Chapter 167: The Foundation (Part 3)

Zhou Qiang of the Huofu Coal Mine was an exceptionally shrewd man. In recent days, he had stood by Qin Feiyue, offering only superficial courtesy to Zhao Yongsheng. Now, however, he had become a favored guest in Zhao Yongsheng’s circle.

Zhao Yongsheng held absolute authority in Qinglin Town. Typically, such figures reserved their comments for the final moment, as their words carried the weight of a final decision. After Su Ming, Tang Shugang, and others had expressed their opinions, Zhao spoke slowly.

“The Huofu Coal Mine is the largest enterprise under the township government. Over the past few years, it has contributed significantly to tax revenue and provided employment for hundreds of surplus rural laborers. Its merits cannot be ignored.”

Hou Weidong thought to himself, “I don’t know about the past, but today’s taxes and management fees were paid using loans. It’s like using government bones to boil government oil. Once they turn things around, they suddenly become heroes.”

Zhao Yongsheng continued in an unquestionable tone, “‘Grasping the large and letting go of the small’ is merely a broad policy; it is not targeted at specific enterprises. The Huofu Coal Mine is a key enterprise in our town. The Party committee and the township government have a responsibility to help the enterprise weather this difficulty. I have a compromise in mind. One million is too much. Let the Huofu Coal Mine take a loan of 500,000 yuan. This matter will be handled by the Qinglin Town Foundation, and the specific arrangements will be left to Mayor Su.”

To secure his position, he added, “Mayor Su, you must strictly follow the procedures. The government is only coordinating; we are not providing any guarantee.”

Su Ming’s expression shifted subtly several times. He thought, “Zhao Yongsheng is truly an old slick operator. He wants to grab power but refuses to take responsibility. Does he think I’m a fool?” Though he felt angry, he ultimately held back and said, “Mayor Tang, have Zhou Qiang submit a new application. Both the Enterprise Office and you must sign your opinions. Once signed, send it to me. Finally, we must ask Secretary Zhao for his final decision.”

Zhao Yongsheng replied, “This is a government matter. I will not interfere.”

Hou Weidong sighed inwardly. “Zhao Yongsheng and Qin Feiyue became mortal enemies years ago precisely because of township enterprises. It seems Zhao Yongsheng and Su Ming are destined to walk the same old path.” Having learned the secret of the “abolition of foundations” from Li Jing, and seeing Zhao Yongsheng eyeing the foundation again, Hou Weidong felt a sense of psychological superiority. However, for the sake of stability and unity, he kept this secret to himself.

After the meeting dispersed, Hou Weidong returned to his office. He played with the fountain pen in his hand, reviewing the events of the recent period: funeral reform, the Jinggong Group, the new nursing home, the death of Qin Dajiang, Heiwa’s severed hand, the Lingxi Expressway, and the latest issue regarding the foundation. None of these matters were easy. He held his head and thought, “Damn it, why are there so many things? Are they trying to kill me?”

He rested his head on his desk for a while. Then, his thoughts returned to the foundation. He suddenly remembered that his second sister, Hou Xiaoying, also had loans from the foundation. He slapped his forehead and said, “How could I forget to call my second sister?” Although Li Jing had repeatedly instructed Hou Weidong to keep this matter confidential, knowing such news and not warning his sister would be too unkind. After a brief internal struggle, he made the call.

“Little San, what’s up? You rarely call your old sister.” Hou Xiaoying’s silk factory business with He Yong had shown signs of improvement, so her mood was naturally excellent. When Hou Weidong asked about the foundation, she said, “I originally intended to take a loan from the Qinglin Town Foundation. Later, that fat director finally succumbed to sweet talk, and getting the loan was as easy as turning over my hand. The international silk market has been favorable for the past two years. At most, within a year, my sister will have paid off the loan.”

In the mid-1990s, borrowing money without intending to repay was extremely common. The story of Huang Shiren and Yang Bailao received a new interpretation in this new era. Who said Yang Bailao suffered? Huang Shiren suffered even more. Hou Xiaoying was the modern Yang Bailao, while the foundations and banks were the modern Huang Shirens. She and He Yong had taken loans totaling over three million yuan from several foundations in Wu Hai County, yet they had never seriously considered repayment.

Hou Weidong had promised Li Jing to keep the abolition of foundations a secret. However, if he did not warn his sister, his conscience would not allow it. He chose his words carefully and said, “I heard from a friend that there is a risk of foundations being abolished. Second Sister, you have taken quite a few loans from the foundation. You should prepare early.”

Hou Xiaoying laughed. “These people really fear nothing but chaos. Yesterday, that fat director came to tell me the same thing. If the foundation collapses, so much the better. Then I won’t have to repay the money.”

Hou Weidong had originally thought this secret was exclusive to him. Hearing that his sister already knew, he felt somewhat disappointed but also relieved. After all, he had promised Li Jing not to leak the secret. Since his sister already knew, he had not broken his word.

