Ged Carroll

Category: hong kong | 香港 | 홍콩 | 香港

哈囉 – here you’ll find posts related to Hong Kong. That includes the territory, the culture, business, creativity and history. I lived and travelled to Hong Kong a number of times, so sometimes the content can be quite random.

In addition, I have long loved Cantonese culture and cuisine, so these might make more appearances on this category. I am saddened by the decline in the film and music production sectors.

I tend to avoid discussing local politics, and the external influence of China’s interference in said politics beyond how it relates to business and consumer behaviour in its broadest context.

Often posts that appear in this category will appear in other categories as well. So if Apple Daily launched a new ad format that I thought was particularly notable that might appear in branding as well as Hong Kong.

If there are subjects that you think would fit with this category of the blog, feel free to let me know by leaving a comment in the ‘Get in touch’ section of this blog here.

  • Victor Mallet + more things

    New York Times Will Move Part of Hong Kong Office to Seoul – The New York Times – a sweeping national security law passed by China in June — aimed at stymieing opposition and pro-democracy forces in Hong Kong — has unsettled news organizations and created uncertainty about the city’s prospects as a hub for journalism in Asia. Some Times employees in Hong Kong have faced challenges securing work permits, hurdles that are commonplace in China but were rarely an issue in the former colony. – The visa comments are interesting as we’ve previously only seen this with the FTjournalist Victor Mallet. In August 2018, Andy Chan (then of the Hong Kong National Party) gave a talk at the Hong Kong Foreign Correspondents Club (FCC) and Victor Mallet was the chairperson for the event. Chan went on to be arrested numerous times. Victor Mallet had his work visa renewal rejected on October 2, 2018 – one day before his old visa ran out. Victor Mallet is a watershed moment for China and Hong Kong. Victor Mallet is the mainlandisation of Hong Kong.

    12 things I learned by switching from the 13-inch MacBook Pro to the 12.9-inch iPad Pro | Macworld – I really wanted it to work. A couple of weeks ago I closed my MacBook on a Friday afternoon with no plans to open it for a week. I wasn’t going on vacation—rather, I was testing the theory that the iPad could actually be “a computer….”Sadly, it didn’t work out. I spent more time fighting my iPad than loving it, and when push came to shove, it was just too difficult to get things done as quickly and efficiently as I do on my Mac. Some of it is muscle memory, of course, but there are still fundamental issues with the iPad that prevent it from being the work-first device Apple wants it to be. So I’m giving it up – not terribly surprised as they’re very different use cases

    Why older people really avoid technology.| Slate – According to the Pew Research Center, 73 percent of people over 65 in the U.S. use the internet, up from 14 percent in 2000. The older the person, the less likely she is to embrace the internet, social media, or smartphones, but those who have adopted these technologies use them a lot and learn new skills to do so. Seniors are the fastest growing online demographic, though some remain holdouts. In many of those cases, the real barrier to entry isn’t technological—it’s personal – more on old people’s of technology

    driven by experimentation, NIKE ISPA is a bold approach to functional design – nice profile of Nike’s ISPA team who have taken up where Nike Considered left off

    China will punish Britain for defying its will. We need allies to hold the line | The Guardian – whilst the historical facts in the op-ed are all true, what’s more interesting is the media tone against all aspects of UK society against China now. This indicates a failure in Chinese elite-focused influence campaigns in the UK to deliver soft power. What is more concerning is the lessons that China might take away from these defeats, will they double down on ‘victimhood’ and aggression, or will they try and broaden their ‘base’ of appeal

    Signal’s New PIN Feature Worries Cybersecurity Experts – VICE – move away from telephone numbers. Its a tough call as there are no easy decisions to make when telephone numbers can be a security vector

    Musique Strategies – oblique and practical strategies for music – what happens when music production meats Brian Eno’s Oblique Strategies

    Engineers of the Soul: Ideology in Xi Jinping’s China by John Garnaut – Sinocism – what business leaders should read before entering China. Understanding Chinese Communist Party neo-Stalinist thought is essential

    In Australia, concerns mount that China could use TikTok to spy on users | South China Morning Post – the bigger threat would be an influence operation

