My Lord, you need to stand up!

Chapter 584 But we can't force things to grow too fast.

Until the factory area was visited and inspected.

Sitting in the attic restaurant on the fifth floor, the leader of the Economic Commission finally revealed the main purpose of his visit.

"This year's economic war has indeed been filled with the smoke of battle. Cutting fiscal spending, strictly controlling the scale of credit, and implementing state-owned enterprise reforms—behind each of these measures lies fierce competition. Now, we are launching reforms to the banking sector."

This is where the advantages of the garden roof that a group of laymen had tinkered with at the time became apparent.

It lacks the charm that experts describe, though some jokingly say it has a touch of the Eight Great Hutongs style.

The alleyways were narrow and the landscaping was neither fancy nor sophisticated, which made Wei Dong seem like a person who didn't care much about such things.

So even the small canteen where office staff eat lunch can hardly be described as elegant.

Even the security personnel could eat at the makeshift octagonal table next to them.

It is obvious that they are not living in an extremely wealthy environment.

This would prevent Wei Dong from showing off by arranging delicacies at a time like this.

He simply told the girl not to cause trouble, and to prepare a simple meal with a few dishes and two soups, featuring some Sichuan specialties.

He glanced at the sharp-eyed man and gestured for him to put less chili in.

So we just ate something simple, and from the unobstructed half of the basketball court in front of us, we could see the entire factory area, especially the newly built high-rise dormitory buildings.

The atmosphere was quite nice.

At least Wei Dong felt that eating here was much more suitable than going to that private restaurant on the ridge.

The official from the Economic Commission pointed to the buildings in front of him: "Real estate construction has indeed played a stabilizing role, anchoring the price increase trend and curbing the arrogance of a considerable number of people who take the opportunity to make profits. But the root cause is still the banks, even though three banks have been opened in recent years."

The China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China, which are familiar to later generations, were all established at this time. Including the Bank of China, which was separated from its headquarters to handle foreign-related matters, all of these were established to carry out work in relevant fields during this period.

But as this person said, the results were minimal.

Wei Dong had already discussed this matter with the old leaders of Shangzhou. No matter how many more are opened, they are just for show; the essence is the same.

“Local state-owned enterprises and local branches of commercial banks are all part of the local government system. Even the appointment and removal of bank management are controlled by the local government. Therefore, bank loans are directly regarded as a second source of revenue, so banks have never been able to assume their due financial responsibilities. We are considering whether to establish a private bank…”

This immediately set off an alarm bell ringing in Wei Dong's mind.

That's right, he knew. It seems that the first private bank was indeed established in Jiangzhou, spearheaded by the descendant of the shipping magnate who had attended a meeting with him the year before last.

Private enterprises running banks...

I wonder how many businessmen have already rushed in just because they saw this reputation.

This guy's a banker!

Many capitalists dream of becoming bankers their entire lives.

The final form of capital.

Simply put, having a banking license means you won't be charged with illegal fundraising. You can legally accept deposits, legally operate various financial projects, and legally invest in various large projects.

So Wei Dong waited for the other party to finish speaking before getting straight to the point: "You wouldn't expect me to take the lead, would you? I'm only twenty-two years old, with a high school education. I don't know anything about finance. I mainly achieve some success through sales work. Isn't it a bit unbelievable that I would participate in the establishment of a bank?"

Because you can see from the other person's expression that they slowly raise their eyebrows as they speak, as if to say, "Yes, it's not impossible."

"That's what I was thinking. Judging from your expression, it doesn't seem so far-fetched. You don't need to worry about the capital issue; the country is your backing. As for the financial work, I've heard banks praise your financial software many times. You probably don't understand it, but professionals do."

He further elaborated: "As for age and education, the leaders of the banking system in the early days of the People's Republic of China also had various circumstances. The key point is that you are trustworthy in the economic wave and have forward-looking economic work capabilities."

Finally, the following idea was proposed: "The biggest reason is that you have been very successful in transforming third-tier factories and related enterprises several times. If you have such a bank, it would be like removing the funding restrictions for you. I hope you can use financial means to solve the difficulties of more enterprises."

Neither of the two from Jiangzhou said anything, but their expressions suggested they knew something.

If this is to be established, it will definitely be in Jiangzhou, so the first companies to benefit will also be in Jiangzhou.

Economic system reform, that's why Jiangzhou is even more ruthless than Pengzhen.

That side is a completely new establishment, while this side is being used as a testing ground for reforms of the old model across the country.

If it succeeds, promote it; if it fails... bury it? So letting Wei Dong open the door for something so outrageous is just ridiculous. It's outrageous to the extreme.

A clear refusal: "I simply cannot. Even though it is my inescapable duty to explore economic reforms, I would never participate in banking work..."

What ordinary people see is being a banker.

Three years ago, Ren Weidong couldn't see any risk. At worst, he would just be a nominal bank president or founder. There are so many bank presidents out there, it's no big deal.

