Chapter 94 Visit to Liu Chong Hing Bank

On January 1, Yang Wendong and Wei Zetao went to the Liao Chong Hing Bank branch in Tsim Sha Tsui, which was the bank where Yang Wendong had opened an account.

Last time I got up early and walked here, but this time it was naturally not possible with Wei Zetao, so I specially booked a taxi the night before.

After arriving at the intersection next to the bank, the two got out of the taxi.

Wei Zetao smiled and said, "Mr. Yang, the building where the Liao Chong Hing Bank is located has an underground garage, but taxis are not allowed to enter, so we can only go through the main entrance."

Yang Wendong nodded and said, "This is a good way to screen big customers. Just see if they have a car."

In any era, banks or similar financial or insurance departments will screen their customers, and even the entire society will do so.

In places with many cars, people will naturally select luxury cars such as BBA, Rolls-Royce and Bentley. In places with few cars, any car is the best evidence to judge a person's financial resources.

Wei Zetao nodded: "Yes, if you don't even have a car, most Chinese banks won't take such customers seriously. But I have already told the people at Liao Chong Hing Bank about Mr. Yang's situation, and they still take it seriously."

"That's good." Yang Wendong smiled and said, "As long as we wait for a while, the car will not be a big deal to us."

It’s not that we absolutely cannot afford a car now, but the company is spending money everywhere, so it is not necessary for the time being. We just need to wait a little longer. When the factory’s production capacity is expanded, both the sticky mouse boards and the sticky notes can bring huge wealth to the company.

Wei Zetao smiled and said, "Yes, we are now in the initial stage of development. As long as this step is successful, the rest will be much better."

"Let's go inside." Yang Wendong said with a faint smile: "If we succeed, everyone will enjoy endless wealth and glory in the future."

In his previous life, some "public intellectuals" on the Internet often brainwashed people about how super-rich people started from scratch and were frugal. When he was young, Yang Wendong thought such people were good;

But later, after I became a little rich, even though my net worth is still not one thousandth of those super rich people, I still have to complain: 213.

If you make so much money, wouldn’t it be shameful not to enjoy it? Then what is the purpose of making money?
Of course, when I was a little older, I realized that those “public intellectuals” might be talking nonsense, or they themselves didn’t know that those so-called “thrifty” super-rich might just be superficial propaganda.

Or maybe it’s just because of different hobbies. You don’t have to buy a good car, maybe because you are not interested, but you must go to Loli Island...

Wei Zetao nodded and said, "This day will come soon."

"Well... maybe I will be a good person," Yang Wendong said with a smile, "but I will never treat myself badly."

He earns enough money to enjoy himself and help a large number of people get jobs and escape poverty, killing two birds with one stone. Naturally, there is no need for him to learn from Walton or Zuckerberg.

Zhao Shizeng in Hong Kong history, Liu is the one who lived his own life
Wei Zetao said with a smile: "Mr. Yang is so young, he should enjoy his success. If I were a dozen years younger, I would probably do the same."

"Haha, you are still in your prime." Yang Wendong said with a smile.

As the two walked and talked, their private relationship became closer. Even though he was the boss, at least at this time, he needed to rely on strong and capable subordinates, so naturally he didn't put on airs.

Besides, it’s so tiring to put on airs in front of people around you every day. Work is work and life is life. When you are not working, it won’t hurt to have a better relationship with your subordinates.

Soon, the two arrived at the main entrance of the bank.

Yang Wendong glanced at the people still queuing and said, "There are so many people depositing money here. I remember it was the same when I came here half a year ago."

Wei Zetao nodded and said, "Yes, since last year, Hong Kong's housing prices have begun to recover, and industrial exports have also increased significantly, and the market demand for loans is also increasing.

In order to attract deposits, various banks used various means, but the most extreme one was the Liao Chong Hing Bank, which offered a policy of opening a small account of only 100 yuan and a high interest rate. It is said that it attracted tens of millions of deposits in one year, which is probably only slightly less than those British banks in Hong Kong.

I heard that the Hong Kong banking industry is very dissatisfied with this kind of play, but Liu Chong Hing Bank still goes its own way. Even I think the risk is too great. "

"This is a small matter." Yang Wendong said with a smile: "The biggest risk is that Liao Chongxing Bank also established its own real estate company and then used the depositors' money to develop real estate."

"I'm not sure about that. I haven't paid much attention to the real estate market." After listening, Wei Zetao said, "Mr. Yang means that Liao Chong Hing Bank is very risky? Do we need to change banks?"

"No, as long as the amount we lend out exceeds the deposit, it's safe." Yang Wendong smiled and said, "I chose this bank as the bank where my company opened an account because they also had very loose control over lending."

"Mr. Yang is really prepared for a rainy day. I admire you." After listening to this, Wei Zetao understood what Yang Wendong meant.

Yang Wendong added: "I have only been prepared. I don't think I can handle the specific operations better than you."

Wei Zetao smiled and said, "Mr. Yang, as the boss, you only need to be responsible for strategic matters. Communicating with financial institutions or other companies is tactical, and we, the management, are responsible for that."

"Yeah, that's exactly what I want." Yang Wendong nodded in agreement.

In fact, with his past life experience, he was not incapable of negotiating with banks and other companies, but now in the 50s, it was different from the 21st century. However, as a boss, he would not show up when he could, and would show up when he should.

