In the fiery red era of the heavens, refrigerators are refreshed daily.

Back in my bookish dorm room at Stanford, the California sun shone brightly outside the window as always. As I gazed at the scenery outside, my thoughts drifted far away.

The brief joy brought by the successful meeting with Weinberger and the initial cooperation agreement has long since subsided, transforming into a more calm and pragmatic driving force for planning.

Those pleasant conversations and the tacit understanding reached after mutual probing were merely the first cornerstone of the subsequent plans.

The real challenge lies in how to transform this cooperation, which remains at the verbal level, into a concrete, feasible, and substantive operational process that maximizes our own interests.

The most pressing issue is the significant limitations he currently faces in conducting all business and investment activities in his personal capacity. This concerns not only efficiency but also the security of funds and tax optimization.

What Weinberg seemingly mentioned casually during the meeting actually highlighted a key point:
For a foreign student, especially a Chinese government-sponsored student, to conduct financial operations worth tens of millions of dollars in the United States in their own name is tantamount to walking on a minefield.

Yang Guangming was well aware of the drawbacks of earning wealth in one's own name and had been waiting for an opportunity to resolve them.

The United States' complex tax system—with its high progressive tax rates, withholding tax regulations, oversight of cash flows, risks of unlimited personal liability, lack of privacy protection, and the potential for layers of scrutiny and obstacles to future substantial profits—can all harbor pitfalls that could erode potentially earned profits or even cause unnecessary trouble.

"We need a more professional, efficient, and safer platform."

Standing by the window, Yang Guangming gazed at the lush palm trees on campus and reaffirmed his idea.

Corporate operations are not merely a matter of making his partnership with Goldman Sachs appear more formal; they are the cornerstone for the stable expansion of his future business empire and for protecting himself and achieving long-term success in the turbulent international financial market.

However, registering a company, especially one involving a complex cross-border structure that may include offshore elements, is an extremely sensitive issue for a Chinese government-sponsored student like him, whose identity is sensitive.

His every move is likely to be scrutinized under a magnifying glass.

He must ensure that his actions are within the framework permitted by the organization and that he gains understanding and even support.

Fortunately, the situation has changed.

The organization not only explicitly confirmed his legal ownership of the two sums of money, totaling more than 16 million US dollars, but also granted him permission to conduct legitimate personal investments and business explorations, provided that he adhered to basic discipline, during their previous in-depth conversation.

This unprecedented "loosening" and trust is an affirmation of his personal abilities and patriotism by the organization, and it also provides policy possibilities and operational space for his current plans.

What he needs to do now is to skillfully transform this "possibility" into a "reality" that the organization can approve and that is procedurally compliant.

Sebastian Weinberger and Goldman Sachs, which he represents, became the perfect opportunity and a convenient "shield" to push this matter forward.

Using the professional advice of Goldman Sachs, a world-renowned top investment bank, as a basis for applying to the organization would undoubtedly greatly increase the persuasiveness and credibility of the proposal, demonstrating that this was not a personal whim, but a necessary professional step in cooperating with top international financial institutions.

A few days later, after carefully considering the wording and timing, Yang Guangming dialed the private number that Weinberg had given him.

The call was answered almost immediately, and Weinberg's clear and steady voice, as if he were always at work, came from the other end: "This is Sebastian Weinberg."

“Hello, Mr. Weinberg, I am Yang Guangming.” Yang Guangming’s tone was calm and composed.

“Mr. Yang, it’s a pleasure to receive your call.” Weinberg’s tone was more relaxed, with the usual friendliness towards a valued client. “How are the funds and account opening procedures going? Is there anything I can help you with?” He naturally assumed that Yang Guangming was there to advance their previous cooperation.

"I am actively preparing the relevant documents for opening the account, and the funds are ready. The transfer process to the designated account can be started at any time."

Yang Guangming first gave the other party the positive signals they expected to stabilize their emotions, and then subtly changed the subject, "However, before we officially begin operations, I have given some careful consideration to the main body and structure of the fund operation, and I have some new ideas that I would like to hear the advice of your company's professional team."

“Oh? Please go on.” Weinberg’s voice revealed obvious interest.

