A century-old wealthy family that rose from Shanghai

The next day, Chen Guangliang took some time to have lunch with Lu Gen.

Lu Gen quickly revealed the truth, saying, "Mr. Chen, I'm having some financial problems and would like to obtain a loan from Ping An Bank. I hope you can be lenient with me, considering our many years of pleasant cooperation!"

Chen Guangliang wasn't so easily fooled, and said directly, "I'm afraid it's not just a small problem. This isn't a secret; I can find out about it very easily."

As far as he knew, some Western film distributors were no longer distributing their films through Lu Gen, but instead had set up offices in Shanghai to distribute them directly. Without this advantage, what other cards did Lu Gen have left?

His Phoenix Film Company, despite its seemingly huge investment (200 million), is actually a reflection of the fact that the film industry cannot be solved by money alone; it relies on good films.

For example, in the last three years or so, Time Pictures has produced an average of about ten films per year, most of which are profitable, and many of them are huge hits.

Knowing he couldn't hide it any longer, Lu Gen said, "I was cheated by a group of foreigners and suffered a great loss, which has shaken my career."

In this era, foreigners have deceived too many Chinese people, mainly due to the information channels available to Chinese people and their deep-seated inferiority complex towards foreigners.

After thinking for a moment, Chen Guangliang said, "If you really need funds, then sell Phoenix Pictures to Times Pictures. As for the price, I can consider that since we are friends, the amount you invest can be slightly discounted from the original price."

Lu Gen's expression changed drastically, and he said, "Mr. Chen, I'm not selling assets, but hoping to obtain a loan."

Chen Guangliang shook his head and said, "Don't get agitated. Even if Times Pictures wants to buy your Phoenix Pictures, they won't be able to come up with the funds in the next few months. They'll have to wait until at least the second half of the year. After all, you know the current situation to some extent. No bank can provide funds; everyone is struggling to survive. As for your financial situation, I think you understand it yourself. It's up to you to decide what to do then."

Lu Gen was devastated. He had dreamed of building a vertically integrated film empire, from production to audience distribution. If Phoenix Pictures were acquired, that dream would be shattered.

More importantly, he didn't know how long the business empire he knew could last—maybe three months, maybe six months—so he actually didn't have many options.

Finally, he could only say, "Okay, I'll go back and think about it."

Chen Guangliang nodded, then changed the subject to talk about movies. Although Lu Gen wasn't in the mood, he was still willing to participate.

After finishing his meal, Lu Gen left somewhat dejectedly.

He saw in Chen Guangliang the severity of the current "tight money supply" situation. Even someone like Chen Guangliang dared not make any rash moves in the first half of the year and had to wait until the second half.

This means that his chances of getting help from banks are even slimmer, because other banks will certainly be more cautious.

the other side.

The reasons why Chan Kwong-leung was willing to acquire Phoenix Film Studios were not only the 13-square-foot (22-acre) plot of land in North Point, but also the equipment, studios, and network of talent purchased by Lu Gen.

It wasn't a waste for Era Films to have two production bases in Hong Kong, after all, Chen Guangliang was planning to sell the base in Hu Nan and move all of his production operations to Hong Kong in 1937.

At the same time, based in Hong Kong, it supplies films to Southeast Asia.

He could have easily made his money back between 1937 and 1941; he would have moved even better film equipment to Macau in advance; it is fair to say that it was virtually impossible for the Japanese to confiscate his property (except for real estate, which could be recovered later).

Hankou.

The three leaders, Commander-in-Chief, Kong Xiangxi, and Song Ziwen, along with some non-pro-Japanese figures in the Nanjing government, are having a secret meeting.

Today's meeting mainly focused on discussing 'a restructuring plan for ZG Bank'.
Why avoid pro-Japanese figures such as Zhang Jia'ao, vice president of ZG Bank (responsible for substantive work), Wang Jingwei, Zhang Qun, and Huang Fu?

This story begins with Song Ziwen's 'stepping down'.

