Chapter 378 Xie's Gang
It was a perfect night, and the Tengwang Pavilion across the river was full of lights, showing the splendor of the thousand-year-old county.

The slogan "Rise of Science and Innovation" flashed across the LED curtain wall of the landmark high-rise building on the other side of the river. The contrast between the past and the present complemented each other, and the welcome party ended with a lingering feeling.

“To be honest, although I work in the venture capital industry and my main investment areas are in emerging Internet fields, I consider myself a traditional financial practitioner who has received academic financial economics education.”

Back in the hotel suite, Xie Jingxing sat in front of the tea table and poured boiling water with unfamiliar movements, with wisps of light mist emanating from the teacup.

He said hesitantly: "Today I saw many seniors from the banking sector talking about financial innovation, digital economy, financial retail and so on. But when you get back to the essence of the business, it's nothing more than storage and lending."

"Take the same carrot and carve flowers. Traditional banking used to carve peonies, but now Internet finance is carving roses."

"Everyone thought roses were more beautiful, so the traditional banking industry threw away the tools and skills for carving peonies and just copied roses."

"As a venture capitalist who has invested in many Internet companies, I don't think this is a good direction for innovation."

Xie Jingxing gently waved his hand to fan the mist, picked up the teacup and sipped it, "Companies like Tencent and Alibaba first became Internet giants, and then engaged in Internet finance. Whether it is traditional banking, securities companies, or funds, it is not easy to reverse the financial business and push Internet innovation."

Li Renyu sat opposite him, having already gotten over his surprise, and was calmly sipping tea and appreciating the city view.

Huang Laojin from Hua Xia Bank went to Suning, Wang Yongli from the People's Bank of China went to LeTV Finance, and Huang Hao from China Construction Bank is going to Ant Financial. These old acquaintances may have an academic background or a practical background, but they have one thing in common.

——They are all "reformists" who have made outstanding achievements in the transformation and development of the banking industry over the past few decades and are determined to make progress.

But now they have become what Xie Jingxing calls the outdated remnants of the past, pushed by the tide of the times and rushing into the Internet field.

Li Renyu had no intention of commenting on this. After a moment of silence, he asked, "Where do you think the way out for innovation in the traditional banking industry is?"

"This question is too big. Since you asked, I will talk about it based on my own advantages. Please correct me if I am not good enough."

Xie Jingxing put down the teacup: "At present, I have two financial systems under construction, one is an Internet financial system with Xinmei Group as the core, and the other is a traditional financial system with Jingxing Investment Group as the core."

The former is the same as Tencent WeBank and Alibaba Ant Financial, which are funds-payments-assets, using mobile payments to connect the micro-loan and brokerage funds side with the insurance and fund management asset side.

Of course, although it looks fancy, consumer finance lending business is actually the most profitable, and the net profit share will never be less than 70%.

The most important mobile payment port and traffic entrance of this financial system, 'Xinmei Group', has been acquired, and there is no need to say more about the other trivial matters.

According to Lei Jun's theorem, a pig can fly if it stands on the wind. Xinmei Group sits on the throne built in the entire local life field, so there is no reason why it cannot fly.

The latter, Jingxing Investment Group's financial system, will take a path that is unprecedented in the country.

"Industrial chain finance serves the real economy and scientific and technological enterprises, and creates an investment + loan linkage model with Jingxing Investment Group."

Xie Jingxing organized his words and said slowly: "For example, Jingxing Investment Group invested in Xinmei Group, bearing the high risk and high return of subordinated funds. The bank simultaneously provided loans to make up for its funding gap, and as priority funds, it enjoyed relatively low risks and returns."

“We also provide loan, storage, bill and other services to high-quality enterprises in all links of the upstream and downstream industrial chain around the entire local life sector dominated by Xinmei Group.”

“Sounds like the new banking business in Europe and America…Silicon Valley Bank?”

Li Renyu thought about it and smiled with an ambiguous meaning: "I see that Tencent, Alibaba and Suning are all consciously doing this business. Alibaba first started Alipay more than ten years ago because e-commerce transactions were complicated and no bank was willing to do it."

"Now Alibaba is also engaged in financial loan business for platform merchants and users, which is essentially industrial chain finance."

There is nothing new under the sun. In the end, it's just copying others. There is no innovation at all. Why do you think you are special?
Facing the old senior's sneer and questioning, Xie Jingxing was speechless for a moment. After thinking for a while, he asked: "Do you think a single industry can support a bank with a scale of hundreds of billions or trillions?"

"Banks serve customers from all walks of life." Li Renyu gave a straightforward answer.

"If that's the case, I think Alibaba and Tencent are not extreme enough. They just want to get whatever they want in their respective industries."

