Winner Takes It All, Resurrection 2009

Li Zehua did not leave Yanjing immediately. Early the next morning, he brought Xiao Chengdong, the president of Micropayment, Lin Wenhui, the group's chief financial officer, and a group of people who had arrived from Shanghai in advance.

Participated in the special working meeting on Internet non-financial business jointly convened by nine ministries including the China Banking Regulatory Commission, the People's Bank of China, the Ministry of Finance, the Ministry of Industry and Information Technology, and Liushenmen.

A lot of people came, including the first batch of 36 companies that obtained Internet third-party payment licenses, well-known large banks, and small and medium-sized regional banks, but most of them came to receive notification letters.

The specific content and industry details were already known to all parties during the long communication process. Today, the top management simply called everyone together and notified everyone one by one.

An interesting thing happened during the communication between Qingyun and the China Banking Regulatory Commission. The China Banking Regulatory Commission and the Internet Finance Payment Security Management Office were not very interested in standardizing the management of the payment system.

Not only do licensed institutions show an ambiguous attitude towards the use of deposited funds, they are also not very concerned about whether to bring online payments under standardized management like ordinary financial institutions.

倒是李泽华重点提及的单次（每天）支付限额被压缩到5万/20万，而非最初申请的20/50万，提现手续费也被牢牢固定在0.6%。

Financial institutions have a big appetite. During the negotiation process, several banks proposed that recharges should also be included in the control list (to facilitate the collection of a 0.6% tax on recharge services in the next step).

As a result, all third-party payment participants jointly rejected it, and the bank's plan to control deposit outflow failed, but in the details of the Internet non-financial institutions' absorption and use of social funds.

It further stipulates that companies such as Qingyun, Ali, and Tengda absorb deposits from ordinary consumers and act as agents to sell products issued by third-party financial institutions such as banks, insurance companies, and securities companies.

Its maximum rate of return (including discount) shall not be higher than twice the bank deposit interest rate during the same period (regular financial management also refers to the bank deposit period), and the annual loan interest rate shall not be higher than 14.4%.

This can be regarded as setting a bottom line for the Internet's non-financial institution business to prevent the situation from getting out of control.

The meeting was mainly focused on the display of interim results and on-site briefings. The progress was very fast. In addition to displaying the performance of the Micropayment Southeast Asia branch, it attracted the admiration of the participants.

Except for a period of heated discussion at the scene, everyone followed the rules for the rest of the time. They applauded when necessary and expressed their opinions when necessary. The scene was united and harmonious, and no accidents occurred.

When the meeting ended, it was time for lunch, and everyone followed the staff's instructions and left in an orderly manner.

Li Zehua stood up and looked around. No matter if they were acquaintances or strangers, they all greeted him with smiles, and people kept extending their hands to say hello to him.

He is now recognized as the God of Wealth in the industry, the kind who can turn stones into gold. He has the largest number of active micro-payment users in the country, and has raised 40 to 50 billion yuan in deposited funds from tens of millions of users in Southeast Asia.

Only God knows how much can be done domestically, especially since it has been decided at this meeting to initially liberalize the purchase rights of Internet financial management funds and allow financial institutions and third-party payment channels to cooperate.

Under the existing legal framework, we carry out normal business activities such as sales and fundraising in an orderly manner and own Minsheng Financial Holdings, MyBank Internet Financial Bank, and Star City Bank.

As well as Qingyun Great Eastern Insurance, Qingyun Group, which holds shares in securities firms such as CICC International, is undoubtedly the biggest winner.

Others are either financial institutions, or insurance and securities firms that hold third-party payment licenses, but they do not have a customer base. The mainstream payment methods on the market now are micropayments and payment insurance.

The two companies together account for 55% of the total registered users, more than 80% of active users and funds used, and the rest is basically generated by Tenpay through QQ Direct.

In the current Internet third-party payment business, Tenpay, which relies on QQ traffic, is far behind and can only survive by relying on the internal payment market supported by the QQ system.

If it wants to extend outward, it can only gain a foothold in the game business recharge sector. Tenda wants to learn from the original time and space and use offline physical stores and food delivery, online car-hailing, and sharing economy to expand its living space.

