Those Years When I Was Forced to Top the Forbes List

Chapter 173 I'm Talking About America
At 2:30 pm, two meetings were held.

Meetings are being held in both the Yangtze River Hall and the Yellow River Hall.

The Yangtze River Hall hosts the Securities Market Summit, while the Yellow River Hall hosts the China Futures International Cooperation and Development Summit.

Life in the business community in Shanghai is quite different from that in Shenzhen. Both are busy, but people in Shenzhen are busy working hard, while here there are many more gatherings, circles, and ideological debates.

To put it another way, Shenzhen is a key area for utilizing economic resources, while Shanghai is the center for allocating economic resources.

Chen Xuebing listened to a group of experts sitting on the stage in the Yangtze River Hall, engaging in a semi-open debate and absorbing their insights.

In such meetings, everyone has limited speaking time, and everyone is just picking out the essential points to share.

Overseas financing services, IPOs, trusts—these unique perspectives and cutting-edge resources are not available online or in books.

After his rebirth, his thinking underwent a significant generational shift. He now knows many things that are currently unavailable. Exposing himself to cutting-edge information of this era will help him to make good use of his foresight and stay ahead of the curve.

Extensive information can also help him recall many things, including some ambiguous and half-understood aspects of his past life.

He was also very busy, flipping through the documents that Zhang Yuzhong had rushed back to the company to get while sending text messages to his own people.

On the other end of the phone, Attorney Wei, along with the compliance and risk control department of Changzheng Capital, helped him review information on several of Xin Mengzhen's rival companies.

He received the final answer near the end of the meeting.

"You guys are lucky."

Chen Xuebing chuckled softly. Xin Mengzhen, who was taking meeting notes, looked over, and Zhang Yuzhong also leaned closer.

He pointed to several company names written in his notebook.

Two of them were circled.

Harvest Fund Management, Dingyuan Investment.

“Harvest Fund is your main competitor, with a share of 1000 million, and Dingyuan Fund also got 600 million. If these two are eliminated, how much will you get?”

"Harvest Fund Management?" Zhang Yuzhong couldn't help but ask in surprise, "Harvest Fund Management is one of the ten earliest established fund management companies in China, just like Bosera Asset Management... You have access to Harvest Fund Management?"

Another company, Dingyuan, is relatively unknown, but Harvest is a behemoth on par with Bosera.

To put it in perspective, the "Bosera Value New Growth" fund, which manages a total of 9.8 million yuan, is just one of the six funds under the head office. The highest-ranking leader they can contact is President Lu of the Shanghai branch, while the real big shots are all in the head office in Beijing.

Chen Xuebing gave a half-smile.

"It's just a small business, why bother contacting Harvest Fund? Wouldn't it be better to let them be forced out of the market?"

“Passive…” Zhang Yuzhong glanced cautiously in the direction of Guo Guangchang in the front row: “Passive elimination… isn’t there no way to win now?”

"Both of these companies have foreign investment backgrounds."

Chen Xuebing didn't bother with suspense: "Harvest Fund introduced a foreign shareholder, Deutsche Asset Management, this year, and it is now a Sino-foreign joint venture. There are also Americans on the list of major shareholders of Dingyuan Investment."

Upon hearing this, Xin Mengzhen, who had been quiet all along, finally asked in confusion, "Isn't foreign investment acceptable?"

“Bingo.” Chen Xuebing’s tone was noticeably gentler when he explained to Xin Mengzhen.
"There is a document at the end of this year called Document No. 28, which is expected to be released before New Year's Day. It is called the 'Measures for the Administration of Strategic Investments in Listed Companies by Foreign Investors.' Article 5, Paragraph 2 stipulates that shares of listed companies acquired by foreign investors shall not be transferred within three years. Your investment is scheduled for March, which is exactly within the time frame."

"Oh..." Xin Mengzhen's eyes lit up with hope.

Zhang Yuzhong pondered for a moment and asked, "The release date is before New Year's Day, but what about the implementation date?"

Even a seasoned veteran like him understands one thing:
The law does not apply to past cases.

People in finance are best at exploiting loopholes in time.

"As I said, within the framework, the document will be implemented 30 days after its release, and at most before February."

The evidence that Chen Xuebing had his team find naturally wouldn't have such a loophole.

In addition, he discovered something else through this research.

Foreign capital can now enter domestic funds through legitimate channels.

He hadn't expected that the QFII (Qualified Foreign Institutional Investor) qualification, which would become very popular in later years, had already been established and that the annual quota had reached 100 billion US dollars.

This is the most accessible channel for foreign investment, meaning that the foreign currency he earns overseas can be invested back through funds and can be transferred out and converted into foreign exchange at any time, which opened up his imagination.

However, it only became popular after the quota was completely liberalized in later generations. Now the quota is in the hands of some world-class investment banks, and you have to pull some strings to use it.

Lost in thought for a moment, Zhang Yuzhong asked again:

"Have the boundaries for foreign investment been clearly defined? Can I see the documents?"

