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Chapter 1: The Shocking Affair in the Officialdom Chapter 1,203: Epilogue (9)

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    Chapter 1,203 Epilogue (9)

    Yan Wenjie's mind went blank for a moment, and a chill ran from his back to his heart.  Before the establishment of the China Banking Regulatory Commission, the central bank also had the power to supervise the domestic banking industry. Geng Shanxue, Huang Kebin, Huang Qiyun, and Ma Shan were all directors and shareholders of China Information Communications Bank. If the four of them suddenly chose to go to Beijing and the central bank at such an opportunity, what else could they do?  What does it mean?

    As the only two national non-public commercial banks in China, CITIC Bank was established with the first intention of establishing a breakthrough experimental field for the domestic banking system and to support the domestic non-public economy. During its establishment, it was also considered to mainly absorb  Domestic private capital.  At that time, the private economy in East Zhejiang Province was active, and Yan Kuanhe had connections and influence in the central financial and economic system. When Xintong Bank was founded, Horizon Construction and seven other private enterprises in East Zhejiang took the majority of the investment, which would eventually be determined.  The bank's headquarters is in Wenzhou.  Since the early 1990s, some far-sighted domestic private entrepreneurs have gradually realized the financing and industrial integration role that financial institutions can play in the development of large-scale group industries. Geng Shanxue, Huang Kebin, Huang Qiyun, Ma Shan and others were all domestic entrepreneurs at that time.  Famous private entrepreneurs also actively participated in the preparations for the establishment of Xintong Bank, and eventually invested in it and became shareholders of Xintong Bank.

    For these shareholders of Xintong Bank, in addition to the rapid development of Xintong Bank itself to increase the value of their initial investment, they also hope that Xintong Bank can attract a huge amount of public funds to solve their problems.  The problem of capital hunger for the development of its own industry groups.

    Resources are always limited. When the Yan family uses its largest shareholder and other shareholders in the Wenzhou area in eastern Zhejiang to control the financial resources of Xintong Bank and tilt them to the Horizon Group and Wenzhou private enterprises close to the Horizon Group, it will naturally arouse the dissatisfaction of other shareholders.  Dissatisfaction and hostility.  However, the Yan family and Hongxin have been in a strong position for many years, and they have united with other shareholders in the Wenzhou area. Other shareholders dare not speak out. In addition, the development of Xintong Bank has been relatively rapid in recent years, so the contradiction has not become acute.  .

    Geng Xueshan, Huang Qiyun, Ma Shan, Huang Kebin and others are well-known private entrepreneurs in China, and their industries are also dominant in local areas. They are by no means without connections in central ministries and commissions. They also have a considerable understanding of Kumho's background and are aware of Jiang Minzhi's desire to kill Haisu.  We also know something about the establishment of power through science and technology, and Dong Jiannian's attempt to use Haisu Technology to clear the way. In addition, the greed of the Yan family and Hongxin Department has offended quite a few people over the years. Haisu Technology was officially investigated by the Donghai Provincial Government.  When the news reached their ears early, they realized that they had an opportunity to bring down the Yan family in one fell swoop, so they immediately made an appointment to go to Beijing to file a lawsuit and fight for control of Xintong Bank.

    Yes, they just want to fight for control of Xintong Bank!

    Yan Wenjie broke into a cold sweat on his back. He didn't know if there was a huge network waiting for the Yan family to jump into it. He knew very well that once the Yan family lost control of Xintong Bank, Xintong Bank would threaten Hongxin Bank.  The accumulated loans of nearly 20 billion yuan provided by various affiliated companies will be a fatal rope around Horizon's neck. With just a slight pull, Horizon's assets are likely to fall apart.

    They are too cruel. Although there has been no direct conflict over the years, Yan Wenjie believes that their grudge against the Yan family and Hongxin will not be small. Once the control of Xintong Bank falls into their hands, what fate awaits the Yan family and Horizon  What it is, Yan Wenjie can think of it with his toes.

