June 22, summer solstice.

Chen Zhiwen and his entourage left the mainland where they had stayed for more than a month and returned to Hong Kong.

Hong Kong's main economy, is still such a pool of stagnant water, after being kidnapped by real estate, all the economic data are linked to real estate, real estate is strong economy, real estate is weak economic weak, although there is a small group of people, seems to have seen the future trend of strengthening, began to invest boldly, in addition, including Hang Lung Real Estate, several real estate companies, also because of Chen Zhiwen's investment or the pillar of Hisense Bank, part of the business that had to start construction has also started, but compared with the entire Hong Kong real estate market, This scale is still too small, and it has almost no impact, just like at the peak of the real estate bull market, even if a small number of people evacuate, and even if they publicly claim that there will be problems in the real estate market, no one believes it.

Most people follow the trend, even if they think that the future may be different, but they dare not bet, only those who have the vision and dare to gamble can rise against the wind. Of course, there are actually many people who lose their bets like Hang Lung Properties.

After a two-day break, on June 25, Chen Zhiwen came to Hutchison Building in Central, where Hutchison is currently one of his most important companies, no less than Midea, because many asset-heavy investments are in charge of Hutchison.

"How are you talking about the power station project in Yuezhou?" Chen Zhiwen asked after drinking a cup of freshly brewed coffee.

HK Electric, because it is a public service, so there is no way to be a sole proprietorship, must be listed, otherwise it will be revoked by the Hong Kong government exclusivity, although the power generation business is unlikely to enter even if there is no such power, but there is no need to do it with the Hong Kong government, besides, the power station business, heavy assets, the rate of return can only be said to be stable, there is no talk of profiteering at all, there is no need to be a sole proprietorship, it is better to keep the listing, so that it will be very convenient when financing.

However, although each of the power generation business is asset-heavy, there may not be a few new projects in a few years, especially before, HK Electric has been in Hong Kong, just recently, it has begun to enter the mainland, and even in the future, the number of projects that can be participated in will not reach a large level, unless Chen Zhiwen injects additional funds, but such a low-return asset-heavy project, at least for now, is obviously impossible.

Therefore, HK Electric is a second-tier enterprise within the entire group, which is directly managed by Hutchison, which is not as good as Wharf, which can still report directly to Chen Zhiwen, because although the scale of Wharf is not as good as that of HK Electric, the future potential is much larger, as long as there is capital, it is possible to directly build shopping malls in many cities in many countries, but power plants are not, although the latter may have more influence, but it is true, it is difficult to grow to a very large scale.

Chen Zhiwen does not need to ask about this kind of subsidiary that rarely has any big movements, so he can just leave it to Hutchison, but in the pure operation part, HK Electric is still responsible for it, but Hutchison is responsible for the capital investment.

Therefore, HK Electric's investment in Yuezhou City is responsible for Hutchison, and furthermore, after Chen Zhiwen acquired HK Electric, because of professional problems, he almost did not interfere with HK Electric's management, this group of people, starting a power generation business is naturally very awesome, but the others are not good, in the original history, HK Electric has a large amount of land, but it is not able to develop, and in the end all of it is cheaper Li Ka Cheng, such management, even real estate will not play, if they are allowed to carry out investment negotiations involving billions of Hong Kong dollars, it is estimated that the project will be scrapped, Hutchison, on the other hand, has cooperated with the mainland many times over the years and knows how to operate.

"The address has basically been chosen, Yuezhou City has given 6 places, let us choose 3, which involves environmental pollution, so there is not too much consideration for the location. This map is an alternate location. Zhou Jiayang handed a map to the boss and said: "The next is the issue of investment amount, power generation, and tax incentives for future operations." ”

"Well, in terms of location, you can decide according to your own needs, these are very remote places, considering the water source problem, transportation problems, it is convenient." Chen Zhiwen took the map and glanced at it, but he didn't care.

Power plants are highly polluting industries, especially in this era, ultra-high altitude emissions and carbon recovery technologies are not yet mature, and the coal used now will not be high-quality coal, so the pollution to the vicinity is very heavy, so it is inevitable that it cannot be placed near urban areas.

Of course, if the urban area wants to expand too much in the future, it is also possible to spread to the vicinity of the power plant, that is to say, the current fringe area may be the suburbs of the city in the future, but it is too long, and it is impossible to know the future development plan of a Guangdong city, so there is no need to care about the location.

