.March early spring is the season for everything to grow, but for Nasdaq, it feels a bit cold. In the past few days, the stock market fell sharply. After 5,000 points, 4,500 points were in danger. The culprit was the Internet stocks. After investing a lot of money, they found that Internet stocks did not have the ability to make money, so the emperor's new clothes were instantly shattered.

As the most influential emerging exchange in the United States, the impact of the fall of Nasdaq is wide and far-reaching, which is reflected in China as a difficult production of the GEM sector. The small and medium-sized enterprise GEM sector has already put the agenda on the agenda, but the collapse of Nasdaq has put this idea on hold indefinitely.

"Bad, it's just to protect the interests of listed companies." Zhang Yanxin knew very well that if the GEM sector succeeded, then the listed companies would be worthless. You should know that no matter how much you lose, as long as you have this brand, it would be worth hundreds of millions. The reason why the price is so high is that there is no other choice, so the GEM sector cannot be launched, and the financing path of small and medium-sized enterprises will be ruthlessly closed.

"Or, set up a venture capital investment similar to Morgan Stanley International?" Zhang Yan discussed this idea with several directors of Zhengrong Group, but it was opposed by most people. After entering the new century, China's economy began to turn toward an outward-oriented development. The economic situation was very good. GD development was double digits every year. Zhengrong Group's headquarters made money and earned a sea of ​​gold and silver. I just regretted that there was not enough liquidity. At this time, venture capital was just about taking money and not using it as a money?

Zhang Yan did not expect this kind of opposition, but thought about it on the other hand, Zhang Yan could understand this consideration. After all, if he had not understood what happened in 10 years, he would have thought that venture capital was of no use. It was just that Zhang Yan knew the current economic situation very well. Although it was said that two sets of internal and external cars to drive the economy, domestic demand became increasingly weak in the years to come, while external demand became the main driving force for China's economy.

Zhang Yan did not want to see this situation again. In his own understanding, it is impossible for a person to make all the money, because it is meaningless and impossible. The 1929 Earth-large economic crisis also illustrates all this. At that time, the production efficiency was high, and the stock market and finance were so healthy that everyone had stacks of banknotes in their pockets. How could there be overconsumption?

However, when the Great Depression came, those economists were silent. When a society relied too much on the external economy, they could not get rid of the impact of the external economy on themselves. If a country did not have a good development mechanism for small and medium-sized enterprises, it would become increasingly sad in the end. This was proven in the crisis in 2008. It had only two trillion foreign debts but could not get corresponding benefits. Huge foreign debts became the owner of a certain country. Although Zhang Yan did not know what would happen in the end, according to Zhang Yan's judgment, the result would not be very good. What kind of country is a country? If you don't do things that harm others and benefit yourself, you will really underestimate the courage of a certain country.

Although it received unanimous opposition, Zhang Yan knew the significance of venture capital to Chinese small and medium-sized enterprises. Since he could not use Zhengrong Group's land money, he would pay for it. With a total of ten years of land wages and dividends, Zhang Yan's wallet is still tens of millions of land, so it is no problem to run a small venture capital.

On March 31, 2000, a venture capital fund was established in the Software Park of Yinzhou Development Zone. As the first large venture capital company in China with a total capital of more than 100 million yuan, it immediately attracted the attention of the industry. In China, which lacks funds, this venture capital has become the hope of small and medium-sized enterprises to jump into the gate for a long time.

Zhang Yan is not a saint and will not spend his money to help the world in vain. However, if he can solve other people's problems while making money, this kind of thing is something that Zhang Yan cannot refuse. The significance of venture capital is not to support many companies, but to make those small and medium-sized enterprises have a hope, making entrepreneurship rather than employment a trend. When this trend emerges, it means that China has broken free from the constraints of the planned economy and becomes a real market economy.

As for the problem of the mainland without a GEM, it doesn’t matter in Zhang Yan’s opinion. The mainland does not. Isn’t Hong Kong known as the world’s most free economy? It’s better to build a Hong Kong company. Zhang Yan was very stingy and remembered that the Financial Secretary of the Hong Kong Government seemed to still owe him a favor. I heard that the director was promoted recently, and this promise seemed to be fulfilled.