At this time, it is extremely difficult to break through the all-round blockade of Qingyun. There is a high probability that Tenpay will not become another big money-making tool for Tenda.

Therefore, before this meeting, Tenda broke its usual practice and did not eat alone behind closed doors as it had done before. Instead, it publicly called on all parties to negotiate on reaching a threshold-free payment system.

To put it bluntly, Tenpay lacks the necessary payment application scenarios, and wants to promote legislation to break the monopoly so that it can smoothly participate in payment businesses in e-commerce and other fields.

This proposal is supported by small and medium-sized third-party payment companies, but not many large banks are interested because the two largest players, Weifuzhi and Alipay, have already coordinated their interests with them in advance.

Maybe he knew the result in advance, so Tony Ma did not come and only sent the deputy chief of Tenpay to the meeting. This made Li Zehua feel a little regretful, as he actually wanted to talk to Tony Ma in person.

After all, when Alipay and Weifuzhi develop in the future, they will definitely not be able to withstand the pressure from the vast majority of competitors in the face of huge profits calculated in trillions of dollars.

First of all, the banking payment system will not tolerate Internet finance excessively encroaching on its own exclusive interests, especially the local regional banks that have gradually emerged after 10 years.

They already lack the ability to absorb social savings and also have to face competition from Internet finance, which will inevitably force local governments to introduce business restriction policies on Qingyun, Ali and other companies.

In this game, the attitude of Tenpay, which holds the third largest share of the payment market, becomes relatively important. Its investment in the banking system would be a disaster for Ali and Qingyun.

Li Zehua was thinking about how to strike a balance in the distribution of benefits. The profits brought by this market share would not starve Tenda to death, but would also keep it hanging and prevent it from changing its position.

At the same time, we must not allow Tengda to take advantage of the opportunity to break through and threaten Qingyun and Ali's position in the third-party payment industry.

On this point, Qingyun and Ali have reached a rare tacit understanding. During the previous consultation meetings organized by the government, the two managements met privately and fully exchanged opinions, and the feedback was very ideal~
Unfortunately, outsiders know nothing about this, and everyone is only willing to believe the information they can see.

For example, now, when the two large groups met head-on at the gate of the venue, everyone couldn't help but stop and watch, and the people behind even stood on tiptoe to see the expressions on the faces of the two parties.

Everyone likes to eat melons.

Especially the face-to-face clash between two top business tycoons. Even if they don't fight, just a few harsh words exchanged will be enough for the spectators to talk about for years.

"Wow, Mars is about to hit the Earth."

"I've heard for a long time that President Ma and Chairman Li don't get along, and the two companies are at loggerheads over many businesses. Now that they've really met, won't they fight their brains out?"

"It's hard to say. With Mr. Ma's physique, I'm afraid he would be no match for Mr. Li if they really started fighting."

If you want to blame someone, you should blame the seating arrangement in the venue. One seat was on the leftmost side of the second row, and the other was on the rightmost side of the second row. Although there were many doors in the conference hall, the distance to the main gate through the corridor was the same.

Just as Li Zehua and Jack Ma were leading a group of people and were about to collide head-on, they stopped and looked at each other.

Speaking of which, it was the first time for both Jack Ma and Li Zehua to meet each other in person.

Time seems to stand still at this moment.

Jack Ma looked at Li Zehua, the smile on his face suddenly stopped, and he showed a cautious attitude.

Li Zehua looked at Jack Ma, also keeping silent, just staring at him quietly.

"That's bad. Forget that these two companies are in fierce competition. Rumor has it that they are even to the point of wishing the other party dead immediately. Go and ask the leader to come and mediate."

The receptionist in charge of guiding us suddenly changed his expression. He felt the tense atmosphere in the air and was extremely panicked. "Don't let any conflict arise!"

Unfortunately, the leaders who were discussing how to implement policies and control the market not far away didn't pay any attention to the noise. One of the old men even laughed and said:
"What's the big fuss? It's nothing to worry about two old friends meeting each other."

Once you see through the conflicts of interest and human choices, no one will care about some superficial disputes, as they are just child's play.