In the autumn of 1933, due to a serious disagreement with the Commander-in-Chief over military spending, T.V. Soong once again resigned from his position as Minister of Finance of the Southern Whampoa government, along with other important government positions such as President of the Central Bank and Premier of the Executive Yuan.

His temporary departure from the core of power in the Republic of China, coupled with his political setbacks, ironically fueled Song Ziwen's interest in business. At this time, he utilized his remaining position as a member of the Standing Committee of the National Economic Commission to demonstrate his enthusiasm for national economic development.

Soong Tse-ven knew that implementing the new economic development plan would require a large amount of capital, so he planned to establish a powerful investment group – the ZG Construction Bank Company.

Soong Tse-ven's unique status would undoubtedly play an immeasurable role in promoting his economic development plans; however, the obstacles were also obvious. Soong Tse-ven envisioned that the China Construction Bank should be an investment company that pooled resources from major Chinese and foreign financial groups, with a capital of 1 million yuan, composed of Chinese and British and American bankers.

However, this move aroused strong suspicion from Japan, and the Japanese consul in Nankai explicitly opposed the participation of British, American, and other foreign capital. Japan's blackmail policy forced the British and American consortia to back down. Unfortunately, Song Ziwen's Construction Bank could only secure the support of the Chinese consortium.

Under these circumstances, it was natural that any action taken by T.V. Soong would inevitably provoke dissatisfaction from Japan and pro-Japanese factions; and Soong's economic activities would also opportunistically undermine Japanese interests.

After the establishment of the China Construction Bank, Song Ziwen had the title of "China's Morgan," but he knew it was just an empty title. If he wanted to continue to wield influence in the economic field, he absolutely needed the support of large financial groups, and given the current financial landscape, he could not do without the participation of China Construction Bank.

Huaxia Bank was originally the "national bank" of the Qing Dynasty, namely the Daqing Bank. Although it was converted into a commercial bank, its status and power meant that it remained the de facto "central bank." Due to historical reasons, it was always controlled by the Beiyang clique, and its presidents were all pro-Japanese figures.

Take Zhang Jia'ao, the vice president who was essentially the soul of the Bank of China, as an example. Just as Song Ziwen loved American culture, he was enthusiastic about Japanese culture, had a blind faith in Japan's strength, and even wore kimonos, wooden clogs, and spoke fluent Japanese, displaying a completely Japanese style. As a result, he was deeply alienated from the Western faction; therefore, after the establishment of the Construction Bank, Huaxia Bank quickly adopted a respectful but distant attitude, which Song Ziwen deeply resented.

Now, the opportunity has come.

At the meeting, Song Ziwen said, "President, if we want to improve our financial situation, we must use the 'two bureaus and four banks' as the core to establish a large trust kingdom. This will also directly reflect our control over industry, commerce, and finance."

He dreams of becoming China's 'Morgan', but what exactly is a 'large trust kingdom'?

It's very simple: swallow up and control private enterprises. This way, the central government's revenue can be increased, and the development of various industries can be supported.

Indeed, for example, if this "large trust kingdom" controls the Rong family's "Shenxin Group," it's equivalent to controlling vital industries like the "flour industry" and the "textile industry." When the "Shenxin Group" encounters operational difficulties, the core bank will provide full support; when the "Shenxin Group" is performing well, it can bring huge deposits and profits to the core bank.

To put it bluntly, it's a 'conglomerate model' or a 'government-run business model'.

This time, Kong Xiangxi also sided with Song Ziwen, saying, "President, at this opportunity, we can use government-run banks to acquire several private banks, and some enterprises can also take the opportunity to invest in and acquire them. Once such a layout is completed, it will greatly benefit the central government's finances in the future, and you will have more confidence in controlling the economic direction."

In this respect, H.H. Kung and Tsai-wen shared the same view: "Don't let private enterprises go unchecked," and take advantage of any weaknesses.

The Commander-in-Chief had absolute confidence in Song Ziwen's talent, but sometimes Song Ziwen was arrogant and disobedient, which gave him a headache.

But these are all secondary. Originally, as long as Song Ziwen did not resign voluntarily, he would not have let Song Ziwen leave.

