Chapter 280 Gossip: Dollars and the Young Master

On the thirteenth and fourteenth, gods watch the lamps; on the fifteenth and sixteenth, people watch the lamps; on the seventeenth and eighteenth, ghosts watch the lamps.

On the thirteenth day of the first lunar month, lanterns were lit.

Even in broad daylight, Jinning City was immersed in a joyous and lively atmosphere.

Along the moat, craftsmen erecting colorful tents climb bamboo ladders, with giant dragon whiskers and horns made of gold foil hanging from neon signs. The dragon's eyes face the white-bearded old man at the newly opened KFC across the street, like a silent East-West gaze.

Sun Chengbin couldn't help but feel the urge to write an essay after reading it.

Unfortunately, after racking his brains for a long time, he sadly discovered that he couldn't come up with even three sentences.

No, no, the artsy youths of yesteryear have long been steeped in the stench of money.

If you let him stare at the gold foil dragon lantern and the KFC old man for another three seconds, he will be unable to resist calculating how many customers they can attract and inferring the current consumption level of Jinning people based on the customer flow.

There was no other way; it was his livelihood. He achieved his career leap at the age of fifty by working in the economy.

The closer the car got to Zhimen Commercial City, the more bustling the outside world became.

There were people making dough figurines, playing ring toss, shooting air guns, monkeys performing tricks, and birds telling fortunes—all gathered in circles.

The dragon and lion dance troupes ran from one end of the street to the other. Every now and then, candy was scattered, attracting adults and children alike to run after them.

With a gasp of surprise, the burly man wielding the flag balanced his forehead on the flag and steadily walked forward.

His companion, walking beside him, also kept a brisk pace, carrying a bowl on his head the whole way.

The onlookers shouted at the top of their lungs, "Is there fire-breathing tonight?"

"Yes, yes, there are fireworks too, until the sixteenth of the first lunar month. Hey, hurry up, there's a big circus up ahead."

The person being pulled exclaimed, "My goodness! How much money did this cost? They're really rich!"

The people outside had left, and the driver apologized to the leader: "Secretary, there were too many people, and it was difficult to drive the car."

Sun Chengbin smiled and said, "It's alright, it's perfect timing. I'll also check out the excitement in Xiaozhou from Jinning."

This sounds a bit strange at first glance. They are the capitals of two different provinces, how can they be equally bustling?

However, the driver and secretary in the car immediately understood what the leader meant.

Absolutely! They're both international trade centers next to the airport, owned by the same boss. The bustling atmosphere is just like that of twins.

Indeed, to this day, Sun Chengbin has risen from the third-in-command to the top position in the city's leadership team.

Whenever he drank too much at night and woke up in the middle of the night unable to sleep, he would thank himself for his shamelessness in the summer of 1991.

Yes, crisis is opportunity.

The flood that summer made him who he is.

If it weren't for the severe flooding, Wang Xiao wouldn't have had to resort to Xiaozhou Airport for a transfer.

Without that act of kindness in a time of crisis, the Xiaozhou International Trade City would never have risen from the ground.

If it weren't for the channels provided by the trade city, the large, medium, and small enterprises in Xiaozhou, which were on the verge of collapse due to product backlog after the price reform in 1988, would not have been able to find a way out so quickly.

Without the continuous influx of orders and the counter-effect of strong competitive pressure, the light industry in Xiaozhou and even the surrounding cities would not have progressed so rapidly.

Naturally, he wouldn't have the impressive list of achievements on his resume that the Organization Department would have.

Sun Chengbin felt he had made the right bet.

The history of reform and opening up has proven that the successful transition from a planned economy to a market economy almost always relies on the economy of capable individuals.

For example, Zhou Guanwu of Shougang Group, Zhang Ruimin of Haier Group, Li Rucheng of Yageer Group, Zheng Yonggang of Shanshan Group, as well as representatives of Yizhuang Sancun Group such as Yu Zuomin, Wu Renbao, Wang Hongbin, and Xu Wenrong, and Lu Guanqiu, the leader of the commune and brigade enterprises, etc.