The power plant, this project, is purely for power generation, first, it itself can also have enough profits, second, with electricity, their future industry is convenient to transfer to the mainland, otherwise, you can only stay in Hong Kong to enjoy the huge labor costs, it is better to prepare early, as for the possible rise in land prices in the future, it depends on luck, it is better to have it or not.

"Okay." Zhou Jiayang nodded, and said: "There is another question that Chen Sheng needs to decide, whether our generator sets are purchased from abroad or from China. ”

"The technology in this part of the country should not be very good, right?" Chen Zhiwen thought for a while and asked.

Although power generation is the foundation of the country, the planned economy era before the reform, the research on power generation technology has certainly not stopped, but it is certainly not comparable to the results of so many overseas countries and longer historical research, in his memory, the mainland only around 2010 to improve its own thermal power generation technology to the international cutting-edge level, that is, supercritical power generation technology, and then locked the export together.

"Yes, the combustion efficiency and stability are not as good as those abroad, that is, it is cheaper, and the cost of purchasing coal will be very high for long-term use, and the cost of buying coal will be very high, and if you buy overseas, although the one-time payment is a little more expensive, the efficiency will be much higher in the future." Zhou Jiayang said.

"Of course, I choose imported, what I care about is efficiency, and the higher the power generation, the better." Chen Zhiwen said without the slightest hesitation.

If it is similar to Master Kong's factory in Shanghai, choosing low-end equipment can create more jobs, and efficiency can also be made up for by adding people to increase the factory, in this case, it doesn't matter, anyway, the general food production line may be replaced in ten years, and then make a new decision according to the actual situation in the future.

But the power station is different, this thing is basically 30 years, unless there is an explosive growth of new technology in the future, it is impossible to replace, and long-term operation, it needs to be prepared in the early stage, and the future expansion speed of Guangdong City is bound to be very fast, the power plant pollution is too serious, and it is not in line with urban development, although Chen Zhiwen also wants to maximize benefits, but the bottom line is not to hurt anyone's body, whether it is his own workers, or customers, or inconsequential people.

"Okay, then I'll contact a few overseas companies and wait for them to make offers, but such a project will take a long time, because it needs to be discussed by many parties, and the mainland also needs to prepare infrastructure facilities according to different conditions, and it may take about half a year to have a preliminary conclusion." Zhou Jiayang said.

"Well, I can understand that, so let's do it." Chen Zhiwen nodded and said that the process of large-scale infrastructure projects will definitely be relatively slow, involving urban needs, environmental needs, reporting to the central government, infrastructure preparation, etc., and the follow-up will also involve safety issues, etc., each with its own process to ensure that there are no problems. Unlike light industrial plants, if the efficiency is high, it may only take three months from the beginning to the completion of the factory.

"Okay, Mr. Chen." Zhou Jiayang agreed.

"How's Hutchison's real estate investment in Japan is going?" Chen Zhiwen asked again.

Nowadays, in the real estate market, the most suitable layout is Japan.

On the Hong Kong side, he already has Hongkong Land, Hutchison, Wharf, and at the same time, through capital investment, he has invested in Cheung Kong Industrial, Hang Lung Properties, Sun Hung Kai Properties and other future Chinese-funded giants, basically in Hong Kong, the city has reached the limit of the scale of real estate, and no more investment, especially continued investment, will be counterproductive, the first will be easy to make yourself more deeply bound to Hong Kong, although he knows the future, and he also knows that Hong Kong real estate will always be very good, but there is no need to eat all the meat in a city, And the second is that he is too involved in real estate, which is not good for his reputation, especially for residential, in addition to his own land, he is not ready to compete with other real estate companies, anyway, he has already obtained the benefits of other Chinese giants through investment.

At most, in the future, some large-scale office or shopping mall projects, Hutchison, Wharf and Hongkong Land can participate, or acquire ready-made office buildings, etc., otherwise, real estate investment in Hong Kong should basically be the same.

At present, Japan is the best market, and next year, as soon as the Plaza Agreement opens, the yen appreciates, and the real estate appreciates, and now the investment can increase exponentially in a short period of time, and the market size is large enough to accommodate a large amount of capital, and it is convenient to withdraw.

"Since '82, Hutchison has invested more than US$3 billion in the Japanese market, mainly investing in office properties and some high-end commercial residences in Tokyo, Nagoya, Osaka and Yokohama, but the progress in Ginza has been very slow, and we have not acquired a complete office building so far." Zhou Jiayang said with some pity.

(End of chapter)