    Understanding CCP Resilience: Surveying Chinese Public Opinion Through Time | Ash Center – since the start of the survey in 2003, Chinese citizen satisfaction with government has increased virtually across the board. From the impact of broad national policies to the conduct of local town officials, Chinese citizens rate the government as more capable and effective than ever before. Interestingly, more marginalized groups in poorer, inland regions are actually comparatively more likely to report increases in satisfaction. Second, the attitudes of Chinese citizens appear to respond (both positively and negatively) to real changes in their material well-being, which suggests that support could be undermined by the twin challenges of declining economic growth and a deteriorating natural environment. – Fascinating and mostly reassuring reading for the Chinese Communist Party

    Hong Kong’s Richest Li Ka-shing Loses Friends in China, the West – Bloomberg – this is an interesting squeeze for ‘Superman’ Li Ka-shing

    Daring Fireball: AirPods Versus AirPods Pro – this comment about relatively small amounts of ‘feel’ demonstrates how artefacts count

    This smart face mask can translate your conversations into nine languages | Dazed – 208K doesn’t sound a lot of dev costs

    Why Consulum Isn’t Flinching About Promoting Hong Kong – good piece of analysis by Arun on Hong Kong’s selection of Consulum. Most of the budget is going into baseline mapping and research. That might come in haney for communications, or targeting extra-territorial prosecutions under the nascent National Security Law…

    Is good trade with China more important than keeping Huawei out of the 5G network? | YouGov – whilst Huawei targeted the elites; they should have gone to the court of public opinion. It also indicates a likely soft power problem for China

    Is Drop Retail the Next Step in the Digital Transformation of Beauty Brands? | Luxury Society – luxury stealing from streetwear’s playbook

    Vast majority of US research institute disclosure violations related to China | South China Morning Post – High profile cases include the June indictment of Charles Lieber, a former chair at Harvard University’s chemistry and chemical biology department who gave false statements regarding his involvement with the Thousand Talents programme to bring leading researchers to China. In May, Li Xiao-jiang, a former Emory University professor and participant in Thousand Talents, pled guilty to filing a false tax return that did not report foreign income from working overseas at Chinese universities. The Van Andel Research Institute in Michigan agreed last December to pay US$5.5 million to the US Department of Justice over allegations of not disclosing Chinese grants for two of its researchers. – The problem seems to be vain greedy senior academics who think they’re above it all

    Qatar Airways Issues Passenger PPE Kits With Face Shields | Travel Codex – amazing bit of service design by Qatar Airways

    一齊走！We leave together! Explaining some common protest phrases – interesting insights into Hong Kong culture

  • EXP TV + more stuff

    EXP TV – not quite sure how to describe it; EXP TV is just tremendous. In their words “EXP TV daytime programming is called “Video Breaks”—a video collage series featuring wild, rare, unpredictable, and ever-changing archival clips touching on every subject imaginable. Similar to how golden era MTV played music videos all day, daytime EXP TV streams non-stop, deep cut video clips filtered through our own distinct POV. Our Nite Owl programming block features specialty themed video mixes and deep dives on everything under the sun: Bigfoot, underground 80s culture, Italo disco, cults, Halloween hijinks, pre-revolutionary Iranian pop culture, midnight movies, ‘ye ye’ promo films, Soviet sci-fi, reggae rarities, psychedelic animation and local news calamities. On any given night you could watch something like our Incredibly Strange Metal show followed by a conceptual video essay like Pixel Power—our exploration of early CGI art. Aside from our unique tone and deep crate of video materials, one thing that really sets us apart in 2020 is our format. We are *not* on demand, we are *not* interactive—just like old TV! You can tune in anytime and something cool will be on. That’s EXP TV in a nutshell. It’s funny, it’s art, it’s music, it’s infotainment, it’s free and it’s 24/7.” EXP TV reminded me a lot of the pioneering night time TV programming that used to run on British TV.

