Wave Maker | ICBC Credit Suisse Marina: Steering with the Spirit of May Fourth, Empowering the Real Economy through Scientific Investment Research

A century of May Fourth Spirit passed down through generations, youth striving forward to live up to the prime of life.
The May Fourth Spirit embodies the core values of patriotism, progress, democracy, and science, and in the new era of asset management industry, it has become the spiritual compass for young public fund practitioners to forge ahead and uphold their mission.

As an important part of the capital market, public funds bear the vital missions of managing clients’ assets, wealth management, and serving the real economy.
Generation after generation of young fund professionals, guided by the May Fourth Spirit, integrate their ideals and beliefs into investment research practices, rapidly growing into the backbone of the investment community, and practicing their original intention of serving the people through professionalism and responsibility.

In the view of Marina Ma, a young fund manager at ICBC Credit Suisse Fund, the core connotation of the May Fourth Spirit is science and progress, which naturally resonates with the public fund industry.

“Public funds shoulder the responsibility of preserving and increasing the value of the public’s wealth. Their core mission focuses on value discovery and asset pricing, which is inherently a rigorous scientific endeavor,” she said.
“The industry’s development aligns with the May Fourth Spirit by abandoning blind conformity and empiricism amid market noise, using scientific and rational investment research systems to distinguish truth from falsehood, and guiding social capital precisely into industries that truly represent human progress and promote leapfrogging development of the real economy.”

As a new generation force in the public fund industry, Marina Ma regards seeking truth and deep thinking as the core qualities of her professional conduct.
With technological industry iteration accelerating, she believes that only by staying true to the pursuit of truth, delving into the underlying logic of industries, exploring technological development paths, and building rigorous valuation models and fundamental analysis systems can one anchor the true value of enterprises amid vast information.

“Every technological generational breakthrough relies on long-term patient capital empowerment. Public fund practitioners manage not only the funds of countless investors but also the ‘fuel’ supporting technological innovation. This is the most direct embodiment of financial services for the real economy,” Marina Ma said with emotion.

Currently, Marina Ma is actively integrating cutting-edge large language models into the investment research system, designing a multi-agent investment research architecture through AI technology, structuring data extraction, industry research, and investment decision logic.
Using the most advanced productivity tools to uncover opportunities is a contemporary practice of the May Fourth Spirit’s “pursuit of science and progress.”

【Message】“Use the blade of science to cut through the fog of capital; with the heart of industry, build the Great Wall of technology.”
She believes that on one hand, embracing technological changes like AI to empower investment research and improve efficiency; on the other hand, sinking cognition by conducting in-depth field research along the industry chain and abandoning short-term hype and impatience.
Guided by the May Fourth Spirit, truly becoming a solid backbone in wealth management, and not letting down this great era.

Below is the interview transcript

Q1: What do you see as the core connotation of the May Fourth Spirit? Considering the characteristics of the public fund industry, what are the points of resonance between the May Fourth Spirit and industry development?

To me, the core of the May Fourth Spirit is always “science” and “progress.”
The core mission of the public fund industry is value discovery and asset pricing, which is itself a highly rigorous “scientific” pursuit.
As a public fund manager, we bear the great responsibility of preserving and increasing the wealth of the public.
The biggest point of resonance with the May Fourth Spirit is: abandoning blind conformity and empiricism amid market noise, using scientific and rational investment research systems to distinguish truth from falsehood, and guiding social capital precisely into industries that truly represent human progress and promote leapfrogging development of the real economy.

Q2: As a young professional in the public fund industry, what qualities do you think are most important to inherit the May Fourth Spirit? How are these qualities reflected in your daily work?

The most needed qualities are “seeking truth” and “deep thinking.”
With rapid technological industry iteration, superficial hype is endless.
In daily work, this “seeking truth” is reflected in delving deeply into the underlying technical paths. Only by constructing rigorous valuation models and fundamental analysis frameworks can we anchor the true value of enterprises amid vast information.

Q3: During your career growth, has there been any event that made you deeply feel the power of the “May Fourth Spirit,” or strengthened your determination to deepen your work in the public fund industry?

The rapid development of the AI industry in recent years has greatly shocked me, not only because of the leaps in large model capabilities and underlying hardware architecture but also because I deeply realize: every generational leap in underlying technology requires enormous and patient capital support.
My sense of mission as a public fund manager has become more tangible.
We manage not just funds but also the “fuel” supporting technological innovation.

Q4: The core content of the May Fourth Spirit includes “patriotism, progress, democracy, and science.” How do you incorporate the spirit of “pursuing truth and progress” into your investment research work? For example, in industry research, target screening, and strategy optimization, how is this spirit reflected?

In investment research, “pursuing science and progress” means embracing the most advanced productivity tools.
To counteract personal energy limits and information fragmentation, I am actively integrating cutting-edge large language models into the investment research system, designing a multi-agent architecture through AI technology, structuring data extraction, industry research, and investment decision logic.
Using the most advanced tools to uncover truth is my practice of the May Fourth Spirit.

Q5: Facing the accelerating iteration of the public fund industry, how do you respond with the “courage to innovate” of the May Fourth Spirit? Are there specific practical cases? What are your prospects for the industry you are deeply involved in?

In response to the industry’s rapid iteration, my strategy is “cross-industry innovation,” breaking down barriers between traditional finance and computer science.
The multi-agent automated investment research system mentioned above is a significant practice.

Q6: As an important force in the capital market, public funds undertake the responsibility of serving the real economy and guiding social capital into high-quality fields. How do you (your company) practice the original intention of “patriotism” in your investment research process to support the development of the real economy?

In the current macro context, “patriotism” in technology investment has very specific implications:
It means directing capital precisely toward those solving “neck-breaking” problems for the country and maintaining industrial security.
This requires us not only to understand the technology but also to grasp the security logic under great power competition.
For example, when investing in AI infrastructure, security and controllability of the underlying architecture must be a core consideration.
We conduct in-depth research to discover and deploy excellent companies working silently in domestic chip manufacturing, semiconductor equipment, core components, and autonomous computing ecosystems, supporting their growth with real capital.
This is the most direct embodiment of financial services for the real economy.

Q7: How does your team pass on the May Fourth Spirit through collaboration to achieve personal growth and team development?

Our team highly values a collaborative culture.
Investment research is no longer a solo effort of fund managers but built on transparent, shared infrastructure.
This environment of breaking down information barriers and encouraging equal discussion greatly enhances the team’s research efficiency.

Q8: What would you like to say to young colleagues in the public fund industry about “inheritance of the May Fourth Spirit and practicing industry missions”?
What areas should future young professionals focus on to better inherit the May Fourth Spirit and contribute to industry development, real economy, and public wealth appreciation?

I want to tell my colleagues: “Use the blade of science to cut through the fog of capital; with the heart of industry, build the Great Wall of technology.”
Future public fund youth should focus on “tool evolution,” actively embracing AI, using technology to empower research, and improving asset pricing accuracy.
They should also focus on “cognitive sinking,” avoiding superficial hype, and truly delving into the deepest parts of the industry chain.
Only by doing so can we truly grow into a solid backbone of wealth management and live up to this great era.

Text by Xu Nannan, edited by Xu Nan.