A century-old wealthy family that rose from Shanghai

In late October 1938, China lost Wuhan and Guangzhou in succession.

However, despite the fierce fighting of the Chinese army, the Chinese government did not yield. After the fall of Wuhan, the government declared that "temporary changes in advance or retreat must not shake our country's determination to resist the war" and that "the gain or loss of any city must not affect the overall situation of the war of resistance." It expressed that it would be "more sorrowful, more persevering, more down-to-earth, more diligent, and more courageous" to devote itself to a comprehensive and protracted war of resistance.

Therefore, although Japan won these two wars, it did not achieve its strategic goal of striking a blow to the Chinese people's determination to resist Japan. The next step marked a turning point for Japan, shifting from strategic offense to strategic conservatism.

However, the fall of Guangzhou also meant that the Yuehan Railway could no longer provide China with supplies (mainly military equipment). It should be noted that from January to October of this year, the Guangzhou-Kowloon Railway and the Yuehan Railway maintained a total transport volume of 1.2 million tons of imported materials, all of which were imported from Hong Kong as a base, including military supplies, construction materials, and equipment.

Although this main transport line was lost, there were still three routes for transporting imported supplies to the anti-Japanese war zone: the Yunnan-Vietnam Railway connecting to French Vietnam, with a monthly transport capacity of 15000 tons; the Burma Road connecting to British Burma, with a transport capacity of 10000 tons; and the Northwest Route for receiving Soviet Russian munitions, with a transport capacity of 500 tons.

"Boss, we have opened up a 'Xiangshao Road' so that military supplies, textiles, and medicines can still be transported to the rear."

In a conference room in Hong Kong, Wu Hao of Global Shipping is giving a report.

Chen Guangliang listened attentively, looking at the route on the map.

"Shayu Chong, a small fishing port less than 20 kilometers from Hong Kong, was the most famous transshipment station for Hong Kong supplies. Located at the northern end of Dapeng Bay, Shayu Chong is just a stretch of sandy beach among the mountains, where large and small ships cannot dock. However, it faces Tai Po Market, the most prosperous town in the New Territories, across the sea, making it the first choice for breaking through the Japanese blockade. We Hong Kong sailors used the cover of darkness to sail small steamers and use small boats to connect and land on the beach. After landing, the goods were carried by manpower for 80 miles, connected to the Danshui River, loaded onto small boats, and transported upstream to the Dongjiang River, reaching Heyuan County in the mountainous area of ​​northern Guangdong. After landing, the goods were carried again to Laolong Town, a transportation hub, and connected to the highway, where they could be transported directly by car to Shaoguan, the wartime capital of Guangdong Province, and then into the mainland."

Chen Guangliang inquired, "How far is it? What about the transport capacity?"

His Xinfeng Textile received many orders for textiles for military training in the rear, so he naturally had to deliver them on time.

In addition, Global Trade now also engages in some pharmaceutical and equipment procurement business.

Wu Hao said, "This winding route, which uses both small boats and human porters, is 460 li long. It is mainly operated by the Guangdong Postal Transport Management Office, with stations set up in sections and unified management. There are several thousand porters and more than a thousand transport vehicles running on the Laolong Highway."

The fact that Japan was able to organize this 'transportation line' in such a short time is clearly one of the reasons why it was impossible for Japan to truly occupy China.

In fact, even if Japan strategically controlled Wuhan and Guangzhou, it essentially only controlled the railway and major highway areas, and couldn't really take care of many other places.

From Shanghai in the north to Guangzhou Bay (now Zhanjiang) in the south, Hong Kong had numerous shipping routes connecting it with ports of all sizes along the southeast coast. Most of the larger commercial ports had regular passenger and cargo ships, while smaller fishing ports could be navigated by motorboats or small electric dinghies of tens of tons. The waterways were clearly mapped, and the boatmen were very familiar with the routes.