That would be the case.

He believed that Wang Xiao, whom he had bet on, was also such a capable person.

He made the right bet on the international trade city project. Now, he has the same courage to gamble on the chip factory.

How can we rely on past achievements without upgrading our industries?

There are so many provinces and cities across the country with a surplus of idle labor. If other places can lower wages, why can't they catch up and gain a greater competitive advantage?

Since Wang Xiao wants to develop in the semiconductor industry and build a chip factory, why don't he and the leadership of Xiaozhou and even Jiangbei Province support him?

You know, if someone else did this, even if they were just as rich as Wang Xiao and had the same large business, they wouldn't achieve the same results.

Because countless private business owners in Jiangbei have witnessed firsthand how Wang Xiao gradually became a big boss, everyone trusts her investment acumen.

Only this belief can make these shrewd and calculating bosses willing to take money and resources out of their own pockets and invest in the semiconductor industry to promote its development.

Otherwise, who would pay for this?

We can't rely on the government for everything. Infrastructure, education, healthcare, and so on—which of these doesn't cost money? The government doesn't have that much money, especially since this year. And ironically, these are things that can't be marketized, otherwise things will go wrong.

Naturally, the best option is to allow market-oriented industries to become market-oriented themselves.

Otherwise, stagnation and lack of development will be disastrous.

If semiconductors weren't important, why would the Americans have kept Japan, whose semiconductor industry is thriving, from rising up?

He's not a technocrat, and frankly, he doesn't really understand these high-tech things.

But as a comprehensive management talent, he understands one principle: what makes the enemy or opponent nervous is definitely something good.

With this belief, Sun Chengbin, as the top official of the provincial capital, could still personally visit a private businessman without any psychological pressure.

When Wang Xiao saw the person, he was startled and struggled to get up from his wheelchair so that he could use his cane to greet the distinguished guest.

"Oh, Secretary, what brings you here? I've been so rude. I should have been the one to visit you for the New Year, but I didn't even go, and now you've come twice to see me."

"Sit down, sit down." Sun Chengbin waved her over repeatedly, indicating that she didn't need to move, and then half-jokingly said, "I can't help it, if I can't go to the mountain, I'll come to you. I originally thought I could meet you in Beijing."

While asking Xiao Gao to help prepare the tea, Wang Xiao emphasized to Secretary Sun, "It's not some rare variety, it's Georgian black tea, which is quite interesting to drink."

Then, she sighed and looked at her legs with a bitter smile, "Don't even mention it, my legs are so weak, they hurt terribly. My mother found an old Chinese medicine doctor to take a look at me, and after taking my pulse, he said, 'If I want to be lame for the rest of my life, I can go wherever I want. If I don't want to, I'll stay put and not go anywhere.'"

Secretary Sun was surprised, raising his eyebrows: "It's that serious? You too, buried for two days in minus twenty degrees Celsius, you must have caught a chill. How could we not take it seriously?"

Wang Xiao smiled bitterly: "Now I know how serious it is. Now I have moxibustion and acupuncture every day, and my mom is going to scold me to death. I even went to Beijing, and there was a dragon dance outside, but my mom wouldn't let me go out to watch. My mom has already spoken to the gatekeeper, security guard, and housekeeper here. If any of them let me out, I'll be scolded to death by her."

Secretary Sun laughed heartily: "Your mother is only doing this for your own good. If you develop a chronic illness, you'll be the one who suffers."

Wang Xiao honestly admitted, "That's true. Parents always worry about their children, and my parents treat me even better than I treat myself. That's right—"

She gave an apologetic smile, "I'm so sorry, Secretary, it's the New Year, and I've made you so busy."

Xiao Gao brought over a cast iron tea canister, lifted the lid, and released a whiff of caramelized aroma.

