On July 16th, the "2026 Sina Global Capital Summit," organized by Sina Finance, was held in Hong Kong. The event, themed "Rooted in Hong Kong, with a Global Vision," brought together leading figures from global politics, business, academia, and research for in-depth discussions on trends in global capital markets, cross-border capital allocation, and the international expansion of tech companies.

The summit featured a distinguished lineup of speakers, including former senior government officials, representatives from international financial institutions, top investment banks, industry leaders, and prominent academics. They engaged in high-level dialogue on emerging trends in the global financial landscape.

Hong Hao, a noted economist and Chief Investment Officer of Lotus Asset Management, delivered a speech at the event.

Hong Hao stated that within the current wave of the AI revolution, another asset class is experiencing a spiraling price increase: industrial metals and various other bulk commodities. This includes the recent sharp surge in crude oil prices, which has been catalyzed by geopolitical conflicts.

It is no exaggeration to say that the AI revolution is essentially a revolution of a supercycle for commodities. If commodities enter such a supercycle, the classic principles of inflation will largely lose their explanatory power.