Sharpening the Blade Against the Red Wall: From Hong Kong to Handong

In mid-July 2014, Kyoto was in the height of summer, the heat intense, and the lush greenery along Chang'an Avenue couldn't shield the city from its hustle and bustle. Inside the Ministry of Finance's auditorium, the air conditioning was slightly cool, and the atmosphere was solemn yet warm. Zhou Jin's inauguration ceremony was held here strictly according to organizational procedures—a leader from the Organization Department of the Central Committee of the Communist Party of China made a special trip to attend, and more than 200 people, including members of the Ministry of Finance's leadership team, principal leaders of various departments and directly affiliated units, gathered to witness this important moment.

At the beginning of the meeting, a leader from the Organization Department of the CPC Central Committee stood up and read out the appointment document from the Central Committee: "After research and decision by the Central Committee, Comrade Zhou Jin is appointed as Executive Vice Minister and Deputy Secretary of the Party Group of the Ministry of Finance (at the ministerial level)." As soon as he finished speaking, thunderous applause broke out in the room, filled with expectations for this "trillion-yuan city builder" and "hero of the financial war".

Subsequently, leaders from the Organization Department of the CPC Central Committee provided a detailed introduction to Zhou Jin's resume and achievements, highlighting his frontline command performance in the 1998 Hong Kong financial defense battle and his eight years of dedicated work in transforming Yancheng from a resource-dependent city into a "Pearl of Northwest China" after arriving in Shaanxi in 2006. They emphasized that "Comrade Zhou Jin possesses top-tier financial expertise, practical experience in local governance, and macro-level coordination capabilities, making him a versatile talent urgently needed for current fiscal reform and development. We hope he will quickly integrate into the team, leverage his strengths, and inject new momentum into the work of the Ministry of Finance."

Minister of Finance Sima Yue then spoke, dressed in a light-colored suit, his face gentle yet exuding a composed aura. "A warm welcome to Comrade Zhou Jin to the Ministry of Finance family!" Sima Yue's voice was deep and powerful. "Comrade Zhou Jin and I are old comrades-in-arms—during the Hong Kong financial defense battle in 1998, I went to Hong Kong as the head of the Ministry of Finance's working group to provide support. I personally witnessed his professional responsibility in remaining calm and implementing precise policies under pressure, and at that time I asserted that he was a pillar of the nation capable of great things. Sixteen years later, being able to work with Comrade Zhou Jin in the Ministry of Finance is both a wise decision by the organization and an honor for the Ministry of Finance."

Sima Yue then shifted the topic to current work: "The current international economic situation is volatile and unpredictable, and domestic fiscal reform has entered a critical phase. The tasks of refining budget management, preventing and controlling financial risks, and promoting international financial cooperation are arduous and demanding. I hope Comrade Zhou Jin can quickly adapt to her new role, familiarize herself with the business, and bring the pragmatic spirit of Yancheng to the Ministry of Finance, working together with the team members to overcome difficulties."

Zhou Jin stood up and expressed her gratitude, her tone firm yet humble: "Thank you for the organization's trust, thank you for the guidance of the leaders of the Organization Department of the Central Committee, and thank you for the welcome from Minister Sima and all my colleagues. The days and nights I spent fighting alongside Minister Sima in Hong Kong 16 years ago are still vivid in my mind. I feel extremely honored and close to working under my old leader."

"The Ministry of Finance is the core department for national macroeconomic regulation, bearing heavy responsibilities and a glorious mission." He continued, "I will do three things: First, uphold a firm political stance, resolutely implement the central government's decisions and plans, and ensure that fiscal work always serves the overall national development; second, humbly learn from Minister Sima, veteran comrades, and key personnel to quickly address shortcomings in macroeconomic and financial work; third, adhere to practical work and responsibility, focus on key tasks and work diligently, avoiding superficiality and empty rhetoric, and living up to the trust of the organization and the expectations of everyone."

After the inauguration ceremony, Zhou Jin, following organizational practice, took the initiative to visit Sima Yue in the minister's office.

"Minister Sima, I'm sorry to bother you." Zhou Jin knocked on the door and entered, holding a small gift box in her hands. "Back in Hong Kong, thanks to your strong support in fund allocation and policy coordination, we were able to successfully repel international speculative capital. This is a local specialty of Yancheng, a few packets of dried apples and a can of millet, all handmade by the people of the old revolutionary base area. Please have a taste; it's a small token of my remembrance of the eight years I spent in the old revolutionary base area."