Wang Xiao took the jar and smiled, gesturing to Secretary Sun to look at the remaining charcoal marks on the inner wall: "This was roasted by Georgian tea farmers over pine needle charcoal. They still use the method of 19th-century Tsarist Russian nobles, where the tea is aged in oak barrels for three months and served with crushed walnuts. I don't have anything expensive to offer you, just a little something extravagant, please try this tea."

The tea canister emitted a fragrance of pine smoke mixed with tangerines, which slithered into Sun Chengbin's nostrils like a nimble snake.

He took a deep breath and smiled, "Things that require effort are always good. Didn't you say that parents are always worried about their children? Since I am the official in charge of Xiaozhou, I will definitely take it to heart. However, we are just acting as matchmakers; it mainly depends on yourselves and whether you have real skills."

The tea leaves were placed into the bottom of the scorching hot teapot, and then a small spoonful of warm water was poured in and poured over the tea leaves, making a crackling sound.

Secretary Sun chuckled, "A strong general has no weak soldiers, Mr. Wang. Your Manager Yang is quite capable too. The academician said the building was too tall and would affect the Forbidden City's skyline, and she said—"

He cleared his throat and began to imitate with great seriousness, “The glazed tiles of the Forbidden City were once blue until the Ming Dynasty imported cobalt from Persia—true tradition is never afraid of being crowned by new technology. My goodness, I was stunned; he really knew it all.”

Wang Xiao chuckled, picked up the teapot, and apologized repeatedly: "I'm sorry to have made you laugh. Xiao Yang graduated from university a few years ago and still has a student-like air about him. His words were a bit...unpleasant."

The teapot spouted a thin stream of amber water, creating tiny swirls in the porcelain cup. She sprinkled in some crushed walnuts, and the nutty oils collided violently with the aroma of tea, the fragrance penetrating deep into one's soul.

She placed the teacup in front of the guest: "Please try this; it's a very interesting way to drink it."

Secretary Sun smiled, picked up his teacup, and gently inhaled the aroma of the tea, saying with a smile, "So, it still depends on you yourselves. Even the academicians have stopped arguing."

Wang Xiao put down the teapot with a smile: "Oh? I thought we were going to have a three-hundred-round battle. Arguing with cultured people is always a tough fight."

“That’s what I thought too. I thought we were going on a long business trip.” Secretary Sun sighed, looking quite surprised. “But they suddenly backed down, leaving us all confused.”

Wang Xiao was even more surprised than him, her eyes wide open like a cat's, showing a rare childlike demeanor befitting a 25-year-old: "Why? What happened?"

"Something must have happened." Secretary Sun put down his teacup and gestured for his secretary to take a newspaper out of his briefcase.

It was colorful and a bit wrinkled, looking like it had been used as wrapping paper.

That's probably why it was able to appear in front of Wang Xiao.

After all, it was printed with traditional Chinese characters and was a Hong Kong newspaper.

Under current regulations, books, periodicals, and newspapers from Hong Kong are not allowed to enter mainland China.

Even if it's just a gossip-filled entertainment section, it won't work.

Wang Xiao reached out and took the newspaper, trying to decipher the traditional Chinese characters, and asked curiously, "Has something big happened?"

Secretary Sun didn't answer, but gestured to her: "Look at this."

Wang Xiao burst out laughing as soon as he saw it: "The mouths of Hong Kong media are truly amazing!"

Even she, who considers herself to have a sharp tongue, can only admit defeat when she sees the sensational headlines of Hong Kong media.

The gossip news was nothing special, but it listed a few young men and gave them titles such as "Four Young Masters" and "Four Princesses".

But the writers are so skilled; they can make even the simplest things like eating, drinking, and having fun sound amazing.

