My Lord, you need to stand up!

Chapter 940 Transfer of Troops
Right now, the only way for people across the country to deal with mosquitoes is to tough it out or burn mosquito coils.

Aside from the snake-like mosquito coils made from sawdust in rural areas, there are also those green mosquito coils with two fish intertwined.

If the concentration is too strong, it makes it hard to breathe while sleeping; if it's too weak, it's ineffective.

A factory launched electronic mosquito killers in the 1980s and 90s, which were essentially electronically heated incense tablets. They sold like hotcakes and built a dominant business empire.

But what Wei Dong presented was the ultimate solution for thirty or forty years from now:

"It's very simple: a brightly colored plastic ball coated with glue, which attracts mosquitoes and flies when hung up. But the downside is that it's a consumable item, and for an average family, it's a constant expense. So this is fine for places with flowers, trees, and lawns, but for ordinary families, they'll need an electric mosquito repellent..."

In fact, about twenty years later, many public restaurants had those ultraviolet fly killer lamps, which used ultraviolet light sources to simulate the components in sunlight, attracting flies and swatting them with a bang.

It has effectively solved the hygiene problem of flies swarming in many restaurants.

Later, some clever person, based on the numerous online shopping reviews from the tax office and supposedly an improvement on products exported to Africa, added a suction fan behind the electric grid. Mosquitoes and flies were attracted by the light and, if they got too close, were sucked onto the grid and turned into smoke.

It's a typical example of something that will kill you, combining multiple technologies.

Extremely high kill rate!

Moreover, it's silent and odorless, much more convenient than those suffocating mosquito coils or cumbersome mosquito nets for getting rid of mosquitoes.

Before 1983 or 1984, the only electrical appliance in many households across the country was a light bulb, and the voltage was unstable and flickering. There was no spare capacity to develop electronic mosquito killers.

The market also prioritizes the development of appliances like televisions and radios, which can be considered major wedding items.

Hair dryers and microwave ovens are a better priority than this thing.

Now that it's 1988, it seems like we can finally take a breather and pursue a more comfortable life.

Of course, Wei Dong claimed that he had seen it in North America and that it could be moved to Shenzhen to set up a factory for research and development.

Old Fang, like a kind retired old man, leaned back in his chair and pointed at these people: "After I retire to the second line, I will serve as the secretary and build the Party School. You should follow Dong to go out and see the world, learn and improve your skills. The goal is to make a happy and beautiful life possible in the mainland as soon as possible."

Even the place where I live now is desperately trying to close the gap with Hong Kong, expressing the heartfelt desire that as long as we work hard, we can catch up and the mainland will definitely have it too.

Otherwise, it would be a one-sided crushing defeat.

In fact, the so-called villa where Lao Fang lives has very simple furniture and no decorations, and it is no different from the village house of an ordinary countryman.

The only good thing is the outside environment.

So it's definitely worth getting some mosquito killers.

While Wei Dong was talking to these key figures from the investment bureau, they were all busy swatting mosquitoes.

Only Lao Fang smiled and silently increased the frequency of his palm-leaf fan, preventing the mosquitoes from working in the hurricane.

He also gestured for Li Xuehong to fetch a stack of bank business licenses that were sitting in the living room.

In fact, banks had already taken shape long ago. In 1984, it was discovered that some companies in the West District Industrial Park deposited money and others took out loans. The interest from this inflow and outflow made the banks a free profit.
So back then, Lao Fang boldly applied for an internal settlement center!

Even You Qili wouldn't dare to think that way.

Wei Dong is like a master of the Midas touch; he basically raises his own funds for every project, and he can make money as soon as he starts.

Aside from employee housing loans, they almost never borrow money from banks.

So I don't feel that way at all.

Old Fang, however, had the outlandish idea of ​​mobilizing funds among all enterprises within the West District Wharf Industrial Park to borrow and deposit profits.

It already has the feel of an "underground bank".

However, the application report submitted in 1985 was approved by the Shenzhen Special Economic Zone as a non-bank state-owned financial institution, thus providing them with protective armor.

It is also China's first corporate internal settlement center and finance company.

One of the general managers present, surnamed Wang, had been leading the operation for over two years.

Wei Dong had occasionally glimpsed this finance company when reviewing reports from the western region, but he never gave it much thought.

Aren't all the finance companies under Long Zhenwei's name just loan sharks?

Subconsciously, I still felt it wasn't a good thing.

Later, no one in Shangzhou ever heard of such a thing as a finance company.

Actually, there are already business offices in the entire western district. It's just that all the finances of the Dongsheng Group are controlled by Dong Lao Er, so they haven't been included here.

Then last year, Weidong was tasked with developing the Yuepeng Expressway. A group of Hong Kong businessmen were brought in to crowdfund 49% of the shares, while the local government of eastern Guangdong held 30%. No state-owned banks dared to take over the remaining 21%.

Taking advantage of the opportunity, Lao Fang launched the China Merchants Bank. After applying to the head office for several months, it was actually approved! This made Wei Dong realize that the first "private" bank in the country would definitely be established. But he didn't expect that he hadn't even spent a penny. The approval document had his name on it, and it was approved in November 1987, with a validity period of six months.

If the company fails to establish a formal business operation within six months, the license will be revoked.

But in Lao Fang's eyes, the West District is a special zone within a special zone.

If Pengzhen is to make any decisions, it requires various discussions at the municipal level, and even the efforts of various parties to negotiate.

In the West District, whatever Lao Fang says goes.