But it was precisely during these three years that Wei Dong learned the basics of being a businessman from You Qili. His old leader repeatedly discussed various grassroots tasks with him and also advised him to stay away from bank loans.

His understanding is indeed different now.

Is this a problem of being a bank president? No, it's a contradiction between the totality and the specifics of finance.

The problem couldn't be solved even after opening several state-owned commercial banks, so they thought about trying to open a private bank.

Now local authorities can no longer interfere with the appointment and removal of bank presidents in various regions...

My God, this is the rope used in tug-of-war, and it's a yarn rope in the middle of two giants.

The package is broken.

Wei Dongling remained unmoved and firmly defended himself, saying, "I work in sales. When we transform a company, it's based on product and market sales, not finance. We usually only participate in investment after we've assessed that our promotion and sales capabilities are sufficient. It's a technical job, not a matter of throwing money at it. We don't need money."

The man from the Economic Commission, holding his chopsticks, hadn't expected Wei Dong to resist so firmly: "This guy is... the one who opposed me last time I suggested forming a state-owned consortium for auto parts, saying it wouldn't work. Have you produced the parts yet?"

The elders, though seemingly resigned, teased him, their anger subdued.

Wei Dong wasn't too worried: "Automobiles are the biggest industrial manifestation, the most important modern industrial standard. It's not that easy. Earning foreign exchange can alleviate the problem. We can't expect other projects to use up all the foreign exchange and leave us with nothing. I don't even dare to use the approved foreign trade quota casually. We can get a share of the foreign exchange from processing trade. Jiangzhou and the Yangtze River Delta region are definitely good places for automobile development. Give us some more time. Look, we've already made some progress with electronic computers. We have to do things one by one."

The people from Jiangzhou City stepped in to smooth things over: "Yes, the introduction of these minivans by the Fifth Ministry of Machinery Industry has indeed boosted the production of a lot of parts in Jiangzhou. Jiangzhou now has a foundation in motorcycle parts. I remember that the localization rate of minivans has reached 24%?"

The Cherokee only has one or two points, while the Santana has 7%.

How could it be accomplished overnight?

Wei Dong then countered, saying, "This is the issue of quality certification. If I want to supply parts to your cars, then my parts must pass a certain quality certification. You can't just be like a farmer carrying grain to deliver to the government, secretly adding water or adulterating it. There needs to be a quality supervision and guarantee process. Otherwise, the procurement of domestically produced parts will become a lucrative business."

Even the kind-faced man could tell: "Xiao Rang has indeed worked more in the front lines of industry and commerce, and has very little experience in banking and finance."

Wei Dong almost cried out in distress: "That's right. Let me tell you a joke. About two years ago, I was selling cameras and received tens of thousands of yuan in payments. I didn't dare to take it with me when I took the bus back. I didn't know about wire transfers. I bought several hundred small tape recorders and shipped them back to sell so that I wouldn't have to carry money everywhere on my body."

Everyone finally started laughing.

Unexpectedly, it was the one with sharp eyes who stepped forward and made the decision: "Alright, Xiao Rang is indeed not suited to working in the financial system. We should play to his strengths and avoid his weaknesses. You will come with me to Pengzhen tomorrow to do the work you are supposed to do."

Wei Dong was stunned: "Going...no problem, but what for?"

The man pointed around and said, “Investment promotion in Jiangzhou and Shanghai has far surpassed that of Pengzhou and Shenzhen. How can the comrades in the Special Economic Zone put their faces like this? You may not know, but this kid, the year before last, the year he said he didn’t know about wire transfers, went to a billionaire’s party in Hong Kong and blew up the mainland’s reform and opening up, and then tricked a few big Hong Kong businessmen into investing in Jiangzhou. Shanghai and even Beijing have also invested a lot, but Pengzhou and Shenzhen, which are just across the river, haven’t given you any benefits. You’re making a mistake, young comrade!”

Wei Dong did indeed slightly alter the way the wire transfer was handled; this happened at the end of the year before last, a year after his trip to Hong Kong.

But the tone of his voice carried a hint of mockery and sarcasm. I was very astute enough to know that what he said was a trap, but I didn't expose him.

Wei Dong quickly explained, "It's precisely because it's close that it's not easy for Pengzhen to get some investment. Jiangzhou is a poor place with high mountains and long rivers. We'd be grateful if we could find a few Hong Kong businessmen. As for Shanghai and Beijing, capitalists are definitely eyeing them. It's like flies trying to gnaw on the cracks of an egg. I'm just trying my best to help so that I don't suffer any losses."

This thin, short, white-haired man, still smiling, pointed at Wei Dong with his finger, clearly meaning, "Don't talk nonsense."

So the Economic Commission could only consult with Jiangzhou about it.

Wei Dong was told to estimate the trajectory and follow that line.

I quickly and secretly patted my chest in fear. I could have easily become a billionaire; I must never have fallen into this minefield.

But when he occasionally looked up, he would see those sharp eyes, as if they were always observing and locking onto him.

My heart jumped into my throat again.

Is there anything different about your investment promotion work?

(End of this chapter)