Not your average internet stars

China’s CEOs turn online influencers to push sales amid slow economy, stiff competition

- Joyce ZK Lim

BEIJING "I really want to become a wang hong (internet celebrity)," said Mr Lu Fang.

And while internet stardom is something younger people typically aspire to, the 48-year-old chief executive of a Chinese luxury electric vehicle maker recently voiced the same aspiration.

"I hope everyone will help me become a wang hong," Mr Lu, the head of state-owned automaker Dongfeng Motor's subsidiary Voyah, quipped to local media in April.

Mr Lu, who says that he works hard on microblog posts every day, is not alone in his quest for internet fame.

China's chief executives are increasingly fashioning themselves as online influencers, in a bid to boost sales as a slowing economy squeezes their companies' bottom lines.

This phenomenon has gained prominence following the Covid-19 pandemic, analysts have said, in a reflection of the stiff competition and depressed demand that China's businesses have to contend with today.

These CEO-influencers hold hours-long live streams, star in video clips and pen short notes on platforms such as Weibo, a microblogging site, and Douyin, China's version of TikTok.

There, they tout their companies' products, discuss industry developments and share light-hearted snippets of their lives, sometimes multiple times a day.

Their goal: the eyeballs, hearts and ultimately - wallets of China's consumers.

China's CEO-influencers include head honchos from industries spanning electronics to tech to education.

One of the most successful is Mr Lei Jun, founder of consumer electronics giant Xiaomi, who has over 23 million followers each on Weibo and Douyin.