1982 Started from Hong Kong

Chapter 447 Back

There's a famous saying that's considered gospel by Hong Kong investors: 'High tech is for making money, low tech is for slacking off.'

In other words, anyone who gets involved in high technology will inevitably lose money; only by engaging in low technology can one make a profit.

Low-tech industries, represented by real estate and finance, essentially embody the principle of making money by buying low and selling high.

In the late 1980s, most of the starting points for the development of personal computers, chip manufacturing, and the Internet came from Silicon Valley in the United States. Major technology leaders had already established their teams and formed a complete set of industry barriers.

Since the real estate business is a sure-fire way to make money, why bother trying to make it in the high-tech industry?

Hong Kong businessmen are not keen to participate in the technology industry, especially projects that require a large investment in R&D and production bases and have a very long payback period, unless there are sufficient incentives to drive them.

On the other hand, the domestic market is too small.

The miracle of how Kuaibo Technology's VCDs and CDs were immediately sold overseas upon their release was something others wouldn't even dare to dream of. Normally, if a company could successfully make a living in Hong Kong by developing a knock-off Japanese game console or Walkman, it would be considered a success.

With the reform and opening up of the mainland, even these counterfeit factories have moved to the Pearl River Delta, making Hong Kong's innovation and technology sector increasingly weak.

Do you know why Wei Yixin insisted on choosing me?

West of Xiawan Village, Zhai Yuan, along with several key members of Kuaibo, drove around the area near the office site planned by Wei Yixin.

Sitting in the car, looking at the vast area in front of him that was ready to be developed at any time, Zhai Yuan turned to Guan Weiming next to him and asked him a question.

Guan Weiming replied, "What is Kuaibo's unique leading position on the STAR Market?"

“I’d say that’s half the reason,” Zhai Yuan said with a smile. “In my novel ‘The Three-Body Problem,’ I created many high-tech products, such as the ‘Big Brother’s Phone’ that can play music and watch movies all in one, the V Device that allows you to experience the game world by wearing a helmet, a personal computer that is thinner and lighter than a mirror, and even nanomaterials that can be applied to various fields… Wei Sir and his think tank believe that as long as even one of these wildly imaginative ideas can be successfully implemented, the decision he made to approve the land for me today will bring a hundredfold return in the future.”

Kwan Wai-ming was stunned for a moment, then burst into unrestrained laughter: "So even the Governor of Hong Kong likes fairy tales. There are killer robots in Terminator, but the United States doesn't seem to spend money on researching them. You can take a novel so seriously. Inspector Wai is such an idealist!"

After Guan Weiming stopped laughing, Zhai Yuan patted him on the shoulder earnestly and said, "Old Guan, just do your best at Kuaibo."

Guan Weiming nodded solemnly in response: "Boss, don't worry. With the current speed of product iteration in our technical department, even 20 years from now, Kuaibo VCD will still dominate the market!"

Zhai Yuan, his face full of approval, encouraged him, "Keep it up!"

Essentially, Kuaibo was still a makeshift operation.

After completing the development of VCDs and optical discs, the company as a whole tended to become more like an assembly plant, except for the technical department which continued to participate in product iteration and development.

Kwan Wai-ming has become the head of this leading Hong Kong digital company, but his vision is still inevitably short-sighted.

Just like a virgin who can't dream about the details even if he has a wet dream.
If we tell Guan Weiming now that in a few years even the CD playback drivers for machines on the market will be removed, he definitely won't know what Zhai Yuan is talking about.

Fortunately, I still have an elite force left in Japan!
This is also the main reason why Zhai Yuan dared to agree to cooperate with Wei Yixin.

If the land, valued at HK$6 million, is used purely for developing digital technology, subsequent investments will require at least several times that amount, while the path to profitability will need to be explored step by step.

Looking across the entire Hong Kong business community, at this time, apart from Zhai Yuan, no one else dared to touch this business.

High-tech means to clean things up, while low-tech means to salvage them.

This seemingly forward-thinking statement also implies that a vast blue ocean lies ahead.

"Call Lao Tao and ask him to come back."

After inspecting the land parcel with a 50-year lease, Zhai Yuan rolled up the car window and called to Guan Weiming, "They've been learning from Japan for so long, we should check how much real knowledge they've actually acquired..."

…………

With the box office of "A Chinese Ghost Story" declining,

"High School Musical," which has been in preparation for several months, has spread with a promotional campaign that has swept across Hong Kong.

