I'm in the county town, and you say I'm a big shot?

Chapter 739 Liu Shuai Promoted to Deputy Director of the Banking Regulatory Bureau

"What a joyous occasion! We must properly congratulate you and invite everyone!"

"Not many, just college classmates I see often: Wang Zhiqiang from China Construction Bank, Qin Xue from the Municipal Finance Bureau, Wang Yang who runs a company, and Zhang Dongwen who works at Goldman Sachs."

"OK, I'll be there on time."

Fang Qingye hung up the phone.

"What, do you have a business dinner tonight?" Shi Guangrong asked.

“A college classmate of mine works in the Foreign Bank Supervision Department of the Shanghai Banking Regulatory Bureau. He was promoted to deputy director, so he’s treating us to dinner tonight,” Fang Qingye said.

"Your college classmate? Around thirty, right? You're doing quite well as a deputy director."

"is acceptable."

After returning home from fishing in the afternoon, Fang Qingye greeted Bai Ou, changed her clothes, and prepared to go to the banquet.

"Drink less alcohol," Bai Ou said, holding the baby.

“Of course, you know I hate drinking the most,” Fang Qingye replied.

"But you often drink too much at class reunions!"

"Okay, okay, not this time."

The Lao Kele Shencheng Cai Lujiazui branch is located at the intersection of Lanling Road, not too far from where Fang Qingye lives in Yu Cuiyuan. Yue Kai drove him there.

The environment of Old Shanghai is very distinctive, nostalgic and elegant. Stepping inside is like stepping from the modern and bustling Lujiazui back to the charming "Old Shanghai" of the 1930s and 40s.

The restaurant is decorated in a dark color scheme, and traces of old Shanghai can be seen everywhere - old black and white photos and posters of stars from that time, such as Zhou Xuan, are hanging on the walls.

Fang Qingye pushed open the door to the reserved private room and saw Liu Shuai sitting at the head of the table, with several other people already seated around him.

"Aoba, sit down," everyone greeted him warmly.

Fang Qingye sat down in an empty seat next to her and glanced around. The one with black-rimmed glasses and a serious expression was Wang Zhiqiang, who worked at the Construction Bank. The chubby one with a slicked-back hairstyle and a boss-like demeanor was Wang Yang. The other one, who was cracking sunflower seeds and had short hair, was Qin Xue, who worked at the Municipal Finance Bureau.

There was an empty seat next to him.

"Zhang Dongwen hasn't arrived yet?" Fang Qingye asked.

"Dongwen is always the last to arrive at every class reunion," Qin Xue said quickly.

"Working in investment banking is quite busy, I guess he's working overtime today, I understand," Liu Shuai explained.

"Even busier than our bank president Fang?" Qin Xue joked, looking at Fang Qingye sitting opposite her.

"You know what, I'm actually not busy. I just got back from fishing," Fang Qingye said slowly.

"As expected of bosses, just like Wang Yang, nobody cares what they do. I even went to work overtime this morning," Qin Xue added.

"Hey, Qin Xue, I'm just a small business owner, I can't compare to Qingye," Wang Yang quickly said.

"They're all bosses, unlike us employees."

"Qin Xue, even you, who eats the government's rice bowl, call yourself a wage earner. Then what are the rest of us? Just cattle and horses?!" Wang Zhiqiang blurted out, and everyone burst into laughter.

As everyone was talking, the door to the private room was pushed open, and Zhang Dongwen came in carrying a bag and wearing a gray office lady suit, looking like she had just come from the bank.

"Sorry, I'm working overtime today, there's a lot to do," Zhang Dongwen apologized as she came in.

"It's alright, there's nothing urgent anyway, everyone's just chatting." Once everyone was there, the dishes were served.

Braised pork belly, stir-fried shrimp, and crab roe tofu are all classic Shanghainese dishes. The sauces are rich and the flavors are sweet and savory, making them quite authentic.

The drinks were Mengzhilan, and the two girls, who don't drink alcohol, took a large bottle of Coke. Everyone ate and chatted, and of course, they didn't forget to toast Liu Shuai first to congratulate him.

