Guo Chengze asked Feng Zhichu to stop people at the Poli Hotel and asked Chen Huai and Song Hongjun to come to participate in the mobilization meeting of the Donghua delegation. After all, he wanted to confirm that Song Hongjun would attend the next "Hong Kong Huaihai Week" event, and that Shen Huai would not be too "low-key" in the next few days.

Chen Huai and Song Hongjun went to Changqing Hotel at night, and just showed off their faces, chatted with everyone, talked about nonsense, and stabilized people's hearts.

The activities to Hong Kong were arranged in intensively and time was tight, so there were not many opportunities to enjoy the night view of Victoria Bay in Hong Kong. After leaving the Changqing Hotel, Chen Huai specially invited Zhao Tianming, Wang Weicheng, Guo Quan and others to go to the cruise terminal in Victoria Bay to take a yacht to sea.

Zhou Yu went back to her room to rest first. She had to worry about her image in front of outsiders, how could she accompany Chen Huai and the others to go out to sea late at night?

This time it was indeed Xu Pei, Guo Chengze and others who didn’t want the Meigang Group to be too popular. Guo Quan was the company representative this time and had the opportunity to come to Hong Kong.

If you think of Hong Kong, you don’t need provincial organizations. Most people in the Meigang Group can go with you.

The key is that Chen Huai had thought of "low-key" this trip before - since Xu Pei was worried that they would steal the limelight, he simply refused to steal the limelight. Sun Yalin, Sun Qiyi and others did not return to Hong Kong - he did not expect the situation would suddenly become subtle.

Taking a yacht to sea, the sky was vast and everyone sat on the deck of the yacht to drink, and blew the gentle sea breeze that was still gentle in mid-November, Chen Huai talked about the past two days to Song Hongjun, Zhao Tianming, Wang Weicheng and Guo Quan first.

Chen Huai only confirmed last night that Rongxin and Gu's Baohe Group would intervene in the construction of Nanwan Lake New Area. He just knew from Guo Chengze that Vice Premier Zhao Jiahua would come to "support the scene", and he didn't have time to communicate with everyone. The more mysterious details behind it were. Even Song Hongjun knew about the news that was deliberately released on the outside, and he was not clear about Chen Huai's specific plans.

"The Gu family has been delayed for three or four years in the hospital. It has long life. When it is unconscious, it is too much. When it is awake, it is almost Gu Zejun in power now," said Song Hongjun. "The Gu family's old man is devoted to his hometown. After the reform and opening up, he and Huo, Dong, Li and others were the first people to invest in the mainland and actively participate in the United Front Work Affairs of the Federation of Overseas Chinese. Therefore, he served as vice chairman of the National Committee of the Chinese People's Political Consultative Conference for 1988. However, the children of the Gu family may not be as sincere as the old man. The Gu family's health was unable to support the management of company affairs later. The power of the Baohe family was gradually taken over by Gu Zejun and other Gu family's children. The investment in the mainland became conservative and was not so enthusiastic about the United Front Work Affairs of the Federation of Overseas Chinese. However, this financial crisis also made Gu Zejun and others understand that it is not easy to maintain a Qianbian Family, and it is not surprising that such a change is not surprising..."

Although the shipbuilding base invested and built by Baohe Shipping Industry in Donghua is an important pole of Donghua Shipping and Seafaring Industry, Baohe Shipping can only be considered a not-so-important branch of Baohe Shipping. People in Donghua know the origin of the Baohe Shipping Gu family, so naturally they are far less familiar with Song Hongjun, who lives in Hong Kong all year round.

Song Hongjun also explained the details of the branches and vines as much as possible to explain them clearly to everyone.

Although the aftermath of the Asian financial crisis has not yet passed completely, and although the Hong Kong financial market has also suffered heavy losses in this Asian financial crisis, it has finally survived the most difficult dilemma, without collapse, and has entered a recovery period.

The Hong Kong financial market can survive the most difficult difficulties and quickly enter the channel of recovery. The deeper economic and political factors behind it are the deepest experiences of people like Gu Zejun.

