My Fintech Empire

At the same time, Fang Hong said methodically: "In terms of product operation, Douyin must keep up with hot spots and spend money accurately to make the product quickly exposed. After clarifying the direction of the product, start spending heavily on marketing. Don't be afraid of not having money. Stars will eventually There is no shortage of money, so we create various entertainment hot spots.”

"Its marketing strategies include celebrity traffic exposure and keeping up with hot trends; brand cooperation, grabbing popular entertainment programs and strengthening offline interactions; technical aspects to keep up with hot topics, and innovative technology brings product interest. Compared with content producers, Douyin is more More like a technology streaming company, content matching relies on intelligent algorithm recommendations to push the right content to the right audience. The platform is equivalent to a precise traffic distribution machine. This distribution mechanism can increase the user's residence time on the APP. Growing."

"There are also new methods such as special effects and filters. The human body key point detection technology of the artificial intelligence laboratory over there at Matrix Quantum will provide you with support. Users record a video through the APP, and this technology can detect various parts of the human body contained in the image. The location of key points enables precise matching of users from actions to target actions. With the support of these new technologies, it is easier to achieve both user management and user stickiness."

Yu Chenliang was also listening, holding a black leather notepad and writing notes with his head down and his eyes down.

After a while, Fang Hong changed the topic: "However, the application of some new technologies is also temporary, such as this beauty special effect filter system. Strictly speaking, is this considered fraud? Beauty photos have become photo fraud. , a liar’s trick. But why should we use it now? Because it can really enhance the public’s camera confidence in the virtual world. The point is that you can use it without an opponent, and the users will be taken away by the opponent.”

"But this thing cannot exist forever, and we must have a clear understanding of this. Because things must be reversed, the negative problems in the future will continue to be magnified, so at the same time, we must be prepared to abandon filters in the future, and ultimately we must return to nature. After the hustle and bustle, you will eventually return to the essence.”

Fang Hong is not the kind of person who sticks to rules. He is well aware of the advantages and disadvantages of technologies such as beauty special effects filters.

The advantage is that it can now bring strong competitiveness to Douyin, because the beauty filter really attracts young people and allows many people to have the experience of being handsome boys and girls in the virtual world. It also allows people to Become more confident.

The disadvantage is that if you rely too much on beauty filters in the long run, you will indeed feel confident in the virtual world, but you will feel even more inferior in the real world, and you will not even want to face your real self, thus escaping from reality.

Showing off to others by "photographing and deceiving" on social media, over time, you become so addicted that you lose focus on your true self and life. The effect created by beauty filters is a kind of beauty that ordinary people cannot achieve. The more young people pursue this kind of beauty excessively, the more vulnerable they are to harm, such as psychological problems that induce "body image disorder".

Therefore, beauty filters cannot exist forever, and Fang Hong will not let them exist forever. The reason why they are used now is because there are no relevant clear laws to regulate them, so you can use them without competitors.

But I won’t use this thing all the time. After Douyin breaks through in the mainland market and the industry structure takes shape, if there are no relevant laws and regulations, Fang Hong will also ask the stars to actively promote the implementation of relevant laws and regulations to remove beauty filters. At that time, our own products can take the lead in fully rolling out these functions.

I can’t use it anymore, and neither can you.

…

The next day, Thursday, December 17th.

A piece of news this morning attracted huge attention in the capital market, and also brought Fang Hong's attention back to the capital market.

Just last night at around 3 a.m. on December 16th, the Federal Reserve in North America announced that it would raise the federal funds rate by 25 basis points to a level of 0.25% to 0.5%, blowing away expectations of interest rate hikes for three full quarters. This is the first time in the past ten years that the Federal Reserve has raised interest rates. The last time it raised interest rates was in June 2006.

In the afternoon, stay in the villa quietly.

Tian Jiayi, who came back from the company, is reporting to Fang Hong at the moment: "With the expectation of a U.S. dollar interest rate hike coming to fruition, the foreign exchange market has experienced another round of sharp decline. It has reached 6.5939. It is already one step away from the 6.5939 that was hit during the exchange rate reform in August. Far away, and multiple data indicators show that short funds have also ambushed a large number of short orders in the Hong Kong RMB market."

In fact, in the foreign exchange market, as early as last month, Yangzhou Bank had begun to compete with international short forces, restricting and blocking the channels for transferring funds from the onshore market to the offshore market at multiple levels.

The international short-selling forces also took advantage of public opinion to spread the "financial collapse theory" with the purpose of creating panic and triggering funds to abandon RMB assets and flee, and it did have an effect.

Tian Jiayi said: "There is another thing worth noting. Hart, one of the international short sellers, began to short the RMB again with a high profile and placed heavy bets in the futures and options markets. Focus Funds bought a large number of RMB options. As long as the RMB depreciates, huge profits may be made. , since August, the depreciation of the RMB has caused the income of his focus fund to surge by 75%, directly turning losses into profits this year."

Fang Hong smiled and seemed unconcerned.

Tian Jiayi continued: "In addition, in the middle of last month, the Yangyang Bank window instructed some domestic banks to suspend the provision of cross-border financing to RMB accounts of offshore banks. Soon after, the domestic bond repurchase transactions of offshore RMB clearing banks were also suspended. The window guidance at the beginning of the month also suspended the RQDII-related business applied by the institution, and also suspended the cross-border business of individual foreign investors and the domestic foreign exchange business of participating banks. The suspended foreign exchange business includes spot closing, etc."

Hearing this, Fang Hong nodded: "Well, there is nothing wrong with this move. From the perspective of the entire arbitrage process, the vitality of international short capital lies in the supply of RMB. As long as there is no currency supply, then the entire arbitrage operation will It cannot be implemented effectively.”

International short capital wants to short the RMB. No matter what means they adopt, they need the RMB as ammunition. This is why they still chose to attack the RMB through the offshore RMB market in Port H this time, in order to drive the depreciation of the onshore RMB.

They themselves would never dare to go to the onshore market to make trouble in person, because the country's trillions of foreign exchange reserves are sitting there, which they cannot shake at all. They can only use their own strength to create panic and make a large number of people in the mainland If a run occurs, as long as it triggers a wave of panic runs, even trillions of foreign exchange reserves will not be able to withstand it.

The response strategy adopted by the management is to reduce the scale of RMB outflows in order to reduce the ammunition that international short capital can control. This will play a great role in assisting Fang Hong in the decisive battle with international short capital in the offshore exchange rate market. .

Fang Hong immediately asked, "Have the materials from Luo Qing'an arrived?"

The general public in the outside world is still completely unaware of this foreign exchange war, but the top management has been in frequent contact and communication with Fang Hong, and some important information and data will also be shared with the stars, creating a critical and timely information channel.

Tian Jiayi immediately took out a piece of material and handed it to Fang Hong: "It has arrived. Combining the data sent by Luo Qing'an to check the estimate, the total offshore RMB deposits are about 2 trillion yuan, of which the offshore RMB deposits in Port H are close to 1.1 trillion, accounting for more than half of all offshore RMB deposit balances, followed by Xinjiapo, accounting for more than 420 billion."

Having said this, Tian Jiayi added: "H Port accounts for more than 70% of global RMB payments, and RMB payments with the mainland account for more than half of cross-border payments."

…