伟达（NVDA.O）将于当地时间8月26日公布的2027财年第二财季财报，成为市场关注焦点。
　　从8月14日至8月24日，英伟达7日累计跌幅7.47%，市值下滑4070亿美元。    

    Tourists from Egypt take selfies in front of the Hall of Prayer for Good Harvests at the Temple of Heaven Park in Beijing, capital of China, July 28, 2026. Thanks to the visa-free entry policies, China has witnessed an increasing number of foreign tourists visiting China this summer. According to the official data, 77.7 percent of foreign visitors entering China in the first half of the year enjoyed visa-free entry policies. (Xinhua/Ju Huanzong)
"I've come to nature's air conditioner."
That was the reaction of a Spanish tourist visiting southwest China's Yunnan Province this summer. Before arriving, he had been enduring temperatures of around 40 degrees Celsius. But when his flight landed in Kunming and he stepped out into the breeze, the relief was immediate. His trip in search of cooler weather had proved well worth it.
This summer, as heat waves swept across many parts of the world, an increasing number of foreign tourists are heading to China to escape the heat.
In places such as Zhangjiajie in central China's Hunan Province, where mountain scenery creates a natural cooling effect, and the water town in "Jiangnan," the scenic region south of the Yangtze River, where visitors can enjoy the slower pace of life by the canals, cool weather has become part of the travel experience itself. Local specialties and products that help people beat the heat add to the appeal.
But the "cool" in "China Cool" goes beyond the weather. It also comes from the variety of experiences available to visitors. They can listen to the bells of an ancient temple at dawn, learn traditional crafts from artisans, take a high-speed train to another city, or simply order a late-night meal with a few taps on a smartphone. Such everyday experiences showcase China where tradition, convenience and modern life coexist.
That sense of "cool" is even more striking when it comes to technology. Visitors can explore smart factories, try AI glasses with real-time translation, interact with robots, and take autonomous vehicles. For many foreign visitors, these experiences offer a glimpse of China's high-tech future and add a new dimension to the country's image beyond its traditional landmarks.
The growing number of international visitors has also been facilitated by China's efforts to make travel more convenient. According to the National Immigration Administration, China received 22.91 million inbound foreign visitors in the first half of 2026, up 20.4 percent year on year. Visa-free entries accounted for 77.7 percent of this total.
As more visitors arrive and experience the country firsthand, the way China is talked about overseas is also evolving. Phrases such as "China Travel," "Becoming Chinese" and "Chinamaxxing" have gained attention on overseas social media, while "China Cool" offers a new way to capture the broader appeal of these experiences, reflecting interest in China that is no longer experienced only through its famous landmarks, but also through its culture, technology, services and everyday life.
For international visitors, China is proving to be cool in more ways than one.
    Foreign tourists visit the Central Street in Harbin, northeast China's Heilongjiang Province, July 22, 2026. Thanks to the visa-free entry policies, China has witnessed an increasing number of foreign tourists visiting China this summer. According to the official data, 77.7 percent of foreign visitors entering China in the first half of the year enjoyed visa-free entry policies. (Xinhua/Na Yuqi)
    A foreign tourist looks on as local women make Tiaohua cross-stitch embroidery, a traditional handicraft passed down through generations by women of Huayao, a branch of Yao ethnic group, at Huxingshan Yao Township in Longhui County, Shaoyang City, central China's Hunan Province, Aug. 4, 2026. During midsummer, Huxingshan Yao Township embraces a tourism boom thanks to its alpine climate, rich intangible cultural heritage and folk traditions. (Photo by Zeng Yong/Xinhua)
    Dutch tourists select souvenirs at the Silk Street building in Beijing, capital of China, June 1, 2026. (Xinhua/Ju Huanzong)
。8月24日美股收盘，英伟达市值5.05万亿美元，逼近5万亿美元关口。　　要重新提振市场信心，英伟达首先要证明自身的赚钱能力。英伟达此前预计，2027财年第二财季营收910亿美元左右，上下浮动2%，并预计该季度GAAP毛利率74.9%，正负50个基点波动。此外，英伟达预计今年CPU收入有望达到200亿美元。　　一些机构释放了对英伟达最新财季业绩增长的信心。　　高盛One-Delta对冲基金业务主管Rich Privorotsky在最新客户报告中预计，英伟达公布的数据将令人印象深刻。

