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Volume One: Living in Troubled Times Chapter 30: Taking the Lead

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    In 1953, the embargo became stricter because the United States sent people to Hong Kong for surveillance. However, on the other hand, the transfer of the smuggling port to Shekou, Shenzhen, added certain conveniences.  The implementation of policies that are sometimes tight and sometimes loose is always inevitable, but Meng Youtian has already withdrawn from smuggling.  Of course, he has never come forward in person, but has an inconspicuous agent to carry out the process, or through Chinese-funded institutions in Hong Kong.

    By taking a loan to buy land and then repaying it on time, Meng Youtian only lost some interest, but he established a relatively good relationship with the bank.  After all, what banks value is strength and credibility, and Meng Youtian's path to prosperity is also admirable.

    "The admiration for Meng Youtian's courage and courage cannot hide the doubts in people's hearts. Although armistice negotiations have begun, the war that seems so far away that there is no end time makes it difficult for people to express complete optimism about the economic prospects.  Of course, no one knows better than Meng Youtian that the war will end in the second half of this year.

    "The Liaohe Oil Field was discovered in the middle of 1953. When the news came, Qin Lianfang no longer bothered with the embargo and smuggling.  Regardless of whether it was due to Meng Youtian's secret communication, she also knew that many of the things Meng Youtian did were to support her and comfort her, for which she was very grateful.  And people who are self-aware will not push for more, ask for unlimited things, and therefore be disgusting.  Today, her interest in history and economics is growing, with a particular focus on the economic crisis of capitalism and the economic system of the Soviet Union.

    Immersing yourself in the ocean of books and knowledge is not wasted time. Open your eyes to see, open your ears to listen, and use thinking to distinguish right from wrong.  This may also be Meng Youtian's hope.

    Life is gradually recovering, this is what Meng Youtian feels.  Because A Xiu complains less about the price and complains less about the difficulty of buying items.  What he saw was that Hong Kong's factories were gradually resuming work, and the number of unemployed workers on the streets was gradually decreasing.  However, the impact of the Korean War on Hong Kong was far-reaching. Due to the sharp rise in unemployment, economic depression, and social unrest, left-wing labor activists have taken advantage of the situation and planted the seeds of another unrest in the future.

    The more intuitive evidence is that the profits of several factories are constantly rising, making the funds invested in real estate more abundant.  Great Wall Industrial Company.  The sign was hung in front of a newly built six-story building.  Managers from several companies moved in, and Meng Youtian finally took a step towards groupization.

    A yarn factory, a textile factory, and a clothing factory.  A toy factory.  A construction company.  All belong to the Great Wall Industrial Company, and Meng Youtian became the chairman of the group company when he was just over 30 years old.  It can be said that he is too young.

    ¡°But this young chairman has shown maturity and sophistication that is not commensurate with his age, as well as vision and courage that surpass ordinary people.  Just after the Korean War, all the properties built by Great Wall Industrial began to be sold, and the techniques and techniques were refreshing.

    At that time, real estate developers in Hong Kong, such as the Lee Hysan family, Ho Tung, Kwong Sang Hong, Luk Hai Tong, etc., generally focused on building buildings and collecting rents.  Usually the construction period is one to two years, and if you rent it to others, it will take at least seven to ten years to recover the cost.  Those small real estate developers operate on a small scale and usually build two- to four-story houses for sale.  In short, this kind of business method can neither speed up the turnover of funds, nor make a lot of money, nor can it solve the housing shortage problem in Hong Kong.

    Stratified sales are a way to increase the number of people patronizing the building.  But the customers are still limited to some wealthy families.  The buildings built by Great Wall Industrial are about 1,000 feet per floor and cost more than 20 yuan per foot. The total price is more than 20,000 Hong Kong dollars.  But at that time, the monthly salary of ordinary wage earners was about 200 yuan. After all, not many people could spend more than 20,000 yuan at once.

    Since it can be sold in layers, it is not a problem to sell it in households.  Meng Youtian knows that in order to make the real estate market prosperous, it is necessary to increase the customer base. That is, more people must buy properties, so that the real estate market can prosper.  Therefore, when building buildings, he instructed the construction company that some buildings should be independent on one floor, and some buildings should have two or three households on the first floor, so that more people can own their own properties.

    In order to promote sales, Meng Youtian also compiled and printed a property brochure, which contained detailed property conditions, prices, delivery dates and other data.  Because different buildings have different heights, structures, areas and materials, having such a manual can help buyers understand the conditions of the building more clearly.

    As for selling "off-the-plan properties", which means collecting money in advance for construction of a building and paying it in installments, Meng Youtian did not launch it immediately.  If sales are promising, he plans to implement it later.  Firstly, his funds are not tight, and there is no need to pay a deposit to build the building; secondly, he does not want to remind others of this financing method too early, which will suddenly increase the number of competitors for buying land.

    After the building opened for sale, the sales situation was pretty good. It can¡¯t be said that there was a huge crowd, but there was still a steady stream of people.  After all, Meng Youtian took care of both wealthy families and the middle-income class.

    In the first building?After completion, the construction company had already started the construction of the second building; and the return of funds from the sale of the property allowed the construction company to expand its scale, and later started the construction of the third building.

    It was better to buy than to rent. This was the situation in the Hong Kong real estate market at that time.  When renting a house, you have to pay a top-end fee, which is usually called "7,000 top-lots, monthly rent of 200 yuan." That is, the top-lot fee is generally 7,000 yuan, and you have to pay more than 200 yuan in rent every month.  However, the price of a one-story building with the same area is generally between 14,000 and 20,000 yuan.  In other words, a tenant who can afford the top-up fee can buy a building of his own on the first floor by paying about the same as the top-up fee.  To buy a unit, you only need to pay the top fee.  Comparing the two, buying a property is naturally much more cost-effective than renting.

    With the end of the Korean War, Hong Kong seems to be a stable place again.  However, the situation in Asia, especially in Southeast Asia, is becoming increasingly turbulent.  A group of overseas Chinese moved to Hong Kong and became the bulk of the first batch of home buyers.  Firstly, they buy a house to live in peace and pass it on to their children and grandchildren in the future. Secondly, collecting rent can be regarded as a relatively stable income.

    Meng Youtian¡¯s first move into real estate was successful. He had land reserves and bank support, and he also adapted to the policies of the Hong Kong government at that time.

    In order to alleviate the housing shortage of citizens, the Hong Kong government at that time encouraged real estate developers to build buildings. For this purpose, a lot of official land was auctioned for bidding by real estate developers.  Great Wall Industrial has become an active player in land auctions, often bidding alone and aggressively increasing its land reserves.  (To be continued, please search Piaotian Literature. The novels will be better and updated faster!
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