Time is not subject to human will, and no matter what drastic changes occur in the human world, it still moves forward according to its own inherent laws. In this more than a month, Tao Faqiang, general manager of Tonggang, is in the continuous "excited" to spend the time, watching the yen fall all the way, the heart is almost a little unbearable, to the day of repayment, the exchange rate of the yen is fixed at 332 yen to 1 dollar!

This kind of foreign government loan is a sovereign foreign debt and must be repaid, not to say that any enterprise can borrow if it wants to, but it must be approved by the State Development Planning Commission and the Ministry of Finance. When Tonggang applied for a government loan, "although all the conditions were met, Qin Zihe still spoke through his father-in-law Bai Jingshan, and he successfully passed."

At the end of last year, Director Mi of the Financial Department of the Ministry of Finance also led a special team to Tonggang Company to review the company's repayment when due.

In mid-April this year, Deputy Director Li of the Financial Department in charge of foreign government loans personally called Tao Faqiang, ostensibly reminding the government that the loan was about to expire and urging the repayment of the loan.

Tao Faqiang saw that Deputy Director Li of the Financial Department was so polite to him, and he betrayed Qin Zihe as soon as he was excited, and he told Director Li that Mayor Qin instructed him to do this. At this time, Tao Faqiang had already finished communicating with Qin Zihe on the issue of the yen exchange rate, and he was full of confidence, and he touted Qin Zihe, "Of course he is kind."

In the end, Director Li understood that "this mayor named Qin Zihe is a doctor of economics", who had studied in the United States and engaged in the foreign financial industry", he thought that the yen exchange rate had reached a high point at that time for the loan, and "it would inevitably decline later", so he chose a short-term loan, and the result was as he expected, "The Asian economic crisis has caused the yen exchange rate to plummet, and he also expects that the yen exchange rate will continue to fall, and Tonggang will be able to take a bigger advantage when it comes to repayment!"

Director Li put down Tao Faqiang's phone, "turned around and took this matter as a legend and told Director Du Tianxiang" that "it's no wonder that he took Tonggang's loan to talk about things", "China" has suffered a big loss in this regard, and Tonggang has earned it, and he also feels angry, otherwise he doesn't need a deputy director to ask about repaying the loan personally!

In the early 0s, when China began to borrow loans from foreign governments, it only noticed that the terms of the yen loans were favorable, "the gift component was high, the exchange rate risk was underestimated, and the yen continued to appreciate in the following decade or so." In 190, the average exchange rate between the yen and the dollar was 227:1, and by 1990 "the exchange rate had become 5 to 1, and the yen had appreciated by 56 percent." According to the statistics of the Ministry of Finance, during the "three years from 1990 to 1992", the total number of Chinese and foreign government loans was 700 million yen, which is equivalent to 100 million US dollars if calculated at the old 5:1 ratio of the yen to the US dollar, which is 40 million US dollars more than the 70 million US dollars converted at the exchange rate at the time of borrowing, and the debt burden has increased by 0.6 times.

Director Du Tianxiang, who has worked in the Ministry of Finance for more than 20 years, "has been engaged in and presided over foreign government loans for a long time, and is a first-hand witness to these events" The Asian economic crisis has made the financial institutions of the whole country highly nervous, and he has not noticed the matter of yen loans at all.

Director Li told Du Tianxiang in detail about the yen loan of Tongjiang Iron and Steel Co., Ltd.: "At that time, he didn't understand why they didn't take out a long-term interest-free loan, but chose a three-year short-term low-interest loan." I didn't expect the yen to fall so much, if it is repaid now, Tonggang is equivalent to taking 300 million yuan from the government in vain!

Of course, Du Tianxiang remembered that when he repaid the government loan from 90 to 92, China lost 40 million US dollars in vain, which was converted into more than 200 million yuan. But when he thought about repaying the loan, it would take him more than a month, "If the yen exchange rate goes again during this period, wouldn't it be a vain joy?"

Director Li told him with a smile that when I talked to Mr. Tonggang Tao about this matter, he told me, "Their mayor of Tongjiang is a doctor of economics who has studied abroad, and he has a unique view on international finance, and he made the decision on short-term yen loans at that time, and he analyzed that the yen exchange rate will continue to fall in the next two months!" As the Asian economic crisis continues, it is unlikely that the yen will increase significantly in the short term.

A doctor of economics who stayed abroad became the mayor" This is rare in the country, Du Tianxiang asked: "What is the name of this mayor of Tongjiang?" ”

Director Li said: "His surname is Qin, I didn't ask what his name is, I will inquire when Tonggang is due for repayment." ”

Du Tianxiang said: "That's okay, let's see if this Mayor Qin's prediction is accurate, if he predicts it, this person is undoubtedly a genius!" ”

When the repayment date of Tonggang arrived, and the exchange rate of the yen was fixed at 332 yen to 1 dollar, Du Tianxiang was stunned! Director Li was stunned! Even Vice Minister Chen, who Du Tianxiang reported this matter to, was stunned! Du Tianxiang hurriedly grabbed the calculator and calculated, Tonggang took more than 500 million yuan from the Japanese government for this loan, which was converted into more than 90 million US dollars, which is the victory of Tonggang and the victory of China!

This news spread like a major news in the Ministry of Finance, and finally Minister Tang Zhengqiang also knew about it, he also knew the name Qin Zihe in amazement, finance and economy are inseparable, he immediately and the very hot Qin Zihe in the economic circles, because his paper accurately predicted the Asian economic crisis, when everyone was optimistic that the crisis was coming to an end, he stood up and said that it was just the beginning, and the fact is exactly like his analysis!

During a break in the middle of a meeting, Minister Tang Zhengqiang talked about this matter with Deputy General Manager Cheng, and Deputy General Manager Cheng said to him with a smile: "Don't you know this Qin Zihe, he is Lao Bai's son-in-law!" "Lao Bai" mentioned by Vice President Cheng is, of course, referring to State Councilor Bai Jingshan!!