Shao Yuanyi has not been to the Westlake Securities/Bond Exchange for a while. But when he first arrived today, the bustle almost frightened him: when did it start to be so lively? A large group of people who knew each other, who appeared often and infrequently, all talked and laughed and chatted nonsense, and occasionally someone inadvertently reached an agreement, and then gave up his leave, and left satisfied; But more people are still sitting together, drinking imported Ningbo tea while knocking melon seeds, and discussing something very patiently.

However, Shao Yuanyi only understood what was going on after a little thought: weren't these people just businessmen and money lenders who came to talk about financing? There are a few Jining Gang businessmen who invest in bonds and stocks, but haven't they recently said that they want to suppress the rentier class? Why are they still bouncing around so happily outside?

If you don't understand something, don't think about it for a while! Shao Yuanyi shook his head, walked to the place where he usually sit, and met with a group of people who had been waiting there for a long time. The other party is also an old acquaintance, a perennial water transportation business, and I heard that this time he plans to raise a sum of money in the bond market to maintain the operation of the company, and the amount is about 2,500 yuan.

Two or three thousand yuan in bond sales is a lot of money for Shao Yuanyi, because it means that he has to lend almost all the cash he has on hand, which is very unwise from the perspective of venture capital. However, considering that this business was introduced by an acquaintance, and that there was also a certain senior officer of the Navy Department as a guarantee, Shao Yuanyi still agreed: a total of 2,500 yuan of five-year registered bonds, with an annual interest rate of 5%, is to register with someone in the West Lake bond market today. Let's do the final formalities.

After the money was transferred back to the Northwest Reclamation Bank. The two sides shook hands and said goodbye without too much politeness. And this is also in line with Shao Yuanyi's thoughts. He is not very interested in other things now, and he is thinking about the news recently revealed by his father-in-law: that is, don't follow the "rentiers" of the Jining Gang to disrupt the market order, make the money they should earn, and try to invest funds in the industry, if it really doesn't work, invest in railway construction bonds (the income is higher than inflation), and don't follow the example of the Jining people who gang up and use usury to exploit the industrialists who are in urgent need of funds.

Shao Yuanyi had actually heard about what those Jining people were doing, and the interest rate on their loans was generally between 10 and 20 percent. It's frighteningly high. And the pace is surprisingly consistent, a group of people in the name of the same townspeople to establish an offensive and defensive alliance, in the West Lake market, a private capital market that has just taken shape, so that the industrialists who are in urgent need of funds hate. However, the reason for these Jining people is also very sufficient, that is, whether it is the former Ming Dynasty or the current Europe, the interest rate of private loans is not low, and more than 10% is a normal level, so their behavior is also very legitimate.

However, no matter how good their reasons are, the central government will probably not tolerate these people anymore. Charges of bullying and dominating the market, manipulating the market, and unfair competition will be planted on their heads at any time, and the end will be self-evident. Shao Yuanyi estimated it. At the beginning, the group of Jining businessmen who sat in the big room all day long had to plant a few of them, and those who waved their flags and shouted were inevitably fined and warned.

My father-in-law is right, if you have money, you have to take the right path, and isn't it more valuable to invest money in industry than to manipulate the market? To tell the truth, the environment for doing business in this eastern coast country is really good, not only the people are rich and the country is thriving, but the government and the imperial court are not fake in caring for the investors who open factories and workshops. The major state-owned banks will not hesitate to lend money if they have a certain amount of money, and if they really can't do it, they will always be able to bring back a couple of jujubes, and the business environment is unprecedentedly good.

Shao Yuanyi is not an uninformed person, he has traveled south and north for so many years, and there are not one or two foreign businessmen who can talk to him, and you can understand a thing or two from the business environment of the old continent described by them. In this era, apart from the Amsterdam market, there is no city in Europe that has such a financing place as the West Lake Bond Exchange Market in the East Coast Republic - even in Genoa and Venice, which have long been known for their commercial traditions, such convenient and fast private financing markets are difficult to find, which obviously hinders the rapid development of industry and commerce in European countries.

Recently, the county organized a meeting of some wealthy rural households and business owners, and at the meeting, a senior lecturer from the Corps Fort said that the competition between the East Coast countries and European countries, in addition to the national strategic level, most of the others have to rely on the enterprises of various countries to carry out, after all, seizing the market and competing for profits are mainly the business of the enterprises themselves, so the competition is mainly concentrated at this level.