    Looking at his father's wrinkled face, Yan Wenjie said: "Dad, I want you to accompany me to Beijing this time. We will leave immediately. There is no plane at the airport. Let them fly a special plane. President Dong will also go with us" Yan Kuan  Both He and Dong Weiwen knew the seriousness of the situation, so they waited for Yan Wenjie to come over in the president's office.

    The phone on the desk suddenly rang. Dong Weiwen grabbed the phone. After a while, his stern face seemed to be frosted again: "When did it start? Why did you report it now?" Put down the phone and asked Yan  Kuan He and Yan Wenjie said: "There are extremely unfavorable rumors about Cintong Bank. After three o'clock, the number of people withdrawing money from Cintong Bank's branches in Wenzhou increased sharply. At first, no one noticed it, but now it seems that a run wave has formed.  possibility!"

    Bad news came one after another. Yan Wenjie¡¯s hair stood on end when he heard that there was a possibility of a run on various bank branches.  He knew that the enemies in the open and in the dark would use all kinds of means to keep the Yan family in a hurry and unable to defend themselves.

    Once a run wave occurs and CITIC Bank¡¯s funds are insufficient to cope with it, CITIC Bank may not be able to sustain it at all.  Even if we can firmly control Xintong Bank by then, what's the use?  He didn't expect his opponents to be so ruthless, and he had no intention of giving them a chance.

    Even if the squeeze is dealt with, the central bank will not sit idly by such a serious situation. There will be no need for Huang Qiwen and others to go to Beijing to complain, and the central bank will also take action.The bank conducts strict review.

    is it him?  Yan Wenjie thought of that seemingly harmless young face. Although he had regarded Kumho as his lifelong rival for all these years, he didn't even understand how Kumho rose.  Of course Yan Wenjie would not admit this, but at this time he felt a deeper sense of frustration than before, and a sense of powerlessness that meant he would be completely defeated.

    Dong Weiwen looked at the round clock hanging on the wall. It was less than half an hour before the closing time today. There should be no problem for various outlets to survive today, but the contagion of rumors is extremely terrifying. Maybe by tomorrow it will not only be Wenzhou's  There is a problem with the network.  Rather than going to Beijing to deal with Huang Qiyun and others, what is more important right now is to refute the rumors and stabilize the situation. Sufficient funds need to be borrowed from peers to cope with the possible run wave tomorrow morning. Not only Dong Weiwen cannot leave, but Yan Kuanhe and Yan Wenjie must also stay together.  Come down and work together to solve the most pressing problems at hand.

    "The Wenzhou branch is likely to be the hardest hit area tomorrow. I'm just calling the major banks to ask for support. Could Mr. Yan contact the province and city and ask them to help coordinate? The work will be relatively easy?"  Dong Weiwen said.

    The phone on the table rang again, and bad news came one after another. Dong Weiwen was a little afraid of the phone. At this time, he had no choice but to pick up the phone. Yan Kuanhe and Yan Wenjie also looked at Dong Weiwen nervously.  Dong Weiwen put down the phone after a while, and said feebly to the Yan family and his son: "This is a call from the Provincial People's Bank of China, asking about the situation of bank runs"

    Before the establishment of the China Banking Regulatory Commission and provincial banking regulatory departments, the Provincial People's Bank of China had the power to supervise the banking industry in various provinces and cities, and could even take over the operations of commercial banks in emergencies.  The news spread to the Provincial People's Bank of China so quickly, and the Provincial People's Bank of China couldn't wait to call. They were probably eager to let them hand over control of Xintong Bank now. In addition, Huang Qiyun, Huang Kebin and others were already in Beijing. The people behind this  Isn¡¯t the conspiracy clear enough?

    Yan Wenjie sat on the sofa with his head down weakly. Isn't the situation in front of him clear enough?  Not only the problems of Haisu Technology cannot be covered, but also the problems of Xintong Bank. Maybe some problems are not big problems at all, but at this time, when the wall falls and everyone pushes back, any problem will become a big problem

    The East Zhejiang Provincial Government coordinated various banks to lend nearly 10 billion in funds to Xintong Bank, and actively used the media to refute the rumors. The Provincial People's Bank of China stepped up to take credit responsibility for Xintong Bank, which enabled Xintong Bank to survive the National Day holiday in a thrilling way.  There was a week-long run in mid-month.