    Gen Z wants brands to be ‘fun,’ ‘authentic’ and ‘good,’ study says | Marketing Dive – Gen Zers prefer brands that are authentic, with 82% saying they trust a company more if it uses images of real customers in its advertising, while 72% said they’re more likely to buy from a company that contributes to social causes. Product quality, positive ratings and reviews and customer service are the top three characteristics that establish trust in a brand among Gen Zers – really? I am sure if you asked any cohort through time of the same age that would have come out as the result. More on ‘generations‘ here

    Why Corporate America Gave Up on R&D – Marker – great conversation about basic research and its place in the economic life of a business

    The Changing Structure of American Innovation: Some Cautionary Remarks for Economic Growth – basically US innovation is dying out as corporate basic research is no longer happening. It echoes the work that people like Judy Estrin has done in the past

    Produce your own physical chips. For free. In the Open – FOSSi Foundation – interesting that Google is supporting open source silicon prototyping on 130nm process – not cutting edge but moving things forward massively for electronics designers

    China ‘trying to influence elite figures in British politics’, dossier claims | Politics News | Sky News – not terribly surprising. I’d be surprising if Chna wasn’t trying these things. More fool the UK for allowing it to happen passively

    Exclusive: Digital natives see PR as ‘press releases and gin-soaked lunches’ – Sorrell | PR Week – depending on the industry its probably pretty fair, though probably less gin than there was previously

    What’s really behind “tech” versus “journalism” | Revue – really management vs employees – it seems to have got much more toxic than when I worked at Yahoo!

    MullenLowe merges Profero and Open in UK – surprised that that this wasn’t on the cards sooner to be honest with you

    Lessons from the fall of luxury e-tailer Leflair – Vietnam based luxury start-up goes under with $280,000 in unpaid goods

    TikTok to pull out of Hong Kong – Axios – interesting how they got out ahead of Facebook, WhatsApp etc. TikTok might feel its mainland app Douyin can be swapped in. It is an interesting canary in the coal mine for Twitter, Facebook, WhatsApp etc

    Holographic Optics for Thin and Lightweight Virtual Reality – Facebook Research and Alphabet buys a rival company North who do similar technology Our focus on helpful devices: Google acquires North – more related posts here.

    Interesting French short film about the future from 1947. In some ways it is a better predictor of technology usage than Star Trek some two decades later.

    La Télévision, œil de demain (1947) – J.K Raymond Millet

    ‘What Big Tech does to discourse, and the forgotten tech tool that can make tech less big’ with Cory Doctorow – It is a conspiracy is to have an energetic mastery of wrong information. And sometimes that information in fact provides a good, not evidentiary basis, but a good fact pattern to support skepticism of a regulator – Cory Doctorow’s speech is long but well worthwhile.

    Luckin Coffee investors oust founder | Financial Times – this looks very similar to WireGuard. The problem is that audited books can’t be trusted due to local law. And locally written analyst reports have to self-censor allowing this kind of thing to happen. China doesn’t seem to be moving to change its law in the same way that Germany is to try and protect shareholders

    Facebook Suspending Review of Hong Kong Requests for User Data – WSJ – based on the Xi administration’s concerns about national security and cyber sovereignty; one can expect China to extend Great Firewall into Hong Kong with this. Which will then impact multinational companies who have traditionally used Hong Kong as an exit point for China operation VPNs. It will also affect Hong Kong’s position as a regional base. Firms would no longer want to use the data centres and backbone networks that Hong Kong has. More from the FT: Facebook and Twitter block Hong Kong authorities from accessing user data | Financial Times – WhatsApp, Facebook, Twitter and Telegram have all given the Chinese Communist Party the finger. They have a strong incentive to. Chinese drop shipping businesses like Shein or Wish will suffer more than Facebook. And it plays well in parliaments and distracts from the other troubles that they may have. China gets burnt because of its information warfare games on these platforms. Facebook et al provide Chinese marketing teams a gateway into markets around the world that WeChat and TikTok don’t – which dings the Chinese government’s economic goals

    ‘Abolish Silicon Valley’ vs. ‘Always Day One’: Who’s Right About Fixing the Tech Industry? | OneZero – this conversation wouldn’t have even happened 10 years ago, but its needed. If not from ethics perspective, then from its failing in innovation as outlined many years ago by Judy Estrin.

    Encryption-Busting EARN IT Act Advances in Senate | WIRED  – if you care about privacy, this is frankly terrifying

    Above Avalon: Apple Is Pulling Away From the Competition – the obvious candidates missing here are Huawei, Xiaomi and the BBK firms (Oppo, Vivo etc) which have driven the smartphone market into the middle in China and opened a can of whoop ass on the premium sector overall

    Philip K Dick’s Metz speech is mind blowing. It was done at an international science fiction festival in 1977, held in Metz, France.

