A century-old wealthy family that rose from Shanghai

Chapter 261 Don't Put All Your Eggs in One Basket

In September, Chen Guangliang borrowed US$9 million from Citibank, using his four major corporate assets as collateral; subsequently, he entrusted Citibank to import (smuggle) 180 million taels of silver from Mexico or the United States on his behalf.

This major project was finally completed in early November.

Chen Guangliang did not transport the 800 million taels of silver back to the safe in the Ping An Bank Building, but rented the safes of Citibank, Standard Chartered Bank and HSBC and deposited them there.

As a result, the only Chinese person who knew about this matter was Chen Guangliang himself.

Chen Guangliang's wealth has always been kept secret from the outside world, and the only companies he has shown to the public are Changjiang Real Estate, Shangri-La Hotel, Changjiang Taxi, Global Shipping, Ping An Bank, Vitasoy and other companies.

His hidden wealth included 508 million taels of silver deposited in Ping An Bank and millions in deposits.

Of course, at the moment, he wasn't at great risk in the concession. The real risk came after 1937, when Japanese spies began to interfere in the concession. If he went to Chongqing, he would be exploited by the Nationalist government. Staying in Hong Kong wasn't a long-term solution.
In short, don't put all your eggs in one basket.

After 1934, Chen Guangliang will officially start his layout; as for the past two years, Chen Guangliang plans to first trade in the "silver", "US dollar" and "government bonds" markets.

Ping An Bank.

Xia Gaoxiang reported admiringly, "Boss, just as you expected, starting in August, banks and investors have been buying bonds in order to utilize their funds. So even though the bonds have been restructured, with lower interest rates and smaller principal repayments, investors are still making substantial profits. So far, each bond we've invested in has yielded a small profit of a few yuan. It looks like bonds will soon be in high demand."

Chen Guangliang said calmly, "Since we already have the chips, there's no need to focus too much on it. The right thing to do is to shift our focus to savings and lending."

He had long ago analyzed that, based on the peak prices of the Demobilization and Salt Tax Treasury Bonds in the first ten months of 1932, the combined interest and profits earned would average over 1% per month. Furthermore, investors generally believed that the government would maintain the bonds according to the restructuring plan, and that the banking industry, given the crucial relationship between bonds and finance, would also maintain the bonds. Even in the face of unimaginable fluctuations, if bonds were worthless, other investments might not be either. Bonds were easily traded, making both inflows and outflows easy.

Therefore, bond investment will soon become active, and next year (1933) will be a year of rapid growth.

The debt worth 30 yuan that Ping An Bank bought at the bottom may be worth more than 50 yuan by the end of next year, so the profit will naturally be considerable.

Xia Gaoxiang nodded and said, "Our loans are mainly secured by road deeds, house deeds, raw materials, commodities, etc., with a discount of about 30%. We also conduct stricter reviews of applicants. I believe our situation is healthier than other banks."

Ping An Bank has more than 1200 million in deposits, of which 500 million is in the form of government bonds, and loans have currently reached around 350 million, which is very healthy overall.

I feel that it is not suitable to invest in other projects. Take "silver" for example. The silver dollar is originally (over 7% silver), so if the silver price rises, the silver dollar will naturally rise as well.

But if the silver is not smuggled in exchange for US dollars later, it actually doesn’t make much sense, so this has little to do with Ping An Bank.

On the other hand, Chen Guangliang will naturally plan to exchange the silver in his personal hands for some U.S. domestic assets or U.S. dollars in the future.

Chen Guangliang then said, "Next year, I plan to have Ping An Bank open a branch in Hong Kong. I'd like to discuss this with you first so you can make some preparations."

Xia Gaoxiang added: "Do you want to open a branch in Guangzhou as well?"

Currently, Ping An Bank already has a head office and four branches in the Shanghai Stock Exchange. It is time to expand outward.

"Let's develop Hong Kong first, and then consider other places later."

"Okay, I'll have someone go investigate first."

With the banking network in Shanghai and Hong Kong, Chen Guangliang will have a channel to "transfer capital" in the future.

Of course, Chen Guangliang would definitely not transfer the money of Ping An Bank depositors. At most, he would continue to operate the bank in the concession after 1937, and finally gradually transfer it to Chongqing and other places.

However, Ping An Bank’s own assets will definitely be transferred in the future, first to Hong Kong and then to the United States.