The filming cost was only three million, but the publicity and promotion expenses this time amounted to nearly five million.

From train stations to shopping malls, advertisements and posters are posted everywhere, interspersed with promotions for the joint venture of Chunqiu Performing Arts Academy and collaborations with campuses such as Twilight Academy and Diocesan Academy.

This summer, "High School Musical" seemed to be on a mission from the Education Bureau, creating an unprecedented craze, especially among students.

The front-page poster, with its strong school theme, features a bright and minimalist classroom setting. The main characters, dressed in school uniforms, sit at desks, writing the film's title on the blackboard behind them with chalk.

The second poster features Zhou Huimin, Ye Yuqing, Li Saifeng, Bai Anni, and Noriko Sakai, all brimming with youthful energy. They wear Oxford hats and graduation gowns, their figures exuberant, and the vibrant colors incorporating musical instrument elements create an atmosphere of unrestrained youth.

Who the male lead is? It doesn't matter! Zheng Yijian's current status is clearly not high enough to compete with the top girl group in East Asia. He should just obediently give up the center position.

During the film's vigorous promotional period,

The Chunqiu Performing Arts Academy is also about to open.

Nominally, it is the fifth university in Hong Kong, but in reality, apart from Hong Kong University and the Chinese University of Hong Kong, Spring and Autumn Academy for Performing Arts has already taken the lead.

Also a tertiary institution, Spring and Autumn College is on par with two other higher education institutions. The former, Hong Kong Baptist College, now mainly relies on donations from the Education Grants Committee to operate its courses. The latter, Lingnan College, has been relocating its campus frequently since the Boxer Rebellion, moving between the mainland, Hong Kong, and Malaysia, failing to retain students. This year, it has suffered a deficit of over HK$700,000, and it is still uncertain whether it can weather the storm this year.

If even a small portion of the funds allocated for the lavish renovation of the Chunqiu Performing Arts Academy were to be spared, it would be enough for the Baptist Academy and Lingnan to develop significantly.

However, Zhai Yuan clearly had no intention of indiscriminately showing kindness.

Not only that, taking advantage of the financial crisis of Baptist University and Lingnan University, Spring and Autumn also spread the word that it would hire teachers from the other colleges to teach at its own school with high salaries, causing panic among the other schools. Even Hong Kong University and the Chinese University of Hong Kong took precautions and held a temporary meeting of the board of directors to provide additional benefits for the teachers.

"Am I stabbing people in the back? I'm forcing capitalists to promote and raise the working class. I'm doing a great deed."

The construction of the school is mostly complete, with the remaining minor construction work to be completed next year, but this will not affect the official opening of classes in September.

Principal Zhai strolled along the rubber track on the playground, accompanied by a dozen or so people.

Walking side by side was Ms. Wong Wan-yee, Director of the Quality Assurance Section of the Education Department.

Starting this year, Zhai Yuan has been getting closer to the Education Department. After all, the department not only oversees education but also coordinates various affairs such as film, music, sports, arts, and publishing. Director Xu Yu has benefited a lot from 91 Entertainment. One of his most outstanding achievements is promoting the "BabyBus" children's educational program in the UK, which has received a lot of attention in the UK's education sector. Although he is semi-retired, he has received the Commander of the Order of the British Commonwealth and wears the gold medal of the 'CBE' when attending formal occasions. Although he is only a Class A Administrative Officer, his demeanor is more imposing than that of the three Secretaries.

“Although Director Xu Yu is no longer involved in the Education Department’s work, after receiving the Commonwealth CBE, his focus has shifted to the Policy Council’s Administrative Service, and his influence has increased rather than decreased,” Huang Yunyi said with a smile. “So, even though Mr. Zhai is doing great things, at least in terms of school teacher qualifications, the Education Department will pretend not to see any complaints it receives.”

Zhai Yuan asked curiously, "Are other schools so petty? They actually complained about me?"

Huang Yunyi nodded and said, "Of course, Hong Kong has a Salary Investigation Committee! Public school teachers only earn a little over five thousand dollars a month, but Spring and Autumn is asking for six thousand as a starting price, and even has an exaggerated claim of no upper limit. Now several schools are secretly joining forces with the Hong Kong Professional Teachers' Association and other educational groups to boycott you, saying you are engaging in malicious competition." "Tch! As expected, you can't get ahead by working. Teachers are already working hard enough as employees, and now they have to be exploited by some damned Hong Kong Professional Teachers' Association and committee."

