Reborn, back to a small county town to become a wealthy family

Chapter 710 There's more...
In the past, my interactions with Jiang Yuanshan were mostly amicable, but this time there was a hint of warning in the air.

There's nothing we can do about it; Old Jiang is a doting father.

Dinner was at Longtan Mountain Villa.

Around 4 o'clock, Jiang Fan picked up Xiao Yujun and her grandmother Liu Shunzhi.

When the girl saw Luo Yang again a day later, she had a shy blush on her face. It was obvious that her family had agreed to their marriage registration.

The mother-in-law, Xiao Yujun, and the grandmother, Liu Shunzhi, looked at Luo Yang with more affection.

Jiang Yuanshan also took out a bottle of Moutai with an iron cap, which he shared with Luo Yang.

Drinking with your father-in-law—that's the treatment a formal son-in-law gets.

After dinner, Luo Yang and Jiang Fan took a walk, circling around the paths in the mountain villa.

"Dad told me at the dinner table that you've been here all afternoon?"

"Yes, I arrived a little after 12 o'clock."

Luo Yang drank half a jin of strong liquor, and his whole body felt hot. Coupled with the already high outdoor temperature, fine beads of sweat appeared on his forehead.

"What did you all talk about all afternoon?"

"Uncle Tang was here today too; he didn't leave until around three o'clock."

Luo Yang explained, "I happened to talk to him about the LC City commercial complex project, and after he left, I talked to Dad about our marriage registration."

He knew that Jiang Fan's roundabout way of asking what they had talked about that afternoon was precisely what she was concerned about.

"Oh."

Because of the heat, Jiang Fan didn't link arms with Luo Yang as they usually did when they went for a walk. Instead, they walked side by side, with Jiang Fan saying, "Old Jiang didn't make things difficult for you, did he?"

"hehe."

Luo Yang tilted his head and glanced at Jiang Fan: "Your dad warned me that if I dare to be unfaithful to you, he'll kill me!"

He made a gesture as he spoke.

"whee."

Jiang Fan suddenly jumped forward and started walking backward.

She gestured with her little fist at Luo Yang, and said with a smug look on her face, "Now I have the support of my whole family!"

This family obviously includes more than just Jiang Yuanshan and Xiao Yujun.

It definitely includes Gu Honglan.

"Ah."

Luo Yang slightly curled the corners of his mouth; "I'm trembling with fear, so I've decided to calm down first."

"what?"

Jiang Fan stopped abruptly, staring wide-eyed at Luo Yang: "You...you don't want to get our marriage certificate anymore?"

His voice trembled slightly, and tears began to well up in his eyes.

"But Old Jiang said that the marriage has to be done whether we want to or not."

Luo Yang continued to tease Jiang Fan, saying, "If I don't agree, he'll kidnap me and make me a live-in son-in-law. What can I do but give in?"

"Pooh!"

Jiang Fan then realized that he had been tricked by Luo Yang.

After spitting at him, she brandished her little fists and began chasing after Luo Yang.

The two chased and fled, having a great time.

After a pleasant weekend, Monday arrives.

The city's four leading bodies all work in the same compound, and He Gaoguan's office is in Building No. 1.

Luo Yang arrived on the third floor ten minutes early and waited to be received in the reception room next to the leader's office.

I figured out what to say when we meet last night.

Therefore, when Luo Yang entered He Gaoguan's office, his mind was very clear.

After exchanging pleasantries, the conversation got down to business.

"How much does Mr. Luo know about credit cooperatives?"

The high-ranking official got straight to the point: "Have you been eyeing it for a while now?"

"To be honest, I don't know much about credit cooperatives. Even if I do know something, it's based on my impressions from my childhood and a little bit of vague information from relatives and friends."

Luo Yang said sincerely, "The idea of ​​credit cooperatives came about a week or two ago. At that time, the company was preparing to make a major restructuring. The group's strategy department mentioned the role of the financial platform and suggested that the company acquire shares in a commercial bank or directly establish a bank in Hong Kong."

He took Jiang Yuanshan's advice and had Chu Jing find a professional consulting firm on Saturday. By Sunday afternoon, they had obtained the detailed conditions for establishing a bank in Hong Kong.

It was because of this preparation that he dared to say such things in front of the high-ranking official.

As expected, the first half of the statement did not surprise the official, but the last sentence made him pause for a moment.

"It must be quite difficult to establish a new bank in Hong Kong, right?"

“It’s not small,” Luo Yang replied with a smile. “Even with professional guidance, it takes about six months to get the license. And a bank established in Hong Kong is not like one that has obtained a financial license in mainland China; many of its operations are restricted.”

"Yes, there are definitely limitations."

Official Ho nodded and said, "In all these years, I have never seen a local Hong Kong bank set up a branch network in mainland China."

"Therefore, establishing a bank in Hong Kong is only an alternative plan."