"I believe that conducting such a large-scale and potentially lengthy transaction directly with Goldman Sachs in my personal capacity is not the best option in terms of tax optimization, liability limitation, or flexibility for future business expansion."

Yang Guangming explained methodically and precisely, "I'm considering registering a dedicated corporate entity as the core platform for future investment activities. I wonder if Goldman Sachs can provide professional advice and structuring suggestions in this regard when dealing with clients in similar situations?"

Without hesitation, Weinberg on the other end of the phone responded in a professional and confident tone:

“Mr. Yang, your considerations are very professional and forward-thinking. This is indeed standard practice in large-scale financial operations, especially when cross-border factors are involved, and it is also an important means of protecting one’s own interests and achieving long-term asset appreciation.”

He paused, seemingly weighing his options quickly, before continuing:

"As I mentioned last time, Goldman Sachs has one of the best tax and legal advisory teams in the U.S. and even the world."

For situations like yours—non-US citizen, whose main assets and investment activities may cross borders—we have a very mature and comprehensive framework solution that we can provide for your reference.

If you are interested, I can arrange an informal meeting with our senior tax compliance director and a long-term partner from a top law firm specializing in this area to provide you with a detailed analysis of the pros, cons, costs, and benefits of various tax structures.

"That would be perfect." This was exactly the effect Yang Guangming wanted, to have Goldman Sachs' professional advice endorse him. "Thank you very much for your prompt arrangements and support."

"You're welcome, Mr. Yang. It's our responsibility to provide comprehensive value-added services to our key clients and ensure a solid and reliable foundation for our cooperation."

Weinberg's words were impeccable, expressing both the importance he placed on the matter and defining the boundaries of his services: "I will have my assistant immediately coordinate the schedules of several experts and arrange this meeting as soon as possible. The location can be near Stanford, or anywhere convenient for you, to ensure your comfort."

"It's near Stanford, I think. Thank you and your team for your help," Yang Guangming confirmed.

After hanging up the phone, Yang Guangming let out a soft breath.

Things are progressing steadily in the direction he envisioned.

With Goldman Sachs as his "backing," when he proposed the idea of ​​registering a company to the organization, it would no longer be just a personal request, but a professionally validated business decision necessary for cooperating with a top international investment bank. This would undoubtedly greatly increase the likelihood of the application being approved.

Two days later, in the executive conference room of a high-end hotel in downtown Palo Alto, Yang Guangming met with a team of experts from Goldman Sachs.

The conference room was private and luxurious, with thick carpets absorbing footsteps and soft lighting illuminating the gleaming mahogany table.

Goldman Sachs' lineup demonstrated its high regard for this young client: one was David Chen, a tax compliance director in his forties who exuded legal rigor; the other was Robert Jenkins, a partner lawyer from a top Silicon Valley law firm, with impeccably groomed hair and a well-tailored suit, specializing in cross-border investment and corporate structure.

Instead of immediately presenting his mature solution based on future knowledge, Yang Guangming played the role of a humble learner, first listening to the two experts' suggestions on several common architectural solutions based on the American perspective and conventional practices.

David Chen spoke first, speaking quickly and clearly.

He provided a detailed analysis of the advantages and disadvantages of directly registering a C-Corp (Incorporated Corporation) or LLC (Limited Liability Company) in Delaware, USA.

"Delaware has the most corporate-friendly legal system and mature judicial practices, making it the preferred choice for most American companies."

C-Corps have advantages in equity incentives and future IPO financing, but may face double taxation at both the corporate and individual levels.

LLCs typically enjoy look-through taxation, avoiding double taxation, but may be less flexible than C-Corps in terms of equity transfers and attracting external investors…

As he spoke, he wrote down key taxes and rates on a whiteboard, explaining the complexities of withholding tax, inheritance tax, and filing that non-resident aliens might face.

Robert Jenkins added from a legal perspective, explaining the effects of different forms of entity on the separation of liability.

"LLCs can provide members with adequate liability protection, but in certain specific circumstances, the risk of 'piercing the corporate veil' still exists, especially when personal and corporate assets are commingled."

