Who maintains it, the watch list of companies positioning for future inclusion, source references, and the full disclaimer language.
The China Physical AI Index is a rules-based research index published by Tech Buzz China. It tracks the public-equity performance of Chinese companies whose business depends on AI being embodied in the physical world.
It is an information product — a way of seeing the China Physical AI thesis through public markets — not an investment product. There is no fund tracking it. Read the methodology for the rules and the constituents page for the current list.
The Index is researched, calculated, and published by Tech Buzz China, led by founder Rui Ma. The methodology is designed in the open and revised based on industry feedback. All decisions and changes are logged publicly.
Tech Buzz China's broader research — including the Humanoid Robotics Tracker covering ~400 Chinese robotics companies (private and public) — provides the curated universe from which Index constituents are drawn.
Deloitte Insights, Tech Trends 2026. December 10, 2025. Contributors: Jim Rowan, Tim Gaus, Franz Gilbert, Caroline Brown.
deloitte.com/us/en/insights/topics/technology-management/tech-trends/2026/physical-ai-humanoid-robots.htmlUsed as the anchor definition for "Physical AI" in §2 of the methodology. Quoted on the Overview and Methodology pages.
Tech Buzz China. Curated research database covering ~400 Chinese robotics companies (private and public), with company-level data on funding, products, and competitive positioning.
robotics.techbuzzchina.comPrimary source for the constituent universe — TBC's existing research database, filtered to publicly listed companies meeting §4 inclusion criteria.
US Department of Commerce, Bureau of Industry and Security. The Entity List restricts US-origin technology exports to listed companies but does not restrict US-person investment in publicly traded securities.
bis.doc.gov/index.php/policy-guidance/lists-of-parties-of-concern/entity-listUsed in §4.5 investability screen. Entity-List-only names are asterisked in the constituent list, not excluded.
Office of Foreign Assets Control, US Department of the Treasury. The Specially Designated Nationals (SDN) List and Non-SDN Chinese Military-Industrial Complex Companies (NS-CMIC) List prohibit US-person ownership of listed companies' securities.
home.treasury.gov/policy-issues/financial-sanctionsUsed in §4.5 investability screen. Companies on either list are excluded from the Index.
US Department of Defense. The Section 1260H List of Chinese Military Companies restricts DoD procurement from listed companies but does not prohibit US-person investment.
defense.govReferenced in §4.5. Inclusion on §1260H alone is not a basis for exclusion from the Index.
External quotes are used under the principle of fair use for research and commentary. Companies and methodologies referenced for descriptive comparison (S&P, MSCI, FTSE, iShares, Global X) are mentioned for context only; this Index is not affiliated with any of them.
The China Physical AI Index is a public information product published by Tech Buzz China for informational and educational purposes only. Please read this section carefully.
The Index, the methodology, the constituent list, calculated index values, and any related commentary published by Tech Buzz China are not investment advice, not a recommendation, and not an offer or solicitation to buy, sell, or hold any security or financial instrument. Tech Buzz China is not a registered investment advisor and does not provide personalized investment advice. Readers should consult their own qualified financial, legal, and tax advisors before making any investment decision.
The Index is a calculated value derived from publicly available market data. It is not a fund, not an ETF, and not a tradable financial instrument. No investable product tracking the Index exists as of this publication. References to specific companies are descriptive and are not recommendations regarding those companies.
Index values for periods prior to the live publication date are backtested and hypothetical. They are calculated by applying the current methodology to historical data and do not reflect actual trading, actual investor returns, transaction costs, taxes, slippage, fees, or the impact of material economic conditions that would have affected real investment decisions made in real time.
Hypothetical performance has inherent limitations: it benefits from hindsight in defining categories and selecting constituents, and may not reflect the methodology a reasonable index provider would have published in those earlier periods.
Past performance — whether actual or hypothetical — is not indicative of future results.
Securities listed in mainland China (A-shares), Hong Kong (H-shares), and US-listed Chinese ADRs are subject to risks that are not present, or less present, in many developed markets. These include but are not limited to: currency-exchange risk; capital-controls risk; regulatory and policy risk; differences in accounting and disclosure standards; potential delisting and audit-inspection risk for ADRs; and geopolitical risk. These factors may materially affect the value of constituent securities and any portfolio actually invested in them.
The methodology, constituent list, and weights are subject to change at any quarterly review per the rules in §7 of the methodology. Readers should not rely on any specific element of this methodology as permanent.
Tech Buzz China and its affiliates make no representation or warranty, express or implied, regarding the accuracy, completeness, timeliness, or reliability of the data, methodology, or any calculations presented. To the maximum extent permitted by applicable law, none of the foregoing parties accept any liability for any loss, damage, or other consequence arising from any use of, or reliance on, the Index or its accompanying materials.
Tech Buzz China, its team members, and their immediate families may hold positions in some or all of the constituent securities. Tech Buzz China does not currently have any commercial relationship (licensing, sponsorship, sub-advisory, or similar) tied to any fund or product based on this Index. Any such relationship, if entered into in the future, will be publicly disclosed.
This material is published from the United States and is not directed at, or intended for use by, any person in any jurisdiction where such use would be contrary to local law or regulation.
Feedback on the methodology, suggestions for the watch list, or research collaborations — please reach out via techbuzzchina.com.