After the outbreak of the War of Resistance against Japan, about 1.6 Hong Kong seamen resigned due to strikes and refusal to board Japanese ships. Most of the Hong Kong seamen came from the coastal areas of Guangdong. After returning to their hometowns, they opened up hundreds of secret waterways between Guangdong and Hong Kong.

Chen Guangliang nodded and said, "This is a good thing!"

Following that, Chen Guangcong also reported: "Our textile military training supplies and other trade goods are mainly shipped from Hong Kong to Haiphong, French Vietnam, and then transported to the rear by rail. Our Global Shipping also has an office in Haiphong."

Today, the Burma Road is less important and carries less traffic than the route that involves sea freight to Haiphong and then the Yunnan-Vietnam Railway.

Chen Guangliang nodded and said, "We've been planning for so long, and we have contingency plans for all aspects, so we won't be caught off guard and everyone will be on their toes."

"Yes, boss"

For over a year, Chen Guangliang organized 'trade and transportation' in Hong Kong, involving not only textiles but also commodities such as gasoline and medicine. He hadn't originally intended to make money this way, but when Song Ziliang approached him in Hong Kong, Chen Guangliang took a public service job to help transport some 'military supplies'.

Global Shipping itself owns about a dozen ships of various sizes (seven of which are over 1,000 tons and the rest are small ships), and with its considerable expertise in coastal shipping, it is a formidable transportation force.

After discussing and agreeing on the plan, everyone got busy.

Like Chen Guangliang's younger brother, Chen Guangcong, who immediately joined the project team for the 'Hong Kong to Haiphong and Yunnan-Vietnam Railway' after returning from overseas in September, and personally went to Haiphong (Vietnam) to supervise the project.

At the same time, the Nationalist government's military headquarters and command centers also moved from Wuhan to Chongqing, signifying the completion of the "relocation of the capital." Prior to this, Wuhan was the true industrial center in the rear.

Thus, the industrial importance of Sichuan is self-evident.

Chen Guangliang's four factories naturally received exceptional attention from the South Whale government.

Among them, the alcohol plant's power alcohol (mixed with a certain amount of gasoline for use in automobiles) and anhydrous alcohol (for aviation use) were directly designated for supply to the military and could not be sold outside the military.

This is naturally a good thing, as it can both support the war effort and be profitable.

In fact, Chen Guangliang initially invested a total of about 800 million yuan in the four factories in Sichuan. He was only concerned about "breaking even" at the beginning. Later, due to the huge profits made by Ping An Bank and Xinfeng Textile in the concession area and Hong Kong, Chen Guangliang adopted an attitude of "it doesn't matter".

But after all, it was a capitalist society, and the Nationalist government's procurement still yielded considerable profits; making money was still quite easy.

this day.

Ye Ximing and Zhang Shounian, who came from Shanghai to Hong Kong, arrived at the Ping An Bank Building on Des Voeux Road to give a work report to Chen Guangliang.

For the past year or so, Chen Guangliang has been in Hong Kong, but through these management teams, he has been able to manage multiple companies with assets worth tens of millions.

Zhang Shounian reported first: "According to the statistics of Manager Tong and Assistant Manager Li, the profit of Xinfeng Textile this year (1938) is expected to be around 820 million. This includes the profits of the Hong Kong and Chongqing factories, after deducting the corresponding investments, including the 20 subsidy to Xinfeng Textile College, and reserving some funds. Xinfeng Textile is preparing to distribute 700 million yuan in dividends."

Of the 700 million yuan, 350 million yuan belonged to Chen Guangliang.

Although Chen Guangliang still owes Ping An Bank 450 million yuan, the profits from the sugar factory and alcohol factory will be able to pay it all off next year.

Ye Ximing added from the side: "Now cotton prices are 1.3 times higher than before the war, but cotton yarn prices are 2.2 times higher, resulting in a significant increase in profits for the textile industry. As of November, there were 4000 factories in the concessions, and the number of workers has increased from more than 30,000 at the beginning of the year to more than 120,000 now. Our Xinfeng Textile alone employs 7000 people in its two factories in Shanghai."