"C-Corp typically have more thorough segregation of responsibilities..." He also mentioned details such as registered capital, director duties, and shareholder agreements.

Yang Guangming listened attentively, occasionally asking questions to guide the experts to explain certain details more deeply. He needed a thorough understanding of the advantages and disadvantages of these "conventional solutions" in order to more reasonably derive his own "optimized solution."

Just as the two experts thought they had covered all the options and were about to move on to the summary, Yang Guangming opportunely raised his deeper considerations in a slightly exploratory tone:

"Thank you both for such a detailed and professional analysis, which has benefited me greatly."

He first politely affirmed, then changed the subject, "However, after carefully listening to these proposals, I feel that my situation may require consideration of more dimensions."

I am not a resident of the United States, and my main place of life and economic activity in the future may not be in the United States.

Therefore, the efficiency of cross-border capital flows, the final repatriation path and costs of investment returns, and... given my personal background, the highest level of requirements for information privacy protection are all core issues I must confront and resolve.

He paused, his gaze sweeping over David Chen and Robert Jenkins, noticing the increased focus in their eyes, before continuing slowly:
"I have learned through some channels that in some mature international business practices, it seems that adopting a two- or multi-tiered structure of offshore holding plus a specific regional operation center can more effectively balance these issues."

For example, in an offshore jurisdiction like the British Virgin Islands (BVI), a holding company is registered as the top-level entity, and then a wholly-owned subsidiary is established in Hong Kong as the actual operation and management center. This Hong Kong company then conducts the specific investment operations in the United States.

What are your thoughts on this cross-jurisdictional composite structure? Are its advantages obvious, and how feasible is it in practice?

David Chen and Robert Jenkins exchanged a glance, both seeing a hint of undisguised surprise in each other's eyes.

They originally thought this young client only needed some basic advice on US company registration and tax planning, but they didn't expect the structural ideas proposed by the client to be so clear and professional, even pointing to the most core and efficient optimization solutions in cross-border capital operations, which completely exceeded their expectations for an ordinary international student.

David Chen was the first to adjust his expression, his tone conveying even more importance and approval:

“Mr. Yang, the three-tier structure of ‘BVI offshore holding + Hong Kong Island operation + US investment’ that you mentioned is indeed a very popular and proven classic model for high-net-worth individuals, family offices and multinational corporations in the international community, especially in Asia, when conducting global asset allocation and tax planning.”

He picked up a pen and carved out a new area on the whiteboard that had been filled with writing. There, he drew a clear structural diagram and explained it in detail at a faster pace:

"As you have envisioned, this architecture is typically divided into three layers, each with its own strategic purpose."

He pointed to the topmost box: "The first layer is to register an exempt company as the ultimate holding company in a purely offshore financial center with a sound legal system, political stability, and tax neutrality, such as the British Virgin Islands (BVI) or the Cayman Islands."

Its core advantages lie in two points: First, extreme privacy protection. The information of shareholders and directors of BVI companies is completely confidential and not publicly available for inquiry, which meets your high requirements for privacy.
Secondly, it is tax neutral. The BVI generally exempts income generated outside of its local operations, such as capital gains, dividends, interest, and royalties, from any form of local income tax and profits tax, making it an ideal 'capital pool' and 'shareholding platform'.

His pen moved to the middle layer: "The second layer is to register a wholly-owned subsidiary on Hong Kong Island, which is 100% owned by a BVI company."

Hong Kong Island plays the role of a 'regional operations and management center' here.

Hong Kong Island has a common law system originating from the United Kingdom, a mature and developed financial market, and a legal environment that is widely recognized internationally.

More importantly, it implements the principle of territorial taxation, that is, it only taxes profits derived from Hong Kong Island.

Income generated from investments made overseas by Hong Kong Island companies can usually be considered as originating from overseas when it is remitted to Hong Kong Island, thus giving them the opportunity to apply for a profits tax exemption from the Hong Kong Island Inland Revenue Department.

This means that investment profits may be subject to low or no taxes when repatriated to Hong Kong Island.

At the same time, Hong Kong Island companies need to have a physical office address, hire local employees, hold board meetings, and possess genuine operational functions. This not only meets the requirements of the economic substance law but also makes it easier to gain recognition from international financial institutions and partners, facilitating daily operations, decision-making, and banking business.

