wild 1995

Chapter 105 Vulnerability
Ever since he read the summary article about the 327 national debt incident, Tang Renrong has always attached great importance to Di Ye. Half a month ago, Liang Botao of Peregrine asked around for information about Di Ye, which made him pay more attention to it. Therefore, although He didn't think that Liao Guofa could make a big hole, but he still relayed the content of the phone call to Wei Wenyuan.

Wei Wenyuan was far more informed than Tang Renrong. He had already heard rumors that the top management was going to form a joint investigation team, so he focused all his attention on Wanguo Securities. Not worth looking into.

However, only one day later, on the evening of March 3, Wei Wenyuan met Di Ye himself, who came to Pujiang to apply for a visa, in the private room of the Japanese restaurant in the Garden Hotel, and quickly changed his mind, because Di Ye said something that made him Creepy grounds.

In the mid-90s, there were four treasury bond repurchase markets in China, namely Jinmen Securities Exchange Center, Jiangcheng Securities Exchange Center, National Securities Exchange Automatic Quotation System, and Pujiang Stock Exchange. The first three provided 5 times leverage, and only 20% cash bond mortgage is required, while Pujiang Stock Exchange requires 100% cash bond mortgage.

Because treasury bills were too troublesome to move around, several trading centers started securities custody business in 1994, creating dozens of sub-warehouses all over the country, with "depository certificate" or "warehousing notice" as evidence , to circulate in the market instead of treasury bills.

"Pujiang Stock Exchange began to allow the use of custodial certificates as collateral at the end of last year, Mr. Wei, am I right?"

"Yes."

"Then Mr. Wei, have you ever thought about what to do if there are fake custodial orders?"

Wei Wenyuan was ordered in 1990 when he was in danger, and he successfully established the Pujiang Stock Exchange in only 5 and a half months. He has experienced countless storms and waves in these years, and he has already developed the psychological quality of not changing his face when Mount Tai collapses in front of him. Standing up, he frowned and said, "There can be no fake ones. The treasury bond repurchase business must be done by a qualified institution."

"Qualifications can be paid for rent. Liao Guofa adopted similar methods when it issued 314 national bonds last year and 327 national bonds this year. I heard that they have business dealings with many small local securities companies. If this is the case, they are fake It’s not difficult at all to get the custodian.”

Wei Wenyuan frowned even tighter.

Di Ye raised the porcelain cup filled with sake, and with a smile on his face that he didn't mind watching the excitement, he said, "Mr. Wei, Mr. Tang, let's make a bet, let's bet on a big meal. The debt created by the fake custodian is no less than 50 billion yuan, what do you think?"

Tang Renrong had nothing to do with himself, hung it up high, raised his glass as a gesture, and said with a smile: "I bet you, even if Liao Guofa is bold, it is impossible to create a debt of 50 billion. I think at most one Two hundred million."

Wei Wenyuan didn't have the leisure to gamble at all, he picked up the porcelain cup and drank it down, and said: "This is not a problem of debts, but a problem of credit, I will check tomorrow morning!"

Tang Renrong felt the same way, took a sip of sake, and said, "If there is a fake custody certificate, even if it is only a few million, the negative impact will be no less than the 327 national debt incident..."

At this moment, the big brother Di Ye was sitting next to him rang loudly. After he picked it up to answer the call, he found that it was Zhu Zichun calling, saying that he wanted to go to Pengcheng to join the research and development team. He couldn't help being a little surprised, so he said something to Wei Wenyuan and Tang Renrong. Sorry, I got up and walked out of the private room, found a quiet place outside the restaurant, and asked, "Is your internship at Beijing Game Company over so soon?"

"I resigned today, and I have no future there. In the same month, your R&D team produced three softwares, but this company didn't even think about the most basic game settings. Besides meetings, there are meetings every day... …Even the project manager ran away a few days ago, and it was just me and two other interns writing code…”

Zhu Zichun was originally a mild-mannered person. After a month of internship in the capital, he became cynical. He talked about the strange things he encountered during the internship for a few minutes, and finally said: "I regret not talking to you now. Going to Pengcheng, Su Zhaonian used to rely on me to provide a cheat sheet to pass the C language test, but now his level is actually higher than mine, it makes me uncomfortable to think about it!"

"Su Zhaonian just has one month more experience than you, and he can catch up in a few days. Where are you now?"

"I'm still in the capital. If you still accept people, I'll take the train to Pengcheng tomorrow."