Therefore, the Commander-in-Chief, as always, offered his support: "What do you want to do? Do you have a plan?"

This time, Song Ziwen took the initiative to say, "I want to take control of ZG Bank. In this way, I can use the energy released by these powerful financial institutions to do a lot for D country."

Kong Xiangxi nodded, agreeing with Song Ziwen's proposal.

The Commander-in-Chief said, "Alright, you can do it with confidence. T.V., you will serve as the chairman of ZG Bank and be responsible for its reorganization."

Being the chairman is not enough; a reorganization is also necessary to remove the pro-Japanese faction from the power circle.

"Yes, I will certainly live up to your trust."

Economically, the South Korean government still relies on the Kung-Song family.

Then, Kong Xiangxi said, "President, I want to set up a mini-Fourth Bank."

The Commander-in-Chief asked, "What is a small four-line formation?"

Kong Xiangxi said, "Now, the four old banks, Siming, Guohuo, Qiye, and Tongshang, are all facing serious economic problems. I want to take the two bureaus and four banks as the core, and first annex these four banks to increase the financial strength of the Nanjing government."

The Commander-in-Chief nodded and said, "Since they're in trouble, it's better than them going bankrupt. We can support them. By the way, how's the China Merchants Group doing?"

Kong Xiangxi replied, "The business is doing well. We've already captured a significant market share in Southeast Asian shipping. I heard from Liu Hongsheng that the next step is to ship to Europe and America. Financially, the annual profits are also very good."

The Commander-in-Chief sighed, "This Chen Guangliang is indeed remarkable. He has made many contributions to the country. He created a huge financial empire in Guangdong Province, greatly increasing Chen Jitang's power. However, he also provided advice to the country. A few years ago, he imported an additional 100 million taels of silver, which alleviated the country's financial difficulties. Overall, he has made some contributions."

Chen Guangliang made three major contributions to the country: sugar (saving the country 50 million taels of imports annually), shipping (a company with assets of over 40 million taels), and his suggestion to import silver (which led to the import of 100 million taels by three government-run banks).

However, the main beneficiary of the sugar industry was the warlord Chen Jitang, while the Nanjing government only collected a small amount of tax revenue, which was negligible. Of course, sugar factories were also established in Shanghai, so the Nanjing government also reaped considerable benefits.

However, Chen Jitang was a major threat to the South Whale government.

Of course, the three principles for resolving the situation in the Southwest were: to completely eliminate Li and Bai in Guangxi, and for the Central Government to assist Guangdong in sending troops; to expel anti-Chiang Kai-shek veterans such as Xiao Fucheng from Guangdong; and to maintain the original situation in Guangdong.

The idea was good, but later Chen Jitang thought, if you can solve the problem of 'Li Bai' in Guangxi, why can't you solve the problem of me in Guangdong?
So they eventually joined forces, almost causing a 'national disaster'—Li Bai was moved by the people of the whole country and took into consideration the issue of resisting Japan; Chen Jitang's entire subordinates were bought off.

Upon hearing the Commander-in-Chief mention Chen Guangliang, Kong Xiangxi said, "His bank seems to have ample reserves; there's no chance!"

If I have the chance, I'll naturally try my hand at the 'Five Elements' too.

The commander-in-chief waved his hand, indicating that he wouldn't discuss the matter and that they should handle it themselves. Even if they were to be the bad guys, they would be the ones to do it.

After spending half a month in Hong Kong, Chen Guangliang returned to Shanghai in mid-May.

The main purpose of this trip to Hong Kong was to purchase property. The people involved were all his old subordinates, and since he was very familiar with the market, there shouldn't be any major problems.

Before leaving, Chan Kwong-leung also took the initiative to buy a plot of land on Conduit Road, which is about 3 acres (20000 square feet) in size, for a total price of HK$20.

It was purchased under the name of Cheung Kong Real Estate, but the plan was to build a garden-style villa, which was expected to be completed in two years, just in time for the refugee to arrive in 1937.

Back at the villa on Weihai Road, Yan Renmei, four months pregnant, and her mother Yang Hui, holding the hand of their eldest son Chen Wenjie (over 2 years old), warmly welcomed Chen Guangliang home.