Finally, his pen landed on the bottom layer: "The third layer involves this Hong Kong company acting as the legal entity and contracting party, opening brokerage accounts in the United States, such as accounts opened with Goldman Sachs, to conduct specific securities investment operations."

In this way, even if any legal or commercial disputes occur at the US level, the liability and risks will be effectively isolated at the level of the Hong Kong Island company as a legal entity, and will not easily be traced back to the top-level BVI holding company, nor will it directly affect the security of your other personal assets.

Attorney Robert Jenkins went on to add, his tone filled with admiration for the legal rigor of this framework:

"The structure is also designed to be extremely flexible and efficient in terms of the flow of funds."

You can inject funds from a BVI company as capital into a Hong Kong Island company to meet its operational and investment needs.

After an investment yields profits, the profits can be paid from the Hong Kong Island company to the BVI company in the form of 'management fees,' 'professional service fees,' 'royalties,' or simply 'dividends,' provided that the arm's length principle is followed.

Since the BVI is basically tax-free, the profits accumulated in BVI companies can achieve near-zero tax burden and compound growth.

In the future, if you need to access funds for personal consumption, reinvestment, or any other purpose, you can flexibly transfer funds from the BVI company to your personal account anywhere in the world. The process is relatively private and not subject to the cumbersome foreign exchange controls of certain regions.

Yang Guangming listened attentively, comparing his own understanding with the information he had gathered.

The explanations of these two experts almost perfectly match his plan based on future knowledge. In some details, such as the response to economic substance law and the grasp of the arm's length principle, they provide more professional legal and tax basis that is more in line with the current era, making the framework more complete and operable.

"So, what are the operational complexities of implementing such an architecture, as well as the annual costs of initial setup and subsequent maintenance?" Yang Guangming asked a very practical question.

“The operation is already very mature,” David Chen replied.

"There are numerous professional registration agents and company secretarial service companies worldwide that can efficiently and confidentially complete the registration, document preparation, and subsequent annual filing for BVI and Hong Kong Island companies."

Regarding opening a bank account, since there's a Hong Kong company as the entity, a clear business plan, and a partnership with Goldman Sachs, although the review process is stricter than for individual accounts, there's nothing to worry about.

He paused for a moment, then gave a rough figure: "In terms of costs, the initial registration fee and first year's service fee, plus lawyer and consulting fees, are estimated to be in the tens of thousands of dollars."

The annual basic maintenance fees, including registered address, company secretary, annual reports, etc., amount to tens of thousands of US dollars for both companies combined.

Considering your planned budget of tens of millions of dollars and the potential tax savings, risk mitigation, and operational convenience it offers, this is undoubtedly a perfectly acceptable and highly cost-effective expenditure.

"I understand."

After a moment's thought, Yang Guangming showed a satisfied expression and made a decision, "Thank you both for such a thorough analysis."

I believe that this three-tiered structure of 'BVI-Hong Kong Island-USA' is indeed a perfect fit for my current and foreseeable future needs.

Next, I'm afraid I'll need to trouble you two and Goldman Sachs to recommend some reputable and well-regulated professional service providers in both the British Virgin Islands and Hong Kong to help me complete the setup of this architecture efficiently and confidentially.

“Of course, it’s our duty.” David Chen immediately agreed, and Robert Jenkins nodded in agreement.

"We will compile a detailed plan as soon as possible, including a list of recommended service providers, their contact information, a general fee schedule, and a preliminary timeline, and then forward it to you through Mr. Weinberg."

"Thank you both very much for your valuable time and professional support."

After seeing off the Goldman Sachs expert team, Yang Guangming remained alone in the conference room, lost in thought.

Now, he needs to formally submit this plan, endorsed by Goldman Sachs' professional advice, to the organization and apply for approval to travel to Hong Kong Island to personally oversee the core matters of company registration and initial setup.

Back in his dormitory, he sat down at his desk again, spread out some writing paper, took a deep breath, and began to write a report for Counselor Liu.

This time, he focused on the need for tax avoidance and the convenience and rigor of business operations.

