Reinventing the Millennium

Fang Zhuo met the head of ICBC.

A president who is under pressure and even looks a little haggard.

From ICBC's perspective, it is in urgent need of joint-stock reform after being allowed to divest non-performing assets and obtain foreign exchange capital injection from the state.

From an industry perspective, state-owned banks including China Construction Bank, Bank of China, and Bank of Communications have put aside their historical burdens and seek to go public and build international competitiveness. In particular, China Construction Bank plans to be listed in Xiangjiang in October and is already ahead of the curve.

As for the head of ICBC, President Jiang, he not only saw that ICBC was lagging behind in the industry, but also had to carefully complete the shareholding reform and find suitable partners within the specified time. This made him very stressed.

However, whether it is President Jiang, ICBC, or even the entire banking industry, this transformation is only part of China's integration into WTO economic globalization.

On the morning of the 28th, unlike the communication between Fang Zhuo and Wu Qian, his communication with the head of ICBC was quite direct.

Governor Jiang hopes to have the power to weaken the uncertain risks of the Goldman Sachs consortium.

But because of his identity and the joint-stock reform of ICBC that he presided over, it was inappropriate for him to propose looking for a third party other than Goldman Sachs at this point in time.

In other words, the third party found in this way is just another Goldman Sachs.

Therefore, he hopes that someone like Mr. Fang can step in and take a piece of the pie.

It can not only weaken the influence of the three board seats of the Goldman Sachs consortium, but also rot in the pot.

A long conversation.

Fang Zhuo hesitated.

"Mr. Fang, are you having any difficulties?" Manager Jiang waited for a cup of tea, but when he didn't get a statement, he asked directly.

Fang Zhuo asked about his concerns: "President Jiang, I have two concerns, one big and one small."

President Jiang was a little surprised by such remarks. He looked at Wu Qian and signaled Mr. Fang to continue.

"A big concern is that I have been paying attention to public opinion recently and saw discussions on different views on banking and finance in China Securities Journal and Economic Observer." Fang Zhuo said more euphemistically.

In fact, the degree is by no means limited to "discussion", but accusation and criticism.

For example, China Construction Bank's share reform and listing are faster, which makes everyone question the value of its transferred shares. Is it too low?

ICBC and the Goldman Sachs consortium reached a memorandum of understanding, and the announced cooperation method also attracted such doubts.

In the face of doubts, many foreign investors took action personally. For example, Goldman Sachs had its own economist Hu Zuliu personally take part in the debate to argue for the rationality of the cooperation between ICBC and Goldman Sachs.

In addition to the value, Hu Zuliu also responded to another related question - why are private capital not allowed to participate?

"Does China have private investors with international experience and reputation like HSBC, Citigroup or Goldman Sachs?"

"This kind of cooperation requires a good match."

Fang Zhuo paid attention to public opinion and collected information on the way from south to north. Therefore, one of his major concerns was that it would be inappropriate for a private company like him to come out at this time. Is it too eye-catching?

He took a sip of tea, glanced at President Jiang, and asked: "Is there a rule in this joint-stock reform that private companies are not allowed to enter? Or is there a tacit understanding among everyone?"

President Jiang smiled: "This is all on the surface. There are not so many red tapes. If it were someone else, it would be difficult to say. Mr. Fang is willing to come out. I believe no one can say anything."

He paused and then said: "I heard that Mr. Fang not only has good business management skills, but also has great experience in private equity investment. It is enough to show the investment performance."

The main body of MIGA Fund is private equity, but it also cooperated with Shanghai Pudong Development Bank last year to launch the first batch of domestic public equity funds.

Naturally, it cannot be compared with the famous Goldman Sachs on a global scale, but it is one of the best in China.

Fang Zhuo was silent.

President Jiang continued: "Foreign capital can invest, but private companies cannot? There is no such reason. If anyone really questions it, I will be the first to stand up and respond."

This is what Fang Zhuo wants to hear. If there is any public opinion or dissent at a certain level, someone has to stand up and support it.

Although it is not convenient for you, Mr. Jiang, to publicly call me into the game in your name, but after I join the game, you can no longer remain silent.

He nodded slightly, glanced at Wu Qian again, and showed hesitation again.

Seeing this, Wu Qian said, "Mr. Fang just said there were two concerns. I wonder what this other minor concern is?"

"This is a small concern..." Fang Zhuo replied, "I'm not very familiar with Deutsche Bank."

Wu Qian was stunned, but he didn't expect Mr. Fang to directly point his gun at Zhang Hongli, the middleman who introduced him to him.

"I am very familiar with Mr. Zhang Hongli from Deutsche Bank, but Deutsche Bank is different. I am not sure whether Deutsche Bank's power to lead cooperation has always been in the hands of the Asia-Pacific region." Fang Zhuo said calmly, "The risks that ICBC is worried about have changed. Cheng Deyin, I am not sure about public affairs."

Wu Qian pondered: "Mr. Fang, what do you mean..."

Fang Zhuo did not answer, but asked: "Which level is Goldman Sachs leading this cooperation?"

Wu Qian understood.

The person leading Goldman Sachs' cooperation with ICBC is Paulson, the chairman of Goldman Sachs. He has brought people to China several times to participate in negotiations.

Among them, Goldman Sachs’ Asia-Pacific team belongs to the executive level, not the decision-making level.

There may be a question mark as to how much decision-making power Deutsche Bank's Asia-Pacific region, run by Zhang Hongli, has.

Wu Qian had some friendship with Zhang Hongli, but at this moment, business matters were also his priority. He left Mr. Zhang behind without hesitation and asked, "Without Deutsche Bank, would you be able to find sufficient investment funds?"

Fang Zhuo said calmly: "You can give it a try."

Basically, this is a statement that he has accepted this job of fighting for love.

He added: "It doesn't mean to abandon Deutsche Bank completely, but the amount of funds is open to question, so it is a very good choice to let it support the bank."

Wu Qian has no problem with this.

After listening to these exchanges, President Jiang said decisively: "Okay, Mr. Fang, I'm waiting for your good news. You can come as you see fit. I hope to see your substantive actions by the end of next month at the latest."

He took the initiative to stand up and shake hands, expressing his eager expectation.

Fang Zhuo shook hands with the head of ICBC and said goodbye.

…

Afternoon time.

Fang Zhuo, who was contacting MIGA Fund, received a call from Zhang Hongli.

"Mr. Fang, how's it going? Is it going well?" Zhang Hongli asked.

"It's going smoothly, but there are still a lot of things that need to be discussed." Fang Zhuo replied, "Don't worry, Mr. Zhang, I will never forget your soup when I eat meat."

Zhang Hongli was slightly reassured and said with a smile: "Don't worry, Mr. Fang, I also want to taste the meat."

"Hang up, it's not a good idea." Fang Zhuo joked, "I'm busy, let's talk back."

Zhang Hongli just laughed twice and was about to speak when he heard the beep of the phone hanging up.

That’s fine, act vigorously and resolutely.

Mr. Fang is such a person.

Continue coding until 12 o'clock. If you can't finish coding, I will take time to post a chapter during the day tomorrow.

During the physical examination, my heartbeat was a little fast. The doctor told me to avoid coffee, strong tea, and staying up late...