Wang Xiao laughed as she commented, "My goodness, you can say things like that? Hey, is this just made up? I know Zhao Xiuzhi, how did she end up in Hong Kong? And Lan Kwai Fong no less. That can't be right, she should be in Beijing attending a training course for young cadres. I went to the Jiangdong Provincial Government on the sixth day of the Lunar New Year and heard her say with my own ears that she was going to a training course for young cadres."

Secretary Sun took a sip of black tea, swallowed it, and then sighed with the aroma of tea: "That's right. People who should be attending training courses, I don't know why they went to Hong Kong to have fun, and even got photographed by reporters."

"It really shouldn't have happened." Wang Xiao shook his head, his face full of regret. "She really didn't appreciate her good fortune."

Secretary Sun was taken aback before realizing which words were being referred to: "Not appreciating one's blessings?"

“Yes.” Wang Xiao nodded, also picking up her teacup and smelling the aroma of the tea. “The opportunity to go to Beijing to participate in the training program for young cadres is so rare. So many young cadres work diligently, working overtime every night, neglecting their families and children, and after so many years, they still can’t get such an opportunity. She has only been working for a few years. The opportunity is handed to her, and she doesn’t cherish it.”

Secretary Sun was somewhat moved.

Strictly speaking, he could be considered the son of a cadre, but his father was only a section-level cadre, making it impossible for him to be born at the finish line of others' struggles.

He worked his way up step by step, from the lowest-level clerk to where he is today.

When he was Zhao Xiuzhi's age, let alone the national youth cadre training program, he would fight tooth and nail for even the city's youth cadre training program, and he still might not be able to get it.

As a result, the young lady didn't care, skipped class, and went to Hong Kong to have fun.

Secretary Sun blew on his tea, took a slow sip, and agreed, "Yes, we really should cherish what we have."

After finishing his tea, he put down his cup, took back his newspaper, tapped his knuckles lightly, and said meaningfully, "Otherwise, who knows when your good fortune will run out and someone will find fault with you. Don't you think so, Mr. Wang?"

Wang Xiao first nodded with a smile, then a look of confusion appeared on his face, and finally his eyes widened in astonishment: "No, Secretary, what you mean is, you don't mean to suspect me, that I hired the reporter, do you? God! Don't scare me, you think too highly of me. To be honest, I have never been to Hong Kong to this day."

She wasn't lying; the events before she time-traveled definitely didn't count.

Since she brought it up, Secretary Sun decided to be frank: "President Wang, please don't underestimate yourself. You also have companies and businesses in Hong Kong."

Wang Xiao looked utterly speechless: "Secretary, if you say that, I'll never be able to clear my name, no matter what. What kind of property do I own in Hong Kong? I wanted to buy land, but I had no connections, I couldn't buy any at all, so I could only buy houses."

"Besides that company, others may not know what's going on, but do you? It's to facilitate the introduction of scientists from the Russian Federation and Ukraine to work on chips."

"Keeping it in Hong Kong is to avoid suspicion and prevent international figures like COCOM or domestic forces in Russia and Ukraine from making a fuss and causing trouble. Even the property I bought in Hong Kong is for them to stay in when they visit Hong Kong regularly, and I also use it as collateral for a mortgage to pay their salaries."

She complained, "This is what you call having an industry? A real industry is like this—"

She reached out and tapped the newspaper repeatedly, saying, "Only someone of Mr. Zhou's caliber qualifies."

Secretary Sun glanced at the person she had chosen; it was Zhou Beifang, the son of the top executive of Shougang Group.

This is indeed a capable person, holding real power over Shougang's foreign trade. When Shougang was about to list in Hong Kong, even Hong Kong's richest man took the initiative to offer money and seek cooperation.

Gossip news reports that Zhou Beifang owns three luxury homes in Hong Kong, including one in Mid-Levels that cost over HK$28 million. When he went to South America for business, foreign businessmen said, "Associating with Mr. Zhou would make you unable to believe that he comes from a developing country; his homeland must be one of the richest countries in the world." (Note ①)

Wang Xiao complained, "Compared to them, I'm a joke."