He advised, “There is no such thing as a free lunch in this world. If the foundation collapses, the government remains. You cannot simply default on this money. It is better to make plans early. Otherwise, when the banks tighten credit and force repayment, you will cry without remedy.”

Hou Xiaoying adopted a tone of complete indifference, like a dead pig that does not fear boiling water. “Little San, have you gone silly staying in the township? Who repays loans voluntarily nowadays? The foundation situation is such a mess that no one dares to move rashly. Any rash move will definitely cause major trouble.”

“Second Sister, I guess the fat director has taken a lot of bribes. Let me tell you, he cannot protect you. When the building collapses, how can the eggs remain intact? The most feared thing in the world is seriousness. If the Communist Party gets serious, is there any problem they cannot solve?”

“All my procedures are legal. When the cart reaches the mountain, there will be a road. There will naturally be a way out when the time comes.”

They chatted for a few more sentences. Hou Xiaoying maintained an attitude of indifference, treating Hou Weidong’s advice as wind in her ears. Hou Weidong could only hang up the phone with a sense of frustration.

After finishing the call with his sister, Hou Weidong looked at Li Jing with new respect. Although Li Jing did not have a high academic degree, she handled matters with precision and order. In dealing with the foundation issue, she displayed a demeanor befitting a person of great stature.

“The Jinggong Group must definitely grow bigger and stronger. My investment direction is correct.”

He sat in his office for a while longer. During this time, Fu Jiang, the director of the Comprehensive Management Office, visited him. Fu Jiang discussed some trivial disputes in the villages. As the director of the Comprehensive Management Office and a judicial assistant, Fu Jiang was responsible for these tangled matters according to the principle of “major issues do not leave the town, minor issues do not leave the village.” Hou Weidong listened patiently to Fu Jiang’s complaints, then found an opportunity to interrupt.

“I have something to do later and need to go out. You go to Xingping Village to check the progress of the bridge. If it is slow, I can urge the construction party.”

Fu Jiang swallowed his belly full of complaints. The trip from Xingping Village to the town took several dozen minutes, and he did not want to make the trip. He said, “I will go down and make a phone call to contact Yan Daoli.”

After Fu Jiang left, Hou Weidong’s thoughts returned to the foundation. He thought, “Since my second sister also knows about the foundation, this secret must have already grown wings. I wonder how many people know. Do Zhao Yongsheng and Su Ming know?”

He further thought, “Li Jing asked me to keep it secret, but how can such a secret be kept? I might as well withdraw the money tomorrow.” He had deposited several thousand yuan in the foundation, primarily attracted by the high interest. Precisely because the foundation’s interest rates were much higher than those of banks, he did not trust the foundation. His main funds were all placed in the commercial bank in Yiyang County.

After work in the afternoon, Hou Weidong drove his brand-new pickup truck to work. As he went upstairs, he encountered Professor Guo and his wife. After greeting them, he prepared to enter the room.

Professor Guo’s wife rarely spoke, but today she took the initiative. “Little Hou, there is something I want to verify with you. I heard that the foundations are going to be abolished. Is this true?” Hou Weidong weighed his words carefully. “Section Chief Guo is in the Organization Department. Her information must be very accurate. What does she say?”

“My daughter Lanzi does not believe this. She said that the County Party Committee and County Government just issued a document on strengthening the management of foundations. These people are spreading rumors. However, I have heard many people talking about this, and I feel uneasy.”

Hou Weidong smiled. “The money is yours. If you feel uneasy, you can withdraw it tomorrow.”

Professor Guo’s wife said, “I deposited it as a fixed-term deposit. Withdrawing it now will result in a loss of much interest.” Professor Guo did not manage household expenses at home. Seeing his wife nagging at the door, he said, “Old woman, the foundation was approved by the State Council. How could it collapse? Do not listen to those rumors. You should listen more to Lanzi.”

After entering the room, Hou Weidong brewed a cup of Tieguanyin tea given by Old Xing. He stood on the balcony, listening attentively to the faint piano music drifting in the wind. Usually, at this time, Guo Lan had already started playing. Today, however, there was no sound. After waiting for a while, there was still no noise, so Hou Weidong went back inside.

The next day, holding the foundation’s receipt, Hou Weidong drove out. As he left Shazhou College, he saw long queues forming outside every foundation. It looked like people were there to withdraw money.

“Bank run.” The term popped into Hou Weidong’s head. Most of his money was in the bank, so he was not panicked. However, seeing the anxious faces of many elderly people, he cursed, “Damn foundations, who knows what their financial situation is like?”

When he arrived in Qinglin Town, the Qinglin Foundation outlet also had a long queue. Everyone was cursing. Hou Weidong called Bai Chuncheng. Bai Chuncheng said, “The money in the foundation was withdrawn yesterday. There is none left today.”