The Baohe Group controlled by the Gu family has nearly ten listed companies, which control a huge industrial empire with a total market value of nearly HK$200 billion through complex and cross-equity relationships. However, the foundation of this industrial empire is not absolutely stable. Once there is a big disturbance in the capital market, the entire industrial empire will easily be turbulent.

It’s not that Baohe Group does not want to become more stable, but it is actually related to the inherent nature of the consortium.

Just like the industrial cluster under the Meigang system, if Chen Huai wants to firmly control Meigang under his personal name, the Meigang system will be far from rising so rapidly. Once he wants to continuously absorb external resources and expand rapidly with his partners, even the most tight equity control relationship contains unstable factors.

The minds of partners are always seeking profits and avoiding harm, and they are unstable. Once Chen Huai loses the ability and reputation of a leader, partners such as Berkeley Bank, Wu Family, Siyumins, Feiqi Industrial, etc., and even the Changqing Group of the Sun family, will choose to leave, and it is very likely to cooperate with external competitors who covet Meigang.

It is not easy to maintain a Qianbian Home.

If a small and medium-sized enterprise wants to develop, it can only find and explore market opportunities. For a chaebol group with a total of over 100 billion, it needs to be more proactive and proactive, and cannot wait for the market opportunity to arrive.

There has never been a free market in this world. There must be profound political factors behind larger and deeper market behavior.

The Gu family may not have understood this truth before, but they felt a sense of disdain in their hearts. Therefore, Baohe, who gradually became in power in the past decade, has become conservative in the mainland investment in the seemingly freer Southeast Asia.

Although Baohe Group has survived the Asian financial crisis, it is not surprising that Gu Zejun and others will have more pragmatic choices in the future as long as they can understand the dangers and the political transactions behind them.

However, the Gu family represented by Gu Zejun became more pragmatic, but Chen Huai and the others had a headache.

As for domestic political factions alone, the real soul of the Hu faction is Hu Lin's aunt Hu Ying, and then the former Prime Minister Hu Zhicheng, who stepped down. Hu Lin's father Hu Zhiyuan can only be regarded as a minority in the Hu faction. Vice Premier Zhao Jiahua is the next term of the Hu faction, and basically it is now confirmed that he will join the central team.

Gu Zejun, on behalf of the Gu Jia and Baohe Group, made a pragmatic choice to have a good relationship with the Hu Group and chose to have a good relationship with Vice Premier Zhao Jiahua. With the support of the Hu Group and Zhao Jiahua and others, he cooperated extensively with Cui Weiping and Rongxin Group to enter Xucheng to strive for the dominance of the construction of the Nanwan Lake New Area. For the Meigang Group, it is no good news.

However, Chen Huai did not feel that he chose to stand by and wait for Cui Weiping, Chen Baoqi, Dai Lesheng and others to join forces with Rongxin. The Baohe Group successfully blocked Xu Pei from replacing Zhong Limin as Secretary of the Huaihai Provincial Party Committee, the Meigang Group would gain benefits. After the Hu Group took power in Huaihai, the Meigang Group would be able to live in peace with them and work together to promote local development.

Even though Xu Pei is an ambitious person, not very strong, and even never forgets to restrict Meigang's development, in promoting the local development of Huaihaiwan, between the Jingjing Group and the Hu Group, Chen Huai will still choose to cooperate with the Jingjing Group and Xu Pei in a limited manner.

"Although Xu Pei has not talked to me directly, setting up a provincial state-owned assets management company and gradually promoting the inclusion of provincial state-owned operating assets is not a difficult choice for Xu Pei. Perhaps the most controversial thing is that the first step is to put those operating assets into it to be just right?"

"In addition to Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Rongtou, Xinyuanye, and Dongjiang Real Estate," Song Hongjun asked, "What other provincial state-owned assets enterprises can be incorporated into provincial state-owned assets management companies?"

Chen Huai said: "Sun Fujing did not come to Hong Kong this time, and I did not have the opportunity to talk to him; and whether the establishment of the provincial state-owned assets management company and the internal supervision model are completely followed by the Temasek model will also be very controversial in the province, so many things are difficult to say very much now..."

Although the direction of state-owned enterprise reform is to achieve a modern enterprise management system with separation of government and enterprises, clear property rights and clear rights and responsibilities, during the restructuring process, the separation of provincial state-owned enterprises and the former competent departments is not achieved in one step.