Zhai Yuan curled his lips upon hearing this. He hadn't expected that the business world was full of intrigue and power struggles, and the same principle applied to the education sector. In fact, since teachers and civil servants in Hong Kong were now in the same category, they were subject to a wider range of regulations than ordinary employees. If Spring and Autumn College didn't have the status of a private college, then Zhai Yuan, as the principal, wouldn't have any say in when or how much a raise would be given.

"In short, I'm not going to change it. Chunqiu Academy's starting salary of six thousand dollars is enough to hire teachers who have at least four years of full-time diplomas and five years of teaching experience. Is that considered high? Boss Dong's crew members have all received a raise to ten thousand dollars this year! And the Seamen's Union hasn't come out to accuse him of paying his employees too much and engaging in malicious competition. That's insane!"

From a businessman's perspective, Zhai Yuan greeted the members of the Teachers' Association, then grinned and said to Huang Yunyi, "I've heard newly hired teachers complain that they are not paid the same as civil servants for the same work. Since that's the case, I think we should make a big fuss about this and make public those letters complaining about Chunqiu College, so that everyone knows who is really exploiting them..."

Upon hearing this, Huang Yunyi felt a chill run down her spine and waved her hands repeatedly, advising, "Do you want to cause a strike by all the teachers in Hong Kong? The Education Department can't withstand the pressure. In short, we won't make things difficult for Chunqiu College because of this. Mr. Zhai, just think of them as jealous of your money. Let's all keep to ourselves, okay?"

These days, Mr. Zhai has a notorious reputation, and Huang Yunyi has also heard of him. She is worried that he might cause another scandal in Hong Kong as soon as he enters the education sector.

Zhai Yuan rolled his eyes and said, "It's best if we can just stay at peace. I didn't set up this performing arts academy to compete with anyone else. If people still jump out to cause trouble even now, who knows, one day I might impulsively expose some shady scandals in the education sector. That would be so pointless."

"No, no..." Huang Yunyi said with a helpless smile, then added, "Besides, what scandals are there in the education sector? The salary structure for diploma teachers has been carefully considered and has always been open and transparent!"

Zhai Yuan smiled noncommittally. In reality, the exploitation of teachers in Hong Kong was the norm at this time. Because of the British system, the salaries of teachers and nurses were linked to those of civil servants, but they were at the lowest level. When civil servants' salaries increased, they would get a small share, and when civil servants' salaries decreased, they would have to pay a large share.

Even so, the various colleges further implemented the policy of giving teachers a 10% pay cut, meaning that out of 100 yuan, they only received 90 yuan.

Where did the money we saved go?

Naturally, they would have to show respect to the Education Association, which led to a whole host of teachers' associations, including the Chinese Teachers' Association, the Rural Teachers' Association, the Cultural and Educational Association, the Arts, Commerce and Education Association, and so on. Once they received the money, they would jointly petition the British Qualifications Committee to conduct a comprehensive review of their own institutions and obtain a good evaluation. Then, they would recommend that the Hong Kong government grant the institutions new land to expand and strengthen them.

However, usually when schools reach this stage, even if they acquire the land, they will not choose to build a new campus. Instead, they will use the land as collateral to obtain an equivalent subsidy from the Hong Kong Education Funding Committee, and then proceed to the process of dividing the spoils.

What about the teachers who were taken advantage of? It doesn't matter, at most their next paycheck won't be discounted.

Zhai Yuan only gradually came to understand these practices in the education sector when he founded the Chunqiu Performing Arts Academy, and he immediately felt deep admiration for them.

However, this is precisely why schools in Hong Kong have historically struggled to attract people with genuine passion for education.

Therefore, Principal Du Yexien is all the more precious, becoming the only outstanding figure in the education sector in recent decades.

"If Ms. Huang says there are no scandals, then there aren't any."

Zhai Yuan gathered his thoughts, smiled noncommittally, and looked at the rows of school buildings before him. He then sighed, "In short, my Chunqiu School, such a large institution, has never received a single penny from the Hong Kong government from the very beginning, from site selection to construction. We also have no plans to apply for accreditation in the UK. We're not in the same boat, are we?"

Huang Yunyi let out a breath and nodded, saying, "Understood."

At the same time, he made up his mind that when he got back, he would gather up the group of people who had been jumping around recently, envious and worried that Chunqiu Performing Arts Academy would steal students and teachers, and tell them not to continue causing trouble.

