Huayu: Returned Overseas Chinese

Chen Jingming took two newspapers from the newspaper rack in the lobby, sat down on the sofa in the waiting area, and casually started flipping through them.

About ten minutes later, a middle-aged man in a suit and glasses walked over and stood about a meter away from Chen Jingming, asking, "Chen Jingming? Mr. Chen?"

Upon hearing this, Chen Jingming looked up and, realizing he didn't recognize the person, guessed it was the supervisor the staff member had mentioned earlier. He stood up, nodded, and said, "I am Chen Jingming. May I ask who you are?"

"Hello, I'm Zhang Min, Deputy Director of the Commercial Section of the Embassy," Zhang Min said with a smile, extending her hand. Chen Jingming shook her hand in return, then gestured for them to sit down facing each other.

"Mr. Chen, I heard you came here to inquire about investing back in China?" Zhang Min asked directly.

"Hmm." Chen Jingming responded softly, then took out the investment documents and proof of funds, placed them on the coffee table, and pushed them towards Zhang Min. Zhang Min glanced at them but didn't take them. Instead, she said:

"I won't look at those. Your grandfather, Mr. Chen Yueshan, is an old acquaintance of ours. He has donated a lot of money to education in China, and we have records of it here. We also know your identity, so you don't need to provide these supporting documents."

Chen Jingming was taken aback upon hearing this, but then he realized what was going on and said, "Since Director Zhang knows my identity, I'll be frank. I'm planning to return to China to invest in cultural, film, and cinema-related projects. I'm wondering what the national policies are."

"Before answering your question, let me ask you first: in what capacity are you investing back in China?" Zhang Min didn't rush to answer, but instead asked first.

"Director Zhang, does this have anything to do with my identity?" Chen Jingming replied, feigning ignorance, though he knew perfectly well what was going on.

"There's a big difference between overseas Chinese and domestic residents. Foreign companies can't operate independently in the cinema sector; they must form joint ventures with domestic companies, and the domestic shareholding must not be less than 50%. If you have domestic residency, there are no such restrictions. Now that China is about to join the WTO, it's encouraging investment from all sectors, and many industries have already relaxed restrictions," Director Zhang explained briefly. Chen Jingming nodded after listening; the other party hadn't said much, but he understood.

Foreign investment is restricted, but domestic investment is not. However, Chen Jingming is not in a hurry. He has memories from his future life and knows clearly that the film and cinema industries will be deregulated in 2003 and 2004 respectively, allowing private enterprises to invest independently. However, cinemas will not be fully allowed to be solely owned until around 2019.

Chen Jingming had no intention of withdrawing the profits earned domestically back to the United States; instead, he planned to convert them into foreign exchange and deposit them with the State Administration of Foreign Exchange. Some things, those who understand, understand. Chen Jingming was also afraid, as evidenced by the internet meme, "Grandpa, I want it."

Sometimes, overseas Chinese status is a form of protection. Since he doesn't plan to get involved in sensitive industries, he's not too bothered by his identity.

"Director Zhang, I understand. I plan to go through the joint venture channel. I wonder if you could help me contact the relevant departments in China? After all, two hundred million US dollars is a considerable sum. I'll be starting school in a little over a month, and I hope to get the funds in place as soon as possible after I return to China," Chen Jingming said after pretending to think for a moment.

"No problem. We'll coordinate the funding issues, and we'll also arrange the liaison with the relevant departments for you, so don't worry. When you leave later, go to the business window to pick up a form, or an electronic version is fine. Fill it out and send it to our email address, and we'll process it within three business days," Zhang Min said with a smile. As for Chen Jingming's choice of what status he should use to return to China to invest, he didn't insist, only that the differences be explained clearly.

"Okay, thank you for your help, Director Zhang." Chen Jingming packed up the investment documents and proof of funds, stood up, and extended his hand to Zhang Min.

The two shook hands, and Chen Jingming took his leave. Before leaving, he went to the window to ask for an email address and a link to download the electronic application form before departing the embassy.

Time flies, and it was soon mid-August when Chen Jingming was about to set off to return to China.

At John F. Kennedy International Airport in New York, Chen Jingming and Lin Zhou's family were already waiting in the private lounge.

"Brother Jingming, Brother Jingming!" Chen Jingming was fiddling with his retro phone when he suddenly heard a familiar voice calling him. He immediately looked up and saw Liu Yifei running towards him.

Chen Jingming quickly stood up, smiling as he looked at the panting girl in front of him: "Why are you here? Didn't we already say goodbye on the phone?"

"Hehe." Liu Yifei took a few deep breaths, chuckled, and then explained, "My stepfather was going to South Korea on a business trip, and my mom came to see him off at the airport, so I begged her to bring me along."

As Liu Yifei was speaking, Chen Jingming pulled a tissue from the table and handed it to her, asking with a smile, "Where's Aunt Liu? I haven't seen her."

"Mom is seeing off my stepfather, I'll see you off," Liu Yifei said with a smile, her bright eyes fixed on Chen Jingming.

"Don't think you can skip class just because you're a top student. It's class time now," Chen Jingming teased with a laugh. Liu Yifei was indeed a top student, completing junior high and high school in five years. Otherwise, she wouldn't have been able to return to China in 2002 and get into the Beijing Film Academy.

"What's wrong with class? Don't underestimate me just because I'm still in middle school. I've already covered high school material. I can handle middle school knowledge with ease," Liu Yifei said proudly, her head held high.

"Okay, okay, you're awesome," Chen Jingming praised, giving her a thumbs up. Liu Yifei's eyes narrowed upon hearing this, and then she looked at Chen Jingming and said, "Don't forget to call me when you get back to China, otherwise, next time we meet, I'll show you what I'm capable of."

As she spoke, she raised her clenched little fist. Seeing this, Chen Jingming quickly pretended to be scared, and the two of them laughed for a moment, then chatted in hushed tones for a few more minutes.

The boarding announcement for Chen Jingming's flight came over the loudspeaker. Chen Jingming looked at Liu Yifei and said goodbye, "Yifei, it's settled then, see you back home."

"Yes." Liu Yifei nodded solemnly, then raised her hand and waved, smiling as she said, "Don't forget our promise."

"Okay." Chen Jingming waved goodbye to Liu Yifei. After watching her figure disappear at the entrance of the lounge, he turned around, picked up his luggage, and entered the airport through a special channel with Lin Zhou's family, boarding the plane.

The Gulfstream V taxied slowly down the runway before taking off. Chen Jingming sat by the window, watching the buildings outside grow smaller and smaller. He thought of his promise to Liu Yifei and couldn't help but smile. Lin Zhou, having settled his family, looked at the smiling Chen Jingming and asked curiously:

"Mr. Chen, when did you and Attorney Chen's daughter become so close? She even came to see you off."

Lin Zhou was formerly the CEO of Global Retail, and Chen Guoli was a partner at the law firm that partnered with Global Retail and was also in charge of representing Global Retail's business; the two were quite familiar with each other. While Lin Zhou wasn't exactly close to Liu Yifei, he had met her a few times.

"We went to the same elementary and middle schools, and we're both Chinese. When she first came here, her English wasn't very good, so communication was a bit difficult. I had nothing to do at the time, so I practiced my spoken English with her, which is why we're quite familiar with each other," Chen Jingming explained casually, making up an excuse.

Lin Zhou nodded upon hearing this and didn't ask any more questions. It was just a matter of curiosity after all. The cabin fell silent for a moment.