Opening： “Only the national is the international.” Yang Liang believed the combination of Chinese traditional culture with modern internet technology and financial service would bring changes to the existing financial landscape. As a former golden collar in investment bank, Yang Liang hopes to speak for the millions of Chinese makers through cultural finance.
Yang Liang, the founder of letou360
Yang Liang graduated from Tsinghua University and LBS (London Business School). As a genius with internationalized background, he devoted himself to the combination of Chinese traditional culture with his major—finance. In 2014, pioneering enterprises were on the rise. With 8-year experiences in investment bank, Yang Liang decided to turn down his salary offer of 2 million Yuan from investment bank but to letou360.com in Beijing. Depending on his strong financial background, Yang Liang helped letou360 enter supply chain finance and automobile industrial finance successively. At the end of 2016, this company entered a new era. Specially, it obtained Round B investment from a state-owned organization. Meanwhile, it entered the cultural financial field. Recently, he received an exclusive interview from Li Yan, a famous CCTV anchorwoman.
Regarding cultural finance, Yang Liang said “as a former professional of investment bank, I have deep understanding of financial vertical market, which creates my advantage over my peer entrepreneurs”. By 2016, Chinese auto industry has developed pretty mature. Fierce competition has already driven down the industry average profit. However, cultural industry is still at emerging stage. It coexists in the real economy based on tangible assets as well as based on its intangible assets such as brand name and copyrights. Therefore, Cultural Finance becomes a financial innovation which intelligently links hard and soft assets. The innovators of Chinese cultural finance become the pioneers in the industry for “value innovation”.
Comparing with common practice used by Chinese banks taking automobile and artifacts as collateral, Yang Liang clarified that cultural finance represents a new trend better suiting the market. “There are similarities between auto finance and cultural finance. They are similar in the sense that they take asset as collateral. However, the collateral asset is now art works or copyright instead of automobile. The fundamental difference is the industry chain based on shareholders would have greater impact or control over cultural industry clients the automobile is purely a merchandize. The pure market activity has very little impact on customers and dealers. Cultural finance mode is therefore safer.”
Left: Li Yan, a CCTV reporter
Right: Yang Liang, the founder of letou360
In China, both the giants like Alibaba and the emerging companies like letou360 have focused on cultural industry. They focused on music and movie section before but now shifted on cultural finance. This provides us insight on new trend on Chinese economic development.
Speaking of international background, Yang Liang preferred to integrate something of national characteristics with finance he majored in. As he said, the combination of Chinese traditional culture with modern internet technology and financial service would bring changes to the existing financial structure. As a former gold-collar in investment bank, Yang Liang hopes to speak for the millions of Chinese makers through cultural finance. In addition, he expects it can find out a new development direction for the Chinese economy in the new age.
Company Name: Zhongrongletou financial information services (Beijing) Co., Ltd.
Contact Person: Angela Liu