Chen Guangliang’s second move at China Merchants Group was to reorganize the board of directors and set up a supervisory board.

This fire was supported by Song Zaiwen, with Zhu Jiahua as the chairman (Minister of Transportation), Du Yuesheng and Ye Zhuotang (Director of the Central Bank) as vice-chairmen, Chen Guangliang and Zhang Shouyong (Deputy Minister of Finance), Shi Liangcai and Liu Hongsheng as ex-officio permanent directors; a supervisory board was also set up, with Lu Xuepu as the chairman of the supervisory board.
After achieving this goal, he immediately started the third task - abolishing the comprador system on ships, putting an end to the malpractices of tax evasion and leakage in passenger and freight transport, and increasing business revenue.

The comprador system on China Merchants Steam Navigation Company's ships, that is, the manager system, also known as the "cockpit", was the biggest loophole of China Merchants Steam Navigation Company since its establishment.

The manager was in charge of the passenger ticket revenue on the ship, paying only a fixed amount, and pocketing all the proceeds beyond the fixed amount. In addition, he smuggled packages, collected freight fees privately, and collected deposits from waiters. The waiters also sold stalls privately, smuggled contraband, and extorted money from customers.

The China Merchants Steam Navigation Company's inland shipping operations operated over a dozen oil routes, dozens of docks, and dozens of large and small ships in Jiangsu and Zhejiang provinces. These assets were controlled by bureaucrats and compradors, practically in a hereditary system, leading to numerous drawbacks.

The losses from the comprador system alone amounted to 700,000 to 800,000 taels per year for the China Merchants Steam Navigation Company.

When Zhao Tieqiao was in office, he had planned to rectify the situation, but it was ultimately impossible to achieve because the situation was too serious to be reversed.

This time Chen Guangliang was forced to take the position, but his heart was as firm as a rock. He was determined to abolish the "comprador system" and "manager system" and replace them with the "captain system".

In the China Merchants Group meeting, Chen Guangliang, with his young and resolute expression, expressed his ideas to the crowd attending the meeting.

"In addition to abolishing the 'comprador system', I also plan to take back the Inland Waterway Shipping Bureau, and all shipping operations will be handled by the business department within the China Merchants Steam Navigation Company."

The Inland Waterway Transport Bureau was originally an independent department, but it was also a den of corruption and corruption.

Now that China Merchants Group is a state-owned enterprise, it should be directly managed by the company.

In fact, after doing this, other private shipping companies will definitely have to look to China Merchants Group for approval when operating inland waterway routes; China Merchants Group will have a monopoly on many inland waterway routes and will not allow private shipping companies to acquire them.

This move will naturally affect shipping company bosses like Yu Qiaqing.

Chen Guangliang had naturally communicated with Song Zaiwen about these matters and obtained his support, otherwise he would not have acted rashly.

Du Yuesheng reminded at this time: "I personally support the abolition of the comprador system, but it involves a lot of issues. If we act too hastily, I am afraid that some people will do something desperate."

Among them, many compradors are disciples of the "Three Tycoons", and he knows the nature of these people.

What's more, some local bureaucrats and warlords were involved.

Chen Guangliang said, "If the China Merchants Group were to collapse, our nation's image would suffer internationally, and our people would face even greater troubles as a result of this defeat—including continued pressure from the fleets of foreign powers to squeeze our shipping routes, worker unemployment, and even the government's finances. Personal gains and losses are no longer paramount in the face of these challenges. I'm dissatisfied with everyone saying that I've only been in office for a little over a month, and I've already received a constant stream of threatening letters. However, since I've accepted this assignment, I will not back down. Not only am I determined, but the Nanjing government is also determined to overhaul the China Merchants Group. Therefore, within six months, we must eliminate these long-standing problems and give the Group a brand new look."

Everyone applauded immediately, including Du Yuesheng. He definitely supported the work of the China Merchants Steam Navigation Company. After all, he knew that the Nanjing government was serious this time.

This time, Chen Guangliang also made a serious contribution to the country. He not only sent elite personnel from his own companies to China Merchants Group on loan, but also introduced the first and second routes.

More importantly, he was doing this at the risk of his life.

The new notice issued by China Merchants Group was quickly reported by the media.

Of course, Chen Guangliang is not stupid. Seven directors signed the notice one after another, which is equivalent to gathering the signatures of people from the "government", "finance", "media", "Green Gang" and "business community".