A classic principle: hold small meetings for big matters and big meetings for small matters. When it comes to larger deals, the bosses of both sides usually get together to set a rough framework, and then their subordinates come on stage to seriously negotiate the details.

Of course, he is still too young to be the boss of Liu Chong Hing Bank. Otherwise, the normal operation of this kind of loan is that the boss makes the decision first, and then the subordinates make the decision.
After arriving at the bank lobby, Wei Zetao walked up and communicated with the security guard. Then the security guard left for a while and brought down a woman in her early 30s wearing a suit uniform.

"Hello, Mr. Wei." The woman in the suit walked closer and shook hands with a smile.

"Hello, Miss Ning." Wei Zetao smiled, as if they were acquaintances, and then said, "This is my boss, Mr. Yang. Mr. Yang, this is Ning Wenjue, the manager of the credit business department of Liao Chong Hing Bank."

Ning Wenjue immediately looked at Yang Wendong and said with a smile, "I have heard of Mr. Yang's name for a long time. I feel honored to meet you today."

"Thank you for the compliment." Yang Wendong said with a smile after shaking hands. In such a business meeting, basic mutual compliments are still necessary.

What kind of fame is Yang Wendong in Hong Kong? Even if someone uses the sticky note, who would have thought that it was made by a local? No one would pay too much attention to it, they would just think it was convenient.

Only a very small number of people with great business acumen might think that this might be a business opportunity and would investigate it.

Ning Wenjue said, "Mr. Yang, Mr. Wei, it's quite noisy here. How about we go to a quieter place and sit down to discuss things slowly?"

Wei Zetao said with a smile: "Of course it's better. The guest follows the host's wishes. You can arrange it as you like."

"Then please come this way." Ning Wenjue pointed the way and took the two of them around the queue and into a VIP guest room at the back.

Then, a pretty bank clerk brought coffee. In this era, most Chinese people still liked tea, but the upper and middle class groups preferred coffee.
One reason may be that coffee has a better effect in refreshing people, and the other reason is that the British government in Hong Kong is still ruled by the British, and many people still subconsciously want to integrate into this group.
"Mr. Yang, I've been using sticky notes all the time." After taking a sip of coffee, Ning Wenjue said with a smile, "I have to say, this thing makes my work much more convenient.

It’s just that I use it normally and I never thought that this sticky note was invented by us Hong Kong people. You are really amazing.”

Yang Wendong also said: "Thank you for the compliment. Changxing Industrial's previous product was the mouse trap, which had a lot to do with glue. By chance, my assistant lost a small piece of paper that he had written down before, which gave me this idea."

Ning Wenjue smiled and said, "Write things down on small pieces of paper and put them in the corresponding files. I've done that before, and I believe most clerks have done that.

Similarly, there must be a small number of people who have lost the small pieces of paper with their records. On a global scale, this is a huge number, but no one has thought of adding a little soft glue on the back of the paper.

So, I really admire Yang Sheng."

"Haha, Mr. Yang is very talented in these inventions." Wei Zetao followed up, "This is also the biggest advantage of our Changxing Industry now. However, Miss Ning, any product, no matter how creative it is, requires a large amount of production capacity if it is to be sold globally.

This is very similar to Cheung Kong Industries today. We also need sufficient funds to expand production and obtain higher profits.”

Ning Wenjue nodded and said, "I understand, but your company's loan amount is a bit too much. A loan of one million Hong Kong dollars without any actual collateral makes it difficult for our bank's approval department."

Yang Wendong said, "Ms. Ning, I know that for banks, it is most convenient to have collateral; but for factories, we have stable procurement contracts and transaction records with foreign countries, and the other party is still a top global company.

If these conditions are not enough, then Hong Kong's small and medium-sized manufacturing industries may not be able to get bank loans, right?"

Although they are optimistic about their own company, banks will not carefully analyze the specific situation of each factory. They only look at the risks.

Or even if they are really optimistic, they will use this kind of rhetoric to make more profits for themselves, which is also normal business behavior.

"We are certainly willing to support Hong Kong's manufacturing industry," Ning Wenjue said, "but without any actual collateral, the risk for our bank is indeed too great. We also hope that you two can come up with some items of actual value."

"At present, we don't have any properties of very high value." Wei Zetao shook his head and said.

Yang Wendong didn't say anything, but just nodded slightly to show his agreement.

This is also an essential problem in the financial industry. Banks or lenders need stable collateral; the natural properties of real estate are a perfect match with the needs of banks. As long as house prices do not fall, there is almost no risk.

But for manufacturing factories, there are too many risk points. This is why banks prefer real estate. It can also be seen from the interest rate that the interest rate of real estate mortgage is lower because of the low risk. The normal commercial loan interest rate is much higher.

Ning Wenjue said: "Mr. Wei, Mr. Yang, although our bank has been supporting the manufacturing industry, most of them are small-scale, and the companies we lend to are also those that have been in business for many years. Relatively speaking, the risk is smaller, the amount of money borrowed is not that much, and there will be intermediaries to guarantee.

After Mr. Wei handed us the information about Changxing Industrial, I also did some research. This sticky note is indeed a product that has started to sell well in the United States. As your company's distributor, we trust 3M. But no matter what, a million-dollar loan also requires collateral. So what I mean is, mortgage the patent of the sticky note, what do you think, Mr. Yang?"

……

PS: Please give me a monthly ticket
(End of this chapter)

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