Renowned Chinese private equity figure Dan Bin’s identity recently changed to “China Hong Kong,” while stepping down as the general manager of the company, retaining only the title of manager. Dan Bin, who had previously warned investors of risks and publicly criticized the stock market, engaged in a series of disputes with another prominent economist, Ren Zeping, leading to both of them being banned from speaking out.
According to a report by the Chinese media outlet Daily Economic News on October 8, data from Tianyancha showed that on August 26, Dongfang Port underwent an “investor change.” Dan Bin’s identity shifted from “China” to “China Hong Kong,” and on the same day, he also relinquished his position as the general manager of Dongfang Port, keeping only the manager’s title. Currently, Dan Bin remains the controlling shareholder and chairman of Dongfang Port.
Information from the China Foundation for Fund Managers (CFFM) also indicated that Dongfang Port filed for a change in shareholders on September 30, which is currently being processed.
As of now, Dan Bin’s stake in Dongfang Port remains at 69%, with fund manager Huang Haiping holding 2%, CEO Zhou Mingbo holding 10%, Vice President and Executive Director Zhang Min holding 10%, Vice President Zheng Weifeng holding 5%, and CFO Wu Huiling holding 2%.
Dan Bin established Dongfang Port (Hong Kong) Investment Management Co., Ltd. back in 2011. Data suggests that currently, the US stock market has become Dan Bin’s largest major investment destination.
On Weibo, many netizens have been following the changes in Dan Bin’s status with interest, with comments like:
“Everyone has their own aspirations. In Hong Kong, but heart set on America.”
“In a couple of days, it’ll be a new identity again, a US resident.”
“They’ve long advised not to catch loaches in the pond.”
“Is the age of considering a way out approaching?”
“Officially banning left and right.”
“This outcome was not unexpected.”
“An exit strategy has been prepared.”
Before the Chinese National Day holiday in 2024, the A-shares market saw a frenzy of gains that were hyped as a bull market. However, following the holiday, the market crashed for two consecutive days, trapping many new investors with no way out, leading to significant losses. During this period, Chinese internet influencer Ren Zeping and Dan Bin had intense disagreements on their bullish and bearish views. Ren Zeping, who was banned from speaking out due to his frank remarks on the economic situation, was a symbol of optimism for the A-shares market, while Dan Bin had been consistently warning about the risks.
On October 2, 2024, Dan Bin candidly commented on the surging A-shares market, saying, “Such a rapid rise will inevitably lead to a sharp fall. If trapped again this time, all mobilized forces will have been exhausted… Unlocking the situation will seem like a distant prospect.” Ren Zeping advised against “being bearish on the Chinese economy and policies, offering constructive suggestions instead of negative comments,” and emphasized on not becoming a “traitor” at crucial times. On October 15, Ren Zeping and Dan Bin’s social media accounts were officially banned.
Public records show that Dan Bin began his investment career in 1992 and has around 13 million followers on Weibo. His last Weibo update was on October 14, 2024.