Xie Jingxing sat up straight and raised his hand to tap his chest: "So far, Grapefruit Capital is the largest investor in the local life service industry and the second largest investor in the online car-hailing industry."

"Yunshan Group is one of the largest private enterprises in agriculture and animal husbandry, Yunhe Logistics is the second largest logistics real estate service provider in China, and Xiyou Luzhou 100 billion Industrial Fund is the largest market-oriented fund in the domestic semiconductor industry."

"Local life, online car-hailing, agriculture and animal husbandry, logistics, semiconductors; in the future there will be e-commerce, social networking, fresh food, catering... In all walks of life, I am the only one!"

He raised the end of his voice slightly and declared it solemnly, without any bluffing or posturing, and was full of conviction from the inside out, as if it was the natural law that should be so.

Li Renyu's back of his hand, holding the teacup, showed blue veins: "Mr. Xie, then the benchmark you want to compete with is not Silicon Valley Bank, but Morgan Bank a hundred years ago."

A hundred years ago, Morgan provided loans to enterprises, issued bonds, and made direct investments. It provided all financial services to enterprises and eventually formed an oligopoly.

Bound American industry no longer calls itself a servant providing services, but a shepherd. Even if God wants to raise funds, he must first say hello to Mr. Morgan.

It was not until the White House in Washington gradually became stronger and broke free from Wall Street's control that it passed a bill to split Morgan into two banks, commercial and investment.

Xie Jingxing pushed Xinmei Group to engage in Internet finance to enter the retail loan and payment business, and established Jingxing Investment Group to extend the fund investment business to the securities intermediary business, and finally connect the two financial systems through banks.

He could not become the second oligarch Morgan, but even so, he controlled investment intermediaries with his left hand and savings and loans with his right hand.

Not only is this unprecedented, but it is unlikely to be surpassed in the next thirty years.

"In fact, ten years ago, the country opened up the regulation of private banks. It supported a group of private capital, and about 20 leading companies from various industries entered the banking industry."

Li Renyu recalled: "At that time, half of the company ran away halfway through this matter. Do you know why?"

"Those companies wanted to use banks as their own financing pool, but when they heard that the country didn't allow this, they changed their minds and ran away." Xie Jingxing knew it very well.

Li Renyu did not stop there and further pointed out: "The risk of related-party transactions is one of the biggest enemies of the banking industry."

"President Li, I just said that I am a traditional financial practitioner who has received academic financial economics education. You can't treat me as a local boss." Xie Jingxing smiled helplessly.

Li Renyu was speechless. It would have been fine if the local boss had insisted on forging ahead and left when the road was blocked, but Xie Jingxing, who claimed to be a traditional financial practitioner, was completely different.

This is a genius who has pushed financial investment to the limit. As he said, no matter how many people are engaged in industrial chain finance, only he is truly involved in all industries. With Jingxing Investment Group as the core, it does not touch the so-called financial compliance and regulatory risks, and is even very consistent with the national strategy for innovative development of the financial industry. It can be regarded as a positive example.

But in fact, once Jingxing Investment Group collapses, it will indirectly create a financial capital pit of trillions of dollars.

So what if one day the financial capital of the Xie Group expands to trillions? Is there any private financial enterprise in the country with a trillion-level capital?
"In your opening speech at the Industrial Bank Financial Research Center, you asked the whole society where the traditional banking industry is headed in the context of the impact of emerging Internet technologies on the financial industry and the reform of the traditional financial industry."

Xie Jingxing filled his teacup: "This is my answer to you, the idea of ​​building a financial system, and the direction of innovation in the traditional banking industry."

"The rose is gorgeous and the peony is graceful, each has its own charm. Why not try the lotus?"

He gestured to invite her in and said in a gloomy tone: "At least compared to going to Lufax, the achievements you have made in your past few decades of career are still useful. Follow the logic of traditional finance to innovate."

Instead of the Internet, which he knew nothing about, Li Renyu supplemented the half sentence that Xie Jingxing didn't say in his mind.

Can he compete with Ji Kuisheng at Lu Jinsuo? Does he still have the motivation to forge ahead and delve into a new industry? At fifty, one knows one's destiny, and at sixty, one's ears are obedient. Can one really follow one's heart and not be influenced by the outside world?

In June, he made a public speech to speak out for the traditional banking industry. In September, he gave a public speech to affirm the Internet finance industry. Next year, he will turn around and join Lufax. If you can’t beat them, just join me and do small loans. Everyone is doing it anyway!
This worldly-wise, insidious and cunning little thief is really good at stirring up trouble and stirring up trouble.