After washing up, Yan Renmei said with a smile, "You've been honest this time."

What does "honest" mean? It means not taking Jiang Meiying to Hong Kong for vacation, since she hasn't had the chance yet.

Chen Guangliang laughed and said, "Eh, it seems there's a traitor among us."

Yan Renmei punched Chen Guangliang with her fist and then said, "Don't slander people. I'm just asking Xiuying where you've been staying for the past fifteen days."

Telegraph and telephone can both be used for communication.

Chen Guangliang joked, "Don't you think Xiuying would dare say I don't live at their house!"

She is not only his sister-in-law, but also his cousin whom he raised.

Yan Renmei said with feigned disappointment, "Then in her heart, I've become an outsider."

"Okay, stop scaring her. I'm staying at their house this time, and I'll go back no matter how late it is."

It's inevitable that the two women would be jealous of each other. Yan Renmei is wary of Jiang Meiying "climbing the social ladder," while Jiang Meiying also dreams of one day "climbing the social ladder." That's just how women are; there's nothing strange about it.

The key lies in how Chen Guangliang maintains this balance and his position at home.

Reuniting with family is always a joyful experience. On the villa's lawn, Chen Guangliang played a soccer game with his eldest son, accompanying him as he grows up.

Seeing this, Yan Renmei stroked her belly. How could she really be a 'harsh wife'?

Time flies, and a month has passed quickly. During this time, tremendous changes have taken place in China's financial sector.

Led by H.H. Kung, the Ministry of Finance of the Southern Whale took advantage of the situation to acquire banknotes issued by the Commercial Bank, Industrial Bank, Siming Bank, and National Products Bank.

Banks have always issued their own banknotes, generally based on the silver standard; however, as these banks used large amounts of silver dollars for lending and investment, the amount of silver they had as collateral naturally decreased.

If a large amount of banknotes were to be exchanged for silver dollars at the bank, it would create a bank run. The bank's banknotes are based on the corresponding "dollar standard." If you cannot exchange them, it would lead to a collapse of credibility and cause even greater market panic.

Ping An Bank does not issue paper currency and is even relatively conservative in lending. Logically speaking, such a bank should basically be operating at a loss and going out of business. After all, based on the deposit and loan interest rates in recent years, a deposit and loan ratio of at least 45% is required to achieve a balance between income and expenditure.

However, with Chen Guangliang at the helm, Ping An Bank has evolved into a company that combines commercial and investment banking, and has naturally remained very successful.

On the eve of the Dragon Boat Festival, Fu Xiao'an of Tongshang Bank requested a mortgage loan of 300 million yuan from the Central Bank, and put together some securities as collateral.

After the Dragon Boat Festival, Fu Xiao'an thought the crisis was over, but suddenly received a phone call from the central bank informing him: "There is no cash in the account."

Fu Xiao'an rushed to the home of Xu Kan, the Vice Minister of Finance, knelt down and begged for help, but to no avail.

In addition, Du Yuesheng and Zhang Xiaolin spread rumors that the Tongshang Bank was about to collapse, causing depositors to withdraw their money in droves.

Beset by internal and external attacks, Fu Xiao'an went to beg Du and Zhang for help in maintaining the situation.

Du and Zhang were just being polite for show.

At this point, Kong Xiangxi added fuel to the fire by devising a strategy of mergers and reorganizations. In this desperate and helpless situation, Fu Xiao'an had no choice but to hand over the balance sheet of the Bank of Communications to Du and Zhang to maintain the situation, before stepping down in disgrace and leaving the Bank of Communications.

Although Fu Xiao'an stepped down, he was given face and was re-elected as the executive director of the China Commercial Bank, a director of the Siming Commercial and Savings Bank and the Jiangnan Railway Company, a supervisor of the Shanghai Construction Bank and the China National Products Bank, the chairman of the Hanyeping Coal and Iron Works Company, and a director of the foreign-owned Yisong Shipyard.