"This toast must go to Director Liu! From now on, someone will finally take over the responsibility of paying the bill at our gatherings!"

"Haha, cheers! I wish Director Liu all the best in his promotion, and I hope we can all benefit from it!"

“That’s right, that’s right, Director Liu, do you think my little company could also benefit from this and get some loan support? You’re a director now, one phone call and which bank manager would dare not agree!” Wang Yang said with a grin as he raised his glass.

"Come on, Wang Yang, what's a deputy section chief? People say there are section chiefs everywhere in Beijing and managers all over the streets in Shanghai. It's the same in Shanghai... Besides, if you need a loan, aren't there three big shots from the bank sitting right in front of you? Why would you come to me if not them?" Liu Shuai smiled and looked at the others.

“I don’t have that authority. I’m just the head of the business department of a branch. Credit work is not under my jurisdiction,” Wang Zhiqiang replied with his usual stern face.

“If even Wang Zhiqiang can’t do anything, then I can’t either. I don’t touch the lending business at all,” Zhang Dongwen added with a smile.

"It seems that we can only rely on our President Qingye to handle this matter!"

"I'll follow Director Liu's arrangements," Fang Qingye replied deliberately in a serious tone.

Everyone burst into laughter again, creating a lively atmosphere.

In fact, Wang Yang didn't really want a loan; he was just congratulating Liu Shuai.

After a few rounds of drinks, the conversation turned to finance, and then Liu Shuai said, "Hey, have you guys seen the 'Guidelines for Risk Management of Off-Balance Sheet Business of Commercial Banks (Revised Draft for Comments)' issued by the China Banking Regulatory Commission?"

"I haven't seen it. I guess it hasn't been relayed to our branch level yet," Wang Jianqiang replied, adjusting his glasses as usual.

"I didn't see it either, and I probably don't even have the right to see it," Zhang Dongwen said with a charming laugh.

"Who said that?" Liu Shuai looked at her: "Goldman Sachs China has a lot of off-balance-sheet business, including financial derivatives trading, securities underwriting commitments, asset management plans and private banking client trading and other intermediary services. Dongwen, you are engaged in financial derivatives trading, you must have seen it."

“Then I will study hard,” Zhang Dongwen said immediately.

Off-balance-sheet business of commercial banks refers to business activities that are not included in the balance sheet according to current accounting standards, but may affect the bank's profit and loss and risk profile. These mainly include guarantee business, financial asset servicing, and derivative transactions, and are a source of profit growth for modern banks.

The term "off-balance sheet" refers to the fact that these transactions are not included in the balance sheet from an accounting perspective, and from a risk perspective, they are considered contingent liabilities and potential risks.

Off-balance-sheet business has become a focus of regulation because it harbors huge risks, such as circumventing regulations and becoming a "shadow bank."

Fang Qingye probably knew this, and seeing Liu Shuai looking at him, he could only say, "Don't say that, I didn't see it either."

"Holy crap... Qingye, you're a bank manager and you haven't seen this message yet?" Liu Shuai's tone was filled with surprise, and his expression became serious.

"Qingye, you really need to take a good look. Although this is just a revised draft for public comment, let me tell you guys from the banking system something—the government is about to start a crackdown, and it will be based on this draft!"

Wang Zhiqiang seemed to have no reaction, but Fang Qingye's expression became serious, and Zhang Dongwen, who was sitting next to her, turned pale instantly.

"Hey... Liu Shuai, can you stop spreading alarmist rumors? Look how scared Dongwen is." Qin Xue, who hadn't said much until now, interjected at the right moment, her tone gentle but with a hint of warning.

"Alright, alright, let's not talk about it anymore. We won't mention work again today." Liu Shuai immediately understood, then raised his glass and smiled, "Come on, let me toast everyone again to thank you all for coming..."

The party lasted until almost 9 p.m. before it ended and people went home. Some took taxis, while others found designated drivers. Yue Kai waited outside the whole time. Fang Qingye said goodbye to her classmates and then left.

Sitting in the car, Fang Qingye recalled what Liu Shuai had just said and felt it necessary to ask again, so she took out her phone.

(End of this chapter)