Chairman of Houp Investment

Sun Yat-sen University

Fang Fenglei, born in Hunan in 1952, graduated from Sun Yat-sen University in 1982, and studied advanced management courses at Harvard Business School. In 1993, he began to participate in the establishment of China International Capital Corporation, China's first Sino-foreign joint venture investment bank, and became "the first generation of Chinese domestic investment bankers." Former Vice President of China International Capital Corporation Limited, Executive President of Bank of China International Holdings Limited, Executive President of China Industrial and Commercial East Asia Financial Holdings Limited, Chairman of Goldman Sachs Gao Hua Securities Co., Ltd.

Fang Fenglei has led and participated in a number of large-scale capital market projects, including China Telecom's acquisition of Hong Kong Telecom and PCCW; China Mobile, China Telecom, China Unicom, PetroChina, Sinopec, CNOOC, Baosteel and other companies project. Fang Fenglei was named "One of the Ten Most Influential People in China's Capital Market" by Financial Asia; in 2008 he was awarded the "Outstanding Contribution Award for the Development of Financial Services in Asia" by Euromoney.

After the 2008 financial crisis, the world economy entered a new normal, with low growth, low inflation and high debt coexisting for a long time. Yields in financial markets are becoming increasingly scarce. "At present, nearly 30% of global government bond yields are negative, and euro area negative interest rate bonds account for 60%." We will be in a low interest rate environment for a long time, and it will become increasingly difficult to obtain stable and sustainable returns. "