Chapter 296: Seven municipal investment companies from five places gathered together
January 1, night, The Peninsula Hotel.

Xie Jingxing met Director Yang of the Luzhou Development Zone Management Committee again. The two of them ate clear soup noodles together from a large bowl. Xiang Yuan, deputy general manager of Luzhou Construction Investment Company, accompanied them with an enthusiastic look.

It is not impossible to discuss cooperation on the 100 billion semiconductor industry fund now. The only drawback is that the strong scrutiny faced by Xiyou and Taihe is still continuing. He asked someone about it and the final result should be a routine administrative penalty.

It seems that the move was just enough, which is very consistent with the traditional wisdom of moderation for thousands of years. It is rare to end the war in a draw.

However, it is difficult for onlookers like them to judge who is stronger and who is weaker, and whether this matter is really over and will not be discussed again, or whether the open and covert attacks will continue endlessly.

The worst and most likely scenario is that when the gods fight, they will first beat up those who are here to join in the fun. If they can't deal with Xie Jingxing, can't they deal with you, Luzhou?

Xiang Yuan made his analysis based on simple human relationships, and tactfully reminded Director Yang to wait and see, as they were not the only ones interested in cooperating with the 100 billion yuan fund.

They have already taken the lead before, and now it is the turn of others. If you want to have a share of the spoils, don't just sit around and share the pressure together.

"It's not easy to obtain the true scriptures, Xiao Xiang."

Director Yang only said this, and then came to the appointment without hesitation.

"Mr. Xie, I see you like pasta?"

After the two big guys put down their chopsticks, Xiang Yuan withdrew his attention and started a conversation.

Xie Jing Xing replied seriously: "Fortunately, in our line of work, we travel all over the world and can always try all kinds of specialties."

"We have quite a few specialties in the Jianghuai region. Fuyang Gela noodles, Huaibei soup noodles, and Taihe flat noodles are all worth a try. You are welcome to come to our local area to taste them." Xiang Yuan took the opportunity to extend the invitation.

Xie Jingxing raised his eyebrows in surprise: "There are also gela noodles in the Northeast, I wonder if they are the same as what you said."

Director Yang smiled faintly and let the two talk. He took out his cigarette case, lighted out a cigarette and puffed away, looking like a coal miner who had just finished a day of hard work and filled his stomach.

As he was speaking, the door of the box was suddenly pushed open, and two middle-aged men with ruddy faces rushed in holding wine dispensers.

"We were having dinner next door, and the waiter told us that you, Mr. Xie, were here too. Who are these two? They are from Luzhou. I'm sorry to bother you. I'll drink a glass of wine as punishment."

"Are you Director Yang of the Luzhou High-tech Zone Management Committee? Then I have to drink another glass of wine as punishment. You are too blind to recognize the great leader."

"Thank you for your concern, boss. If it doesn't work, I'll punish you with another elbow. Wait for me to eat a few bites of food and then I can drink. Waiter, add two chairs."

The two middle-aged men punished themselves until their buttocks fell onto the chairs. Director Yang stopped smiling. Seeing that the conversation could no longer continue, Xiang Yuan cursed inwardly that it was shameless for them to rob someone on the way.

These two guys are from Chengdu. Last week, they took advantage of the time when they were attracting firepower and hid behind them. Now they are here again this week. They have no shame at all!

In this day and age, people are ashamed to starve and as shameless as to eat until they are full. 400 billion yuan in real money and hundreds of billions of big funds are right in front of them. They are all for their own business, not to mention the second brother. A moment later, the Xi'an brother who "coincidentally" ate next door returned a sincere greeting to the Rongcheng brother who glared at him. A little later, the Suzhou brother also happened to eat next door and came to say hello.

The general manager of the hotel was in high spirits and promptly presented Mr. Xie with a bottle of Moutai. Although the entire place was not booked today, it was a wonderful fate!
There are old friends everywhere from all over the world. The four companies that I dared to contact a week ago are all here, followed closely by Zhuhai, Zhengzhou and Tianjin.

The domestic semiconductor industry has basically formed an industrial cluster of seven companies in the three regions of the Pearl River Delta, Yangtze River Delta, and Beijing-Tianjin-Hebei, plus the two newly started regions of Southwest and Northwest.

"In my paper, I summarized the three problems currently faced by government-guided funds. With the release of relevant guiding opinions, the legal system and norms of guided funds have been initially resolved, and will be further improved in practice in the future."

There were many people talking and thinking, and Xie Jingxing expressed his attitude by talking about the general direction: "As for investment risks and capital misalignment, these two problems must be solved by respecting marketization and reducing government dominance."

"For example, at the fund operation level, the principle of risk-sharing and benefit-sharing should be followed at the very least. Regardless of whether government funds are subordinated investors, it is best to have clear regulations on the system of accountability for losses."

He said bluntly: "Many sub-funds of guidance funds are extremely outrageous in their pursuit of accountability for the projects they invest in. Five years after a project failed and was withdrawn, they were able to jump out and demand compensation at the critical moment when the project founder was raising money for his wedding."

“They are almost holding the founders accountable for their entire lives, forcing the founders to be powerless. How can the founders take their money if they have a choice? And the quality of the invested companies that have no choice but to take their money goes without saying.”

Before this year, there were not too many or too few domestic guidance funds that could do such a thing. Everyone present looked at each other and understood tacitly.

Mr. Xie, you are so awesome. We all know that you are a tough guy. The fact that you are here means that we basically agree with your ideas in the general direction. Please feel free to talk about anything you want to say. We are here to listen.

"Of course, under the premise of clear investment risk principles, corresponding regulations must be made for fund operation and management."

Xie Jingxing continued to set conditions: "Dual GP system, the government and the fund custodian operator will each select a fund manager, and the project investment will be a direct investment + parent fund investment method."

"The return on investment ratio and the transfer of investment returns revolve around local investment promotion policies. After all, this is a natural conflict between social capital and government funds, and is also the source of the mismatch of government funding sources."

"Xiyou is willing to accept the assumption of part of the subordinated capital share and stipulate the investment amount within a time limit to solve the dilemma of 'deposited funds'. However, in terms of local investment, we do not want to introduce the investment method of 'equity in name but debt in reality'. Everyone knows that this will increase our capital use costs and put too much pressure on the overall operation of the fund."

Xie Jingxing said one by one, out of a total of seven potential partners, five of them ran away one after another. It was not that they were unwilling to accept, but that they were not qualified to make the decision. Some of these conditions were very harsh, while others were very generous, so they had to go home and ask for instructions.

There are only two left, Gusu and Luzhou. The former has a robust local economy, so it is not necessary for them to be too humble in handing over the hundreds of billions of funds; the latter is used to being poor, and since Director Yang has personally shown up twice, it would make sense for them to be more humble.

He invited Mr. Xie to eat noodles in Luzhou in a private capacity on the spot. Putting aside the success or failure of the business, they just wanted to make friends!

Xie Jingxing had a good impression of Director Yang, and after a little hesitation, he made an appointment to go to Luzhou with him.

I will have to go to several other cities later. This job is not easy. Once the arrow is shot, there is no turning back. It is never too late to raise a 100 billion yuan fund for the chip industry.

The sooner the layout is made, the better. In this regard, Luzhou has an advantage.

(End of this chapter)