Chen Xuebing was surprised that he had thought of this, and a smile of appreciation appeared on his face.

You have some brains.

He had been waiting for this result all afternoon.

"I checked the relevant regulations, and there is no clear definition. However, a little ambiguity is a good thing. If the definition is too clear, it may exclude private placements. You can ask your risk control department for the document. It is in the preliminary information on the State Council's official website. Your legal department should have a copy."

Zhang Yuzhong clicked his tongue and frowned: "But... if the boundaries aren't clearly defined, what if they pretend not to know and insist on getting involved... selling illegally on the expiration date and then shirking responsibility afterwards? There are many such borderline cases... We can't just report them to Nanjing Steel, can we?"

These words finally brought a smile to Chen Xuebing's face.

"What's the point of reporting to Nanjing Iron & Steel? If you want to report, you should report to the China Securities Regulatory Commission (CSRC) and remove them directly from the list of potential investors. Otherwise, you should make it clear to them that they can only sell their shares after three years."

Nanjing Iron & Steel's share reform is scheduled for the second half of next year. Judging from the current situation of share reform, the financial and securities industry is generally optimistic. When Nanjing Iron & Steel undergoes share reform, its stock price is likely to reflect the government's determination to reform listed companies.

It will most likely be higher than it is now.

But three years from now, things might be different.

The stock market is unpredictable, and it's not impossible for a company to go from its peak to being delisted or even facing special treatment (ST) within three years.

Of course, in Chen Xuebing's view, they would definitely make a profit.

06年的投资，09年正好有一波灾后回调的小牛市，从07年的6124，跌到08年1700左右，09年又回调到后来股市著名的基准点——3000点。

It's still much better than the current market price of 1100 points.

But nobody dared to gamble. Gambling would mean losing, because that money would miss the stock market peak.

“Report to the China Securities Regulatory Commission… Mr. Chen, do you have a way?” Seeing Chen Xuebing’s determined expression, Zhang Yuzhong quickly tried to pull him into the car.

Since it's to help his girlfriend, he should definitely go all the way!

If we send them back to ask President Lu for a solution, their contribution will definitely be greatly diminished.

Chen Xuebing didn't speak, but glanced at Xin Mengzhen.

How will you split the commission for this order?

“She gets six and I get four!” Zhang Yuzhong hurriedly interjected.

He had originally planned to wait for the project to be completed before bringing in two of the new recruits he had trained to reduce Xin Meng's commission. But now he has completely given up. With his family background and boyfriend, if Xin Meng really didn't include him, he wouldn't get a single penny.

Seeing the inexplicable smile on Chen Xuebing's face, he decisively changed his words again, saying, "She gets seven points, I get three. I'll tell President Lu when I get back that this time it was mainly her credit."

“Let’s keep it half and half,” Chen Xuebing said with a smile. “When Mengzhen is in the company, you should mentor her when there are any good projects. I think you’re quite smart, so take good care of her. If you don’t want to work in the public fund industry anymore, come to my company after I set up my first fund in Shanghai. I’ll give you a good position.”

Zhang Yuzhong was taken aback, not expecting the other party to have such a high level of understanding. After a quick thought, he nodded emphatically.
"Thank you very much, Mr. Chen!"

The trend of people leaving public funds for private ones is huge now. Salaries are higher, commissions are higher, projects are more lucrative than those in the public sector, and the work is much more enjoyable.

However, there aren't many private equity firms these days; it's a case of too many wolves and too little meat, so it's not easy to get in. Chen Xuebing's company was able to raise so much capital, and he also has connections like Mr. Kan. With this fallback option, he doesn't need to be so cautious.

Xin Mengzhen never expected that the projects and people that had been bothering her would be resolved by Chen Xuebing in just a few words, and that he would become her helper. She realized how different this man was from her in terms of work.

Her unwillingness to admit defeat gradually transformed into admiration.

But on second thought, I felt a little worried.

"You...you're not going to ask President Kan for help, are you? It's not worth it, let's not do it. It's easy to offend people with this kind of thing, and it involves too many favors."

"You really dare to think of having General Manager Kan deliver the whistleblower letter."

Chen Xuebing chuckled and teased her, then said, "Don't worry, I have even more discreet channels that can definitely handle it. When you get back, have your superiors prepare to make contact."

The agency that handled his fund application was located on Beijing Financial Street, less than 200 meters from the China Securities Regulatory Commission. I heard that the shareholders were three rich kids. When Xu Jin introduced it to him, he said that the company had powerful connections in the securities market and that even giants like the Delong Group had approached them. He said that they could handle this small matter within the rules in a day or two.

It only costs a little money.

"Then...shall we go? You didn't eat much at noon, Lin Huixiang should be ready by now."

Xin Mengzhen was once again impressed by Chen Xuebing's performance today. The good student who usually listened attentively in class was now somewhat distracted.

I want to be close to him.

However, the surrounding environment is not suitable for them to be close together.

There are cameras in the back too.

