Since the recovery of the coal market in 01, a large amount of wealth has poured into Qingquan every year, and with the full development of the pilot project of mineral resource use rights trading in 05 years and the hot real estate market, the process of hot money pouring into Qingquan has accelerated sharply, making the number of billionaires in Qingquan with a net worth of more than 100 million may be more than half in the Central Plains Province.

The influx of huge wealth suddenly brought nouveau riche luxury to Qingquan, and the streets and alleys were full of bright lights, clubs, clubs, KTVs, luxury stores, luxury cars, and super luxury cars were dazzling on the streets of Qingquan City, and the degree of luxury was even beyond the reach of businessmen.

Financial lending companies are all over the streets, and private capital is pouring into the lending market on a large scale, and the major banks in Qingquan are almost unable to pull in deposits, and naturally they cannot lend loans, and developers who need to use a large amount of funds cannot get loans from the Qingquan financial system at a low enough cost, so they can only borrow from the private lending market at high interest rates, thus exacerbating this cycle.

Chen Li has been paying attention to Qingquan's economic data, and the total amount of new bank loans in Qingquan City in 07 may be less than 2 billion.

Even if these are invested in industrial development, how much can they be counted?

The funds needed for the construction of Binjiang High-tech Industrial Park and the development of enterprises mainly rely on the support of the banking system of the commercial city.

This is also one of the reasons for the low debt ratio of Xinchaorui.

With the strength of the listed company Xinrui City at this time, the debt ratio will be increased to 60% or even 80%, which will be supported by major banks, but the main foundation of Xinchao Rui is in Shangdu, if it is mainly borrowed from major banks in Shangdu, and the responsibility rate is increased to 80%, it is equivalent to siphoning 15 billion funds from the financial system of Shangdu.

Chen Li still controlled the impulse of Xinrui City to borrow money on a large scale from the banks of the commercial capital, and as much as possible, he channeled a part of the bank funds into Qingquan's industry, which is mainly developed in the Binjiang High-tech Industrial Park, and borrowed 10 billion yuan of funds from his own holdings at an interest rate lower than the bank interest rate to supplement the shortage of working capital of listed companies.

However, at this time, there is still a lack of sufficient authoritative data on the scale of financing in the Qingquan private lending market, but the most conservative estimate is more than 30 to 40 billion yuan.

Chen Li came back to Kong Wenzheng this time, in addition to talking about the expansion of Dashang Capital's industrial capital and the follow-up investment and construction of Guanlan Industrial Town, he would also talk about the capital injection of Qingquan City Commercial Bank.

Because all the banks in Qingquan cannot absorb deposits and cannot lend loans, the operation of Qingquan City Commercial Bank is difficult, not to mention the bad debt rate, and the annual interest margin income of millions of yuan is difficult to maintain the operation of outlets and pay employee salaries, not to mention supporting local economic development.

Qingquan City Commercial Bank was already seriously insolvent at this time, and under the impetus of Zhang Haoran, the Qingquan Municipal Party Committee and Municipal Government have agreed to promote the further restructuring of Qingquan City Commercial Bank, give up the direct control of the city government over the City Commercial Bank, and introduce private capital, but no one is interested in this at present.

The four major banks are still struggling to operate in Qingquan, the cross-regional barriers of city commercial banks have not yet been opened, and there are a bunch of bad debts before, who wants to take over this mess?

Chen Li will promote the injection of Dashang capital into Qingquan Commercial Bank, but in order to import the capital of Qingquan Coal Circle into the local banking system, and then really support local economic development, Chen Li also wants to pull Kong Wenzheng and them into it.

Although Chen Li came back this time to persuade people to enter the thankless field, the success of Xinrui City and the huge return on investment brought by Dashang Capital to the Qingquan coal circle in the past few years also gave Chen Li an influence and voice beyond the reach of others.

There is a more important reason, that is, Kong Wenzheng, who has already stood at the top of the wealth, most people have not suddenly made their fortune in the past three or five years, they have experienced many years, so many years, compared with the people who have become rich or are still on the verge of getting rich in recent years, they are not so restless, and they are willing to try more in other fields.

A lot of things are not done, mainly because people from all walks of life in Qingquan are generally in a state of restlessness, lacking the atmosphere of industrial development, and in the traditional coal circle, there is a lack of industrial investment genes, but the new tide and big business capital stand up, and the situation will bring some turnarounds.