Take the expressway group as an example. In fact, it is still within the jurisdiction system of the Department of Transportation. The source of the construction funds for the expressway group is mainly the financial withdrawal of transportation infrastructure; the Provincial Power Group goes down to the local government and the Electric Power Administration system, and there is no modern enterprise system; the Supply and Marketing Corporation has not yet been revoked, so the control of Huai Shang Group cannot be completely transferred to the Provincial State-owned Assets Office; and the Traditional Chinese Medicine Research and Pharmaceutical Corporation under the Department of Health, the Provincial State-owned Assets Office currently has no way to completely separate these enterprises and institutions from the competent departments. Therefore, the first step in establishing the Provincial State-owned Assets Management Company is to concentrate the relatively successful divestiture and restructuring of enterprises for unified management.

In addition to Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Rongtou, Xinyuanye, and Dongjiang Real Estate, the most urgent thing that Chen Huai currently hopes is that Huai Coal Group can enter the provincial state-owned assets management company system for coordinated development, which will be of great benefit to the future development of Huai Coal and Huai Coal and East-Export.

Chen Huai said to Song Hongjun again:

"In addition to technology introduction and cooperation, the restructuring and reorganization of provincial state-owned enterprises still requires large capital participation. In the future, the eyes that want to find our loopholes will be more and more thief. Hongji, Zhongxin and Changqing's capital will still mainly participate in the existing industrial development of Meigang. If possible, I hope that Hong Kong can have more industrial investment funds similar to Hongji and Zhongxin, but with a lower degree of correlation, can participate in the reshaping of the provincial state-owned assets system. Do you have any suitable recommendation candidates?"

In the past, Meigang developed and rose from scratch. Sun Yalin and Song Hongjun were both participants and builders of Meigang's rise. It is natural that they gain huge benefits from it.

What Chen Huai has to do now is to develop a clearer development context for state-owned operating assets with state-owned assets worth over 100 billion yuan. At this time, Sun Yalin and Song Hongjun's companies will participate deeply and have to make a choice.

Chen Huai currently only advocates that the Meigang Group directly participates in some asset liquidation clear, and that during the restructuring process, China has asset-added enterprises with value-added value.

For example, in the reform of the Provincial Automobile Corporation, the previous audit of the net assets of less than 600 million yuan. After the split and reorganization of Dongshi Group and Xinyuanye, the asset value of state-owned equity expanded to 1.1 billion yuan, and the profit situation suddenly changed. Although the Meigang Group actively participated and made profits from it, others could not say anything.

Some state-owned assets, based on net assets, even have to depreciate before they can be reorganized and reorganized. The Meigang system must avoid it and cannot ask the opponent to seize the attack.

One of the main purpose of the establishment of Dongjiang Real Estate is to concentrate the idle land in the hands of provincial state-owned enterprises and replaced land after the factory relocation for development, so as to promote the industrial upgrading of provincial state-owned enterprises and the old city renovation of Xucheng City.

New partners need to be introduced during the development of these lands, but since these lands have not been operated by market operations, their value assessment is a "quasi-black box" operation. In order to avoid opponents from grabbing the handle, the Meigang Group can only avoid these cooperative projects.

However, Chen Huai still does not want to passively find partners and attract investment for these cooperation projects. The promotion of the establishment of a new industrial investment fund that is not directly related to Song Hongjun, Sun Yalin and others and Changqing Group will allow Chen Huai to take greater initiative in his hands.

"Does the newly established ones count, or do those that have not yet been established? " Song Hongjun asked.

"A few of your subordinates want to come out to form a partner company?" Chen Huai asked with a smile.

"This is the case in Hong Kong's financial industry. No one is willing to be a young man for the rest of his life, but it is not right to force them to stop them from making a move," Song Hongjun sighed in a relaxed tone, "Hongji has several management teams, with good qualifications and understanding, and has accumulated some resources to go solo. If I can help them at this time, it will be considered as having some love."

In the final analysis, industrial investment-oriented private equity fund companies do not use their own capital for investment and development, but gather other small and medium-sized investors. The capital and power of investment institutions for industrial investment are difficult to expand without limit.