Secretary Sun frowned slightly; he hadn't paid much attention to Zhou Beifang's news before.

Now that Wang Xiao has pointed it out, the son of a state-owned enterprise executive lives a more luxurious life than a private business owner; he really feels uncomfortable.

HK$28 million! Can one of Shougang's most profitable branches earn that much money in a year?

The national steel industry is generally struggling right now, and some people are spending money like water.

Since Guan Zhicheng in 1990, how many cadres have fallen from grace at Shougang Group? And yet, this unhealthy trend still hasn't been stopped!

Seeing him frowning and silent, Wang Xiao misunderstood and advised, "Secretary, I think you might be overthinking it. It's perfectly normal for Hong Kong tabloids to report on princes and princesses. It's 1994 now, and there are only three years left until the handover. Hong Kong people are bound to be curious about things on the mainland."

Secretary Sun felt increasingly suffocated.

After so many years of national development and so many achievements, all that comes out in the eyes of the people of Hong Kong is this utter nonsense.

But he can't say the newspaper is wrong. If you dare to do it, why don't others dare to report it? The public has the right to know.

He could only mutter to himself, "We can't generalize and write only about these kinds of things."

Wang Xiao laughed and said, "It's perfectly normal for them to write these things."

At this point, Secretary Sun completely disagreed: "This is normal?"

“Of course.” Wang Xiao said seriously, “Hong Kong is overwhelmed with information, with tons of newspapers and magazines. Only news that grabs attention will find a market. Gossip, privacy scandals, and scandals are definitely more appealing than praising the good. Besides, Hong Kong needs this kind of news right now.”

Secretary Sun frowned: "What do you mean? What do you mean Hong Kong needs this kind of news?"

Even the most glamorous capitalist world can't be all this low-class.

“The economy, the real estate economy,” Wang Xiao explained. “From 1990 to now, Hong Kong’s housing prices have been rising rapidly, and real estate developers have made a fortune.”

Secretary Sun still didn't understand what she meant.

In 1994, when land-based finance had not yet taken off, he was truly insensitive to this aspect.

Wang Xiao ignored him and continued speaking: "However, this upward trend has reached a peak. Firstly, Hong Kong only has so many people, and the market is limited. Secondly, the US dollar has raised interest rates."

Wang Xiao stretched out her hand, and Lyuba immediately handed her the newspaper she needed. It was a domestic economic newspaper, containing only a translated news item.

"Look at this news article. On February 4, 1994, the Federal Reserve raised the federal funds rate by 25 basis points from 3% to 3.25%. This was the first time the Fed had raised interest rates since 1989, which meant that the United States was shifting from 'lowering interest rates to stimulate the economy' to 'preventing inflation'."

“The Hong Kong dollar has been linked to the US dollar since 1983, with a fixed exchange rate of approximately HK$7.8 per US dollar. The core of monetary policy is to maintain exchange rate stability. Therefore, when the Federal Reserve raises interest rates, the Hong Kong dollar must also raise interest rates; otherwise, capital will flow out, and the market will sell Hong Kong dollars and buy US dollars, impacting the exchange rate.”

"With the Hong Kong dollar interest rate hike, Hong Kong people, who generally buy homes with loans, will face increased repayment pressure, leading to a decrease in their willingness to buy homes. In addition, the government's measures to curb soaring housing prices will cool down the overheated housing market."

"But this is certainly not something that real estate developers would like to see. People who already own property also do not want prices to fall in order to preserve and increase their value."

"At this point, they all need new entrants to take over this game that's like musical chairs."

Upon hearing this, Secretary Sun finally understood.

It's like land speculation in Hainan; if someone takes over, you make money; if no one takes over, you're stuck with the land.

Wang Xiao tapped the wheelchair lightly with his finger and smiled, "The mainland, with its large population, becomes the best choice."