After New Year's Day in 08, Chen Li lived in Qingquan and Shangdu for more than a month, until the Spring Festival on February 7, and accompanied Zhou Dahai, Zheng Wenyuan, Gao Can, and Zhao Yang to see more than 100 people, and the effect was still extremely significant.

On the one hand, in addition to Chen Li's first investment of one billion yuan in Guanlan Industrial Town, Dashang Capital has also set up a special industrial real estate fund to raise two billion yuan from investors such as Xillong Group, Guobang Real Estate, and Yulong Real Estate for follow-up development and construction.

Led by Dashang Capital, investors such as Xillong Group and Qingquan Heavy Machinery Group injected a total of one billion yuan into Qingquan City Commercial Bank, ranging from 2% to 30% of the equity.

In the past seven years, the city commercial banks in various cities in the Central Plains Province are not allowed to operate across regions, and at the same time, the deposits that Qingquan City Bank can absorb from the local government are extremely limited, and the business operation of Qingquan City Commercial Bank mainly depends on the capital injection of major new shareholders.

In addition, the Dashang Capital Industrial Investment Fund has also raised 4 billion yuan to invest in convertible bonds in nine high-tech enterprises such as precision instruments, chip packaging, superhard materials, environmental monitoring instruments and biopharmaceuticals that have invested and built factories in Qingquan Binjiang High-tech Industrial Park.

However, the month before the Spring Festival in '08 can be said to be a month of mixed joy and sorrow for securities investors.

After more than a month of adjustment, excluding the New Year's Day holiday and weekend weekends, the stock market index within seven working days, from the previous 5,500 points or so, the trend is the same as many people expect, it seems that there is a wave of more violent rise Even if it appears, the stock price of the listed company Xinruicheng has stepped on more than 40 yuan per share again on January 14.

However, only a weekend later, from the market to individual stocks, the situation took a sharp turn for the worse, Xu Yuanzhou used a lot of funds, and there was no way to raise the stock price of Xinruicheng, worried about the exhaustion of funds, and began to change hands to short, but slightly reduced the position, the stock price of Xinruicheng fell sharply.

On the last closing day before the Spring Festival, the securities index fell sharply from 5,500 points to 1,300 points to 4,200 points, and the stock price of Xinrui City also fell all the way to below 30 yuan, and the total market value also fell to about 90 billion yuan.

In this wave of trading, Xu Yuanzhou lost six or seven billion yuan, not to mention, there were nearly nine billion chips piled up in the listed company Xinrui City and could not be thrown.

Huang Chaocheng also lost a little bit on his side, but fortunately, he had paid dividends once before, and the account balance was reduced to 2 billion after the dividends, and at the same time, he hastily controlled about 50%, and the market value of his position has been controlled to fluctuate between 10 and 1.3 billion.

Although there are still many people in the market who think that the last wave of more violent rises has not come, Xu Yuanzhou and Huang Chaocheng all vaguely feel that something is wrong.

The overseas subprime mortgage crisis has not stopped because the United States has set up a super fund with a scale of 100 billion dollars, but has become more and more intense, although the domestic financial system is closed, but after the release of customs import and export data in the fourth quarter of 07, it still makes many people feel the slightest coolness.

This is a symptom of the subprime mortgage crisis continuing to spread to the real sector after the global financial system, at a time when the strongest driver of domestic economic growth is exports.

Once this momentum is braked, who would dare to say that the domestic financial system is closed and will not be affected by the subprime mortgage crisis?

Chen Li stayed in Qingquan to spend the Spring Festival, and Xu Yuanzhou and Ding Yang were also in Beijing, and they did not know what the situation would be when the securities market reopened after the Spring Festival holiday, so they took Huang Chaocheng and Zheng Wenyuan together and rushed to Qingquan by plane on the sixth day of the Lunar New Year to discuss countermeasures.

Although Xu Yuanzhou took over the 100 million shares of Xinrui City shares held by Xinchaorui Commercial, this was taken over before the last wave of the market index, even if Xu Yuanzhou did not take over, the 100 million shares could be reduced at the position of 323, it was Xu Yuanzhou who wanted to pull the stock price to more than 50 yuan and make another wave, so Chen Li couldn't talk about owing Xu Yuanzhou and Ding Yang their favors.