Because Di Ye often ran around, he appointed Cheng Zhongwei as the deputy leader of the research and development team, responsible for arranging the daily work. Cheng Zhongwei did a good job, but this guy is too showy, he is not popular, and he is a graduate student, so he will definitely not do it in the future I will stay in the R&D team, but now Zhu Zichun took the initiative to vote, which solved a problem.

"Go and try to buy a plane ticket tomorrow. If you can buy it, you can take the plane directly. The plane ticket will be reimbursed later. I will take 10 new people to Pengcheng the day after tomorrow. You just happen to adapt to the new environment with them."

"Row."

After Di Ye made the phone call, he went back to the private room and sat in the private room for only a few minutes before Wei Wenyuan got up and left with a heavy heart, saying that he would go back to the stock exchange to convene a meeting with his colleagues to study how to investigate the accounting issues of Liao Guofa.

It was still early at this time, and it was not yet 7 o'clock in the evening. After seeing off Wei Wenyuan, Di Ye and Tang Renrong continued to eat Japanese cuisine while chatting about gossip.

"A financial radio station in Pujiang started broadcasting the day before yesterday, and Guan Jinsheng was invited to attend the opening ceremony. However, the organizer didn't arrange a seat for him. He asked Guan Jinsheng to stand for 5 minutes. In the end, a representative of a brokerage firm in Hong Kong gave up his seat. Giving it to him barely relieved the embarrassment."

"Guan Jinsheng is still the general manager of Wanguo Securities, right?"

"It is still in name, but in fact it has been emptied, and it is in a state of waiting to be released."

"Did the backbone of Wanguo Securities resign or change jobs?"

"Except for ordinary employees at the grassroots level, anyone who can speak up in the 327 incident should not even try to run away. They are all waiting to be investigated."

After Di Ye inquired about the basic situation of Wanguo Securities, he turned to another topic, which was the Sino-US Intellectual Property Agreement signed on March 3. view of the agreement.

In June 1994, in order to build momentum for the mid-term elections, the Clinton administration began to hype up the topic of China, and launched the 6 special clause on the grounds of protecting intellectual property rights. In December, it formulated a retaliation list of up to 301 billion US dollars. The two sides almost fell into a trade war, and after more than two months of negotiations, they finally reached an agreement on March 12, 28 to resolve the trade dispute.

Since the United States is China's largest trading partner, during the negotiation period, the stock markets in Pujiang and Hong Kong were in a state of shock three times a day, and any disturbance would cause severe shocks. Therefore, Tang Renrong was very concerned about this matter and believed that the agreement would The signing is a major benefit to the Chinese economy, and it will be reflected in the stock market in the future. In other words, he believes that in a few months, the stock market will enter a big bull market.

This judgment cannot be said to be wrong, because there will indeed be a big bull market in a few months, but it may not be related to the Sino-US intellectual property agreement.

Compared with finance, Di Ye pays more attention to the agreement itself, because there are two very important contents in it, one is to require public institutions to use genuine software, and the other is to allow the establishment of computer software joint ventures to produce and sell their products.

"Mr. Tang, don't you think the clause in this agreement that requires public institutions to use genuine software is a great benefit to the domestic software industry?"

"However, the agreement also liberalizes the threshold for joint ventures in the software industry. The domestic software industry is not even as good as the auto industry back then. The auto industry has one and two auto companies, but the software industry has nothing. How can it compete with international companies such as Microsoft and IBM?" Big competition?"

"That's not necessarily the case. Will Microsoft and IBM develop an over-the-counter trading system for you Haitong Securities? The software you tinkered with using dBASE is almost like a toy in my opinion. It is very poor in terms of security and usability."

Tang Renrong was dissatisfied with his own trading system for a long time. Hearing the words thoughtfully, he asked, "Are you planning to start a company to do this business?"

"I'm going to develop a database software. If the development is successful, I plan to customize a stock trading system based on it."

"I heard that you are a computer genius. If you can really make a safe and easy-to-use trading system, we Haitong Securities will be the first to place an order."

"That's a deal, let's have a drink."

The two chatted very speculatively, and chatted nonsense for more than an hour in the private room before they broke up. When they parted, Di Ye pretended to remind unintentionally: "Mr. Tang, you'd better check when you go back to see if Haitong Securities has received any money." I went to Liao to issue a fake custodial certificate for mortgage, especially during the period of 327 treasury bond futures.”

"No need to check, we have never received the custodial certificate issued by Liao Guo."

"You have confiscated it, but it doesn't mean that your subordinates have confiscated it. Your financial circle is full of loopholes, so you'd better be cautious."

"That's right, I'll go back and check."

　Too busy these days, I can only go home to code after 10 o'clock in the evening, and what I wrote last night was blocked...

　　
　
(End of this chapter)