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China’s Gen Z investors are turning fund managers into social media stars

On a fan community page on Chinese social media platform Weibo, hundreds of users have posted comments and pictures, some covered in little red hearts, to express their admiration for a star they affectionately call Kun Kun. “Kun Kun flies bravely, iKun will always follow him; Kun Kun never gets old, and will remain a blue-chip till the end,” some users wrote alongside the picture. “Kun Kun,” whose full name is Zhang Kun, is neither a pop star nor actor. Instead, he is one of China’s most prominent fund managers who oversees around 120 billion yuan ($18.6 billion) in assets at E Fund Management, an established Chinese asset management firm. Zhang’s followers, who label themselves “iKun,” (“i” is a homophone for the Chinese word love), have also created accounts on Weibo posing as his “global fan clubs.” “Kun Kun, I would like to accompany you for many, many years,” a follower wrote. “Let’s witness both the bull and bear markets, but still return with young hearts.”
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REN ZHENGFEI: HUAWEI HAS A VERY AMBITIOUS “PLAN B” – CNN

Recently, Ren Zhengfei said in an interview with CNN that, unlike Microsoft, Google has not obtained the permission of the US Department of Commerce. Thus it cannot resume business with Huawei. According to Huawei’s CEO, the company has an ambitious “Plan B”. “I believe we can build our own global ecosystem in the next two to three years.”

Ren Zhengfei

Ren Zhengfei said that Huawei wholeheartedly embraces the global supply chain. However, to ensure survival, Huawei also needs to be prepared for the worst-case scenario. Ren Zhengfei emphasized that “if the US does not allow its technology companies to provide us with products, we have other options,” he added, “if these options become mature and stable, I don’t think we are likely to cooperate with US companies anymore.”

A report from UBS and Fomalhaut Techno Solutions shows that Huawei’s latest flagship smartphone, the Mate 30 series, does not include US parts. In addition, its state-of-the-art 5G base station also excludes US parts. When asked what would happen if Google did not get a license to cooperate with Huawei, Ren Zhengfei replied, “We have a very ambitious Plan B”. According to him, Huawei can become the world’s largest intelligence phone seller. However, this will take some time to achieve.

As of now, the US and Huawei are still at loggerheads. Although it appears that a compromise is in sight, there is more than we know. We will have to keep our fingers crossed as events unfold.


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