Li He had learned his lesson and didn't even want to leave the house. Occasionally, he could enjoy Bafra's massage and tickling services, which was a little corrupt.
When the China business delegation arrived in Moscow, Li He didn't go to greet them. He just held a welcoming banquet and booked the entire Moscow hotel.
Ambassador Liu Qing said, "In principle, we have agreed to jointly invest in the establishment of a policy bank. Before we talk to the Russian side, you need to discuss it with Minister Wang Yiqian of the Ministry of Finance. As for the investment ratio and mortgage conditions, you guys can decide yourselves."
"No problem." Li He didn't expect the delegation to be of such high standards. Furthermore, the delegation's first stop was actually Russia's North Shipyard. He was a little surprised.
Liu Qing said, "The people from the Ministry of Finance proposed to discuss based on the proposal provided by the Ministry of Finance? Do you have any objections? "
Li He nodded in agreement. "This way, both sides can save time."
"That's good. I've brought the proposal. Take a look at it yourselves."
The well-trained finance and audit team led by Pan Youlin gave a very specific opinion.
Li He had a rough idea of what to do.
The venue for the meeting was the conference room of the Moscow hotel.
Wang Yiqian was a polite old man dressed in a suit. When he was led in by Liu Qing, he praised Li He, "I've long heard of you. Now that I've met you, you really live up to your reputation."
"Thank you." Li He politely gave up his seat. The people from both sides were already in place. There were about ten people sitting on both sides of the conference table. On one side was the representative from the Ministry of Finance, and on the other side was Pan Youlin's team.
Wang Yiqian smiled. "In order to save time, we still need to listen to your opinion."
"We don't have much of an opinion on the investment ratio and amount, but I have a small request. I don't agree with the model of the state-owned assets supervision institution directly exercising the rights of the investor to the joint venture." Li He was determined not to deal with such a troublesome department like the State-owned Assets Supervision and Administration Commission.
The people from the Ministry of Finance were stunned. They didn't know what Li He was talking about. Wang Yiqian smiled and pointed to a middle-aged man. "This is Director Wu from the State-owned Assets Supervision and Administration Commission. If you have any opinions, you can speak directly."
Director Wu said, "I'm all ears."
Li He waved his hand and said solemnly, "No, no, everyone might not understand what I mean. In that case, the State Assets Supervision and Administration Bureau acts as both a regulator and a funder. This model needs to be discussed. What I mean is how to avoid overlapping and lengthening the principal-agent chain between funders and companies. This will essentially lead to unclear rights and responsibilities. Isn't the country advocating market-oriented operation of enterprises and the separation of government and enterprise? So how can we truly achieve market-oriented operation? This is a problem that everyone has to consider. "
"I understand what you mean." Wang Yiqian didn't mind. "As you know, time is tight this time. Since you raised this question, you must have a plan in mind. Tell me."
"My opinion is that the state-owned capital investment companies or mining companies under the Ministry of Finance should perform the investor's rights and truly separate the government from the enterprise."
Wang Yiqian said, "Then what you're saying is that if we really set up a joint venture bank, the State Assets Supervision and Administration Bureau won't have the final say in the future?"
Li He smiled and said, "Let's give an example. The Bank of China belongs to the Ministry of Finance, right? For example, and I'm saying for example, the China National Petroleum Corporation and our Bank of Commerce will jointly set up a bank. In the future, the Ministry of Finance's instructions will mainly be transmitted through the Bank of China. Through a standardized corporate governance structure, it will be transmitted through the 'market-oriented' method. "
"Brilliant!" Wang Yiqian applauded and smiled. "I'll make the decision. I agree!"
He was very happy. This gave him a lot of inspiration. Through a simple change in structure, they can achieve the separation of government and enterprise, and clarify the role of the Ministry of Finance itself. Also, this plan won't cause any losses to the Ministry of Finance. It's a little disgraceful for the Ministry of Finance to do the work of a company. It's better for the Ministry of Finance to do this!
"Thank you." If the other party doesn't agree, Li He really can't do anything.
"Then the Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China will jointly invest. These banks have always been doing policy-oriented business, and letting them invest is even more deserving!" The more Wang Yiqian thought about it, the more he felt that this step was brilliant.
Then the following negotiations are basically finalized. The four major banks and the Bank of Commerce will jointly invest 400 million USD to set up the China Development Bank. The four major banks will invest 240 million USD for 60% of the shares, and the Bank of Commerce will invest 160 million USD for 40% of the shares.
In theory, this is the case. But in reality, Li He has to pay for this as the government lacks foreign exchange.
But what will the Ministry of Finance use as collateral?
The four major banks are not shareholding companies, and they can't use their shares as collateral.
Wang Yiqian waved his hand. "We will use the shares of Bank of Communications and China Merchants Bank as collateral."
He said this without confidence. Even if he sold both banks, it won't be worth 240 million USD. Furthermore, it's just a small amount of shares.
"I agree." Li He stopped Pan Youlin, who was in a hurry to object. Only he knows the value of these two shareholding banks. These two banks were the earliest shareholding banks in the country, and they don't have many restrictions. Needless to say, the momentum of their development goes without saying.
But he can only mourn for these two banks. If they are not careful, they will be sold out, and they might even have to count the money in the future.
Wang Yiqian stood up happily and shook Li He's hand. "If everyone is as responsible as you, and can support our work regardless of the gains and losses, then we won't have to worry about this all day."
Li He smiled. "I hope Minister Wang will take care of me in the future."
"Of course, of course." Wang Yiqian couldn't close his mouth from smiling.
The Ministry of Finance is very efficient. That afternoon, they compiled the financial information of China Merchants Bank and the Bank of Commerce through fax. Pan Youlin and the rest started the financial audit, but no matter how they look at it, they will lose money. The value of the collateral cannot cover the amount of the loan. The difference is huge.
"Mr. Li, isn't this too hasty?"
Li He smiled and said, "I hope they will sell it to me directly. With the development of the Chinese economy, the banking and financial industry will enter an explosive period."
Pan Youlin said, "The Ministry of Finance only has 12% of the shares in Bank of Communications, and only 23% in China Merchants Bank. I think they are really looking forward to selling."
"Then you can ask around. If they are really willing to sell, I will directly give them 240 million US dollars." Li He said in a rich and overbearing manner.
Pan Youlin didn't respond. If he really did that, he believed that Huang Bingxin would definitely kill him.
The Ministry of Finance, representing the four major banks and the Bank of Commerce, finally signed the agreement and formed the China International Development Bank.
And Li He's money was transferred to his account immediately. The 400 million US dollars made the China delegation ecstatic.
They used the plan that they had prepared in China to start the talks with the Yeltsin government. The first day did not involve economic negotiations. The signed agreement was to open a tourism project in the border city between China and Russia.
Li He has been sitting at the side, constantly reminding the China delegation not to forget about the Bedeleev Research Institute.
The China delegation's plan was not the loan plan that Russia had imagined. It was mainly a procurement contract.
The China delegation wanted to get a loan from the China Development Bank and buy, buy, buy!
Of course, the Russian government was happy. If you are willing to buy, I am willing to sell!
Then the two sides began to bargain.
The first contract was for China to start importing Russia's S300 anti-aircraft missiles, and at the same time, they were willing to provide China with a ruble loan.
The more the negotiation, the more confidential it was, and Li He was not qualified to participate.
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