Zhai Yuan smiled, then changed the subject, asking, "Speaking of which, since Director Xu Yu has moved from the education department to the government department, has Miss Huang considered taking over his job?"

Huang Yunyi was taken aback when she heard this, then smiled and said, "How could it be my turn? I'm still in the Quality Assurance Section. I need to serve as a deputy director for a term before I'm eligible for a promotion."

“Then let’s try being the deputy director first,” Zhai Yuan said with a smile, pointing to a group of teachers and staff accompanying him not far behind. He added, “You and He Zilang are old friends, and we’re all good friends here. The 102 teachers of Chunqiu Performing Arts Academy will definitely support you to the end. If you need anything in the future, just call me anytime…”

…………

In mid-July, screenings of "A Chinese Ghost Story" gradually decreased.

The entire 1024 cinema chain made way for "High School Musical," and even held a dual-screening event with Jiahe Cinemas.

Raymond Chow was not actually satisfied with this film. It had been twenty years since Hong Kong had produced a musical film. His past impressions were of themes like "The Butterfly Lovers," "Wild Rose," and "Spring River Flower Moon Night," starring actresses like Zhou Xuan, Gu Mei, and Lin Dai.

Even after watching the copy, the three tycoons of Jiahe still felt that Zhou Huimin and the others couldn't compare to the goddesses of their era, and that their singing and dancing seemed particularly noisy.

"The box office should be fine, after all, Zhai Yuan personally took charge of the project."

Stepping out of the screening room, Zou Wenhuai shook his head and sighed, "But as I get older, I really can't appreciate the things young people make anymore."

“I’m the same,” Cai Dusheng said helplessly. “These days, when people talk about pop and rock, our old folks just can’t handle it!”

“The last film, ‘A Chinese Ghost Story,’ was well-made, and the cost was well controlled,” He Guanchang said. “Zeng Zhiwei is planning to follow suit and make a film called ‘Golden Swallow.’ He sent the script to Hong Xinbao yesterday. After reading it, I think it’s worth making. I plan to borrow Wang Zuxian from Jiu Yi Entertainment, and Jiahe will handle the production of this film themselves.”

“You can make the decisions,” Zou Wenhuai said. “Jiahe is now in the same boat as 1024. We cooperate more than we compete. These are minor issues. The most important thing is to withstand the impact of Hollywood and take advantage of the lifting of martial law in Taiwan and South Korea to export as many local films as possible.”

This summer, Xinbao Cinema Alliance released another blockbuster, "Rambo III," which was unbeatable. It surpassed Jiahe's "Dragon Slayer," directed by Yuen Woo-ping, at the box office and also gained the upper hand in the fierce competition with "A Chinese Ghost Story."

According to news from North America recently, Chan Yung-mei is in talks with the producers of "A Nightmare on Elm Street," planning to release the fourth installment of the series around the Ghost Festival, simultaneously with North America. At this time, the promotional campaign for "High School Musical" has just ended, and promotional posters for the serial killer "Freddy" have also begun to appear on the streets of Hong Kong, looking quite menacing.

Saturday, October 7.

High School Musical premiere.

What does it mean to spend five million Hong Kong dollars on marketing and distribution? The long queues forming outside the theaters right now are a testament to that.

The audience queuing to enter were mostly young students, in groups of three or five. It was a weekend holiday, and there were also many scenes of parents accompanying their children to the theater.

Before the establishment of a film rating system, the scene of parents accompanying their children to the theater was usually concentrated during the Lunar New Year season, a time for family-friendly entertainment.

Only during this release window can adults be as certain as possible that there will be no inappropriate elements in the movies. Even so, the occasional profanity and softcore pornography that appeared during past Lunar New Year releases still made parents who brought their children feel embarrassed.

With the establishment of a rating system, knowing the approval standards for different types of films in advance gives parents more choices.

High School Musical, an I-rated film, is suitable for viewers of all ages.

Even disregarding the rating system, this is the first truly all-ages film since the commercialization of Hong Kong local films.

Prior to this, the only ones that truly met the standards were the Doraemon movies and the XX Story series from Japan.

at the same time,

A passenger plane from Japan landed at Kai Tak Airport.

Tao Zongyi, who was in charge of the semiconductor business in Japan, returned to Hong Kong with several key technical personnel, followed by a few foreigners.

Zhai Yuan, who had been waiting outside the airport for a long time, saw Lao Tao and greeted him with a smile:

"My elite troops are back."

(End of this chapter)