Hongji's industrial investment funds have now grown to a scale of US$2 billion, which is already a leader in the industry. When the scale is expanded, investment efficiency and rate of return may decline sharply, and management complexity and risk will increase significantly, which will also reduce its attractiveness to investors.

At the same time, as a privately issued fund, the scope of capital raised is limited. Once the attractiveness to investors within a specific range decreases, the fund's capital scale will naturally double when it wants to further expand; at this time, it becomes inevitable to split the branches and leaves.

Instead of suppressing the ambition and desire of its managers to go solo, it is better to provide resources to help these people establish new independent investment funds, which is more conducive to promoting the expansion of Hongji's influence. On the surface, the Meigang Group also has direct economic connections with them, but these investment funds can still be regarded as the periphery of the Meigang Group.

Chen Huai knew that those who Song Hongjun wanted to provide resources to help must be what he valued. Those who spread the branches and leaves were good for expanding Hongji and expanding the influence of the Mei Steel System. He nodded and said, "I will stay in Hong Kong for seven days this time, and I have time to meet more people. As long as the investment fund they established can determine the main investment direction in Huaihai Bay, the provincial state-owned assets can even participate in the name of Huaihai Rongtou..."

The mainland has not yet opened up its opening for private equity funds. The Huaihaiwan government construction fund is only a specific fund initiator of provincial, municipal, district and county governments, but there is no way to expand the scope of capital fundraising in the mainland. However, in the capital market in Hong Kong, private equity funds are developing relatively maturely.

Shenhuai plans to directly participate in the provincial state-owned assets, and also intends to use provincial state-owned enterprises such as Huaihai Rongtou as one of the initiators to invest in companies and investors in Hong Kong to form partners or joint venture private equity fund management companies. However, they raise larger scale of industrial capital in Hong Kong and then return to Huaihai Bay to participate in various industrial investments.

After all, Chen Huai still wants to use less capital investment as an introduction and use capital leverage to leverage or attract more industrial capital to participate in Huaihai's local development and construction. Compared with direct investment promotion, this method is more proactive and can promote the development of state-owned enterprises or private enterprises in Huaihai.

The Gu Jiabao and the Group cooperated with Rongxin to strive for the dominance of the construction of the Nanwan Lake New District, which is only their first step. The total market value of the listed companies controlled by the Baohe Group in Hong Kong is nearly 200 billion yuan, and the capital it can leverage is far more than 10 billion yuan. I don’t want to tell them to steal it all, Meigang and the provincial state-owned assets have to do.

"Yu Wei wants to stick to you with her shirtlessness. Why do you ignore others?" Song Hongjun asked Chen Huai again.

Song Hongjun's words did not have much ambiguous meaning, but Zhao Tianming, Wang Weicheng, and Guo Quan couldn't help but laugh.

Chen Huai shook his head and sighed, and said helplessly: "The Gu family's old man has not yet died. Yu Wei wants to use us to get rid of the Gu family's control. How could it be so easy? I can't bear her enthusiasm..."

The Gu family holds a total of about 25% of the equity in Baohe Shipping Industry. In addition to the 15% equity in the name of the youngest son born to Yu Wei when the Gu family was awake, the top-level holding institution of the Baohe Group, which is also an existence of similar nature to the Sun Family Fund, Baohe Trust also holds 10% of the equity in Baohe Shipping Industry.

As the guardian of her son, Yu Wei has controlled Baohe Shipping Industry with 15% of the shares, and her status is far from being stable.

At present, first, the Gu family has not left, and second, the performance of Baohe Shipping Industry is still stable, so Yu Wei's position in Baohe Shipping Industry is still stable.

Once the Gu family's old man left the world, Gu Zejun, the head of the Gu family who controls Baohe Trust, joined hands with other shareholders to expel Yu Wei from the board of directors of Baohe Shipping.

Except for Daizi, Yu Wei has no ability to change the structure of other shareholders, except for Daizi, who has control over 15% of Baohe Shipping Industry. If she wants to completely get rid of Gu's control and independently control Baohe Shipping Industry, she must fundamentally change the existing shareholder structure of Baohe Shipping Industry to ensure that the shareholders who ultimately support her will hold more than 50% of the shares she holds.
Chapter completed!