Transaction 218

Paulson understood what Wei Dongsheng meant.

The Rose Fund considers its ability to perform contracts and specifically selects Wall Street financial oligarchs to start. The stronger the opponent, the higher the short-sale limit against it. Those short-handed contracts that are left-handed and right-handed are nothing more. The financial oligarch earns the handling fee of the Rose Fund and then earns the handling fee of the investors. Each deal can bring them considerable profits. And short contracts that require financial oligarchs to pay out of their pockets are troublesome. On the one hand, financial oligarchs use their usual tactics to delay and then delay, on the other hand, they use their political and economic resources to limit the Rose Fund's debt collection.

Wei Dongsheng is based on the condition of financing Lehman Brothers and requires relevant institutions to loosen the constraints of the Rose Fund.

Paulson did not have the confidence to deal with this matter, and proficiently offered to drag the word tactics: "This is a very tedious thing, it needs..."

Wei Dongsheng intercepted Paulson’s excuses: “The Rose Fund does not have sufficient cash.”

Paulson: "How much is the gap?"

Wei Dongsheng: "The lack of 20 billion US dollars."

Paulson understood Wei Dongsheng’s threat: “The condition for the Rose Fund’s financing of Lehman Brothers is that the relevant departments completely lift the restrictions?”

Wei Dongsheng: "At least some restrictions need to be lifted."

Paulson: "What are they?"

Wei Dongsheng: "Remove transaction supervision and allow Rose Fund to raise funds from China Investment and CITIC International."

Paulson neither vetoed nor agreed: "give me two hours for negotiation."

Wei Dongsheng did not rush for success: "Okay."

Wei Dongsheng did not place all bets on Paulson. During the phone call between Wei Dongsheng and Paulson, Fuld had made a desperate bet to activate all political, economic and other personal resources to persuade stakeholders to temporarily lift restrictions and supervision on the Rose Fund. . Perhaps the Fed did not want Lehman Brothers to collapse within its abilities, or perhaps Fuld’s emergency public relations had an effect. At 0:19 on September 15, New York time, Paulson conveyed a positive result to Wei Dongsheng: "Yes."

Wei Dongsheng chased after victory: "Do one more favor."

Paulson: "Please speak."

Wei Dongsheng: "You also know that China and the United States have different systems. Multi-billion-dollar investments must pass cumbersome administrative approval. If you want to settle acquisition negotiations at the opening of the stock market, you must do special things to improve efficiency, so I want to ask you As the U.S. Secretary of the Treasury, he called the Cabinet of China and made a formal request for financing to the Cabinet of China."

The U.S. government is used to serving capital. Paulson has already been familiar with this routine in his contacts with China. He immediately smiled and promised: "Who should I call?"

Wei Dongsheng named: "The chief assistant of the cabinet and the elder of the cabinet in charge of finance Jin Zongxian."

In about twenty minutes, Paulson heard bad news: "The situation seems not very optimistic. The first assistant and Elder Jin Zongxian have concerns about investment safety."

Wei Dongsheng did not comment on Paulson's conclusion: "Don't worry, leave it to me next."

Wei Dongsheng was about to chat with Paulson, when he suddenly saw Ginguo picking up his cell phone and gestured to Secretary Wu of the cabinet chief to call. Wei Dongsheng quickly cut off the call with Paulson and took the phone from Ginguo: "I am Wei Dongsheng."

Secretary Wu: "Hello Mr. Wei Dongsheng, where are you now?"

Wei Dongsheng: "Now, I'm in the Beihai courtyard that you helped arrange."

Secretary Wu: "That's right, you have time to... wait a minute."

Secretary Wu suddenly covered the microphone to isolate the voice from the opposite side. It took about two minutes before the voice continued: "Mr. Wei Dongsheng, please stay in the Beihai Courtyard. An elder is going to visit you."

Wei Dongsheng was not surprised, and calmly asked, "Which elder is it?"

Secretary Wu: "Elder Jin Zongxian Jin."

Wei Dongsheng: "I see. I am waiting for Elder Jin to come to the humble house in the Beihai courtyard."

There is a 12-hour time difference between Yenching and New York. New York is in the early morning of midnight, and Yenching is in the afternoon before the heat wave. The Beihai Courtyard is located on the west side of the North Sea, and there is only one Aoyu Bridge from the power center of China. The cabinet elders stationed in Beijing can summon Wei Dongsheng at any time and visit Wei Dongsheng at any time.

Soon, Wei Dongsheng met Jin Zongxian.

When Wei Dongsheng came to Yanjing to quickly start using the cash flow of the online game "Ten Kingdoms", Jin Zongxian was the deputy mayor and mayor of Yanjing. Thirty years of memory told Wei Dongsheng that Jin Zongxian's political achievements will not stop at the mayor of Yanjing. Wei Dongsheng knew that Jin Zongxian had a great future, so he listened to Jin Zongxian's opinions as much as possible, and gradually became familiar with him through projects such as the supercomputer Cambrian. After Chunqiu, Zhiyu, Zhixing, and Zhuwei made their fortunes at a terrifying exponential speed, Jin Zongxian kept increasing the importance of Wei Dongsheng, and the two gradually forged a friendship in a silent manner.

Although the friendship between Wei Dongsheng and Jin Zongxian is far less than one ten thousandth of Song Ningxing's, they have been able to meet in private and occasionally say jokes.

Perhaps it was because of the personal friendship accumulated before that Jin Zongxian was willing to visit Wei Dongsheng in the Beihai Courtyard.

Jin Zongxian saw Wei Dongsheng and joked with a smile: "You really can't be free."

