Chapter 309: The Path (Part 1)

At ten o’clock in the morning, Hou Weidong called the office. “Don’t let everyone dawdle around in their desks. This is a crucial broadcast. All cadres of the New Management Committee must watch it.”

In the conference room on the top floor of the office building, about twenty people were already seated. Zhang Xiangyu sat in the front row, holding the remote control and flipping through several channels. It was only when Hou Weidong, Zhang Jin, and others arrived at the rooftop that he finally switched the channel to CCTV-1.

By ten-ten, Premier Zhu Rongji had still not appeared on the screen.

Today marked the occasion where Zhu Rongji, leading the new government members, would meet with the press collectively. Hou Weidong had insisted that all administrative cadres present at home tune in on time. A press conference held by the Premier was the best opportunity for them to directly understand the nation’s major policies.

Seeing that most of the cadres had arrived, Hou Weidong stepped onto the small platform and gently tapped the microphone. “Before the press conference begins, I’d like to say a few words.”

The room fell silent.

“The New Management Committee is on the front line of reform in Yiyang County. In a sense, it is also on the front line of reform in Shazhou. Both the city and the county have high hopes for us. Since we are on the front line of reform, we must maintain sensitivity to major domestic and international events. Only then can we continuously promote the development of the New Management Committee. To put it simply, our cadres must not only know how to pull the cart with their heads down, but also learn to look up and see the road ahead.”

Having worked in the New Management Committee for over a year, Hou Weidong had always felt that the cadres’ horizons were generally too narrow. At the beginning of the year, the committee had submitted an application to the Organization Department, hoping to send a batch of cadres to work in developed coastal cities. This would not only broaden their见识 (knowledge and experience) but also serve as an opportunity to attract investment.

The report had been submitted to the organization department, but it still needed to be studied and decided upon by the Standing Committee of the County Party Committee.

Although there was no reply yet, Hou Weidong had not been idle. He had dispatched six key personnel to Xiuyun Pharmaceutical Factory and Lingxi Group for a three-month temporary assignment. The goal was to improve the cadres’ ability to adapt to the market economy.

“I hope everyone opens their eyes to the world because the changes in this world are directly linked to the New Management Committee. On January 2nd this year, the Indonesian rupiah plummeted. Compared to the exchange rate in early July last year, it has depreciated by seventy percent. At the same time, the stock market has dropped by twenty percent. These events will undoubtedly have a significant impact on domestic economic policy, which in turn relates to the rise and fall of our New Management Committee.”

Thanks to frequent practice, Hou Weidong’s speaking skills had improved dramatically. He spoke for about ten minutes before summarizing: “Since the establishment of the New Management Committee, we should no longer view ourselves as cadres from an inland city. We must have the courage to update our concepts and boldly pioneer, just like the cities of Guangdong and Shenzhen. This is an urgent matter.”

Since taking charge of the New Management Committee, Hou Weidong had been strict in work requirements. On the other hand, the various benefits for the committee staff had increased significantly. They had purchased a shuttle bus, issued work uniforms worth over a thousand yuan, and provided a monthly bonus of two hundred yuan. The unit’s collective housing project had also begun construction. Such generous treatment was the best among all government agencies in Yiyang County and was not inferior to that of employees in tobacco, power, or banking sectors.

Just as he finished speaking, applause erupted from the television. Premier Zhu Rongji, leading the new government members, walked into the press conference venue.

Hou Weidong quickly stepped down from the platform and sat down with Zhang Jin and Zhang Xiangyu.

On the screen, as soon as the host’s voice fell, the journalists’ arms shot up in a rush. The Southeast Asian economy was facing major problems, and Japan did not seem able to play the role of savior. Therefore, the “Iron Chancellor” Zhu Rongji’s stance had become the focus of global attention.

Over the past year, Zhang Xiangyu had been dealing mostly with entrepreneurs, gaining a direct understanding of the market economy. He asked Hou Weidong, “Director Hou, do you think the new government will allow the RMB to depreciate?”

“I don’t think so,” Hou Weidong replied.

As they were chatting, Zhu Rongji suddenly pointed to a young woman on the TV screen. “Please take care of Miss Wu Xiaoli from Phoenix Television in Hong Kong. I really enjoy the programs she hosts.”

A beautiful and dignified female reporter stood up and asked, “The outside world calls you the ‘Economic Tsar.’ Do you like this title?”

Zhu Rongji answered, “I do not like this title.” Then, with earnest gravity, he delivered a speech: “The First Session of the Ninth National People’s Congress has entrusted me with heavy responsibilities. I feel the task is arduous and fear letting down the people’s expectations. However, whether ahead of me lies a minefield or an abyss, I will press forward without hesitation, devote myself completely, and serve until my dying day.”

This monologue fully displayed Zhu Rongji’s unique personal charm. The people in the New Management Committee were accustomed to standard official language.

After hearing these words, the audience in the New Management Committee first fell silent, then erupted into warm, spontaneous applause. Hou Weidong clapped vigorously as well. He said to Zhang Jin and Zhang Xiangyu, “With Premier Zhu’s statement, it seems the future of the New Management Committee is bright.”

Finally, Zhu Rongji promised to accomplish three things within four years: first, to ensure the RMB does not depreciate; second, to stimulate the economy and boost domestic demand; and third, to help state-owned enterprises out of their困境 (difficulties) within three years.

