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China Fund News reporter Maureen

Recently, the news that Zhao Wei, the former chief economist of Guotai Junan Securities, joined Shenwan Hongyuan spread like wildfire.

Zhao Wei appointed as Chief Economist of Shenwan Hongyuan

Recently, at the 19th China Financial Forum 2024 academic lecture hosted by the Financial Research Institute of the People's Bank of China, Zhao Wei publicly attended the event as the chief economist of Shenwan Hongyuan.

Public information shows that Zhao Wei holds a doctorate in economics from Fudan University, with research interests in macroeconomics, monetary policy and international finance. From 2013 to date, he has worked at Orient Securities, Changjiang Securities, Kaiyuan Securities and Guojin Securities Research Institute.

From May 2016 to June 2020, Zhao Wei worked at Changjiang Securities, where he became the assistant director of the research institute and the chief macro bond analyst. He was also responsible for the management of five teams: macro, strategy, financial engineering, overseas strategy, and fixed income. During his tenure at Changjiang Securities, Zhao Wei was twice named the best analyst by New Fortune in the field of macroeconomic research. He was ranked 4th in 2018 and 3rd in 2019.

From June 2020 to November 2021, Zhao Wei worked at Kaiyuan Securities, serving as chief economist and deputy director of the research institute of Kaiyuan Securities, officially joining the ranks of chief economist of the sell-side.

At the end of November 2021, Zhao Wei officially announced that he had joined Guotai Junan Securities as chief economist, filling the position of chief economist at Guotai Junan Securities which had been vacant for 11 years.

In 2024, Zhao Wei was awarded the title of "2023 Shanghai Financial Industry Innovation Figure".

Yang Chengzhang served as chief economist for nearly 20 years

Yang Chengzhang, known as a "grassroots economist", has served as chief economist of Shenwan Hongyuan Research Institute since 2004. According to the above-mentioned insider, Yang Chengzhang, who was born in 1963, is approaching retirement age.

Before taking up the position of chief economist, he served as deputy director and carried out a series of reforms and innovations in his field of macro research. He established the positioning of macro research that organically combines macro, industry, finance and policy, promoted the consultancy, specialization and standardization of macro policy research, and had a considerable impact on domestic institutional investors.

After becoming the chief economist, he advocated making the most difficult things easy to understand, so that people without any economics background could understand the laws of economic operation as much as possible from the perspective of real life.

According to previous media reports, Yang Chengzhang was once conducting research in a supermarket and was asked by an old man what industrial concentration was. Yang Chengzhang asked in return, if they were to go to the supermarket and push a cart to buy things, what would be good to choose and what would be difficult to choose? The answer came quickly: milk and home appliances are easy to choose because the industrial concentration is high and it is easy for everyone to choose a brand; but for rice and grains, which have a lower brand concentration, you need to judge the quality yourself and spend time selecting.

"Macroeconomic policymakers have a big picture. Securities companies' research is mostly based on the market, while university research focuses more on academic theories. For example, when it comes to the same understanding of supply-side structural reform, the government research team's starting point is to study policies. University research has a bit of a comparative academic meaning, while our research is to be detailed and cover all walks of life. In other words, our research is grassroots and street-sweeping, but it is more down-to-earth." Yang Chengzhang is therefore called a "grassroots economist" by many people.

At the same time, Yang Chengzhang is one of the few CPPCC members from the securities industry. With more than five years of experience as a member of the National Committee of the Chinese People's Political Consultative Conference, he submits nearly 30 proposals, social conditions and public opinions and other high-quality suggestions every year. He always focuses on economic issues, providing "survival guides" for small and medium-sized enterprises and "threading the needle" for financial institutions.

In his view, the performance of CPPCC members' duties is not only to contribute to social and government decision-making, but also to improve their own abilities. Through the performance of their duties, they have learned many thinking skills such as good observation, refinement, and summary. "Participation in politics and government affairs must think about problems from more dimensions, and the ultimate goal is to promote and guide higher-quality development of the economy and society."

Editor: Captain

Audit: Wooden Fish

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