Returning wealthy individuals develop their hometowns and become rich in the 1980s

Leaving aside the three Chen brothers in the car, who were discussing the future development of Tuocheng with great enthusiasm, back at the Tuocheng Municipal Government compound, after Chen Dong left, Wu Nansheng kept Ding Zhuo behind and also called in Zhou Haimin and Guo Hengwen, the two top officials of Tuocheng, for a closed-door meeting.

There were only these four people in the room. Even the secretary and the accompanying ministerial officials and experts were not qualified to be present at this closed-door meeting.

Wu Nansheng sat on the sofa with his usual warm smile. Ding Zhuo was to his left, while Zhou Haimin and Guo Hengwen sat next to him. Wu Nansheng stubbed out his cigarette in the ashtray, coughed lightly, and said, "What are your opinions on Chen Zaidong's proposal to establish an offshore financial trading center in Tuocheng? Share your thoughts and let me hear different perspectives."

Neither Zhou Haimin nor Guo Hengwen spoke immediately. They both looked at Ding Zhuo, the provincial party secretary. Ding Zhuo coughed lightly and said, "Old Wu, I personally support Comrade Chen Zaidong's proposal for an offshore financial center, but we still need to treat it with caution."

"Hmm," Wu Nansheng nodded, signaling Ding Zhuo to continue. Ding Zhuo carefully chose his words, "Although Comrade Chen Zaidong has invested a lot of money in our country and launched many projects, we must still maintain a cautious attitude of 'not having the heart to harm others, but not being without the heart to guard against others.'"

"We don't know his true intentions yet, but this offshore financial trading center is exactly what our country needs right now," Ding Zhuo said, looking at Wu Nansheng. "Old Wu, we've been out of touch with the international financial system for too long, so long that we now have to learn through trial and error."

"The country lacks talent familiar with the operation of the international financial system, which is our weakness. Comrade Chen Zaidong's project can help us train a large number of people familiar with international financial operations, but it is crucial that they remain under the control of the central government!"

"Well, what about you all? Speak up," Wu Nansheng listened quietly to Ding Zhuo's words, without immediately expressing his own opinion, but instead looked at Zhou Haimin and Guo Hengwen.

"Mr. Wu, let me say a few words first," Guo Hengwen smiled at Zhou Haimin. "As the person directly in charge of the Tuocheng Municipal Government, I support this idea. I think Comrade Chen Zaidong's proposal to introduce overseas funds to Tuocheng and use Tuocheng as a springboard to further participate in our country's reform and opening up is very forward-thinking!"

"I have talked a lot with Comrade Chen Zaidong about the topic of reform and opening up. He said that our country's current GDP is not enough to enable all the people of China to live a prosperous life, so it is imperative to borrow money."

"But Comrade Chen Zaidong also said that the premise of debt-financed development is that we must use our resources wisely. While investing, we must also think about how to maximize the return on our investment. We must not squander these precious foreign debts on endless road and real estate construction."

"Instead, we need to develop our weak light industry and semiconductor industry, and take advantage of the current transformation and upgrading of our country's heavy industry in the north to quickly establish a complete supporting industrial chain, conduct large-scale domestic and foreign distribution to generate profits and pay off debts, so that foreign investors in Southeast Asia can see a return on their investment, and only in this way can we sustainably revitalize the soon-to-be-established offshore financial trading center."

Guo Hengwen adjusted his posture as he spoke, “Mr. Wu, I wholeheartedly agree with what Comrade Chen Zaidong said. Our Guangdong province, especially Tuocheng, does not have the heavy industry conditions of the north. We should vigorously develop light industry, especially the electronics industry, particularly the semiconductor industry, which Comrade Chen Zaidong proposed. This will be a major international trend in the future. I believe in Comrade Chen Zaidong’s vision.”

Wu Nansheng nodded in agreement, leaving only Zhou Haimin. Zhou Haimin said, "Old Wu, I reiterate my previous statement: I fully support Comrade Chen Zaidong's plan, and I hope the Central Committee can send relevant professionals to Tuocheng to provide guidance. The Tuocheng Municipal Party Committee, the Municipal Government, and other departments will certainly do their utmost to ensure the smooth implementation of all supporting measures!"

"Good, it seems you all support Comrade Chen Zaidong's plan. Very good. I will truthfully reflect the opinions of your local comrades to the central government. How about this, after inspecting the reconstruction of the old city tomorrow, let's go directly to Xiaochi's Jinbu Industrial Park to take a look," Wu Nansheng said with a smile.

"Okay, Mr. Wu, I will inform Xiaochi to make arrangements for the reception," Zhou Haimin nodded with a smile.

After returning from the city, Chen Dong did not go to Jinbu. Instead, he waited until Chen Zaisheng returned from get off work at 5:30 pm and they all ate together before Chen Dong told Chen Zaisheng about meeting Wu Nansheng that day.

"Ah Dong, how likely is it that your suggestion can actually be implemented in our Tuocheng?" Chen Zaisheng swallowed the food in his mouth. "Don't end up doing all the work for someone else."

Chen Dong shook his head confidently and said, "No, I can still say a few words in the International Chaozhou Chamber of Commerce. As long as the central government clearly wants to do it, I will formally propose my plan to the overseas Chinese in Southeast Asia at this year's International Chaozhou Conference."

Chen Dong said that he was not bragging when he said he could say a few words at the International Chaozhou Chamber of Commerce. He was being modest. Given the wealth and influence of his grandfather Chen Shengyu back then, many people in the International Chaozhou Chamber of Commerce had received favors and kindness from his grandfather.

In the 1980s, Southeast Asia had not yet suffered from the strangulation of Western capital such as America. At this time, Chinese businessmen invested in China, which had just opened up, with a kind of hometown enthusiasm of "returning home in glory" and a stubbornness of not seeking returns.

Throughout the 1980s, Chinese businessmen in Southeast Asia almost single-handedly occupied the quota for foreign investment in China at that time. Western capital was still taking a wait-and-see attitude, while Chinese businessmen took the lead in entering the market, and it was almost a case of "no overseas Chinese are happy".

However, with the entry of large Western capital companies, some local governments are more enthusiastic about giving multinational Western companies more favorable treatment, while they are lukewarm towards Chinese businesses that share the same language and culture.

In addition, some local governments treat businesses differently, granting quick approvals to large Western-owned companies while imposing cumbersome and inefficient approval processes on Chinese businesses. Some village officials, driven by greed, resort to all sorts of deceitful and fraudulent tactics, colluding with villagers to embezzle the assets of Chinese businesses, which invisibly increases investment risks and costs.

Tuocheng was originally a place on which the central government placed high hopes, expecting it to attract a large number of overseas Chinese from Southeast Asia to return and invest. However, the local officials in Tuocheng engaged in short-sighted and exploitative practices, scaring away the overseas Chinese who still had expectations for their hometown.

Furthermore, with the passing of the older generation of overseas Chinese, the second generation of overseas Chinese who grew up in Southeast Asia no longer have the same attachment to Tuo City as their predecessors, and are even less likely to return to invest.

It can only be said that Tuocheng has missed one opportunity after another to develop!