"Bond market?"

When Liszt heard this word, his first reaction was to be confused: When did China have a bond market? This land has not even figured out what a market economy is, the financial system has not yet been opened, and capital is not even a bud, so there is a bond market?

Why don't you know that you're involved in capital and specialize in China?

So he changed his phone and asked, "When will the bond market be established in China?"

Corporate bonds, very common in the United States, if the Tengfei Group they hairstyle is this kind of bond, Liszt is really not worried, speculation in corporate bonds is an entry-level in the eyes of capital traders, Tengfei Group really wants to do this, Liszt backhand can become the largest creditor of Tengfei Group and other enterprises, when the time comes to put a noose directly on the neck of these enterprises, it will be easier.

But while he was thinking about it, the person on the phone said a word that made him even more incomprehensible: "It's not corporate bonds, but national debt ......."

"National debt?"

"Yes, have you heard of Treasury bills?"

......

Although Liszt has only been in China for a short period of time, he has established good relations with China's domestic business, economic, intellectual, and even political circles, accumulated a lot of contacts, and made several big business, including McDonnell Douglas Investment, and claims to be an expert on China's economy in the American business community.

However, Liszt's understanding of China is only superficial, and then he is fooled by a few like-minded public knowledgeables, and he feels that China is nothing more than this, and he can completely apply American business logic to think.

But how did he know the complexity of Chinese society, the internal logic of the gene of great unification in China's more than 2,000 years of history, and of course, he didn't know what treasury bills were.

However, Liszt did not know, but Zhuang Jianye knew that there were two major problems at the grassroots level in the 80s, the first was family planning, and the second was the underwriting of treasury bills.

Tengfei Group has really not done well in the implementation of family planning in recent years, and it is the tail of the crane in this field of the ministry almost every year, so that Zhuang Jianye has to review it at the special meeting of the ministry and family planning every year.

There is no way, Tengfei Group's implementation in this regard is too poor, and the front-line workers' eugenics and education are poor, and the group's leadership is also like this, so it is strange that the leaders in charge of ministries and commissions are not mad.

As for who it is, there is no need to ask, except for Peng Chuan, who loves to engage in sports, there is no one else, yes, at the beginning of this year, the third child was finally born, fortunately this time it is a handle, otherwise Zhuang Jianye estimates that Peng Chuan's urine sex can continue to create a great cause.

But the mess left behind is not small, the ministry has not had an advanced unit of family planning for several years, and it was still possible to fight for it this year, but this is good, Peng Chuan committed a crime against the wind, and the anger of the thunder can be imagined.

dismissal from office within the party, a serious warning, and punishment according to the highest standards......

After the sternly worded departure notice came down, Peng Chuan just smiled slightly, don't look at the above is very serious, in fact, it doesn't have much impact on Peng Chuan, because his position as deputy general manager and chief engineer of professional equipment of Tengfei Group is still there, which is Peng Chuan's biggest capital.

As for the fine, according to the distribution mechanism of Tengfei Group for so many years, this product has achieved financial freedom, not to mention the tens of thousands of yuan in the top grid, that is, multiplied by two, this goods will not frown, compared with the baby son of the family.

The ministry and commission also have no choice, no punishment, where are other enterprises and units watching, gently peeling the past, others also follow the prescription to catch medicine, what should I do?

But the penalty is too heavy, and it can't be done, because Peng Chuan is now a well-known expert in the development of aerospace professional equipment in China, and the professional equipment in his hands has been a good thing that the aerospace department and some high-end aviation factories are vying to buy, and it is also a young discipline leader with high hopes from the ministries and commissions, and he is also counting on the future to achieve complete equipment import substitution, how can the penalty be too heavy.

Therefore, according to Peng Chuan's actual situation, the board can only be lifted high and gently dropped.

But this pot Zhuang Jianye still has to be backed, after all, there is no escape from poor implementation, and it is necessary to bear leadership responsibility, so at this year's family planning summary meeting, this review will not be able to run.

However, compared with the mess of implementing family planning, the Tengfei Group is a different kind of underwriting treasury bills, you must know that before the reform of treasury bills, this thing cannot be circulated and cannot be transferred, in other words, you can only wait for the maturity of the treasury bills and collect the principal and interest.

In general, it is an alternative time passbook.

If this is okay in a few decades, it doesn't matter if the family's spare money is saved for a fixed period or something, but in the 80s, the personal salary was only 30 or 50 yuan, and the family did not even have enough to eat, so where to go with spare money.

As a result, the treasury bills had to be underwritten, and the five or ten yuan were forced to be spread on the salary, and the people who received the wages wanted to cry, and this thing should not be spent with money, and it could not be traded, so what was the use of putting it at home? Moreover, it was five or ten yuan at a time, and you must know that in many cases, these five or ten yuan could make a large family eat several full meals.

As a result, underwriting treasury bills has become something even more difficult to implement than family planning, because if you want to get rich, you must first build roads, have fewer children, and people will understand that if you directly deduct money, you will not be able to understand it.

Even if the higher-level ministries and commissions set up super committees covering more than 10 functional departments to implement this matter, the effect is very bad.

So much so that in some places, the completion of the underwriting of treasury bills in that year will be regarded as a political achievement, and not only can the report be commended by the superiors, but also can be praised in the media.

Tengfei Group enjoyed this treatment every year as early as the 23rd Division period, because the treasury bills amortized to them every year were overfulfilled, not only that, even if the superiors amortized more, Tengfei Group still swallowed without frowning, and there was a posture of eating as much as they wanted.

Is it the employee of Tengfei Group who loves the treasury bills?

Of course not, they prefer cash in comparison, and the salaries paid by the Ascendas Group to cadres and employees from beginning to end are also advanced, and they have never amortized a single treasury bill for so many years.

So where did all these Treasury bills go?

Of course, it was used as an asset by Tengfei Group.

Not only that, if Tengfei Group has the ability over the years, it will also help other enterprises or factories to collect treasury bills in the form of subsidies.

It's just that this part can't be purchased at the original price, and it is generally returned according to seven to eight percent off the paper price.

But even so, enterprises and localities are still happy to take these bills that are not worth money, in exchange for real gold and white eyes, isn't it fragrant?

As for the deficit on the books, it is not a problem at all for these state-owned enterprises and localities, and they can be filled in quickly.

In this way, the par value of the treasury bills accumulated in the hands of the Tengfei Group in these years reached 460 million yuan, and the actual cost was only 320 million yuan, but in 1988, after the state introduced the new treasury bill management measures, the price of the treasury bills allowed to be traded soared, and according to the latest price of the treasury bond trading market in Shanghai and Panyu, the value of the treasury bills in the hands of Tengfei Group has soared to 680 million yuan.

And this is only the first batch, and the treasury bills purchased by various supporting factories are still being raised rapidly, not to mention the scale of 400 million.

The two are superimposed, and a billion cash flow comes out.

So Zhuang Jianye waved his hand, and the treasury bill trading of the Tengfei system was officially opened, looking at the soaring numbers on the books, Zhuang Jianye could only sigh helplessly, this capital, who would not play.