Chen Guangliang was very satisfied with what he heard; the profits in the textile industry were so high, which was within his expectations.

In reality, the exchange rate of the fiat currency only started to fall in August. Currently, 1 fiat currency is equal to 16 US cents, which is equal to 8.25 pence (i.e., 100 fiat currencies are equal to 16 US dollars, which is equal to 8.25 pounds).

What about stocks?

Ye Ximing immediately replied, "Since the exchange rate of the legal tender became unstable in March, funds have been pouring into the stock market. Almost all the stocks we have invested in this year have doubled in value. Moreover, we did not buy stocks issued in legal tender, so the value is real."

Chen Guangliang nodded. In this way, the profits earned this year were basically unaffected by the devaluation of the legal tender.

then.

Ye Ximing stated, "Ping An Bank has begun selling off commercial buildings on Duyou Street in Chongqing. Due to the tenfold increase in land prices, this sale is expected to generate 500 million yuan in revenue. The buyers are primarily banks and large corporations." In Chongqing, Ping An Bank invested 60 yuan to purchase the land, with subsequent construction costs also around 60 yuan. While the land price increased tenfold, the building's value didn't increase tenfold.

Zhang Shounian added: "It's just that the money earned in Chongqing is now very difficult to transport to the concessions and Hong Kong, especially after the fall of Wuhan and Guangzhou."

Chen Guangliang had actually considered this point as well. He could make a lot of money in Chongqing, and he wondered how to get it to Hong Kong. Now that the Japanese had occupied many places, it would be difficult to transfer large sums of money, given the large number of Japanese and puppet troops and local thugs.

However, this did not stump Chen Guangliang. He said, "Of course, we should buy gold on the black market, deposit it in Chongqing Ping An Bank, and then consider transportation after the war."

Ye Ximing nodded and said, "That's what we think too."

As long as the boss isn't in a hurry to transfer funds to Hong Kong, there shouldn't be much of a problem.

But Chen Guangliang said, "Next, we will convert next year's profits into foreign exchange and gold and transfer them to the United States. I hope to convert another 1000 million yuan, or 160 million US dollars, and transfer it to the United States through Chase Bank."

今年平安银行（大陆）的收入大概是：新丰纺织分红350万、租界地产租金100万、重庆地产售出收益500万、股票账面升值300万、银行正常盈利80万.
Ye Ximing then said, "Next year, Xinfeng Textile's dividends will be at least 400 million, plus the rental income will also increase, and the bank's normal business will also increase, adding up to 700 million in income. If we exchange 1000 million recently, with stocks as collateral, it shouldn't be a big problem. If necessary, funds from Chongqing can also be transferred."

Chen Guangliang said, "You've forgotten that when necessary, stocks and real estate need to be cashed out. The concessions will definitely be occupied by the Japanese, and Germany's annexation of Austria already means that a world war is inevitable. Only the United States has no enemies on its own soil, so we must protect Ping An Bank and have enough capital to rise after the war."

"Understood, we'll head back to Shanghai to prepare."

Chen Guangliang nodded. In fact, exchanging 1000 million now means first using depositors' funds to exchange for US dollars, and then the money transferred from Ping An Bank will be added later.

As long as there is no squeeze or lifting, there shouldn't be a big problem.

Of course, even if a bank run occurs, Ping An Bank's stocks and real estate will immediately become 'hard currency', but this can only be said under favorable conditions.

Last year, 500 million could be exchanged for 150 million US dollars, but this year it takes 1000 million to exchange for just over 150 million US dollars.

This means that the legal tender has been devalued by nearly half. In other words, 100 legal tender could buy 2 cows, but now it has been devalued to the point that 100 legal tender can only buy 1 cow.

This is only because the South Whale government received help from the UK and the US, injecting £1000 million and $500 million respectively, plus its own funds, to maintain the current exchange rate.