"However, at present, the annual income of an average person in mainland China may not even be equivalent to a month's salary in Hong Kong. The average price of small and medium-sized residential properties in Hong Kong is about HK$4,200 per square foot, which is almost 20 times the price of housing in Beijing! Expecting mainland wage earners to buy houses in Hong Kong now is nothing short of wishful thinking."

"The only people they can count on are people like Young Master Zhou."

“They also need such aristocrats, a large influx of aristocrats into Hong Kong to buy property, to prop up the property market.”

Wang Xiao tapped the newspaper lightly and chuckled, "So it's perfectly normal for Hong Kong media to be hyping up the extravagant lifestyles of these young masters and princesses at this time. Without their lavish spending, who would take over the real estate market?"

She sighed softly, "That's why people should cherish their blessings. If you don't, going to Hong Kong to indulge in debauchery during this critical time is like offering yourself up as a target for others."

She shook her head, looking quite regretful. "It shouldn't have been like this, it really shouldn't have been. Her family, too, shouldn't have spoiled her like this all the time."

An indescribable emotion surged through Secretary Sun's chest, and he almost gave a bitter smile: "Such a grown man, his parents can't be following him around every day."

Moreover, the Zhao family may not even realize that they are now in the eye of the storm.

It's perfectly normal for a precious daughter to suffer a setback in love, be sent back to Beijing by her future mother-in-law who had her eye on her, and feel deeply wronged, to go to Hong Kong to clear her head.

After all, even Sun Chengbin, an official who was promoted through economic means, didn't realize that a US dollar interest rate hike could have such a completely unrelated impact.

The moment the thought crossed Sun Chengbin's mind, he was startled.

He was almost horrified to discover that he had actually been persuaded by the young businesswoman in the wheelchair sitting opposite him.

He now has no reason not to believe that everything that happened to Zhao Xiuzhi was a coincidence, something she brought upon herself.

It has nothing to do with Wang Xiao.

Only his intuition told Sun Chengbin, who had spent half his life navigating the treacherous waters of officialdom, that no, that was not the case.

All of this was actually the ingenious design of the woman on the other side.

She neither framed nor slandered anyone; she simply allowed the information to be revealed at the most opportune moment to achieve the desired result.

The teapot has been refilled with water for the third time. The tea soup has turned orange-red, the pine smoke flavor has faded, but the honey aroma has become more mellow.

Sun Chengbin looked at Wang Xiao deeply, sighed deeply, and couldn't help but sigh, "You and her are truly like the top horse versus the inferior horse in Tian Ji's horse race."

It's not even in the same league; it's a complete and utter crushing defeat.

Wang Xiao smiled and took a sip of tea: "I know, so please don't laugh at me, Secretary. I know my own limitations. What kind of background do I have? How could I possibly compare to a young lady like her? I've never even thought of competing with her."

Sun Chengbin chuckled inwardly, thinking, "That's probably because you think they're not good enough for me."

Wang Xiao put down her teacup and said with a smile, "Don't you believe me? I really won't argue with her. What's the point of arguing?"

This is just the first step, a small appetizer.

Her target was never Zhao Xiuzhi.

She couldn't be bothered to waste her time on the child's table.

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Note ①: The Shougang economic case mentioned in the text comes from "Memorandum on the Series of Major Economic Cases of Shougang" published in the September 1997 issue of *Democracy and Law*, authored by Jiao Huidong. Guan Zhicheng was executed, and Zhou Beifang was later sentenced to death with a two-year reprieve, but there were new developments later. If you are interested, you can search for information online yourself; I won't post it here. I have always emphasized that our country is constantly progressing. The corruption problem in the 1990s was far more serious than it is now. It is precisely through continuous crackdowns that things have gradually improved. Also, there will definitely be no update at 8 AM tomorrow, because I haven't written it yet, and I'm going to sleep. I don't know when I will update tomorrow; I'm still adjusting the outline, and this chapter feels particularly awkward to write.