Fears that increasingly capable AI agents pose existential threats to the traditional software business have rippled through global equity markets, triggering a sharp sell-off in US software stocks this week and spilling over to China’s software-as-a-service (SaaS) sector. Analysts say the impact on China could be just as profound, but shaped by different structural dynamics. “SaaS growth in China in the next few years will be driven by several leading companies in cloud services and AI –...