On the evening of the sixth day of the Lunar New Year, Qingquan was snowing heavily, and in a lakeside villa in the southern area of Qingquan Xinrui City, Chen Li, Zheng Wenyuan, Xu Yuanzhou, Ding Yang, Zhou Bin, Zhao Yang, and Huang Chaocheng were barbecuing and drinking beer in their backyard villas.

This is Zhou Bin's newly renovated house in Qingquan, it is the king of Qingquan Xinrui City, with a construction area of 1,200 square meters, standing near the lake, and the front and rear yards add up to three acres of land.

The lake is more than 100 meters wide, frozen, covered with snow, Zheng Wenyuan chiseled the ice, put down the fishing hook, and quite had the artistic conception of fishing alone in the snow, that is, he was wearing a bright red down jacket and the beer in his hand was a little ruined.

"Why did your taste fall like this now?" Chen Li looked at Zheng Wenyuan's down jacket with disgust.

"It's those two grandsons who want me to wear it like this, and I don't have a problem," Zheng Wenyuan pointed to Xu Yuanzhou and Ding Yang, who were also wearing red down jackets, and said, "The two of them are even red in their underwear now, and they are looking forward to the stock market opening in two days, why don't you open their pants now?"

"Are you really not optimistic about the situation now?" Xu Yuanzhou took a few skewers of freshly roasted lamb kidneys, handed them to Chen Li, and asked, "We came by car just now, and the streets were full of advertisements for buying a house and sending decoration to Xinrui City - the price of Qingquan Xinrui City does not seem to have been adjusted, but as soon as the decoration is given, the discount is not small." ”

The high-rise apartments in Qingquan Xinrui City are now sold in finely decorated finished houses, but the cost can be controlled, and the actual conversion is about six or seven hundred yuan per square meter, and the price reduction is less than 10% in order to pull sales to inventory, but the high-end and low-density areas in the south are all luxury decorations with a cost of more than 2,000 or even as high as 40 million luxury decorations, and the actual price reduction is more than 20%.

Qingquan Xinrui City currently has 1.3 million square meters of unbuilt projects, and the projects that can be pre-sold and completed but have not yet been sold are under construction, adding up to 700,000 square meters.

In addition to this, Xinrui City's trendy Rui City Plaza in Yinghe, Los Angeles and other places, as well as some small and medium-sized projects, are also accelerating the preferential efforts of residential sales to promote payment collection.

In this way, even if the two main projects of Xinrui Star City and Jinchen Yueyuan are affected by the economic situation, sales will stagnate, and the subsequent construction process will not be affected, and the capital reserves of the listed company Xinrui City will only increase, not shrink.

The two main projects of Xinrui Star City and Jinchen Yueyuan are the key to whether Xinchaorui can climb to a new level in the future.

Other developers are still waiting, Qingquan Xinrui City threw out this high preferential strength, coupled with strong marketing capabilities, the sales that had been stagnant for a long time in the first few days again rose to the level of more than 100 million daily sales, if this situation can be maintained after the year, the current stock of Qingquan Xinrui City can be digested before the end of April, so as to return more than 6 billion funds to Xinrui City.

Chen Li knew what Xu Yuanzhou was pulling Ding Yang over for, and said: "The two stores of Xinchaorui City Plaza in Qingquan plus the Jinghai store in Shangdu, the asset audit has been done, and the valuation is 3 billion to be acquired by Xinchaorui Commercial, and a formal agreement will be signed in these days, plus the rapid destocking here, it will probably be able to make the profit of the listed company in the first quarter to 4 billion." ”

"Okay, it seems that I didn't buy these boxes of beer for nothing!" Xu Yuanzhou said happily.

Although asset acquisition and promotion and destocking can make a profit of 4 billion yuan in the first quarter, it does not mean that the profit for the whole year can be multiplied by four times.

Considering the deterioration of the situation, the sales of Xinrui Star City and Jinchen Yueyuan cannot be opened, and the annual profit of listed companies may be four or five billion, but the profit in the first quarter has increased fourfold compared with last year.

Xu Yuanzhou holds nearly 9 billion shares of Xinrui City, and it is very difficult to reduce his holdings under the current market conditions, so he needs Chen Li's help.

"However, I advise you to accept it when you see it, don't operate anymore, I have waited and watched for two or three months, especially in the fourth quarter of last year, exports stopped growing, and this year there may even be a decline, which will have a very big impact on market confidence. Chen Li persuaded Xu Yuanzhou.