After watching the broadcast, Hou Weidong kept reflecting on Premier Zhu’s speech, feeling an inexplicable excitement. As he walked into his office, Li Jing’s phone call came in.

“Weidong, did you watch the press conference? Based on Premier Zhu Rongji’s stance, increasing fixed asset investment is coming. Spring is arriving for Jinggong Group. I plan to go to the bank for a loan to add some large-scale equipment.”

Hou Weidong said, “The financial system is currently under strict scrutiny. No bank is willing to lend money.”

“That was the past. Premier Zhu wants to expand domestic demand, so the monetary policy should be loosened. Otherwise, how can domestic demand be expanded? I estimate new policies will come out soon. I plan to hold a board meeting next week. You must find time to come, despite your busy schedule.” The first few sentences carried the tone of a strong businesswoman, but the last one softened, carrying a hint of warmth.

Hou Weidong smiled. “Alright. I’ll go home tonight, have my mother sign a power of attorney for me, and then come over to attend the meeting legally. Otherwise, since I am not a director of Jinggong Group, what right do I have to attend?”

“You’re being too cautious,” Li Jing said. “Your investment is completely legal. There’s no need to be so careful. Moreover, in Jinggong Group, only a few people know your identity. They will absolutely not betray you.”

Hou Weidong had been thinking a lot lately. He didn’t explain further, only saying, “Better safe than sorry. Being cautious is always good.”

In the afternoon, he attended a meeting at the county government, which ended at five o’clock. Afterward, Hou Weidong drove his Bluebird directly to Shazhou. At this time, Liu Guangfen was acting as a firefighter at her eldest son’s house, putting out the “fire” there.

His sister-in-law, Jiang Meng, had graduated from high school and been admitted to Shazhou Teachers College. After graduating, she was assigned back to her school. Her life revolved around the school gates, with little contact with society. She was a pure girl with high aspirations.

After being transferred to Shazhou, she followed her colleagues into stock trading. After the Southeast Asian financial crisis, the already sluggish mainland stock market became even weaker, like a man after ejaculation—limp and lifeless. It hit new lows wave after wave. Jiang Meng’s stocks were cut down to the ankles. Of the hundred thousand yuan in funds, almost nothing remained. Most of this money belonged to Hou Weidong.

Trapped at the peak, Jiang Meng gave up on the stock market from the bottom of her heart. Encouraged by colleagues, she turned to pyramid selling. She became particularly devoted to this line of work. Finally, as the winter vacation of 1998 approached, she secretly submitted her resignation to the school.

After the New Year, Hou Weiguo noticed Jiang Meng was not teaching at school and learned she had resigned. Hou Weiguo was nearly furious. The two argued fiercely for several days, neither yielding, until it reached the point of divorce. Liu Guangfen went over to act as the mediator.

Upon entering Shazhou, Hou Weidong first called his eldest brother. They agreed to meet at a teahouse outside the Public Security Bureau.

Seeing his brother’s gloomy face, Hou Weidong smiled. “Big Brother, don’t look so downcast. Sister-in-law just resigned. It’s not a big deal. Why make it as serious as divorce?”

Hou Weiguo had tried every trick on Jiang Meng to no avail. He was somewhat discouraged and annoyed. “The state has explicitly banned pyramid selling. This stuff has harmed many people. Jiang Meng really has something wrong with her head. She has believed this deceptive nonsense to the bone. No matter how you talk to her, she won’t listen.” He added, “She listens to you. Please go persuade her today and see if it works.”

Hou Weidong advised, “Big Brother, it’s not a big deal. Wait until sister-in-law hits a wall. I’ll find her a job. The待遇 (treatment/pay) will definitely be better than being a teacher. Or you could buy a piece of land and build a house; that would make money. There’s really no need to divorce just because of resignation. We live in a diversified society now.”

When Hou Weidong saw Jiang Meng, she was sitting stubbornly opposite Liu Guangfen. Although she didn’t talk back, her expression showed defiance and disdain.

Liu Guangfen looked up at her youngest son. A bitter smile appeared on her chubby face, and she shook her head slightly.

Hou Weidong sat next to Jiang Meng, chatted casually for a bit, and then asked, “Sister-in-law, you’ve been doing pyramid selling for over a year. How much money have you actually made?”

Jiang Meng had borrowed nearly a hundred thousand yuan from Hou Weidong, so she treated her brother-in-law well. However, when it came to the “Qinghe” business, her attitude was firm. “Doing Qinghe is not just about making money; it’s a positive lifestyle. Qinghe people are always at the forefront of the times.”

Hou Weidong asked curiously, “What is Qinghe?”

Jiang Meng said disdainfully, “You don’t even know what I do, and yet you oppose it? The Qinghe business has a fifty-year history abroad and has been in Lingxi for three years, creating countless miracles.”

“It’s also pyramid selling.”

“It’s direct sales.”

Jiang Meng spoke eloquently, leaving Hou Weidong momentarily at a loss for words. He thought for a moment and said, “Sister-in-law, I support your decision to resign and do business. I have a friend who opened a building materials store in Lingxi. It’s selling very well. Are you interested in this business? I can introduce you. You should be able to make money.”

Jiang Meng said, “That’s a traditional industry. Qinghe’s marketing model and profit model are the most advanced in the world, far superior to traditional industries.”

Liu Guangfen stood at the kitchen door, her back to Jiang Meng, shaking her head like a rattle drum.