Sima Yue smiled as he accepted the gift box and placed it on the corner of his desk. "You're still so nostalgic and pragmatic. Back in Hong Kong, you were a daring and impulsive young man. Now you're much more composed. No wonder you've led a city worth trillions." He gestured for Zhou Jin to sit down and personally poured him a cup of iced tea. "I've long heard about Yancheng's development miracle. You transformed a resource-based city into the 'Pearl of the Northwest' in eight years. This pragmatic spirit is exactly what the Ministry of Finance needs right now."

The two recalled the tense years of the battle to defend Hong Kong's financial system. Sima Yue remarked with emotion, "At that time, international speculative capital came in aggressively. Your strategy of 'precise allocation of foreign exchange reserves + asset hedging at the bottom' saved us from many detours. Now, the Ministry of Finance is facing tasks such as controlling local government debt and international financial cooperation, which are perfect opportunities to leverage your expertise."

Zhou Jin said sincerely, "Back then, I was able to carry out my work freely thanks to your guidance and supervision. Now that I'm at the Ministry of Finance, there's still a lot I need to learn. I hope you will continue to provide guidance and criticism in my future work."

"Let's learn from each other and make progress together." Sima Yue waved his hand, his tone solemn. "The Ministry of Finance team has always been united. I have already made preliminary considerations about your division of labor, and I will officially announce it at the ministry meeting this afternoon. You need to familiarize yourself with the situation of the departments under your supervision as soon as possible, go down to conduct more research, understand the actual situation, and communicate with me at any time if you have any ideas or questions."

"Okay, thank you, Minister Sima." Zhou Jin stood up to take his leave, feeling more at ease—with the support and trust of his former leader, he was more confident in integrating into his new position and carrying out his new work.

At 2 p.m., the Ministry of Finance's ministerial meeting convened on time. All members of the leadership team were present, and Minister Sima Yue chaired the meeting.

"There are two main things to discuss at today's departmental meeting: first, to welcome Comrade Zhou Jin to the team; and second, to clarify his responsibilities." Sima Yue looked at Zhou Jin, "Comrade Zhou Jin, please formally introduce yourself to everyone."

Zhou Jin stood up and nodded to the team members: "Hello everyone! I am Zhou Jin, and I am very happy to work alongside you all. I will familiarize myself with the business as soon as possible, humbly learn from everyone, and I also ask for your support and cooperation."

The team members all expressed their welcome. Several vice ministers who had participated in the defense of Hong Kong's financial system or had worked with Yancheng City took the initiative to exchange past cooperation experiences with Zhou Jin, and the atmosphere at the scene was harmonious.

Subsequently, Sima Yue announced the division of responsibilities: "After deliberation by the leadership team and filing with the Organization Department of the Central Committee, Comrade Zhou Jin will be in charge of the Budget Department, the Treasury Department, the Department of International Financial Cooperation, and the Department of Financial Risk Prevention and Control. At the same time, she will assist me in overseeing the daily work of the Party Group of the Ministry and the overall planning of national fiscal revenue and expenditure. These are the core businesses of the Ministry of Finance, requiring both macro-level planning capabilities and professional practical experience. I believe Comrade Zhou Jin is capable of fulfilling these responsibilities."

This division of responsibilities reflects the central government's high level of trust in Zhou Jin—who is in charge of core areas of the "purse strings" such as the budget and the national treasury—and also precisely matches his professional strengths—international financial cooperation and financial risk prevention are his "old expertise".

Zhou Jin stood up and stated, "Thank you for the team's trust. I will certainly live up to the expectations placed upon me, quickly familiarize myself with the responsibilities under my charge, strengthen communication and coordination with various departments, and ensure the smooth progress of all tasks. I also sincerely request that my colleagues provide more guidance and supervision in the future to help me integrate into my role more quickly."

After the meeting, Zhou Jin immediately convened a meeting with the heads of the relevant departments to understand the progress of various tasks, existing problems, and next steps. Looking at the thick stack of business documents on the table and listening to the detailed reports from the department heads, Zhou Jin knew that new challenges had arrived, but he was full of confidence.

Sixteen years ago, he calmly faced challenges on the financial battlefield in Hong Kong; eight years ago, he worked diligently to build the nation on the Loess Plateau in Northwest China; now, on the core stage of the Ministry of Finance's national financial work, he will carry the entrustment of his former leaders, the trust of his team, and his original aspiration of hard work to write a new chapter in the field of macro-finance.