An ex-strategist from a Bank of Communications unit who was banned from social media in mainland China over bearish market reports has reemerged at a hedge fund in Hong Kong.
Hong Hao has joined Shanghai-based GROW Investment Group to open its first office in Hong Kong and be its chief economist, according to a social media post from the former China strategist from Bocom International.
According to Hong, there are vast opportunities for rich Chinese to invest abroad, especially with 70 to 80 percent of their wealth tied to real estate. The new office will provide strategies for wealthy investors and their offshore asset allocation.
«After 25 years of research, I finally cross the road from sell-side to buy-side,» Hong said in a Twitter post.
Vocal Analyst
Prior to joining GROW, Hong was a renowned analyst for his outspoken views on the Chinese financial market and economy. He appeared regularly on major financial news outlets and famously predicted the country’s 2015 stock market crash.
One of the most notable incidents of his career was the suspension earlier this year of his Chinese social media accounts, including WeChat and Weibo, where he has more than 3 million followers. While it is unclear what led to the suspension, Hong just had openly voiced concerns about China’s zero-Covid restrictions and its impact to the economy.
«Shanghai: zero movement, zero GDP,» he said on Twitter in late March before he reportedly resigned from Bocom International days later.
GROW is a Shanghai-based global asset manager founded in June last year by a group of industry veterans and backed by strategic investors such as Navigator Global Investments and Lighthouse Investment Partners.
