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Investing.com -- Shares in Chinese brain-computer interface (BCI) firms are rallying after Beijing set out plans to build “two or three” global players in the sector by 2030, aiming to rival Elon Musk’s Neuralink and spur breakthroughs in core technologies by 2027.
In Hong Kong, Nanjing Panda Electronics (HK:0553) shares gained nearly 11% this week, and MicroPort NeuroTech (HK:2172) added 10.5%.
In Shanghai, Xiangyu Medical (TASE:BLWV) (SS:688626) shot up almost 28% this week, while Jiangsu Apon Medical Technology (SZ:300753) advanced 9.3%.
The gains followed a July 30 policy document issued by seven ministries, including the Ministry of Industry and Information Technology, which set targets to achieve breakthroughs in key BCI technologies by 2027.
The plan also calls for building an advanced technology system and industrial framework, as well as nurturing numerous “little giants” and “unicorns” to accelerate industry growth. While no specific companies were named, the goal of creating “two to three leading players” has fueled investor optimism.
BCI technology enables direct communication between the human brain and external devices by interpreting neural signals, with current applications focused largely on medical rehabilitation.
In the first half of this year, hospitals in Beijing and Shenzhen opened dedicated BCI wards, while cities and universities across China have launched clinical trials.
In June, researchers at Nankai University said they had performed the world’s first interventional BCI procedure on a human, helping a hemiplegic patient recover motor function.
Compared with Neuralink’s first invasive device trial in January 2024, the team said their approach offered less trauma, higher signal accuracy, and shorter recovery times.
Investor interest has been climbing. In February, Shanghai-based StairMed raised 350 million yuan ($48 million) in what it called the largest funding round for a Chinese BCI start-up.
By contrast, Neuralink closed a $650 million round in June, valuing the U.S. company at about $9 billion.
The global BCI market, valued at $2.62 billion in 2023, is projected to grow to $12.40 billion by 2034, according to Precedence Research.