Under the direction of the four major families, Du Yuesheng and Zhang Xiaolin, directors of the China Merchants Bank, "stepped in to maintain order," deciding that the Central Bank, the Bank of China, and the Bank of Communications would each allocate 100 million yuan to resolve the problems of the China Merchants Bank. Only after the Central Bank allocated 100 million yuan did the uproar subside.

On the morning of June 7, Tongshang Bank held a board meeting.

In order to collude with the Green Gang and the Red Gang, the four major families put Du Yuesheng and Zhang Xiaolin in charge of the Commercial Bank. In reality, it was a reward given to the two by the G Party.

The Tongshang Bank was reorganized into a "joint government-business bank," with Du Yuesheng as chairman, Zhang Xiaolin as vice chairman, Fu Xiao'an as executive director, and Gu Yigu as general manager, Hu Meian (Yiyong) as deputy general manager (appointed by Kong Xiangxi's mansion), Li Zuji (son of Li Pingshu, Hu Meian's brother-in-law) as manager, Zhu Meitian as deputy manager, and Hu Yuansheng (Hu Meian's nephew) as assistant manager.

Regarding the share split, after some negotiation, the Ministry of Finance initially agreed to a 10% discount on the existing shares, but later changed it to 15%, meaning that every 100 yuan would be converted into 15 yuan of new shares. China Merchants Bank retained only 525,000 yuan of existing shares, with an additional 3,475,000 yuan of government shares added by the Ministry of Finance. The total government-business shareholding was 4 million yuan, all of which was provided by the Ministry of Finance using an equivalent amount of "Revival Bonds".

In addition to causing a run on the Tongshang Bank, the Guohuo Bank, Shiye Bank, and Siming Bank also experienced runs, and were forcibly brought under the control of the four major families' bureaucratic capital, and were also known as the 'Little Four Banks'.

In just one month, the Ministry of Finance of Shanghai acquired four private banks, which had a huge impact on the financial sector in Shanghai.

Basically, all banks were on edge, and lending business came to a standstill.

For businesses and industrial enterprises without loans, life becomes even more difficult.

This day.

The heads of four banks—Shanghai Commercial Savings Bank, Zhejiang Industrial Bank, Zhejiang Industrial Bank, and Ping An Bank—gathered in the conference room of the Shanghai Commercial Savings Bank building on Ningbo Road for a secret meeting.

People are very wary of the recent actions of the Ministry of Finance of Southern Taiwan, so the original "Three Southern Banks" plus Ping An Bank are preparing to join forces for "joint guarantee".

In fact, Siming Bank was also a bank of the Jiangzhe financial group, and even a bank established by people from Ningbo. However, after Sun Hengfu took over Siming Bank, it gradually developed into a bank that was no longer exclusively owned by people from Ningbo. It lost its early appeal among people from Ningbo. In addition, unlike the "Southern Three Banks" and "Northern Four Banks", Siming failed to establish good alliances with other financial institutions. Therefore, when the crisis came, Siming was unable to support itself.

Now, the "Southern Three Banks" are actually becoming the "Southern Four Banks." The rise of Ping An Bank was something no one expected.

at the meeting.

Chen Guangfu of Shanghai Commercial Savings Bank said, "Given the current business situation, I took the initiative to propose this meeting to discuss this matter. If we are worried about a run on our banks while simultaneously stopping lending, it will not benefit the banks themselves or the development of commerce in Shanghai. Beforehand, all four parties have learned about each other's financial situation, and I think we can work together to achieve synergy."

Of the four banks acquired this time, the other three were northern banks, while only Siming was a southern bank. After all, during the early period of the Beiyang government's rule, the north was developing quite well.

Chen Guangfu's words were exactly what Chen Guangliang wanted to hear. First, he knew that there was nothing wrong with these three banks, and second, he needed the money now and couldn't keep playing defensively.

He immediately said, "We can make a simple 'alliance agreement' whereby if one bank experiences a run, the other three banks must each provide at least 300 million in loans with an interest rate not exceeding 10%."

While other banks have recently run into trouble, Ping An Bank has actually benefited from this, with retail deposits continuing to grow.

