My Lord, you need to stand up!

Chapter 941 The Strong: Then Let Fate Decide.
At that time, there was only one state-owned insurance company in the entire country.

The West District Social Security Company is also the only "private" insurance institution.

Even Wei Dong's companies were unaware of this.

Once he became a capitalist, Wei Dong's thinking was to encourage everyone to take advantage of the times and buy two more houses so that they could have a more comfortable retirement in the future.

He himself has no motivation to promote the five social insurances and one housing fund.

Not to mention Pengzhen, which is undergoing rapid development.

So the West District Labor and Personnel Department was transformed into a social security company, and the 33-year-old personnel department cadre became the deputy manager of the social security company. Xiong Guoming did not slack off.

His proposed idea was: "Since companies don't respond much to social security and workers don't have such a long-term vision, can we take the initiative to expand commercial insurance and sell insurance to some people with foresight and vision?"

This made Wei Dong wary of banks, especially 30 or 40 years later, when the tax authorities were everywhere saying that businesses and industries were struggling, while only banks were rolling in money.

That's why he's now deliberately exploring new paths despite his lack of understanding, aiming to solve the urgent housing and future car loan needs of ordinary people and support industrial development, rather than using a large and bloated scale as a measure of development achievements.

But insurance, especially the commercial insurance that this young cadre in the western district mentioned.

Wei Dong understood this all too well. No one had ever discussed it before: "Social security is a safety net. It includes pension insurance, medical insurance, unemployment insurance, work injury insurance, maternity insurance, and housing insurance... Let's not talk about those for now. The main thing is these five insurances. Each month, we collect a little less for each one, maybe five or ten yuan out of a hundred or so yuan of salary. When something really happens and we really need it, we can pay it off once or twice and build up a good reputation. That's not difficult. What's difficult is that we have to spend a lot of effort to promote it, set up distribution points, and verify the payouts in order to collect this little bit of money."

The two or three people in charge of insurance must have been shocked.

Old Fang's fan froze.

You keep telling me you don't want to work in banking or insurance, and you always make such a convincing argument about it.

Xiong Guoming was naturally overjoyed: "Does Dong really know a lot about the insurance industry?"

My own father was injured at the construction site, ruining his life.

He was injured while trying to help someone, and his life was wasted.

Wei Dong felt a deep sense of emotion about this: "I started from the bottom selling things, and what triggered me to give up the college entrance examination and go to university to secretly sell cured meat was that my father fell from a construction site, and the family lost its breadwinner..."

Selling cured meat from a basket on his back, Wei Dong's legendary growth story has been publicly displayed in many places, but few people know the driving force behind it.

Apart from Lao Fang, who is a veteran revolutionary, no matter how hard the others struggled, their starting point was never this low.

Even those who can come to the West District all have some background; just look at Gui Zhenfei to see his worth.

Now everyone listen quietly.

Then, turning to the bodyguard he brought along: "...This is a very real problem. Disability insurance and pensions should be reflected in insurance. How to pay out urban and rural medical insurance and social insurance to the general public is a huge project. Of course, I am willing to explore and work hard with the West District Social Security Bureau. But commercial insurance, hehe, there are too many tricks involved. It is simply not worthy of the two original intentions I mentioned earlier."

Old Fang probably doesn't have a deep understanding of all the different directions, but at seventy years old, he is still willing to learn and understand, and dares to fight.

Their eyes gleamed with sharp light, because a qualified leader is one who can see the dark side.

He gestured for the bank staff to listen attentively as well.

Because Wei Dong approved the bank's application along with his own: "Of course, I have employees and companies in North America and Hong Kong, so I definitely need to understand this. There are also lawyers to explain it to us. Investment is my specialty. In my understanding, banks and insurance companies collect money from various channels, then invest this massive amount of funds, and then use the profits to pay premiums and interest. Essentially, it's about making small money from big money, which is always more likely to make money than the poor, in order to ensure that financial institutions are rolling in money."

The conversation shifted abruptly: "Okay, so before we had the national bank model, local banks didn't have much autonomy in lending, and the success rate was low, so there was a huge black hole. Commercial banks and insurance companies can greatly increase this probability. After tasting the benefits, won't banks and insurance companies forget their original intention of making people's lives better and promoting social development?" She then went on to express her utter disgust: "For example, will banks launch high-interest wealth management products to lure depositors into investing their life savings or retirement funds? If they win, they'll only escalate the losses; what if they lose? Banks will definitely ensure they don't lose with these commercial wealth management products, secretly adding a profit and loss clause, turning banks into casinos?"

To be honest, Wei Dong, who had worked as a security guard within the system for forty years, shouldn't have been too poor.

