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Mainland China tech rallies as chip effort kicks in

There is a Chinese tech stock rally, but not in the places that foreign investors are used to looking for it.

High-tech manufacturing, including semiconductors, chip manufacturing equipment and batteries, led returns to the Shenzhen 300 Index this year, while popular Internet names lagged.

The Chart of the Day shows the Information Technology sub-index of the CSI 300 against the Hang Seng Tech Index during the past year.