    Did China Steal Canada’s Edge in 5G From Nortel? – Bloomberg – short answer yes. Though it probably didn’t help that they had a management team that had failed to act when they were warned about infiltration, a infrastructure business reliance on the frame relay network market and partnered with Microsoft on a lot of enterprise technology. Some fantastic stuff in this article – Did a Chinese hack kill Canada’s greatest tech company? – BNN Bloomberg – in the late 1990s, the Canadian Security Intelligence Service, the country’s version of the CIA, became aware of “unusual traffic,” suggesting that hackers in China were stealing data and documents from Ottawa. “We went to Nortel in Ottawa, and we told the executives, ‘They’re sucking your intellectual property out,’ ” says Michel Juneau-Katsuya, who headed the agency’s Asia-Pacific unit at the time. “They didn’t do anything.” By 2004 the hackers had breached Nortel’s uppermost ranks. The person who sent the roughly 800 documents to China appeared to be none other than Frank Dunn, Nortel’s embattled chief executive officer. Four days before Dunn was fired — fallout from an accounting scandal on his watch that forced the company to restate its financial results — someone using his login had relayed the PowerPoints and other sensitive files to an IP address registered to Shanghai Faxian Corp. It appeared to be a front company with no known business dealings with Nortel. The thief wasn’t Dunn, of course. Hackers had stolen his password and those of six others from Nortel’s prized optical unit, in which the company had invested billions of dollars. Using a script called Il.browse, the intruders swept up entire categories from Nortel’s systems: Product Development, Research and Development, Design Documents & Minutes, and more. “They were taking the whole contents of a folder — it was like a vacuum cleaner approach,” says Brian Shields, who was then a senior adviser on systems security

    Why China’s Race For AI Dominance Depends On Math | The National Interest – concerns about STEM education outside China

    “Who Sells Bricks in Hong Kong” Hopes to Introduce New Actors | JayneStars – as dark as things are for Hong Kong’s film industry, ViuTV drama looks to Hong Kong film past for inspiration

  • Autopilot Whopper + more things

    Burger King’s Autopilot Whopper campaign reminds me of a lot of the classic work that Crispin Porter Bogusky have done for Burger King over the years. The Autopilot Whopper is based on the insight that Tesla cars machine learning powered vision system that helps with self driving function mistakes the Burger King logo for a Stop sign.

    https://youtu.be/A0cb7wZVFf4

    Autopilot Whopper entertaining with this schadenfreude around Tesla technology. And it also lands the message that the Burger King drive through is as good a place to stop as any.

    YouTube announced the winners of its 2020 YouTube Works awards. I would strongly recommend that any brand planners bookmark this in their browser and dip in on a regular basis.

    The one that really piqued my interest the most was Hulu’s campaign for live sports that tapped into a growing consumer cynicism around influencers. The sports linkage was using NBA basketball players as the influencers.

    The iconic Zero Halliburton briefcase stuffed with cash, that more money is thrown into as ‘Hulu has live sports’ is mentioned riffs on the old McDonald’s initiative. The McDonald’s scheme that paid rappers for name checks on songs and mixtapes. It also tapped into how consumers view influencers.

    Public Enemy came back when we most need them. Flavor Flav seems to have patched up his beef with Chuck D. Public Enemy have partnered with DJ Premier to capture the zeitgeist. Black Lives Matter, COVID19 and chaotic leadership feature in State Of The Union (STFU). DJ Premier’s product references earlier Public Enemy works scratching in sounds of early Public Enemy vocals in this track. The beat is more laid back than what one would expect from the Bomb Squad production team. But the Public Enemy fire in the belly is still there.

    The step chickens are a meme driven ‘cult’ that have sprung up on TikTok. More accurately they are a directed community. Here’s the founder on how they came about. Their heat has been parleyed in a community for a new app. From a product point-of-view, this means that something like TikTok could lose chunks of its user base IF the step chickens phenomenon was widely and successfully replicated. Given that it was a mix of smarts, happenstance and pure luck it isn’t likely: sorry brands.

    German China-focused think-tank MERICS had a thoughtful presentation put together on the Hong Kong national security law. The presentation focused on the impact for the financial services sector. But there similar lessons to be drawn for professional services (accounting, management consultancy, legal firms). And only for a a slightly lesser effect on the strategy and planning functions of creative agencies, or counsel based PR functions.

    On reflection, I would be concerned about how some of the creative briefs for China-focused campaigns that I have written would have faired against the Hong Kong national security law. Probably not that well.

