Extraordinary Genius Chapter 664

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Extraordinary GeniusChapter664 – Do these companies qualify?




Liu Chuanzhi’s interruption reminded Liu Yonghao of thepurpose of this meeting. This meeting was to discuss the setting up of MinshengBank. He had forgotten about it after they talk about the Guangcai Program.


“Manager Feng, I did not expect your businesses to be sosuccessful.”


“It’s not very successful. Compared to many multinationcompanies, my businesses are nothing. I am only more diversified.”


“If Manager Feng’s companies are not successful, then whatabout us? You are too humble. Has Chuanzhi spoken to you about Minsheng Bank?What is your view?”


“I can invest in this venture. But I have a question. Whoknows how to manage a bank?” Feng Yu asked him back.


“Feng Yu knows someone very familiar with the bankingindustry. That’s Li Zekai. When he was in Canada, he worked in a bank.


“We do not have to worry about the managing aspect of thebank. The major shareholder should be China Life Insurance Company. We are justinvesting in this venture.”


This was the same as Feng Yu’s previous life. Although itwas a non-government bank, the biggest shareholder was still a state-ownedenterprise. This bank was only a shareholding with more transparencies.


This was also a good thing as Minsheng bank was quitesuccessful in Feng Yu’s previous life. After 1998, this bank grew rapidly. Ofcourse, that was the period when almost all of China’s banks quickly developed.


But there was still an issue that will hinder the growth ofMinsheng Bank. In this era, there were many banking regulations and policiesrestricting the growth of the banks. It includes the Provident fund and housingloans. In the beginning, Minsheng Bank was not allowed to handle these funds,and it restricted the growth of the bank.


If Minsheng Bank was about to operate like the rest of thegovernment’s banks, then the development will be much better.


China Life Insurance will become China’s biggest lifeinsurance company will become the world’s highest-valued insurance company inthe future. The company has lots of funds. With this company as one of theshareholders, Minsheng Bank will have robust financial backing. Next year,China’s will be implemented and will speed up thedevelopment of China’s insurance industry. China Life Insurance’s profits willincrease tremendously.


Combining insurance and banking was a successful modeloverseas. The banks will use the clients’ premiums to give out loans and doinvestments. The returns were used to pay out insurance claims. If there wereno banks, what will the companies do with the premiums? Deposit in banks forinterest?


The Chinese government wants to develop the insuranceindustry and indirectly allowed Minsheng Bank to develop. It was not because ofthese entrepreneurs who set up this bank.


“What is the initial capital for this bank and how manycompanies are needed for this venture? Also, what’s the highest number ofshares we can own?” Feng Yu asked.


It was impossible to get the controlling shares or be themajor shareholder. But Feng Yu could use many companies to invest in this bankand occupy many seats on the board of directors. He will still have influenceover the bank.


Feng Yu does not want to interfere with the bank’soperations, and the government will also not allow this to happen. But he alsodoes not want to let other people do whatever they want with the bank and doesnot listen to his suggestions.


“The initial registered capital is 10 billion RMB, and themost shares we can own is 49%. But there are no regulations that restrict us totrade the shares in the future. There is no restriction on the number ofcompanies, but we wanted at least 10 to 20 companies. This way, we candiversify the risk.” Liu Yonghao explained.


10 billion RMB was nothing to Feng Yu. But it was notworthwhile to invest so much now. Feng Yu could easily take out 10 billion RMBfrom his Russian fund, US fund, and even his own pocket.


But the Chinese current economic conditions and the numberof Minsheng Bank’s compet.i.tors will lower the profitability of the bank.However, if the bank was to operate normally, the risk of losing money was low.


Investing in banks is for the future. If Feng Yu couldbecome Minsheng Bank’s major shareholder, then it will be easier for him tomanage his finances and raise capital. Also, the banking industry was closelyrelated to the Government. Feng Yu will be able to get first-hand news of thegovernment’s policies. This will have a significant impact on investments.


Feng Yu suspects that these businessmen joined this venturewas to know the government’s future plans and direction. This was because thebanking industry was not a profitable industry now. But in the future, if thebank was to be listed and the introduction of wealth management products, itwill be profitable.


“Mr. Liu, can I introduce a few other bosses or companies tojoin in? Can Hong Kong businessmen partic.i.p.ate?” Feng Yu asked.


“Hong Kong businessmen? I’m afraid not. Although Hong Kongis part of China, the current policies are still slightly different. Onecountry, two systems. Also, Hong Kong is not returned to China yet. What if thebusinessman suddenly changes nationality?”


“But our country also have foreign banks.”


“This Minsheng bank is different. China Life Insurancecompany is involved. It cannot be influenced by any foreign funds. It’s fine ifyou want to recommend businessmen or large corporations. But the companies mustbe clean and have enough financial backings. Most importantly, these companiesmust be Chinese companies.”


“Can the companies have Hong Kong shareholders? The majorshareholder is Chinese. Can this be allowed?” Feng Yu asked.


“This is not stated. I will ask and get back to you. Whatare the companies?” Liu Yonghao asked.


“Bing City’s Machinery Company, Wind and Rain Electronics,Aiwa Electronics, Wind and Rain Home Appliances, etc. Also, Lehaha Group, AiwaLittle Tyrant, Tai Hua Trading, Tai Hua Agriculture Products, Tai HuaSupermarket Group, Bing City Pharmaceutical. Wind and Rain Logistics, QuanjudeGroup.”


Liu Yonghao heard the first few companies, and he knew FengYu had shares in these companies. Feng Yu might even have controlling shares.He could tell from the names of the companies. Wind and Rain, Aiwa, Tai Hua,etc. These companies must be related to Feng Yu. But he did not expect therewere so many companies.


Liu Yonghao knew Feng Yu had shares in Bing City’s MachineryCompany. But Lehaha Group and Bing City Pharmaceutical were also related toFeng Yu?


Liu Yonghao admired Lehaha’s Zhong Qingxian for developinghis company. Lehaha had been developing well and had grown to become one ofChina’s top companies. Did Feng Yu have shares in this company or he only knowZhong Qingxian?


Also, Bing City Pharmaceutical was set up just last year.The products it produced were very popular, and it should be very profitable.This company was also related to Feng Yu?


Wait, why did this Feng Yu suggest so many companies? Hewants all these companies to join this venture and then get a seat in the boardof directors?


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Extraordinary Genius Chapter 664

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Extraordinary Genius Chapter 664 summary

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