    Not to mention that Xintong Bank lost more than 26 billion in deposits in just one week, accounting for 18% of the deposit balance of Xintong Bank. This is only the second run on a large commercial bank in China since the founding of the People's Republic of China.  The nature is far more serious than Haisu Technology's three-limit drop, and the blow to the Yan family is more fatal than Haisu Technology.

    On the third day after the bank run, the People's Bank of East Zhejiang Province officially dispatched a supervisory team to CITIC Bank to supervise CITong Bank's daily operations. Dong Weiwen resigned as president of CITong Bank, and Yan Wenjie was also forced to resign as a director of CITIC Bank's board of directors.  This marks the complete loss of control of Horizon Bank over Xintong Bank.  At the same time, the central bank officially set up a higher-level investigation team to go to Wenzhou to investigate various problems that have existed in the operations of Xintong Bank over the years

    On December 1, Jiang Jinyuan, deputy secretary of the East Zhejiang Provincial Party Committee and governor, gave a transfer order to the central government and was transferred to the Central and Western Strategy Committee of the State Council as deputy director at the ministerial level. Zhao Yang, deputy secretary of the East Zhejiang Provincial Party Committee, also served as acting governor.  ; As the most important official umbrella of the Yan family in eastern Zhejiang, and once Yan Kuanhe¡¯s secretary, Wenzhou Municipal Party Committee Secretary Jin Liping was also removed from the post of Municipal Party Committee Secretary on December 12, and was temporarily transferred to Construction  Deputy ministerial inspectors; Yan Lihua, Yan Yi and other members of the Yan family in the local party and government systems have been transferred from leadership positions one after another, which means that the investigation of the problems behind the scenes of Xintong Bank will be thoroughly in-depth.

    No one, especially those who have stood up to attack the Yan family and the Hongxin family, is willing to give the Yan family a chance to breathe.

    As early as December 6, the procuratorates of Donghai Province and East Zhejiang Province formally decided to place Yan Wenjie, Lin Xue and others under residential surveillance

    With the deepening of the investigation into the problem, the problems exposed by CITIC Bank and Horizon Bank have become more and more serious. It is initially estimated that the Yan family used its control over CITong Bank to obtain loan balances of up to RMB 244 from its affiliated companies.  One billion yuan, of which more than 60% were illegal loans, while the total loans of Xintong Bank during the same period were even less than 100 billion yuan.

    The criminal evidence that Yan Wenjie and Lin Xue used Horizon Investment and Jingjian Real Estate to illegally borrow a huge amount of 4 billion from Xintong Bank to illegally manipulate the stock price of Haisu Technology in the primary and secondary markets to conduct multiple behind-the-scenes transactions has also been initially confirmed.  In fact, this criminal evidence is the best to confirm. The key lies in whether the relevant departments want to investigate or not.

    The main task of CITIC Bank is to collect loans from Horizon BankThe total assets of the companies under the Horizon Group are as high as 60 billion, but if they were to come up with 24 billion in cash all at once, it would undoubtedly cost them their lives.  In order to avoid the major impact of the bankruptcy of Horizon Investment on the local economy, employment and social stability, the provincial government chaired by Zhao Yang decided after coordinating with the Provincial People's Bank of China and the Central Bank's investigation team that Wenzhou Steel, which is relatively controlled by Horizon Investment, will be taken over and reorganized by the Provincial Steel Group  , Hongxin Construction was taken over and restructured by the Provincial Urban Construction Group. The nearly 18 billion loans owed by these two major companies were credit guaranteed by the Provincial Iron and Steel Group and the Provincial Urban Construction Bank respectively.

    As for other loans owed by Horizon Investment and its affiliated companies totaling 6 billion yuan, CITIC Bank will take over all assets of Horizon Investment and its affiliated companies as a creditor until the loans owed are fully clarified.

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