Zhang Yan is still very convinced about the Hong Kong system and pays more attention to integrity than in China. Of course, if China only has such a large place in Hong Kong and only has such a small population, but has endless markets and income, it is not difficult to make it like Hong Kong. Things that are universally applicable usually do not exist.

Zhang Yan's request was allowed, but as one of the conditions, the Hong Kong government asked Zhang Yan to delay the lifting of the stocks of the four major manufacturers for one year. This request seemed a bit incredible to Zhang Yan. It was simply cheap and could not be cheaper. With excitement, Zhang Yan immediately signed the agreement and asked when the GEM would start. However, the Hong Kong government's answer made Zhang Yan's nose skewed.

"Yeah, it's already opened last year, it's been more than half a year?"

It turned out that Hong Kong's GEM was founded in 199, with the purpose of providing a channel for fundraising for companies that do not meet the main board of the Hong Kong Stock Exchange. However, it was established at the beginning of the Nasdaq in the United States, and Hong Kong did this just to follow the trend.

Especially at that time, it was in the period of the technology network bubble. Many technology network companies that had just established unprofitable money wanted to raise funds through the GEM. However, with the bursting of the technology network bubble, Hong Kong and global stock markets entered a big bear market, and the number of companies delisted on the GEM increased significantly.

Compared with Zhang Yan, the Hong Kong government needs powerful tycoons like Zhang Yan to intervene and support the GEM sector. Because investors need strong confidence in GEM stocks with short establishment time, small capital scale, and unknown profitability in the future, and Zhang Yan's intervention is a huge boost for those who are waiting and watching.

It’s a bad business to kill people. Zhang Yan beats his chest and stamps his feet. Although it’s not a big loss for Zhang Yan. However, as a capitalist, turning a transaction that was originally intended to make money into a transaction that would give others money is not an exaggeration to describe the feeling of frustration.

"You are ruthless, and you will know how powerful I am at that time." Zhang Yan, who suffered a secret loss, could only hide this regret in his heart, but he really couldn't feel at ease when he saw the startup stocks in Hong Kong. The subsequent performance was as Zhang Yan expected. Due to the lack of good news in the market, external factors continued to be unstable, and the ChiNext Index was getting lower and lower.

Although the types of listed companies tend to diversify during the period, the number of high-quality companies from the mainland is also increasing. The technology stocks of mainland universities represented by Beidaqing Bird and Shanghai Fudan, which were listed in the following six months; and biochemical pharmaceutical stocks represented by Tongrentang and China Biopharmaceuticals, but because these companies are not big, even if the profitability is good, it is difficult to improve the market trend.

This situation did not improve until 2001. A large number of mainland startups successfully listed on the Hong Kong GEM, and a variety of companies activated the GEM sector. The listed Focus Media also hit ten daily limits in a row, which finally restored the GEM sector to its highest point in 200 years.

In the following years, Hong Kong's GEM became a paradise for mainland small and medium-sized enterprises, and the crazy listing of mainland small and medium-sized enterprises promoted the development of venture capital funds. A brand new economic system began to cycle and improve itself under the design of Zhang Yan. Although this economic system is still very weak, it is full of vitality.

These are all later stories. On March 31, 2000, someone's idea was like this: "Don't lose money, you must make a big profit. This is all my private money. If you lose money, I don't know when I can save so much money. Please come and ask..." If those investors see Zhang Yan's appearance, their investment confidence will collapse and they will withdraw their investment quickly...

As April begins, although the north wind in Qiufeng County is still bitter, it lacks the biting cold and thrilling force, it becomes gentle, and the ground that is originally as hard as iron becomes soft. The plan for the year is spring, and the developer Lu Qiuyue also knows this, so she came to Qiufeng County early to discuss the demolition with Zhang Yan.

Originally, Lu Qiuyue didn't need to come here in person. He had made a plan for this matter, just sending a vice president. The reason why Lu Qiuyue came to find Zhang Yan alone was more intentional on Zhang Yan. This handsome and elegant county party secretary was different from other officials and had a sense of mystery. His performance at Qiuyue Villa last time also made Lu Qiuyue look at Zhang Yan with admiration.
Chapter completed!