In his report, he reiterated at the outset the importance of establishing stable partnerships with world-class investment banks like Goldman Sachs for his personal investment philosophy and for accumulating experience in international financial operations. He explicitly pointed out that Goldman Sachs has strict requirements regarding the compliance, professionalism, and structural rationality of its clients.

He then cited the professional opinions of Goldman Sachs' senior tax director and legal partners, and, in an objective third-party tone, elaborated on the numerous drawbacks and potential risks of making large-scale cross-border investments in an individual capacity in terms of taxation (high progressive taxes, withholding taxes), law (unlimited personal liability, litigation risks), capital flow (restrictions on cross-border remittances, efficiency), and privacy protection.

He then proceeded to explain the necessity and advantages of adopting the internationally accepted structure of "offshore holding (BVI) + Hong Kong Island operation," emphasizing that this was not intended to evade legitimate tax obligations.

Instead, it involves scientific tax planning, effective risk isolation, and standard business practices of modern asset management, all within the framework of legality and compliance.

His ultimate goal is to better protect, manage, and increase the assets he owns within the organization that are clearly attributable to him personally, laying a solid foundation for creating greater value in the future.

He specifically pointed out the crucial role of Hong Kong Island as the operations center in this framework.

Hong Kong Island serves as an important bridge connecting the mainland and the world, aligns with the country's reform and opening-up strategy, and its legal environment and financial system are highly recognized internationally, which is conducive to building a trustworthy business image.

Then, he made a specific request: in order to successfully complete the construction of this structure, which is crucial to the company's future operations, and to ensure the quality and efficiency of the initial team building and business launch, he needs to personally travel to Hong Kong for a period of time, approximately one month.

This is to handle key matters such as signing legal documents for company registration, interviewing and reviewing bank account openings, conducting on-site inspections and leasing of office space, and final interviewing and hiring of initial core team members.

At the end of his report, he solemnly wrote: "Given that this matter involves professional financial operations and cross-border legal affairs, and is closely related to the effective management of personal assets and the implementation of investment plans, I earnestly request the organization to approve my trip to Hong Kong Island based on the principle of supporting my personal investment exploration in the past."

I pledge that during my stay in Hong Kong I will strictly abide by foreign affairs discipline, and all my actions will focus on my studies and legitimate business dealings that have been approved. I will never participate in any political or social activities that are inconsistent with my status, I will pay attention to my words and deeds, uphold the image of the country, and regularly report my itinerary and major progress to the Liaison Office through secure channels.

We earnestly request the organization to review and approve this.

He carefully sealed the report, feeling calm and confident.

The following day, he traveled by car to the San Francisco liaison office again.

This time, when he met Counselor Liu, Yang Guangming was more composed and determined.

He presented the report and, in concise and clear language, reiterated the necessity of registering a company and going to Hong Kong, emphasizing in particular the authority of Goldman Sachs' professional advice and the universality of international business practices.

Counselor Liu took the report and read it very carefully.

His brow furrowed slightly at times when he saw complex financial terminology, and relaxed at other times when he spoke clearly and logically and with a proactive and candid attitude.

He wasn't entirely familiar with the concepts mentioned in the report, such as BVI, offshore structures, and tax neutrality, but he could clearly grasp several key points:

This is a necessary step in cooperation between Yangguangming and top international institutions like Goldman Sachs, in accordance with international practice. The purpose is to operate the huge sum of money that has been approved by the organization in a more standardized, efficient, and secure manner, avoiding unnecessary risks and losses. The plan was recommended by an authoritative third-party institution like Goldman Sachs, and was not Yangguangming's personal whim.

More importantly, Yang Guangming once again demonstrated his respect and trust for the organization by proactively reporting and communicating frankly, laying out all his plans and seeking the organization's opinions and approval.

This consistently cautious attitude made Counselor Liu very satisfied and reassured.

He put down the report, pondered for a moment, and then looked gently at Yang Guangming:
"Comrade Guangming, the proposal you put forward, as well as the professional opinions from Goldman Sachs that you cited, does indeed sound like a prudent consideration from both a business and professional objective perspective."