Based on this idea, the government of the Eastern Republic has constantly adjusted and optimized its policies, mobilizing resources to facilitate the development of companies – especially those that rely on exports for the benefit of the country – in order to compete fiercely with their European counterparts, and in these policies, financial policy is an extremely important part.

As we all know, in Europe in this era, except for Amsterdam, the "wonderful" trade center, all major countries adhered to the idea of mercantilism and regarded precious metals as the root of life. As soon as the foreign trade was profitable, the incoming silver was immediately sent to the mint to be minted and stored, which clearly restricted the circulation of gold and silver. Coupled with the underdevelopment of the monetary credit mechanism, the supply of capital in many European countries is often equal to the money supply, which has created a very painful situation, that is, the shortage of corporate working capital - of course, Europeans have long been accustomed to this.

However, this is not a problem in the East Coast, the General Administration of Precious Metals attaches great importance to the money supply in the market, and often cooperates with the Statistical Office of the Mei Organ to investigate the liquidity of the market, and once there is an abnormality, it will be regulated through various financial instruments, so that the liquidity of the market will always be sufficient, stabilize the financial market, and benefit the people and enterprises.

In addition, we have to mention the West Lake bond trading market, which was formed by the gathering of private capital under the inducement of the government. This is because any aspiring entrepreneur and a business owner who needs money to expand his production – even if he is the owner of a small workshop – can issue bonds or sell shares on this market in order to obtain much-needed funds, provided that he or she has the right collateral and the approval of the Guò government.

Shao Yuanyi has been walking in this market for a long time, and he has seen too many enterprises that survive in the cruel competition by selling shares in exchange for funds over the years (especially the most competitive machine flour industry), and you must know that many commodities on the East Coast are produced by those enterprises that are very small in terms of fixed capital and circulating capital, and the survival of these small enterprises is also very important to the Republic of East Coast of China, and it is precisely a healthy and orderly West Lake financing market that gives them the soil for survival and development.

And is there a market in Europe that is very convenient and fast for financing at this time? Unfortunately, no! With the exception of Amsterdam, most of the financing in Europe takes place between friends who have cooperated with each other for many years, relying on the credit accumulated over generations, and the very closed nature has resulted in a great waste of funds, and social resources have not been fully mobilized to develop industry and commerce, which will obviously lead to a decline in the competitiveness of the country.

Seriously, the rulers of the East Coast government are really talented! The political and economic systems currently operating in this dynasty are almost tailor-made for the development of industry and commerce, and are far from being comparable to those backward countries in the Old Continent that are stumbling and stumbling forward, and certainly not comparable to feudal countries like the Ming Dynasty. Thinking of this, Shao Yuanyi suddenly felt that this East Coast National Fruit belonged to the Mandate of Heaven, otherwise how could there be so many talents in governing the country and the world?

In addition, there are several schools in China that cultivate business talents, and many courses such as finance, management, and economics are quite refreshing. Shao Yuanyi had mastered the bookkeeping methods of Daming shops before, and at the same time made great efforts to study the "Italian accounting method" (double-entry bookkeeping) that was popular in Europe, but he found that these knowledge that he was once proud of were completely scum in the face of the so-called "modern financial management system" implemented by the government and enterprises, and it was not worth mentioning at all!

Whether it is the Ming Dynasty or Europe, the gap between it and the East Coast countries is really all-round. This gap is not only reflected in technology, but also in the "system" that the old men often say, that is, whether their system is really suitable for the development of industry and commerce, and whether it "restricts the progress of productive forces", which is the crux of the problem.

There is also the problem of people's concepts, the obstacles of the old "feudal remnants" (such as the guild system), and other messy problems, all of which are hindering the progress of the old continent countries such as the Ming Dynasty and Europe.

"Sure enough, a blank piece of paper is easy to draw!" Shao Yuanyi couldn't help but be amazed by what the old man had said. Imagine if you were in the Ming Dynasty, if you want to implement the ideal system, you first have to fight against countless old forces and old ideas, and many times you have to compromise, and this leads to incomplete reform, leaving behind feudal remnants.

When a once-enterprising and prestigious leader dies, if the new leader is limited in vision, knowledge, or skill, the reform may often be abandoned halfway or even reversed, and the country's progress will naturally be limited. (To be continued......)