    What immediately becomes apparent is the implications for quality research into companies and economics won’t meet international standards. Which means more fodder for the likes of Muddy Waters Research LLC. It likely indicates a conscious effort for China to decouple from the international financial system.

    The calculus behind the Hong Kong national security law seems to be that the Chinese government think yet another (internal) market for Chinese stocks will be a better deal than the traditional gateway to and from China Hong Kong has provided. I am not sure what this bet will mean. Shenzhen already has a robust stock market by Chinese standards; would China really need Hong Kong? Without the gateway role, Hong Kong would also find it harder to be the point of capital departure from China for high net worth citizens. Dampening capital flight would definitely hold some attraction to the Xi administration.

  • Problems American style + more

    New York’s Problems Are America’s Problems Now – “Most cities are the same animal at a different scale,” Esteban Moro, a physicist who studies cities and measured New Yorkers’ interactions during the shutdown, told me. Bigger city, smaller city—it doesn’t make much of a difference, Moro says. You’ll meet about 5,000 people a year. – It makes sense if one thinks about major cities as ‘early adopters’ then their problems will spread over time.

    Apple wants your iPhone to replace your passport and driver’s license | Appleinsider – I know WeChat had similar aspirations for Chinese ID cards and drivers licence

    Opinion | How China Scammed Hong Kong – The New York Times – ignore the click bait title, it’s a nice summary of the national security law and points out how the basic law allowed this gap. More on Hong Kong here.

    American firms’ move into China over past 20 years threatens US ability to lead and compete: report | South China Morning Post – US MNEs’ reliance on China as a source of sales and a pivotal hub for global manufacturing poses a risk of solidifying dependencies for selected industries that bear on US national security. Furthermore, such reliance threatens to heighten the cost of supply chain diversification

    Pressured by China, E.U. Softens Report on Covid-19 Disinformation – The New York Times – Beijing’s efforts to curtail mentions of the virus’s origins in China, in part by blaming the United States for spreading the disease internationally. It noted that Beijing had criticized France as slow to respond to the pandemic and had pushed false accusations that French politicians used racist slurs against the head of the World Health Organization

    The Hustle on Coupang – a Korean analogue to Amazon that’s expanding their business

    LinkedIn | Baiba Matisone – 60 behavioral biases to better understand the consumers.

    US Attorney General William Barr says American businesses ‘part of problem’ in tech war with China | South China Morning Post – Barr portrayed parts of the US business community as ingrates because “they’re willing – ultimately, many of them – to sacrifice the long-term viability of their companies for short-term profit, so they can get their stock options and move into the golf resort”. – I found this a much more profound statement on so many levels

    Typography – Goldman Sachs Design – Goldman Sachs put out its own font under a fairly permissive licence

    How This Electronics Juggernaut Got Its Start in a Bombed-Out Department Store • Gear Patrol – nice intro to the history of Sony

    How a Billion Dollar Eyewear Company Started in the Back of a Honda Civic • Gear Patrol – ‘define problems, find solutions, wrap them in art’

    Facebook executive admits to ‘trust deficit’ on call with advertisers | Financial Times – stating the obvious, with Trump-related decisions is just latest in long line of trust related issues for Facebook from brand safety issues with content to analytics

    Dove Soap’s Owner Is Criticized Over Skin-Lightening Cream – WSJ – unfortunately a set of consumers want the product and if Unilever didn’t sell it other people would

    I love you. You love me. | Ad Ageds – well worth while reading as it brings commitment into focus

    Step Chickens and the Rise of TikTok ‘Cults’ – The New York Times – Cults on TikTok aren’t the ideological ones most people are familiar with. Instead, they are open fandoms revolving around a single creator. Much like the “stans” of pop figures and franchises, members of TikTok cults stream songs, buy merch, create news update accounts and fervently defend their leaders in the comment sections of posts. The biggest difference is that TikTok’s cult leaders are not independently famous. They’re upstart creators building a fan base on social media. Ms. Ong represents a relatively new kind of influencer, one who has seized a time of great isolation and idleness to capture the interest of a rapt user base. “I made this video where I was speaking into my phone camera like, ‘Hey guys I think we should start a religion,’” she said in a phone interview on Friday. “Then, I was like, ‘Let’s start a cult.’”