Wei Dongsheng did not say any hypocritical rhetoric, and honestly communicated with Jin Zongxian: "I really don't want to be busy with these things. Compared with financiers and entrepreneurs, I prefer to be a researcher, build a few supercomputers, and tap the potential of artificial intelligence."

Jin Zongxian humorously said a few emotionally connected rhetoric, and the topic shifted to Rose Fund: "Do you want to acquire Lehman Brothers?"

Wei Dongsheng did not pretend to be the great savior of the American people in front of Jin Zongxian, and took the initiative to confess the difficult situation of the Rose Fund, and concluded: "The Rose Fund protects and saves itself!"

Jin Zongxian asked: "Do you need financial support from CIC and CITIC?"

Wei Dongsheng admitted: "I need the torii of CIC and CITIC, as well as the funds of CIC and CITIC. With the torii of CIC and CITIC, the Rose Fund has an official background, and there is no need to bear the discrimination on Wall Street alone; With the support of the capital channels of China Investment and CITIC, the Rose Fund can smoothly transfer the profits."

Jin Zongxian: "CIC is negotiating with Morgan Stanley and plans to increase its holdings to 49%."

Wei Dongsheng: "I know."

After the subprime mortgage crisis detonated last year, CIC invested $5 billion in a stake in Morgan Stanley with a bargain-hunting mentality. Unexpectedly, the situation in 2008 was worse than that in 2007, and the subprime mortgage crisis triggered a financial crisis: In October 2007, Morgan Stanley's stock price hovered at 60 yuan per share; in December 2007, Morgan Stanley's stock price hovered at 45 per share. Every month; in September 2008, Morgan Stanley's stock price hovered at $35 per share; considering the large-scale financial crisis has just begun, Morgan Stanley's stock price is still falling.

If only the book income is considered, CIC has already suffered a huge loss.

Therefore, Morgan Stanley is dissatisfied with the asking price of CIC to increase its holdings to 49%, and CIC does not dare to take risks as it did last year.

Jin Zongxian: "Lehman Brothers is worse than Morgan Stanley. The risk of investing in Lehman Brothers is ten times higher than Morgan Stanley."

Wei Dongsheng: "I can guarantee this investment."

Jin Zongxian: "How to guarantee?"

Wei Dongsheng: "Assume that China Investment Corporation invests 4 billion US dollars to buy 10% of Lehman Brothers shares. The term is 3 years and the annual interest rate is 9% during the period. If there is a net loss at the time of delivery after three years, I am willing to contribute the capital to smooth it. CIC; if there is a loss, I will be responsible for the compensation."

Jin Zongxian: "What kind of guarantee?"

Wei Dongsheng: "The Zhiyu Sapientia_3G and Sapientia_2 smartphones launched by Zhiyu Technology are expected to exceed 20 million in 2008. Each smartphone is 5,200 yuan, and 20 million units are 104 billion yuan in cash flow. Moreover, Huawei, ZTE, Lenovo, Meizu and other companies have doubts about the castrated version of the mobile operating system hOS. Zhiyu and Zhixing decided to personally promote the hOS system. Zhiyu formed Zhiyu Technology to launch a multi-touch capacitive screen priced at 3,000 yuan for the mid-range market. Smart phones. Zhixing Technology’s mobile phone business sales performance is no weaker than Zhiyu’s release of Sapientia_3G last year. I think that Zhiyu and Zhixing’s fixed assets and Rose China’s cash flow should be enough to guarantee US$4 billion or US$8 billion transactions. "

As Wei Dongsheng said, Sapientia_3G has detonated the multi-touch capacitive screen mobile phone market several years in advance. Zhiyu Technology shipped about 9 million smartphones in 2007; before September 2008, smartphone shipments had exceeded 15 million, and the total annual sales volume has a great probability of exceeding 20 million. Due to the rapid growth of the smart phone business, Zhiyu's total annual revenue has also increased sharply. The data may double to 200 billion yuan, becoming the first global 500 company under Wei Dongsheng.

A Fortune 500 company with great growth potential in the future is definitely eligible to guarantee USD 4 billion transactions.

Jin Zongxian no longer questioned.

After about half a minute of silence, Jin Zongxian urged Wei Dongsheng: "I still hope you focus on industry."

Wei Dongsheng laughed and said: "I have not left the industry. Zhiyu, Zhixing, Zhuwei and other companies are moving forward at a high speed. Next year, Zhiyu even hopes to earn the honor of the world's top 500. Forbes released the 2008 World Top 500, There are only 35 companies in the China region, and Zhiyu can climb to the top of the world's top 500 in just a few years. I can’t say I ignored it anyway.”

Jin Zongxian shook his head: "You are in a rush to join Lehman Brothers!"

Wei Dongsheng: "Capital is not everything, but without capital, development is definitely impossible to talk about. If the Rose Fund is smashed by Wall Street, it will at least delay the development of Zhiyu, Zhixing, and Zhuwei for three years, and it is the most critical three years. Therefore, I hope that China Investment Corporation, China CITIC or other Guozi first banks can lend a helping hand to the Rose Fund in the most critical moment."

Jin Zongxian did not understand the importance of the Rose Fund.

However, through this conversation today, Jin Zongxian understands that Wei Dongsheng values ​​the Rose Fund very seriously. After considering it for a while, Jin Zongxian replied in good faith to Wei Dongsheng: "If you are willing to use Zhiyu and Zhixing's equity guarantee, in principle, I agree that Rose Fund will cooperate with China Investment and CITIC to buy shares in Lehman Brothers."

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