Just like today's meeting, why didn't Tony Ma come?
Could it be that he really couldn't spare the time?
Haha, it’s nothing, I just don’t want to see the destined and unchangeable result happen.

The other company heads, bank presidents and vice presidents present all stayed where they were tacitly, and no one stepped forward to persuade them.

Those who are not aware of the situation would like Qingyun Ali to tear their faces apart and fight openly, and it would be best if there is some unsolvable chaos, so that the higher-ups are forced to intervene and then both sides will be punished. Then they can take the opportunity to seize the market share of the first and second largest products in Internet finance.

Unfortunately, this thought is just a thought in my mind. Who among those who can stand here is not a smart person?

Even if one hates the other to death, one will not make it too ugly on the scene. The best one can do is just pretend not to see it and never have anything to do with the other person again.

What a pity, they were all disappointed!

There was only a brief silence, and the leaders did not even have time to break away from their busy schedules to help.

Seeing Li Zehua, Jack Ma almost smiled and stretched out his hand to greet the other party from a distance.

That’s not all, the two of them quickly approached each other, as if they were old friends who hadn’t seen each other for years and couldn’t wait to shake hands and express their feelings.

This abnormal scene almost made everyone drop their jaws, thinking that rumors could kill people~
Those who knew the inside story sneered in their hearts, "Bah, just pretending, working in cahoots with each other."

Unfortunately, no matter how much they gnashed their teeth, they couldn't stop the two big hands from being tightly clasped together.

"Mr. Ma, this seems to be the first time we meet. I have heard of your name for a long time..."

"Mr. Li is indeed young and promising..."

After a round of business compliments, both parties looked at the confused people behind them and did not explain. Instead, they walked out hand in hand.

They were whispering to each other as they walked, as if they were discussing something in secret, and when they talked about something interesting, they both smiled at the same time.

If anyone gets close, their worldview will definitely be shattered.

Li Zehua is young and shameless after all. He seizes the topic every minute and speaks out, "I thought Mr. Ma would give me two punches when we meet. You're making it very difficult for me!"

Jack Ma snorted twice, "If I can beat you, you can try."

The feud between the two families is destined to be endless and impossible to mediate, but on the topic of today's meeting, the two families are ironclad allies!

Interests are the core criterion that always remains unchanged throughout the development of human society!

In terms of payment application scenarios, although Alipay does not have as many applications as Micropayment, a 60% payment share in the e-commerce field alone is enough for Alipay to be fully utilized.

In terms of maintaining the core position of free competition in Internet finance, the core interests of Alipay and Micropay are completely consistent.
Seeing the two brothers in front of him, who were so close that they wanted to hug each other's shoulders, Lin Wenhui couldn't help laughing and explained to Xiao Chengdong:

"Everyone in the world is driven by profit. Internet finance is foreign capital, and it is the most important card to open up the relatively closed financial market. Strictly speaking, we are still benefiting from Ali.

It has been a long time since foreign capital has wanted to intervene in the domestic financial system and gain control. When I was working at Temasek, I participated in several projects in which Goldman Sachs, Morgan and Temasek invested in major banks.

Everyone was complaining about the restrictions in the not-so-free-flowing market, which hindered everyone from making money. It was Goldman Sachs that took the initiative to contact and use Internet companies...

At that time, the largest payment software in the United States was also actively lobbying, and pressure from all sides forced the top to agree to open a window...

The rise of Qingyun Payment System is also the result of checks and balances between major countries. No one can use tricks to get out of the way. Otherwise, how could the company develop so smoothly? "

Lin Wenhui knows more and can see further because he has personally experienced it. “Foreign capital should absorb the wealth accumulated by social development through this system.

Just as the company did in Southeast Asia, it created bubbles, exploited them, and finally burst them, diluting social wealth in the process of rounds of price hikes and inflation.

Make the majority of people actively or passively participate in the game of secondary distribution of wealth. Whoever takes the initiative can take as much as possible in the distribution process.

Up to now, Qingyun has reported all the restriction proposals to the higher-ups. Can it be that the higher-ups cannot see the dangers?

No, it’s because the interest groups behind the scenes pushing for policy liberalization are too powerful. At the very least, the foundation of the current economic boom cannot be separated from the support and investment of capital.