Although most of the firepower may be directed at Chen Guangliang, others will also share some of the burden with him.

such as.

Zhang Xiaolin approached Du Yuesheng and asked, "Does the China Merchants Steam Navigation Company really want to abolish the comprador system?"

Du Yuesheng replied: "Not bad"

Zhang Xiaolin looked menacing and said, "What a young boy! He's not afraid of offending so many people. Besides, I just recaptured this ship not long ago. Am I going to give it up?"

He was talking about the ship that Li Guojie had given to Wang Yajiao. Of course, what he gave him was not the ship itself, but the position of comprador of the ship.

The comprador of a ship is equivalent to a small bank that can generate profits continuously.

Du Yuesheng advised, "Brother Xiaolin, this time the Nanjing government and Song Ziwen are determined to rectify the situation. Chen Guangliang holds the imperial sword. Moreover, in order to develop the China Merchants Steam Navigation Company, Chen Guangliang has even introduced two of his own routes to the company. So, when it's time to recognize the current situation, don't be confused!"

Zhang Xiaolin could only say unhappily, "Are you willing to do that? You know, our disciples have made a lot of money from this comprador, and this has affected the interests of many people."

"National interests come first"

Zhang Xiaolin could only part ways unhappily.

In fact, Zhang Xiaolin was just one of them. Huang Jinrong and Du Yuesheng were also among them. They all had disciples who were compradors of the China Merchants Steam Navigation Company.

Of course, Chen Guangliang would only take precautions for the safety of himself and his family, and would not pay any attention to them. He was afraid that one day the commander-in-chief's relatives would be found during the house search.

This is also why Chen Guangliang needs the support of Song Zaiwen and has to let the Minister of Transportation Zhu Jiahua serve as the chairman of the board.

"Once Upon a Time in China" has officially begun to be released at the Times Cinema. It is expected that it will be released in the second-run cinemas after 30 days, and finally in the third and fourth runs.

On the day of the release, Times Cinema is about to start with packed shows, leaving other film companies in the dust.

This year, Times Pictures has become a veteran film company that has surpassed Star Films, United China Film Group, and Tianyi Film Group with the three films "Huo Yuanjia", "Fist of Fury", and "Diao Chan".

It can be said that all three films have achieved even greater success than "Burning Red Lotus Temple", establishing their new dominant position in the Chinese film industry.

The next film, "Once Upon a Time in China II", is a concept of surpassing oneself. If it achieves brilliant results, then Ren Pangnian will become one of the "three major directors" of Times Pictures.

At the first show of "Once Upon a Time in China", Chen Guangliang also came to join in the fun. He wanted to bring Yan Renmei with him, but considering the situation in the cinema and not wanting her to be emotionally unstable, he did not bring her.

Sheng Qi and Zhuang Zhujiu, a couple, accompanied Chen Guangliang to watch the movie, as well as Ren Pengnian and other crew members.

in the cinema.

Soon there were bursts of applause. Huang Feihong's lion dance was very exciting, and his martial arts were naturally more "high (fake)" because he used a lot of hanging wires.

The film also touches on the French (Sino-French War), the British (Concessions), and the Americans (Human Trafficking), to the point that Chen Guangliang was a little worried that the Concessions would be blocked later. Of course, the Sino-French War is only briefly mentioned (Feng Zicai is a hero), the British are there to maintain order, and the Americans are just businessmen, without any intentional smear campaigns.

"Ha ha"

When you see Thirteenth Aunt taking a photo of someone, and the camera catches fire, almost burning several elders, fortunately Wong Fei-hung kicked the chair, but ended up roasting several birds; this plot made people of that era laugh so hard that they couldn't breathe.

Sheng Qi, who was next to Chen Guangliang, laughed so hard that she lost her ladylike demeanor. She first had physical contact with Zhuang Zhujiu, and then took care of Chen Guangliang.

"Why don't you feel happy? Are you sorry Renmei can't come? Do you want to ask Aunt Thirteen to sit next to you?"

Chen Guangliang suddenly sighed, he was really popular with girls. Sheng Qi was already married, why did she still like to play such jokes on him!
"Pay attention, you are the elder after all! I am your boss after all!"

Sheng Qi laughed and said, "I'm just seeing that no one is talking to you."

Chen Guangliang changed the subject and said, "Let's go to the office for a meeting later."