Chen Guangliang calculated that after Ping An Bank exchanged US dollars this time, it was equivalent to having 300 million US dollars in Chase Bank; in addition, Ping An Bank also deposited 11.8 taels of gold (worth 450 million) in Chase Bank.

Of course, the 11.8 taels of gold belonged to the Chen Guangliang family.

Ping An Bank (Chongqing) expects to make a profit of 500 million yuan after selling its surplus real estate, which it will immediately exchange for gold, effectively equivalent to 75 US dollars.

Sudden.

Chen Guangliang said, "Wait, 1000 million yuan is not enough. I estimate that the yuan will depreciate further next year, so let's exchange it for 2000 million yuan in US dollars. However, Ping An Bank cannot afford such a large funding gap, so we will gradually sell the residential rental properties, which is expected to bring back more than 1000 million yuan."

Before the war, these properties were worth only 450 million, but now they are certainly worth over 1000 million.

Chen Guangliang suddenly realized that the legal tender might depreciate significantly again in 1939, so it would be better to sell the property now while the price of the concession property had more than doubled.

Zhang Shounian said, "Exchanging all of it for US dollars would expose too much risk. We can exchange a portion for gold and entrust it to Chase Bank to be deposited in the United States."

"feasible"

In this way, Ping An Bank only has $450 million in assets deposited in the United States. Of course, there will definitely be more later.

Finally, Chen Guangliang said, "Of the dividends from Ping An Bank, I have 350 million. Please exchange them for gold and ship them to Hong Kong. As for the 450 million loan I owe Ping An Bank, the sugar factory and alcohol factory are generating profits continuously, which are being used to repay my debt."

"Okay, we'll contact Manager Cao and the others right away to get in touch on the financial matters."

Ye Ximing and others knew that these matters were actually managed by Ping An Bank to handle Chen Guangliang's business.

Zhang Shounian then offered a suggestion, saying, "Boss, the sugar factory and alcohol factory are expected to generate substantial profits in the future. You could consider selling these two factories to Ping An Bank after you have paid off your debts to further enhance the 'trust' effect."

Upon hearing this, Chen Guangliang began to seriously consider it.

Given the current situation of sugar and alcohol factories, they can earn more than 500 million yuan in profit in a year, after all, the sugar industry in Guangdong Province and Shanghai City has been completely destroyed.

If he sells it to Ping An Bank next year, he can get a large sum of money to exchange for gold.

The property was sold to Ping An Bank, but it is still his property, only it was purchased with depositors' funds.

Of course, banks cannot directly operate industries, so they all operate through 'trusts'. Even Hsin Feng Textile Industry was no exception, as it was managed by a management team headed by Tong Runfu.

“That’s feasible. I will have Cao Mingxian and his team cooperate to let Ping An Bank understand the financial situation first. Once things are ready, Ping An Bank will invest in the company through a trust arrangement.”

"Ok"

After the meeting, Ye Ximing and Zhang Shounian also took the opportunity to inspect Ping An Bank in Hong Kong.

At this time, Ping An Bank in Hong Kong had already started operating more independently from Ping An Bank in Shanghai, and its business was naturally booming, investing in real estate, lending to factories, and so on.

After the two left, Chen Guangliang pondered in his office.

After exchanging RMB 2000 million for US dollars or gold, Ping An Bank had assets worth US$450 million in the United States; the Chen Guangliang family had gold worth US$450 million; and Chen Guangliang personally had US$680 million in the United States, which had appreciated to approximately US$1000 million.

This means that Chen Guangliang and his company already have a fortune of US$1900 million in the United States, which is quite substantial.

After all, in my previous life, by 1941, there were only a little over 4 million Chinese in the United States.

In fact, this $1900 million is only a portion of Chen Guangliang's assets; he also has many assets in mainland China and Hong Kong.

In legal tender terms, Chen Guangliang's assets have exceeded 100 million yuan. (End of Chapter)