Li Renyu lowered his head and took a sip of the warm tea. "Mr. Xie, thank you very much for answering my questions. I benefited a lot from it. For the time being, I will concentrate on doing my current job well. I haven't thought carefully about what to do after retirement."

"To be honest, I personally dislike seniors like you who have been working diligently for ten years and have devoted everything to their careers."

Xie Jing Xing frowned and said, "I'm going to say this:" My father has no private life like you. I often advise him to play ball or fish and relax occasionally, but he doesn't listen at all and is only focused on work."

"My generation grew up in a poor environment. If we didn't work hard when we were young, we would be eliminated at any time. Although my family often advises us not to work too hard when I have some free time now, my thinking habits have become rigid. I don't know what to do when I want to relax and take a break."

Li Renyu instantly felt the warm tea flowing down his throat into his stomach becoming boiling again. He sighed with emotion, like an elder who needed help.

"That's true. Your generation created the conditions for us, the younger generation, to have a balance between work and life. No matter how busy I am every year, I will take time to participate in charity activities. I'm going to Beijing in a few days. There's a charity dinner held by Poly there. How about you come with me?"

"Uh, that's not appropriate. I've been pretty busy lately."

"The work is never done, so take a break when you need one. I would like to thank you for coming on behalf of Paulie!"

Xie Jing was so sincere that he almost promised on the spot to donate two charitable primary schools. Li Renyu couldn't refuse, so he had to agree reluctantly.

The old thief and the little thief tacitly played the drama of three invitations and three concessions. The recruitment ended with mutual appreciation. The following article will be continued in a week.

“Check Jingxing Investment Group for me. You don’t even know this. It was just established by Xie Jingxing!”

After sending Xie Jingxing all the way to the door of the hotel room, Li Renyu closed the door and took out his phone, using the news he had just learned to despise his trusted subordinates.

It has both the Xinmei Group's Internet financial system and the traditional financial innovation system. The head is a recognized talented young commander and the first impression is good.

According to the venture capital industry’s evaluation criteria, this is a startup project with top-notch entrepreneurial team, business model, business scale, etc.

Either go to Lufax to lend small loans, or join the Xie gang to build a beggars' version of the Morgan Consortium. Thinking about it for more than three seconds would be disrespectful to one's rather brilliant decades-long career!

So the only thing to do is to remain reserved, conduct background checks and gradually deepen the contact.

After all, young people have ambitions as big as the sky, and for the older generations, there is a fine line between joining in to create fame and reputation and losing their reputation in their later years, so they have to think twice before acting.

…………

On the other side, Xie Jingxing had no time to guess how excited Li Renyu was. He left the hotel late at night and rushed to the second social event.

Due to the high level of the summit, the guests who were not in his eyes still had some presence in the city of Nanchang.

Almost all the business restaurants in the city were full and it was difficult to book a table. After searching around according to the address, I finally found a bar hidden in a high-rise office building in the Honggutan Commercial District.

Next to the bar, on the left is a software company and on the right is vacant. The lights in the corridor are dim and the occupancy rate is dismal. When you enter the store, you can see a few scattered customers and the resident singing girl is singing soft jazz music listlessly.

Xie Jingxing told the waiter Qu Dejun's name and was taken to a seat overlooking the river.

"Mr. Xie, you are late."

A few minutes later, Qu Dejun appeared with rosy cheeks, holding a bottle of wine and greeting people warmly. It was obvious that he had just had a drink.

"This store is used by the group to entertain friends. We know everyone coming in and out, and I've been dragged here for drinks several times." He poured two glasses of wine while reeking of alcohol.

Xie Jingxing smiled knowingly. When he was in the Internet industry, he would just randomly find a place to hang out. Old-fashioned industrial companies like Wanda Yunshan were full of gangster spirit.

"I haven't had a chance to talk to you all day. Why are you here?" Qu Dejun asked in greeting.

Xie Jing Xing twirled his wine glass and said half-jokingly: "I heard you were here, so I came all the way to see you."

"Oh, I'm so honored. Just tell me what you want to say."

It was clearly Qu Dejun who took the initiative to invite, and the initiative was exchanged in just a few words.

Xie Jingxing didn't care: "Does Wanda have the practice of publicizing mid-year reports in previous years?"

"It seems not." Qu Dejun laughed loudly.

Xie Jing Xing cooperated with great interest: "It seems that Old Wang is always really angry. I heard from others that Wanda's delisting from the Hong Kong stock market is a feast for the king. Can Grapefruit have a bite?"

"Of course you can, but it's our custom in the Northeast that we have to drink before the food is served!" Qu Dejun's laughter became more hearty and he raised his glass high as if in high spirits.

(End of this chapter)