Extraordinary Genius Chapter 662

Liu Chuanzhi was stunned. How could he know about this?Manager Feng’s father business was really successful. China’s number 2 biggestanimal feed supplier? But how come this company’s name was so familiar?

“Manager Feng, even if both of you are compet.i.tors, it isalso a healthy compet.i.tion. There is no need for you to treat each other asenemies. Furthermore, the both of you also do not have conflicts before. Thisshould not be a problem, right?”

“Manager Liu, I have no problems. Can you help me ask LiuYonghao out? I would like to speak to him.” Feng Yu smiled.

Actually, when Tai Hua Agriculture Products company wasnewly set up, Feng Yu had wanted to recruit Liu Yonghao. But at that time, LiuYonghao and his brothers’ animal feed factory were already set up and was verysuccessful.

Sichuan province was China’s biggest pig rearing base. Itwas the world biggest pig rearing base. With this strategic location, the NewHope Group was able to develop rapidly.

Tai Hua Agriculture Products company’s animal feed wasmainly supplied to its own pig farms. They were unable to enter the Sichuanmarket.

Feng Yu did not know Liu Yonghao, but Zhang Ming knew him.It was because Tai Hua Agriculture Products company had s.n.a.t.c.hed part of NewHope Group’s market share.

Luckily, the New Hope Group does not only produce pig feed.They also produce cows, goats, chicken, ducks, etc. feed. They might beaffected by Tai Hua Agriculture Products company, but the impact was not thatbig.

Feng Yu was very interested to know the Liu brothers,especially the eldest brother, Liu Yonghao.

“Ok. I will arrange this meeting. I will let you know thetime and place. Do you think this Minsheng Bank is possible? Will peopledeposit their money into this bank?” Liu Chuanzhi worryingly asked.

“Banks are just Qianzhuang in ancient times. If we are goingto set up a bank, we must first let the people have confidence with us. Then wewill make use of high saving interest rates and low-interest loans to attractcustomers. It is very easy to run a bank.”

In this era, the hardest part about setting up a bank wasthe issue of withdrawing funds from other places and the charges involved. Ifthere were no branches in certain areas, the customer would not be able towithdraw their money, and even if they could, there will be charges.

The advantages for Feng Yu to join this venture was thenumber of his employees and the financial capacity of his companies. Even if itwere only his employees who used this Minsheng bank, it would be a considerableamount. If all of Feng Yu’s companies use Minsheng Bank for their transactionsand accounts, it will be perfect.

That day, after Feng Yu returned home, he called Zhang Mingand asked him to come to Beijing. Even if Feng Yu did not partake in thisventure, it would still be suitable for Tai Hua Agriculture to form apartnership or collaboration with New Hope Group.

Now was the best time for banks in China to develop. But atthe same time, it was also the most challenging period. This was because theexisting banks in China were not as powerful as the future years. There werealso lots of loopholes that were not discovered. The banks also faced manyinterventions by the government. For instance, the local government willinterfere with the bank’s operation and management, even though they do nothave the authority to do so.

Currently, there were many banks in China, and Iron Fist Zhuwas the Governor of People’s Bank of China. He was an expert in economics. Thegovernment banks were developing rapidly during this period and had eliminatedmany malpractices. Furthermore, there were no banking alliances yet. Althoughthere were ATM cards now, there were not many ATM machines around, and therewere no POS machines. People were still using bank books.

The interbank transactions were troublesome, and UnionPaywas not set up yet. There were high charges for transactions. It was tediousfor a new bank to establish a relationship with all other banks.

Furthermore, the people were still having the old mindset.When they heard this was a non-government bank, their first thought was “thisbank is not safe.” What if they deposit their money into this bank and cannotwithdraw it? What if it closes down?

A shareholding bank was the same as a shareholding company.A company will have the risk of being bankrupt and close down. People had seenlots of companies shutting down these few years.

But Feng Yu wanted to be part of this venture becauseMinsheng Bank was able to let him take loans and the paperwork will besimplified, and he could get a higher amount.

After UnionPay was set up, there will be more ATM machinesaround, and Minsheng bank should be able to grow. Feng Yu did not expect toearn much from this investment. He just wants the convenience when he needs toget loans.

These people wanted to set up this Minsheng Bank should alsohave the same thinking. This was a different way of raising funds. Legallyraising funds.

In the future years, these people who founded Minsheng Bank,all took lots of loans from the bank. Their businesses grew and developedrapidly because of the availability of funds.

……

3 days later, all of them met in Quanjude’s private room.

If the meeting were held in the office, it would be a formalmeeting. This meeting was held in a restaurant. It was more like a gathering offriends. Even if no deals work out, there will be no hard feelings.

Liu Yonghao was stunned when he saw Zhang Ming. “You areManager Zhang of Tai Hua?”

Zhang Ming smiled and extended his hand for a handshake.“Mr. Liu, this should not be the first time we met. I thought you haveforgotten about me.”

Liu Chuanzhi immediately introduces: “Tai Hua AgricultureProducts is owned by Manager Feng’s father. Manager Feng, this is Mr. LiuYonghao.”

“Nice to meet you. I’m Feng Yu.” Feng Yu smiled and extendedhis hand.

“Liu Yonghao. I have heard a lot about you. I finally get tomeet you today. I never expect that Tai Hua Agriculture is owned by yourfamily.”

Liu Yonghao did not leave immediately after he saw ZhangMing and Feng Yu and Liu Chuanzhi was relieved. “Let’s have dinner. I haveordered the dishes. Let’s talk over dinner.”

Liu Yonghao arrogantly said: “The ducks from BeijingQuanjude are fed with my animal feeds. Now, most of the farms all over Chinaorders their animal feed from us.”

Liu Yonghao glanced at Zhang Ming. He only has animal feedfor pigs. How can he compete with New Hope Group?

Zhang Ming laughed and replied: “We have Tian Peng Pigs. Weare the number one pork supplier in China. We also have pig farms and hamproducts. Oh, we are selling our products in Tai Hua Supermarket. It’s Tai HuaSupermarket. You get what I mean?”

Tia Hua Supermarket, Tai Hua Agriculture Products? These twocompanies are related? Liu Yonghao looked up and saw Feng Yu smiling. This TaiHua Supermarket belongs to his family too? But it was reported that Hong Kongrichest man, Superman Li, had invested in this supermarket. This supermarkethad something to do with Feng Yu?

Feng Yu gestured to Zhang Ming to stop him. “Zhang Ming, Mr.Liu’s New Hope Group, is really better than us in animal feeds. But, Mr. Liu,your company, is run by you and your family. Are there any conflicts betweenyou and your brothers when you all split the profits?”

Translator’snotes:

Sichuan

https://en.wikipedia.org/wiki/Sichuan

History ofbanking in China.

https://en.wikipedia.org/wiki/History_of_banking_in_China

People’sBank of China.

https://en.wikipedia.org/wiki/People's_Bank_of_China

Zhu Rongji

https://en.wikipedia.org/wiki/Zhu_Rongji

Point ofSale (POS) terminal

https://en.wikipedia.org/wiki/Payment_terminal

Unionpay

https://en.wikipedia.org/wiki/UnionPay

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