Luo Yang responded "honestly": "Fortunately, the company doesn't have a great need for savings business. It's more about leveraging its other financial platform features, such as financing, lending, and investment."

"It seems that President Luo already has a fairly detailed plan in mind."

Official He skipped over the matter of establishing a bank in Hong Kong and returned to the topic of credit cooperatives: "After talking with you for more than ten minutes that morning, I had someone check the situation of credit cooperatives in this city. The relevant data has been compiled, and their situation is not very good."

A credit cooperative was described by its leaders as not being in a good position. What exactly could be the reason?

"Is attracting deposits not working?"

This was the first thing Luo Yang thought of.

If a bank loses its foundation of savings, its reserves deposited with the central bank will be insufficient, which directly affects a commercial bank's liquidity, credit business scale, and money supply.
"This is just one of the bad situations."

He sighed and said, "In the 1980s and 90s, rural areas accounted for the majority of the population. Especially since population mobility was not very high at that time, townships retained most of the young and middle-aged population. This was the most glorious era for credit cooperatives. However, with the further deepening of reform and opening up, a large number of young and middle-aged people began to move around. Coupled with the advancement of urbanization, the population also concentrated in towns and cities. This change led to the fundamental collapse of credit cooperatives in rural areas."

Ultimately, the glory of credit cooperatives stemmed from the large rural population base they had at the time.

Without this condition, the development and growth of credit cooperatives would be like a rootless duckweed.

"Officer He, what other problems exist?"

"The most serious problem is non-performing loans."

When the high-ranking official mentioned this, he couldn't help but click his tongue and say, "This is a result of the characteristics of the times. After reviewing the data, I still don't know who to blame for this outcome."

The implied meaning behind his words was that the loan was unrecoverable.

Not only is it impossible to get it back, but it's also a problem who to ask for it back.

"In those days, most of the enterprises that borrowed money from credit cooperatives were township collective enterprises, with a small number being private enterprises."

Official He further explained, "The portion involving private enterprises is relatively easier to handle. Either they've gone bankrupt, making those loans non-performing assets, or some debtors have been delaying repayment for a long time, so there's still hope of recovering some of those loans."

"I probably understand."

Luo Yang shared his conjecture: "In the 1990s, a large number of township collective enterprises underwent restructuring. During the cleanup process, some loans were retained, but many restructured enterprises were left as empty shells, leaving the credit cooperatives with no target to pursue the loans."

Back then, most of those township collective enterprises had triangular debts.

Some receivables that could actually be recovered were treated as uncollectible dead debts. After the restructuring and privatization were completed, these dead debts became recoverable working capital.

Everyone knows what's going on, but it can't be openly discussed.

To circumvent these practices, many business owners register a new company, but use the same equipment and workers from the original factory. In this way, the business owners can leverage their personal connections to transfer those dead debts to the new company.

As for the old enterprises that were restructured, they became empty shells.

The money lent out by the credit cooperatives turned into non-performing assets that could not be recovered; at most, they could get back some old factory land.

How much is the land owned by township enterprises worth?

“You’re right, but that’s just one of them.”

Official He shook his head and said, "Those things from back then are hard to explain now. Anyway, there are many unrecoverable loans in the credit cooperatives. These non-performing assets have not been dealt with yet, which is the main reason why the credit cooperatives are dying."

"Sir, based on the information you just provided, is the credit cooperative's net asset value still positive?"

Luo Yang asked curiously, "It's not like we're in debt, is it?"

"cough cough"

He Gaoguan coughed a few times before saying, "The net assets being negative is not the case. It's just that the credit cooperative in Yang City basically has no major business now. It's barely surviving until now by relying on a few designated businesses given to it by the city."

Although no answer was given, Luo Yang could guess that the net assets of Yangshi Credit Cooperative were probably between several million and thirty to forty million yuan, not too high.

"Official He, now that our city's credit cooperative has reached this state, does the city have any plans to restructure it and sell its shares?"

Since the conversation had progressed to this point, Luo Yang directly stated his purpose: "If possible, I'd like to take over and see if I can revive it and make it completely new in a few years."

He completely abandoned the rhetoric Tang Hailin had taught him the day before and communicated with his leader according to his own conscience.

In fact, from the moment Luo Yang entered the office and they started talking, Official He was already quite surprised.

In his view, Luo Yang would inevitably offer some benefits during today's conversation in order to entice him to promote the reform of the credit cooperative.

But Luo Yang didn't do that.

Of course, the details haven't been discussed yet, and things may change later.

But at least it's clean now.

"Mr. Luo, first of all, I can confirm one thing."

After a moment of silence, the official said, "It is definitely a good thing to be able to bring in a powerful enterprise to invest in the credit cooperative and reform its outdated mechanisms so that it can regain its proper functions."

Luo Yang really wanted to smoke at that moment.

Because he knew that there was a "but" below Official He.
(End of this chapter)