Ran Wang

Ran Wang (王冉) is the founding partner of CEC Capital (易凯资本), a China-based investment bank he established 25 years ago during the early internet boom, with the original tagline "ibanking the new economy" . He has since become one of the more outspoken commentators on China's venture capital and primary markets. At a 2024 WAVES conference, he made headlines with a blunt assessment that "the primary market basically no longer exists" and questioned whether any young people genuinely still wanted to enter the industry . More recently, he has written extensively on AI's transformative impact and what he terms the "new economy of the future" emerging from AI and blockchain . In his personal year-in-review for 2025, he described his own entrepreneurial experience as a process of "rolling and crawling" (连滚带爬) — discovering that industry know-how ran far deeper than initial assumptions suggested .