Zhang Yuzhong, who was standing next to him, also became eager: "Where are you going? I'll give you a ride!"

I just wanted to kick Chen Xuebing off the bus.
Chen Xuebing, however, transformed into a model student, addressing the stage: "This is the last speaker, please wait a moment."

On stage, the assistant president of the Bank of China is describing the US financial environment.

"This year, the United States withstood the challenges of hurricanes and soaring oil prices. Growth is projected to slow to 3.7% from 3.8% in 04. Consumer spending remains strong, with the confidence index holding steady at around 106. The US real estate market has reached its peak, with nearly 800 million new and existing homes sold, totaling nearly two trillion US dollars, significantly boosting the financial and economic sectors..."

Experts hinted at the future financial attributes of real estate, which made Chen Xuebing smile slightly.

The lecture didn't last long before get out of class ended.

The crowd rose and dispersed.

Reporters who lacked independent material began looking for last chances to conduct interviews.

A female reporter noticed a particularly young couple in the crowd and thought to herself, "They're all interviewing experts, so I should try to find a unique perspective."

A thought flashed through my mind, and I quickly stopped the boy as they were leaving.

"Hello there!"

When the reporter ran over and saw his face, he realized that it was the young man who had come in with Kan Zhidong and shook hands with Guo Guangchang, which piqued his interest even more.

She was standing not far away when Kan Zhidong introduced Guo Guangchang, and vaguely heard that he was some kind of chairman.

"I'm a reporter from Shanghai's CBN (China Business Network). May I interview you?"

Chen Xuebing paused for a moment, looked at the label on the microphone in her hand, and the cameraman next to him also came over with his equipment. He nodded.

Xin Mengzhen let go of his hand and stood to the side.

But when the camera saw her unbelievably beautiful face, it still captured her in the shot.

"Which company are you from?" the reporter began.

"Chongqing Gu'an Group".

The reporter immediately asked, "What position do you hold?"

Chen Xuebing didn't expect this reporter to be so good at handling things. Thinking that this was also an opportunity to be on camera, he looked at the camera and became more serious.

"Chairman."

The reporter, unsurprised, burst into silvery laughter.

She thought for a moment, unsure of the chairman's competence, and then probed with an open-ended question.

"A very young chairman! Did you find today's meeting fruitful?"

Chen Xuebing was also unfamiliar with industry norms and did not engage in the conversation.

"pretty good."

The reporter hesitated for a moment, then continued to probe: "What part impressed you the most?"

"Hmm... It was something Director Xia said today that really impressed me: A bank president isn't necessarily a financier, nor are department managers within a bank. The real financiers are those who truly lead the development, reform, and innovation of China's financial industry, making breakthroughs, setting an example, and making contributions."

Xia Bin, director of the Financial Research Institute, was one of the organizers of the event, so Chen Xuebing naturally had to be mindful of interpersonal relationships.

This statement perfectly expresses his true feelings.

Private companies can have financiers too!

The reporter laughed: "You blurted that out so easily, it's clear you were really impressed. Could you share your thoughts on the financial viewpoints discussed this afternoon?"

The question became semi-open; all I had to do was talk about what I had learned this afternoon. If I answered well, she would ask more specific questions.

After thinking it over, Chen Xuebing decided that since he was going to become a private financier, he should go big.

"Hmm... Let's talk about the future crises of financial development. Contemporary finance is bidding farewell to the era of management and entering a new era of financial capital. It covers the entire industry through index funds and embeds itself in almost all core industries as a 'universal owner,' objectively promoting larger-scale cross-shareholdings and monopolistic control. Workers and small and medium-sized investors often become a passive link, exacerbating the outsourcing of labor and the pressure on corporate management. When companies have to give up more profits to shareholders, large-scale layoffs and cost-cutting will become common methods, further exacerbating social inequality."

The reporter frowned as he listened.

Why is it all negative?
Index funds...aren't they popular either?
Fortunately, it was just an interview, so I can edit it when I get back, and the first half can still be broadcast.

However, your insights are profound, demonstrating your professional level. You may continue to ask questions.

What are your thoughts on the views expressed by Assistant Zhu, the last expert to speak today?

She was also afraid that Chen Xuebing wouldn't remember what everyone said, so she picked someone who had just spoken.

Chen Xuebing couldn't help but laugh.

A blind cat stumbled upon a dead mouse.

"In real estate finance, the debt ratio is a major problem. If the balance sheet is not reduced in time and leverage continues to expand, the financial crisis will come when the problems erupt in a concentrated manner."

The reporter was stunned.

She was almost too afraid to ask, and tried to salvage the interview.

"Um... is the problem you're referring to an existing problem?"

"Of course," Chen Xuebing said with a smile.

The reporter paused for a moment; she had never seen anyone so stubborn before, and her temper began to flare up.

"Is there any investigation? Can you give specific examples? In which province or city in my country?"

"my country?" Chen Xuebing smiled knowingly. "Of course not my country. Isn't today an international financial conference? I was talking about the United States."

(End of this chapter)