B | 高盛分析师James Schneider在最新研报中预计，英伟达最新季度有望交出亮眼的成绩单，第二和第三财季的每股收益可能分别较华尔街共识高出6%、12%。

C | 投行Jefferies则认为，英伟达最新财季营收有望达到950亿美元，高于市场的普遍预期，下一财季收入指引有望达到1080亿美元。　　但市场仍有其他顾虑。　　Rich Privorotsky在客户报告中称，英伟达财报可能只是中性催化剂，因为市场的关注焦点已转向AI产业更细节的层面，如融资结构、毛利率、利润如何在产业链环节中分配。

D | 内存成本上涨也需要考量，英伟达针对内存涨价的措施可能对内存板块产生影响。　　近期有市场消息称，英伟达已通知一些客户：由于内存成本飙升，搭载英伟达AI芯片的服务器将会涨价超15%。价格上调对市场需求的影响仍待观察。

E | 　　James Schneider则在研报中表示，由于财报的部分利多可能提前反映，市场对这份财报的期待门槛有所升高。英伟达估值仍存在上行空间，但前提是三大催化因素需要实现：英伟达在客户融资平台方面维持审慎、公司推动大规模回购与分红计划、超大规模云服务商获利指标改善。　　高盛的考虑涵盖了近期市场上关于循环融资、科技厂商资本支出可持续性的担忧。　　背景是部分北美科技厂商最新财报显露出资本开支增长伤害自由现金流的迹象，若科技厂商无法及时从AI投入中获利，投资者担忧影响大额资本开支持续性。英伟达本月早些时候还与6家金融机构建立独立融资平台，用于支持AI基础设施建设，虽然英伟达已澄清不涉及循环融资，但市场忧虑可能还需进一步缓解。　　英伟达Vera Rubin平台出货情况如何，也是此次财报电话会上受关注的焦点。　　Vera Rubin平台按计划将于今年第三季度投产并出货。作为该平台的一部分，英伟达当地时间8月24日宣布可提高代理式AI token（词元）生成速度的Groq3 LPX机架已全面投产，并宣布SpaceX将部署Vera CPU、SpaceX首款Starmind人工智能卫星将搭载Vera Rubin NVL72。　　Jefferies预计，英伟达向Vera Rubin的过渡速度将比此前Blackwell更快，原因包括Vera Rubin平台可复用Blackwell积累下来的液冷制造基础等。该机构预计新品在英伟达2027财年第三财季的GPU收入中将占12%，下一季度增加至40%以上。　　市场也关注行业竞争。上一次英伟达市值跌破5万亿美元是4月底，当时多家美股科技公司透露了最新的芯片自研计划，让英伟达面临的竞争环境变得更加复杂。但随后不久，英伟达市值重新站上5万亿美元，并于5月中旬达到历史高点5.7万亿美元。　　近期英伟达的竞争对手AMD已在积极推动旗下首款机架级系统Helios部署，该机架级系统第三季度量产，计划第三季度末发货，AMD已谈下Anthropic、OpenAI、微软、Meta、甲骨文几个客户。这意味着，第三季度将是英伟达和AMD在机架级系统领域交手的关键季度，外界关注英伟达在此次财报电话会上透露的进展。　　作为英伟达的客户，谷歌近期则拓展了TPU（张量处理器）合作伙伴，外界分析认为谷歌将进一步扩大自研AI芯片部署，摆脱对英伟达GPU的单一依赖。针对客户自研芯片的努力，如何维持竞争力，也是英伟达需要回答的问题。（文章来源：第一财经）。

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Published on:07:51:08