Since the state has entrusted you with these funds for your personal use and permitted you to conduct legal investment activities while adhering to regulations, it is only natural and in line with the principles of a market economy to take necessary, internationally accepted measures within reasonable limits to optimize management, control risks, and improve efficiency.

He paused, his tone becoming more serious: "Regarding your application to go to Hong Kong Island to handle relevant business matters, in principle, I agree to your request."

Your previous performance, especially your composure, low profile, and discipline in handling that fund and dealing with Goldman Sachs, has been observed by the organization and leadership, who have a basic level of trust in you. However…

Counselor Liu raised his voice slightly, his gaze sharp, "I must emphasize discipline again! This is the bottom line, and we must never let our guard down!"

"Please give your instructions, Counselor Liu." Yang Guangming said solemnly.

"First, the purpose of this trip must be purely to handle the company registration and business affairs mentioned in your report. You must not participate in any activities unrelated to this, especially political activities, and you must not contact sensitive individuals or make inappropriate remarks."

Secondly, while in Hong Kong, you must always pay attention to your personal safety and property security, keep a low profile, and be cautious in your words and actions.

The situation on Hong Kong Island is complex, with various forces intertwined; avoid getting involved in any unnecessary trouble.

Third, maintain open communication channels and regularly report your general situation, itinerary, and major developments to the liaison office through secure channels.

If you encounter any emergencies, difficult decisions, or feel that something is amiss, you must promptly seek instructions and report to your superiors; do not act without authorization.

Fourth, you must return to Stanford on time and not delay your studies.

Your fundamental identity is still that of a student, and academic research is your primary task.

Please remember these points and always keep them in mind.

Counselor Liu looked at Yang Guangming with a serious expression, as if he wanted to etch these words into his heart.

"Please rest assured, organization! I guarantee with my Party spirit that I will resolutely abide by all the disciplinary requirements you have put forward, and I will never do anything that would harm the national interests, dishonor my personal identity, or betray the trust of the organization! I guarantee that I will successfully complete the work task and return to school on time!" Yang Guangming made a firm promise, his eyes clear and resolute.

"Okay. I'm relieved to see your attitude."

Counselor Liu smiled with satisfaction. "I will submit your report and my preliminary opinions to the leadership together and go through a fast-track approval process."

I expect to receive official approval within two or three days. Go back and prepare accordingly. I'll let you know as soon as I get a response.

"Thank you for your understanding and support, Counselor Liu!" Yang Guangming felt a huge weight lifted off his shoulders.

Things went even better than he expected.

The organization's overall perspective, pragmatism, and appreciation and trust in talent cleared away the biggest systemic obstacle in his plan.

Upon leaving the liaison office, Yang Guangming immediately began preparations on two fronts, noticeably accelerating his pace.

On the one hand, he contacted two of the recommended companies sent by David Chen, which were reputable professional secretarial service companies and consulting agencies in the field of BVI and Hong Kong Island company registration.

He began to handle the registration of BVI and Hong Kong companies, preparing and filling out relevant application forms, shareholder and director information declarations, and other documents in advance, and understanding the general process of notarization and authentication required.

He chose an agency that seemed to be the most efficient and had the best confidentiality rating as his main partner.

On the other hand, he officially launched the recruitment plan.

His future business empire cannot be built by him alone. He needs helpers, a lean, loyal, and professional team that can perfectly execute his will to handle the daily complexities of operations and external communication and coordination.

He contacted several well-known headhunting firms in Silicon Valley and San Francisco, clearly stating his recruitment needs: two president assistants, one in charge of international business and the other in the Asia-Pacific region.

He had a very clear understanding of the positioning and requirements for these two positions, which were clearly stated in the job descriptions.

He wanted a financial industry elite with a strong American background and familiarity with the rules of the game on Wall Street to be the president's assistant in charge of international business.

Ideally, the candidate should have experience working in the core departments of a large investment bank, possess strong execution capabilities, risk control awareness, and a wide network of contacts. They should be able to accurately understand and efficiently implement the investment instructions and maintain smooth daily communication with institutions such as Goldman Sachs.

Ideally, the candidate should be between 35 and 45 years old, in their prime, experienced, and psychologically mature and stable.