At least in a prefecture-level city like Shangzhou, if you don't buy a house or a car and don't bear the cost of education, being a bachelor is actually something your colleagues envy, especially since you're a security guard who's easily driven crazy by a bad marriage.

But in the end, he didn't have much money; he had been cheated in these kinds of things.

"Commercial insurance is even worse. Social security is a good thing done by the government to cover the bottom line, while commercial insurance is actually a gamble on probability. Of a thousand people who buy critical illness medical insurance, how many will not be able to use it? Most people who buy accident insurance will not have an accident, so the profit is terrifying. In order to deceive people into buying these insurance products as much as possible, will they go against their conscience to boast and promote them, or even establish a pyramid sales model where each level of sales gets a kickback?"

Xiong Guoming was definitely dumbfounded. He had thought that Wei Dong would be a superior who understood and supported insurance, but he didn't expect that all he understood was negative.

He quickly explained: "I believe that personal insurance does have the drawbacks that Dong mentioned. What I want to emphasize is that commercial insurance covers all aspects of society. For example, our ocean-going freighters must be insured, otherwise no freight company would dare to deliver the goods. This is a huge financial drain and also a strategy to break the monopoly of foreign capital."

Wei Dong made it clear: "Actually, I hold the same attitude towards both banks and insurance. These are two giant monsters that are necessary, but whether they can be controlled and whether they will eventually backfire depends on the ability of the person in charge. I don't think I have that ability. What I'm good at is commercial sales operations, and I can even help banks and insurance companies make as much profit as possible in investment projects. But I will not participate in the specific operations of these two parts. I will only supervise and examine the growth of these two monsters from an outsider's perspective."

Xiong Guoming finally breathed a sigh of relief and reported the progress: "So now we are applying to the head office and the leaders in Beijing for an important matter. Can you also work on this together?"

He gestured for Wei Dong to look at Lao Fang, then started fanning himself again: "I don't understand. Back when you weren't here yet, the industrial zone didn't have the stable situation of the large factories you dominate now. There were many conflicts and troubles among the workers. Xiao Xiong came up with the idea of ​​having the workers contribute some money to set up a fund so that everyone could cover any work-related injuries. I adopted it, but this approach doesn't solve the problem of water without a source. The fund needs to be invested and grown, which is why the social security company was established. But then he proposed setting up a commercial insurance company. My attitude is the same as yours: you tinker with it, I'll supervise, and you can get the approvals yourself."

As he spoke, he pointed to Wei Dong with his fan and said, "At twenty-four years old, what amazes me most is that he can maintain such a calm and objective attitude. He considers defeat before victory, which is why he can win every battle. Everyone should learn from Rang Dong in the future. I will take full responsibility. Today's meeting ends here. I hope everyone can remember the original intention of the China Merchants Investment Bureau's resurgence, which was to explore the path of reform and opening up and to clear the way for prosperity and strength."

Compared to companies in the port and container sectors that develop step by step, banks and insurance companies clearly have a higher ceiling.

This was the official handover to Rang Weidong.

Rang Weidong, who replaced Lao Fang as vice chairman, decided to take all of them with him to Hong Kong, since taking a speedboat would be quite convenient.

Unlike the empty cabins at midday, there are quite a few Hong Kong commuters returning home now.

After Li Xuehong settled everyone in, Xiong Guoming once again showed a different kind of enthusiasm than Lao Wang, constantly asking Wei Dong where his knowledge of the insurance industry came from.

This almost made Wei Dong give himself away, so he had to put on a stern face and say, "I've seen a lot overseas, so I support your work and may even provide funding, but I won't support you in getting the permits."

He actually has the mindset of someone in their sixties, and he's been playing high-level games for the past few years.

At that time, Xiong Guoming asked for help to go to Beijing to apply for the permit. Lao Fang interrupted at the right time, which made Wei Dong not only need this buffer to think back on his own, but also gave him a vague hint: Is someone who can get the permit on his own an ordinary person?
Gui Zhenfei is now running around like a fish in water, shuttling between the switch R&D unit and the local telecommunications bureaus where the switches are mainly used.

He Yuzhu is far inferior to him.

The computer company executive could only adopt a similar approach to that of Rang Weidong, coordinating branches nationwide to prepare for civilian sales, as the Guanzikou route was completely blocked.

Xiong Guoming nodded enthusiastically and said yes, financial support would be great.

Then I inquired about roughly how much support it could provide...

Wei Dong was really annoyed.

Let's take him to a nightclub and see what it's like to be out there partying.

Wei Dong treated the lowly soldiers with utmost care, fearing that they might be influenced or have their minds skewed. But for the generals, he would throw them into the Five Poisons Pool, leaving it to fate whether they could climb out of the dazzling array of temptations!

(End of this chapter)