China KOL.

$16.8 billion in 2025, and left alone it grows to $24.7 billion by 2030. I forecast the scenario nobody is modeling: a severe crackdown cuts that 2030 market by 50%, wiping out $12.4 billion a year and leaving the industry smaller than it was in 2025. 5 years of growth, gone.

Since 2025, influencers need verified professional credentials to talk about medicine, law, finance, or education. No degree, no broadcast. Half of KOL content is non-experts making claims. That half just became illegal. The MCN agencies that manufacture these stars build on land the party can reclaim with 1 memo.