The president's assistant in charge of Asia-Pacific business needs to be a Chinese elite who is familiar with Hong Kong and the Asian market, and has both an international perspective and in-depth local experience.

Must possess work experience in mainstream financial institutions in Hong Kong Island, and have a deep understanding of the differences between Eastern and Western cultures and business rules, so as to be able to act as his representative in the Hong Kong Island company in the future, responsible for communication and coordination with business partners, regulatory agencies and service providers in the Asian region, as well as investment research and analysis in some Asia-Pacific markets.

After the job posting was published through a headhunter, it quickly received a flood of resumes thanks to its highly competitive salary and benefits and its partnership with Goldman Sachs.

Yang Guangming conducted an initial screening and then arranged multiple rounds of intensive interviews.

Among the many applicants, some were inexperienced, some were flamboyant, and some were mediocre, two candidates quickly stood out and attracted Yang Guangming's special attention.

The first one was named Andrew Miller, 42 years old, a white American.

His resume is a classic Wall Street template: he graduated with a bachelor’s degree in economics from Princeton University, started his career as a trading assistant in the fixed income department of Goldman Sachs in New York, then moved to the institutional equity sales department of Morgan Stanley, where he accumulated a large number of institutional clients. Later, he joined Odyssey Capital, a medium-sized but high-performing hedge fund, as a senior portfolio manager, responsible for global technology stocks and event-driven strategies, with a track record of outperforming the benchmark index for five consecutive years.

His background check and recommendation letters praised him for "possessing top-tier execution skills and a strong sense of risk control on Wall Street," "having a keen intuition for market fluctuations, but being even better at translating macro strategies or fund managers' abstract ideas into concrete, actionable trading instructions with optimized risk-reward ratios," and "having a wide network of contacts, especially close and harmonious relationships with the trading desks and block trading departments of major investment banks."

During the interview, Andrew Miller impressed Yang Guangming as being calm, capable, and pragmatic in his speech.

He answered questions clearly and logically, without exaggeration.

In response to Yang Guangming's investment ideas or assumptions during the interview that were ahead of the general market consensus and somewhat forward-looking, Andrew would, based on his extensive market experience, point out some challenges and risks that might be encountered in actual operation.

Furthermore, his focus remained consistently on: "If we are to implement this idea, what aspects of data analysis do I need to conduct, how do I design the trading structure to control downside risk, and which liquidity-rich tools and brokers should I choose to execute it?"

He may not be the kind of genius who can come up with groundbreaking original strategies, but he is definitely the kind of top executor and risk manager who can perfectly, efficiently, and safely implement the ideas of geniuses or prophets.

This is precisely the quality that Sunshine needs to rely on most at this stage.

The second applicant was named Leung Po-tao, 38 years old, who held a Hong Kong Island identity card.

After graduating from the Department of Economics and Finance at the University of Hong Kong, a prestigious local university on Hong Kong Island, he joined HSBC through the Management Trainee Program and stayed there for eight years, rotating through corporate credit, global markets and private banking departments. He gained a thorough understanding of Hong Kong Island's banking system, regulatory environment and business network.

Later, in search of a more international development platform, he went to New York, USA, and worked in the cross-border investment department of Citibank for two years, specializing in serving Asian ultra-high-net-worth clients and some institutional clients, assisting them in investing in US stocks and global bonds. As a result, he is also very familiar with the operating model of the US market and the needs of clients.

I recently returned to Hong Kong Island from New York for family reasons and am looking for new career opportunities.

He is fluent in English, Cantonese and Mandarin, and has excellent communication skills.

During the interview, Liang Botao demonstrated shrewdness, competence, and quick thinking, while also displaying the prudence, thoughtfulness, and keen insight into human relationships characteristic of Easterners.

When introducing his past cases, he not only talked about his successful experiences, but also frankly analyzed the difficulties he encountered and how he solved them, demonstrating strong practical skills and adaptability.

Almost as soon as the interview ended, Yang Guangming had already decided in his heart that these two candidates were his best choices at the moment.

Andrew can be based in the United States, responsible for in-depth communication with Wall Street institutions such as Goldman Sachs and investment execution in European and American markets; while Liang Botao can be based in Hong Kong Island, responsible for building the Asian team and handling Asia-Pacific affairs.