  • K pop stans + more things

    Were TikTokers and K pop stans really behind Trump’s low rally turnout? | Dazed – There’s no way to prove whether the fake bookings caused genuine Trump supporters to lose seats. Many have attributed the low turnout to Trump’s failing campaign, with Bernie Sanders tweeting: “Maybe people are catching on that he is a pathological liar and a fraud.” Others have cited the ongoing coronavirus pandemic as reducing turnout, with mass gatherings still not deemed safe (six campaign staffers later tested positive for COVID-19) – the catchy story about K pop stans might be obscuring a more interesting story: that Trump just doesn’t have stadium filling power anymore. Interesting how K pop stans aren’t labelled as fanatics (yet). More Korea related stories here.

    Rocky start for Land Rover’s new Defender | Financial Times – Despite being configured online 1.6m times by enthusiasts, only 11,000 customer orders have been placed for the car so far, with a further 11,000 test-drive cars ordered by dealers, according to JLR’s annual results – fascinating insight in terms of website conversion numbers for the Land Rover

    Facts vs feelings in the BLM debate – UnHerd – so much to unpack here, not all of which I agree with wholeheartedly. But we need dialogue and debate more than slogans

    Quite apart of the inappropriateness of defining segments by ‘generations’ some of the economic data in these presentations are quite interesting. I would challenge their assumptions about attitudes over time made in the video.

    Hong Kong families prepare to flee the city, fearing a reign of terror from Beijing – The Washington Post – Their departure is so hurried that Ho has yet to assess school options for her two children. Her husband does not know what he will do in Taiwan, which lacks a financial sector comparable with Hong Kong’s. But even working at a restaurant would be acceptable. “Having my freedom of speech is worth more,” he said. – this shows pure fear in the face of evil. Its like refugees in pre-war Europe facing fascism

    How Diversifying Channels Can Help Retailers and Consumer Goods Brands Survive Covid-19 | Ogilvy – could we see a diversification beyond digital focus. Market penetration is key for marketing growth

    Solving online events — Benedict Evans – No-one has ever really managed to take a networking event and put it online. You certainly can’t just make a text chat channel for everyone watching the video stream and claim that’s as the same as a cocktail party. Equally, I can go up to a booth on the Qualcomm or Ericsson stand at MWC, wait my turn and then ask an engineer lots of questions, but how do we do that online? I could book a sales call, but that’s not the same at all.

    Mediatel: Mediatel News: Export to survive – According to Ad Association, UK advertising exports hit £7.9bn in 2018, a 15% increase on the year before. They’re growing faster than other services exports and, surprisingly to me at any rate, the growth rate has accelerated since Brexit – but the Brexit restrictions haven’t kicked in yet

    Group M forecasts 12.5% decline in UK ad market – I was expecting a greater decline

    China is setting itself up to win cold war 2.0 | Financial Times – At the height of the cold war in 1963, the US federal government spent more on research and development than the rest of the world’s public and private sectors combined, Mr Atkinson says. Today, it spends less on R&D as a proportion of gross domestic product than it did in 1955

    Indonesia says China’s ‘nine-dash line’ puts its interests at risk | Financial Times – interesting

    Instagram ‘will overtake Twitter as a news source’ – BBC News – when this happens the rationale for Twitter fades away

    Behind China’s Twitter Campaign, a Murky Supporting Chorus – The New York Times – No doubt some of these accounts are run by patriotic, tech-savvy Chinese people who get around their government’s ban on Twitter and other Western platforms. But an analysis by The New York Times found that many of the accounts behaved with a single-mindedness that could suggest a coordinated campaign of the type that nation states have carried out on Twitter in the past. Of the roughly 4,600 accounts that reposted China’s leading envoys and state-run news outlets during a recent week, many acted suspiciously, The Times found. One in six tweeted with extremely high frequency despite having few followers, as if they were being used as loudspeakers, not as sharing platforms – surprised that the bots don’t mutually follow each other as social proof

    TSMC at the head of history’s tide: two high walls and one sharp knife – China AI – translated from a Chinese article

    Nearly a third of all online ads in China invalid: report | Advertising | Campaign Asia – 31.9% of all online advertising traffic in China was invalid last year according to Miaozhen Systems. Worth RMB 28 billion. 57.5% of KOL fans are fraudulent – I thought that this could be even higher