However, Chen Guangliang dared not touch the 'deposits' at all; at most, he only wanted to touch the money his family had saved.

In fact, Chen Guangliang was too cautious. The Bank of Communications had about 3000 million in deposits, but 2200 million in loans, which was as high as 70%. Among them, 1300 million were lent to warlords like the Beiyang Army. The rest were all kinds of bad debts. For example, people like Du Yuesheng and Yu Qiaqing owed tens of thousands to hundreds of thousands of yuan, which they simply did not repay.

At the same Siming Bank, Yu Qiaqing and others also owed tens of thousands to hundreds of thousands of yuan and refused to pay, essentially becoming "debt dodgers".

Chen Guangliang was naturally familiar with the conduct of Yu Qiaqing and others, so all loans from Ping An Bank were based on collateral, and there were no credit loans, resulting in very few non-performing loans.

Xu Xinliu, the general manager of Zhejiang Industrial Bank, immediately chimed in, "This plan is feasible. In this way, the 900 million silver dollars can not only be sustained, but it also demonstrates that the four of us are united in our efforts and can help restore our credit. Of course, in essence, the financial situation of our four banks is very good, and there will be no such risk; but if we do this, it means that our four banks can free up their resources to carry out normal business activities."

If banks don't issue loans, what will sustain their business?

Li Ming, the founder of Zhejiang Industrial Bank, finally agreed, saying, "This plan is feasible, and the four of us need to sign the corresponding agreement."

"it is good"

This alliance went very smoothly.

Firstly, the four banks did not have many problems of their own; their alliance was mainly due to external reasons.
The second reason is that four banks want to release some of their funds, but are worried about being targeted by others.

Ping An Bank.

Yan Renmei sat next to Chen Guangliang.

"By the way, Renmei, regarding your five million in savings, I borrowed 150 million silver dollars (200 million Hong Kong dollars) from Citibank. I plan to convert the remaining 350 million silver dollars into silver and transfer it to Hong Kong."

He must either transfer his cash to Hong Kong or convert it into assets before the end of the year to avoid holding too much fiat currency.

Yan Renmei also knew that since the first half of this year, Chen Guangliang had invested 300 million yuan in Xinfeng Textile Factory (50% equity) and had recently been purchasing property assets in Hong Kong. He didn't have much money left, so it was perfectly normal for him to touch her savings.

"If you need to invest this money, you can spend it all!"

Chen Guangliang laughed and said, "We can't invest in the mainland anymore; we can't put all our eggs in one basket. Even if we're going to invest, it will be in Hong Kong."

"Okay, I'll do as you say!"

The silver transferred to Hong Kong this time included 350 million from Yan Renmei (with the remaining 150 million used to pay off debts) and 200 million from Jiang Meiying, which were to be melted down into silver and then transported to Hong Kong.

Since Chen Guangliang has been in the shipping business for many years, he naturally has ways to safely transport goods to Hong Kong, where they may later be exchanged for US dollars and used to purchase more property assets in Hong Kong.

Previously, Chen Guangliang had approximately 1000 million yuan in cash flow, including 500 million yuan in savings from Yan Renmei, 210 million yuan in savings from Jiang Meiying, and nearly 400 million yuan of his own.

Subsequently, he invested 300 million in Xinfeng Textile and 200 million in properties in Hong Kong and Chongqing (50 in Chongqing). Now he only has a little over 550 million in cash flow left.

However, Chen Guangliang was in a better mood after buying the assets!
Soon after, Chen Guangliang and Yan Renmei entered the conference room of Ping An Bank, along with the management team.

Chen Guangliang then said, "Xinfeng Textile still needs about 150 million yuan in funding, mainly for the preparation of the Hong Kong factory. Xinfeng Textile plans to take out a loan from Ping An Bank, which can be paid in installments."

The Hong Kong factory will be built this year, and production is expected to begin in 1937.

Next year, we plan to build a factory in Chongqing, at which time Xinfeng Textile will be able to raise funds on its own.