In order to take, one must first give. The exchange of interests is a process of game. If Southeast University wants economic take-off, to develop internal affairs, and to expand foreign trade imports and exports, where will the money come from?
Where is the market?
The introduction of technology, equipment, raw materials, etc. all have to go through the hands of foreign capital, so temporary compromise is very necessary, even if it is in accordance with the WTO agreement to gradually open up areas.

It is now the turn of the financial industry. Ali is the first choice for foreign investment support, and Qingyun is just an accident. However, there are too many variables now, and foreign investment is forced to make compromises.

Softbank China Venture Capital, which was contacted a few days ago, has already made it clear that the two heads of the family can have open contact, but the chairman did not agree because he did not want to have any connection with Sun Zhengyi in public.

So the capital took a back seat and asked Mr. Ma to come forward and negotiate with the chairman. Of course, this was limited to the field of Internet finance, and other businesses still needed to be fought for. "

Xiao Chengdong was confused and only half understood what he heard. He subconsciously asked, "Didn't Ali and Tengda establish a cooperation? Why didn't the other Mr. Ma come today?"

“What are they doing here? Are they going to watch Weifu and Alipay join forces to dominate the industry, and by the way, give Tenpay a permanent third place?
Besides, he has not yet reached an agreement with the Chaozhou Congee guys, and has not yet formed a unified voice for Tengda, so he is not yet qualified to step to the front and become a chess player. "

Lin Wenhui sneered, "Tengda has repeatedly wanted to discuss the QR code scanning patent authorization separately. To put it bluntly, it is just getting impatient.

The company is engaged in shared bicycles, shared power banks, and promoting offline third-party payments in supermarkets, convenience stores, grocery stores and other street shops. Tenda Ali wants to learn from them, but the problem is that they don't have the technology.

Jack Ma's visit this time is probably with the bargaining chips of foreign capital behind him. He may use the relaxation of restrictions in Southeast Asia as a condition in exchange for the technical authorization for Ali to promote its offline business.

If it is delayed any longer, foreign investors may turn hostile and start to suppress the group's third-party payment business. It may not be long before Internet finance is regarded as illegal and replaced."

Nothing is impossible. When the main driving force, Yutai Capital, cannot benefit from it, it will inevitably change its position 180 degrees. At that time, Qingyun will only be able to survive on his own.

It is nothing but a pipe dream to want to continue pushing it forward!
Xiao Chengdong gradually understood, but he still didn't understand, "Why didn't Europe and the United States develop such a good business model?"

"Wall Street has its own trump card, and it makes a lot of money every year through various legal means such as credit cards, direct loans from financial institutions, and bonds from third-party financial institutions.

How could it be possible to distribute it to the emerging Internet capital in Silicon Valley? Even if Apple, which has created a perfect business closed loop, wanted to get involved in Internet finance, it would inevitably be hit by Wall Street. "

Lin Wenhui sneered, "Do American Internet companies have a conscience? They are not tempted by the huge profits of Internet finance because they have a moral bottom line?!
Bullshit, that's because more powerful capital is using tough measures to defend its own interests. It's not that Internet companies don't want to, but they are not strong enough and don't deserve to make this money. "

Said here.

The two big guys who were walking side by side in front didn't stop at all, and even took the initiative to get into a car.

"It's a shame that we didn't meet earlier. It's better to meet by chance than to invite each other. Why don't I treat you today and invite Mr. Liu Qiangdong from JD.com, Mr. Li Yanhong from Qiandu, and Mr. Zhou from 361 to come out and have a few drinks?"

No matter what happens to the companies under the names of the two people, it will not affect the relationship between the two people who are now close because of the interests of Internet finance.

Jack Ma did not refuse, "Okay, but it's a pity that Tony is not here."

Li Zehua laughed loudly upon hearing this, "Don't worry, wait until you and I have set up a good game and prepared some good wine, then Brother Ma will come by himself when he smells the aroma."

Jack Ma understood the deep meaning and nodded, "Indeed, but we can have one more drink with Tony Ma tonight to avoid making him unhappy."

"Then don't go home until you're drunk." (End of this chapter)