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Li Lu, a native of China, basked in the international spotlight at the end of last month following a report that Warren Buffett’s Berkshire Hathaway planned to hire him to manage part of its investment portfolio and that Li might one day replace Buffett himself. Li helped to broker Berkshire Hathaway’s hugely profitable investment in Chinese electric carmaker BYD, the report said.
Yet Li, for all of his success, may not be such a rarity among Chinese. After years of rapid economic growth and stock market reform, the mainland has spawned a large fund management industry and a flock of home-grown fund managers that might also make suitable candidates for Buffett if Berkshire Hathaway is looking for China expertise.