Hong Hao, outspoken China analyst banned from social media, joins hedge fund in Hong Kong

Hong Hao quit Bocom earlier this year, soon after his social media accounts on WeChat and Weibo were suspended for unspecified violations

He starts at Chinese hedge fund GROW Investment Group as strategist and research chief, based in Hong Kong

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Hong Hao, former managing director and head of research at Bocom International in a June 2020 file picture. Photo Xiaomei Chen

Published: 1:30pm, 31 Aug 2022Updated: 1:54pm, 31 Aug 2022

Hong Hao, the former China strategist at Bocom International, who resigned earlier this year following bearish reports on the country, will be joining a Shanghai-based hedge fund as its chief economist in Hong Kong.

Hong said he is opening GROW Investment Group’s first office in Hong Kong and will help provide strategies for wealthy investors with their offshore asset allocations. Hong, who will also serve as research chief, starts his new role on Monday.

GROW is a global asset management company with a focus on high net worth individuals. It was founded in June last year by a group of veteran managers, with Navigator Global Investments and Lighthouse Investment Partners among its strategic investors.

A man walks past a Bank of Communications branch in Hefei, eastern China’s Anhui province. Photo: Reuters

“I am excited at the opportunities in this market, the market for overseas assets that are missing from rich Chinese portfolios,” Hong said. “It’s going to be one of the biggest markets, especially for rich Chinese. Right now, 70 to 80 per cent of the money is in property. There is so much cash waiting to be invested, especially overseas.”

Hong is known for his outspoken views on China’s financial markets and the economy. He had his Chinese social media accounts, including those on WeChat and Weibo where he has more than 3 million followers, suspended earlier this year for unspecified violations.

While it’s unclear which of his posts may have crossed the line, China has censored posts related to economically disruptive lockdowns. In late March, as authorities locked down Shanghai, Hong voiced his concern about the restrictions. “Shanghai: zero movement, zero GDP,” he wrote on Twitter.