Chen Guangliang's willingness to gamble a huge sum of money on textiles was naturally based on many considerations:
First, he believed that once the war started, the rear would inevitably have to purchase strategic materials from the concessions, and textiles were one of them;
Secondly, in the next few years, he felt that he could make huge profits just by participating in the speculation of cotton yarn and other supplies, and prices were also high during the isolated island period;

Third, he knew when the concessions were unsafe, which meant he could retreat in time.

The senior management of Ping An Bank had always known that their boss had consistently predicted Japan's inevitable invasion of China, and had been making various arrangements and deployments accordingly. Of course, everyone kept these matters a secret, as revealing them would be seen as spreading rumors and being overly pessimistic.

Ye Ximing stated first: "Tong Runfu is a capable person. Xinfeng Textile is already on the right track. If the market is good, it can recover its costs in two or three years. Therefore, Ping An Bank's support for Xinfeng Textile can be substantial."

The market will be better next year (1936). First, the market will be better, and then the US cotton harvest will be bumper.

Although it was a short period, because so many textile companies went bankrupt, the textile companies that could survive naturally made a lot of money in a year, and the profits were huge.

In the factory's history, it's not unusual to break even in one year, and there are even years when it generates several times the profit.

Of course, with such a large investment in Xinfeng Textile, it's impossible to recoup the investment in just one year.

In their previous life, Zhongnan and Jincheng Bank invested in the textile industry, and their capital increased from 600 million in 1937 to 1600 million in 1941, doubling in just four years. However, with the outbreak of the Pacific War, they naturally suffered heavy losses.

Xia Gaoxiang also said, "Ping An Bank has the strength to fully support Xinfeng Textile. Now that we have formed an alliance with the other three banks, and with the Ministry of Finance of South China Sea shifting its focus from the financial sector to the real economy, Ping An Bank has even greater potential."

"Okay, it's settled then."

Then, Chen Guangliang mentioned another matter: "Times Pictures has assets of over 300 million, very low debt, and stable revenue. Going forward, they may need a loan of 150 million. Times Pictures' future plans are as follows: they have established a complete system in Hong Kong, from production and distribution to cinemas, and are using Hong Kong as a springboard to provide content and develop cinemas in Southeast Asia. Furthermore, Ping An Bank is now a shareholder of Times Pictures and should provide support. This loan may be used to acquire Lu Gen's Phoenix Pictures in Hong Kong."

No one thought that Chen Guangliang was abusing his power for personal gain, treating Ping An Bank as a private bank (which it was, of course); Ping An Bank had just purchased a significant amount of Times Pictures stock (less than 10%), and had also joined the board of directors, so it was naturally aware of the financial situation.

By lending money to related companies, one can not only gain a comprehensive understanding of both parties but also reap double benefits (company dividends and loan interest).

Everyone expressed their support.

The loan of 300 million yuan also alleviated Ping An Bank's 'loan shortage' problem.

If two loans of 150 million each are issued, Ping An Bank's total loans will be less than 1000 million, and total deposits will remain at 2600 million (in reality, they have increased significantly, with 600 million spent on the investment in Xinfeng Textile alone).

Of the 2600 million, only about 700 million belonged to Chen Guangliang's family; the rest belonged to the business community and individual investors.

However, a run on the funds is unlikely at present, so there is no need to worry about anything!
Moreover, the newly formed "Southern Four Banks" alliance and these loans are disbursed in installments, so there is even less chance of any problems arising.

Ping An Bank's strategic planning over the past year has laid a solid foundation for its future development.

Ping An Bank's fixed assets currently include: Ping An Bank Building (Shanghai headquarters), Ping An Bank Building (Hong Kong branch), fifty luxury villas on Xiafei Road, and properties in Hong Kong and Chongqing, with a total value of approximately 550 million.

The investments include: 50% equity in Xinfeng Textile Factory and 10% equity in Times Pictures (these investments were made using depositors' funds).

Therefore, this wave of the 'silver crisis' not only did not cause Ping An Bank any losses, but it also allowed it to seize opportunities and expand its territory. Whether it's real estate or textiles, these investments will soon generate huge profits, and Ping An Bank has effectively become the largest asset holding in Chen Guangliang's hands. (End of Chapter)