He quickly sent out job offers to the two through headhunters, offering salaries far above the market average, as well as highly attractive incentives closely linked to the company's long-term performance and their individual performance.

After receiving the offers, both Andrew and Liang Botao accepted the invitations.

Yang Guangming's maturity beyond his years during the interview, his remarkable insight into certain areas of the global financial market, and the new company's upcoming deep cooperation with Goldman Sachs and its strong financial strength all filled them with anticipation and professional passion for participating in building this brand-new, high-potential investment platform.

With the personnel assigned, Yang Guangming immediately made arrangements for the division of labor.

Andrew Miller was assigned to remain in San Francisco temporarily to familiarize himself with the Stanford area and immediately begin coordinating with Goldman Sachs on preliminary account setup, agreement review, and preparations for future fund transfers.

Liang Botao was directly dispatched to Hong Kong by Yang Guangming to pave the way.

His task was to use the $500,000 in start-up capital that Yang Guangming had transferred in advance through an intermediary to find and rent a suitable office space in Hong Kong’s core business district that could reflect the company’s professional image.

At the same time, we began to proactively follow up and advance the preliminary application process for company registration on Hong Kong Island, liaising with recommended service companies; and we started to look for and conduct preliminary screening of local employees for general positions.

Leung Pak-tao truly lives up to his reputation as a local expert in Hong Kong; he is extremely familiar with the local business environment and works with exceptional efficiency.

He would report the progress to Yang Guangming almost every day via overseas phone.

In just a few days, he identified three or four unique office options in top office buildings such as Alexandra House and Prince's House in Central, Hong Kong Island, and Pacific Place in Admiralty. He then sent detailed floor plans, photos, rental quotes, and descriptions of the surrounding environment to Yang Guangming via fax for reference.

At the same time, he has also made initial contact with the Hong Kong Companies Registry and the corporate services departments of several major international banks to understand the latest requirements for registering a Hong Kong company with a BVI company as a shareholder, the list of required documents, the estimated time, and the review standards and procedures for banks to open company accounts.

Everything is progressing rapidly and methodically, like a sophisticated machine starting up.

A few days later, the organization's official approval was successfully issued, clearly agreeing to allow Yang Guangming to go to Hong Kong Island to handle matters related to his personal business investments, with the time limit controlled within one month, and reiterating the requirements of foreign affairs discipline.

Yang Guangming then asked his mentor, Professor Hoffman, for leave, explaining that he needed a considerable amount of time to handle some important personal business investments and company establishment matters.

Professor Hoffman had heard something about his brilliant student's recent "business success."

Stanford University itself strongly encourages and supports students in technological innovation and business practice, so Professor Hoffman readily approved his vacation.

I simply gently reminded him not to stay away from academic research for too long, and hoped that he would settle his personal affairs as soon as possible and return to academic research, which has more long-term value.

On a clear morning in early April 1979, San Francisco International Airport was shrouded in a thin layer of morning mist.

With only a few personal belongings and important documents, Yang Ming passed through security and customs and boarded a Pan Am flight from San Francisco to Hong Kong Island.

Sitting by the window, with his seatbelt fastened, he listened to the deep, powerful roar of the plane's engines as they started, watching the airport buildings and city skylines gradually recede into the distance, growing smaller and smaller, his heart filled with anticipation.

Hong Kong Island, the Pearl of the Orient poised for economic take-off in the 1980s, was not only a key element in his meticulously designed business structure, but also the ideal location in his plan to handle the "gold and pearl" of space.

The free port policy, developed financial system, dense jewelry and gold trading market, and strong protection of private property provided fertile ground for the quiet monetization of that batch of gold and pearls.

The trip to Hong Kong Island was ostensibly for the formal establishment and setup of "Qiming Capital".

"Qiming Capital" is the company name he chose.

Secretly, he finally had the opportunity to openly travel to Hong Kong Island, where his real purpose was to quickly convert the gold and pearls into cash.

The plane broke through the clouds and flew towards the vast western coast of the Pacific Ocean. (End of Chapter)