Cheng Hao, the man involved in the rescue of China’s 2015 market crash, runs what is the world’s third largest wealth fund in Hong Kong.
China's SAFE Investment Company, custodian of a third of China's foreign exchange reserves and run by Cheng Hao, manages a significant portion of those reserves from an office in Hong Kong and plans to increase allocation to the region. The company, established in 1997, is one of four units created to diversify reserves and maximize returns. An estimated 16% of China's foreign exchange reserves are already held in Hong Kong.