Leading Chinese AI figures express caution about surpassing the US in generative AI breakthroughs within the next three to five years, citing a significant gap in computing resources dedicated to research. Despite strong investor interest and successful IPOs for companies like Zhipu AI and MiniMax, executives from Alibaba, Tencent, and Zhipu AI suggest that meeting current delivery demands consumes most resources, hindering next-generation research. While acknowledging China's progress and growing innovation, they identify advanced chipmaking tools and computing power as key bottlenecks compared to US counterparts.