The business registration and tax departments all start in the western district!

Yes, that's the first floor where Wei Dong suggested turning it into a service hall, where everything can be handled in one go.

The business license was issued immediately. The issuing authority was the Xiqu Branch of the Shenzhen Municipal Administration for Industry and Commerce, and the license number was Xiqi 0345, making it the 345th company registered in the entire Xiqu District.
China Merchants Investment Bank;

The company's head was Wei Dong;

Registered capital of 100 million yuan;

Economic nature of the whole people
Accounting format: independent accounting
Production and operation methods and financial business
Business scope: RMB and foreign currency deposit, loan and settlement business, urban residents' savings deposit business, securities issuance business approved by the head office, and other businesses approved by the head office.

The key is the last point; actually, anything can be done.

Li Xuehong went to the bidding bureau's office building every day to make connections. Even though Wei Dong didn't brag about it on the phone, he still learned from her that he would be in charge of the bidding bureau.

But I never expected that the first thing he would do upon taking office would be to open a bank!

Wearing high heels makes my feet feel like they're floating.

People from Shangzhou are truly involved in business and understand all too well what banks mean.

That is the core of a commodity economy.

On the contrary, Wei Dong, who came from the countryside, was more composed. Besides, he had seen many banks in Hong Kong.

Hong Kong opened up the banking sector, but most of them went bankrupt, lost money, or were transferred: "I remember we discussed that this investment bank shouldn't be involved in urban and rural residents' savings deposit business, it should just be a professional investment bank."

When it comes to investment directions for the next twenty years, perhaps no one is more accurate than Rang Weidong.

Cheng Lang wasn't as familiar with him as he was.

Moreover, Wei Dong harbored a deep-seated, stereotypical view of banks as having a love-hate relationship with tax and financial institutions, compounded by repeated reminders from his former superiors in Shangzhou.

"The responsibility of this bank should be to assist those excellent investment projects that truly have entrepreneurial and developmental needs and require funding, especially those related to people's livelihoods, the economy, and scientific research and development. For example, the mosquito killer we just talked about. Even if there is no funding for research and development or construction, but the discussion is well-structured and reasonable, then it should be an excellent investment opportunity. We should gradually control the investment..."

He didn't quite understand either; this was already starting to resemble venture capital.

Banks also do these kinds of projects, but venture capital, which requires a high level of expertise, is the domain of financial investment institutions. Banks tend to focus more on basic financial services.

Fortunately, his advantage lies in his abundant funds and numerous large projects that demonstrate his capabilities.

For example, mortgage loans, car loans, and infrastructure investment loans can make money steadily: "The first job will definitely be to raise funds to invest in the Yuepeng Expressway, and then... follow the various projects of Jianggang Real Estate, Shangzhou Real Estate, Jiangzhou Real Estate, Huhai Real Estate, and Pingjing Real Estate to carry out mortgage loan work. This can be considered as the start."

Old Wang, who was in charge of the finance company and had essentially become the general manager of the bank, was surprised: "Not running bank branches? Relying solely on corporate deposits and withdrawals? It's going to be very difficult to scale up this way."

Wei Dong may not understand banking, but he has a knack for investment: "Let's try to take it slow. If Mr. Fang can push for the birth of China Merchants Bank, then our private bank should deliberately show the difference from state-owned banks. For example, in the early stages, we certainly don't want ordinary private deposits. We can raise billions or tens of billions of yuan from Hong Kong. The investment in highways and mortgages has a payback period of twenty or thirty years. To sustain this situation, we need to increase revenue and reduce expenditure. For example, we can set up a bank storefront in Hong Kong, one in the western district, and gradually expand to Jiangzhou, Shanghai, and Beijing, and then push it to the provincial capital. It's more of a signboard and an office. We'll see how to do it slowly. Nobody knows what a private bank should look like, but it must be clean, transparent, and clear, and able to withstand scrutiny."

Old Fang struggled for ten years, and now he's finally enjoying the relief, laughing heartily as he fanns himself:
"This guy is really good at disclaiming responsibility. The Economic Commission wanted him to start a bank a long time ago, but he refused completely. In the end, he still dragged us to the West District to do it. To run a commercial bank, you need to have a business attitude. You should all learn from him. I only have one suggestion: the Investment and Procurement Bureau should also get into real estate. That way, they'll have their own base. Now, let's talk about insurance..."

The bank quickly made a record.

Old Fang's eyes were still sharp; he could see that Wei Dong was forced to take over the bank, and that Wei Dong didn't even understand banking. But Wei Dong remained calm and composed. His biggest reliance, besides overseas funds and funds that could be raised in Hong Kong, was the housing reform in mainland China, especially the large number of real estate projects he was involved in.

Slowly extract profits from the monthly mortgage payments of countless households – a sure-fire way to make money.

This ability to succeed in business is the biggest flaw in investing.

So, although the investment bureau is still investing heavily and has little spare cash, its total assets have increased dramatically compared to ten years ago, and it needs to get involved in real estate to keep up with this situation.

But the most discerning eye recognized Wei Dong's willingness to take on responsibilities and invest in the people's livelihood.

In 1985, he was approved to establish the first corporate insurance institution in the country, solely to promote the creation of various pension and medical insurance reserve funds for so many migrant workers in the West District Industrial Park and Pengzhen.

By establishing a social security company and using social security funds for investment and profit, we can ensure that insurance payments are not made by relying on the money of future generations to support those who came before.

This is the greatest responsibility he has given to Wei Dong.

(End of this chapter)