"Oh"

He had seen better-made movies of this kind, and they had the same plot, so naturally he wasn't very interested.

However, this movie has already won applause from all the audiences. Even if it is not as good as "Fist of Fury", it is definitely not far behind.

The movie ends.

The applause was louder and louder, and many people were reluctant to leave the cinema. Even if they did leave, they were still chatting.

"Once Upon a Time"

"Thirteenth Aunt"

Someone recognized the actors and almost caused a riot. Fortunately, they were on the second floor and there were people maintaining order.

After the movie, Chen Guangliang invited core management including Zhuang Zhujiu, Sheng Qi, and Lu Hanzhang to the administrative department of Times Cinema for a meeting.

"This year, we not only opened the Times Cinema, but also invested in five three- and four-run cinemas, which have been put into use one after another. In terms of movies, we have also shot four very popular films."

Everyone's face became happy, and some felt it was incredible.

Chen Guangliang continued, "So, next year our goal is to invest in a cinema and filming base in Hong Kong. Director Zhuang, please make a few more trips to take care of the cinema. Director Lu, you will be responsible for purchasing the land and setting up the filming base."

Lu Hanzhang asked, "Why not invest in a filming base in Beiping?"

Chen Guangliang said: "We invested in Hong Kong mainly to have a second base in case of war. Beijing and Shanghai are both in the first level of danger, so we only need to set up a branch in Beijing, recruit actors and provide some work."

"war?"

Everyone has this question.

Chen Guangliang said: "We need to plan ahead. What happened last year and at the beginning of this year taught us that we need to plan everything in advance. In addition, Hong Kong is more convenient for issuing to Southeast Asia."

Only then did everyone understand.

With the cooperation of Lugen, the cinema king, cinemas in the north no longer need to invest.

Subsequent investments by Times Pictures will only be placed in Hong Kong and Southeast Asia, which is also a disguised form of "not putting all eggs in one basket."

After the meeting.

Chen Guangliang left Zhuang Zhujiu and Sheng Qi behind and said, "You two should have a baby quickly?"

Sheng Qi said in disbelief: "You want to take care of this too?"

Zhuang Zhujiu, who was standing by, was secretly happy and became even more determined to work hard for Chen Guangliang.

Chen Guangliang said, "It's not my business. Mr. Zhuang is very important to the expansion of Times Cinema. If he's on a business trip to Hong Kong or even Southeast Asia, you won't be able to be together every day. So, it's certainly a good time to have a child. Maybe we can even become in-laws in the future!"

Sheng Qi muttered, then said, "Can't you just not send him?"

Chen Guangliang said, "You two can go to Hong Kong together for a vacation and get familiar with the environment there. We might even need to seek refuge in Hong Kong at some point. Having a familiar place means having more options."

During the January 28 Incident this year, many people went to Hong Kong for refuge, after all, they didn't know whether Japan would really occupy Shanghai.

So what he said makes a lot of sense.

Zhuang Zhujiu immediately said, "Okay, we have to go to Hong Kong. After all, it is related to the development of Times Pictures and our interests."

He usually doesn't try to outshine Sheng Qi, but now he obviously wants to go to Hong Kong with Sheng Qi to have some fun and work at the same time.

Sheng Qi suddenly said at this time: "Speaking of profits, the stock of our Times Pictures has risen dramatically. I'm afraid it will rise to 300 million."

The four most popular and hit movies, the glory and expansion of Time Cinema, are the reasons for the surge in their stock prices.

Chen Guangliang suggested, "How about we both wait another half month and sell 1000 shares. After all, the stock has risen too much, and we should take the opportunity to sell some."

Sheng Qi said honestly at this time: "I'll listen to you!"

Chen Guangliang nodded.

If we don’t kill those speculators now, when will we?

Currently, Times Pictures has issued 13500 shares. If the price rises to 300 per share, the market value will be 400 million, which is obviously too crazy.

The speculators' mentality is understandable. With four of the hottest movies shot in a year, the Times Cinema had an extremely high attendance rate, and it was the first to fill the gap in cinemas in Zhabei and other areas.

"I'll arrange for the newspapers to prepare the public opinion, and you can find a good time to release it in batches."

"Thank you"

Sheng Qi really recognized her friend Chen Guangliang. He had promised her that he would help her make money, and now he had really made money.

The 40 yuan investment is now worth more than one million yuan, almost doubling.

(End of this chapter)