industrial overlord

Chapter 707
"mortgage?"

Portuguese Finance Minister da Cruz stared wide-eyed at the Chinese people sitting in front of him.These people are the delegation that came to discuss financial rescue matters with the Portuguese government, including officials from China's finance, central bank, development and reform commission and other departments, as well as heads of several large enterprises.

"Yes, mortgage." Huang Gang from the National Development and Reform Commission said with a smile, "Mr. da Cruz, with all due respect, the current sovereign credit of Portugal is not enough to guarantee the safety of tens of billions of euros in rescue funds. We need you to take Show more...sincerity."

Dacruz said: "Gentlemen, you need to know that this is Europe, not South America. How can you not believe in the sovereign credit of a European country?"

Huang Gang shrugged slightly, and did not answer Da Cruz's words, but at this time, silence is the best answer: Yes, we just don't believe it, what should we do?
A female secretary named Lu Yajuan from the Ministry of Finance said: "Mr. da Cruz, although our Chinese government is also very tight in funds, we are still willing to provide some funds to help out of the consideration of Sino-Portuguese friendship. Portugal has overcome the immediate difficulties. However, as far as we know, all European countries are currently facing the threat of financial crisis, and several major international credit rating agencies have made a negative outlook on the credit outlook of the whole of Europe. In this case , we have doubts about the safety of the funds we have taken out, is it understandable?"

"Uh..." Dacruz had nothing to say. In fact, he didn't know that Portugal's financial difficulties are a deadlock, unless the government carries out drastic reforms, reducing fiscal expenditures, reducing social benefits, and stimulating the economy. Growth, otherwise, the financial situation cannot be solved.Borrowing money from China now is only a temporary emergency for Portugal. The whole government has no idea what to do next and when the money will be repaid. It is no wonder that the Chinese feel uneasy.

Western countries have a little institutional advantage, that is, their governments are so-called democratically elected governments, and if they fail in one term, they can just step down and leave the mess to their successors.After the successor comes up, he can also excuse that the money owed was borrowed by the predecessor, not his own fault, so that the matter can be delayed.

Dacruz also had the same idea. He wanted to borrow the money first, and when it was time to pay back the money, he had already stepped down. How did the people behind him pay back the money? What did he have to do with it?

However, the Chinese are not stupid. They saw this problem and insisted that there must be a mortgage, otherwise they would not be able to lend money to Portugal. This made Dacruz hold back.

"How do you operate the mortgage you are talking about?" Da Cruz asked after a long silence.

Lu Yajuan said: "Our idea is that in view of the current situation, we are going to convert government-to-government loans into the form of direct investment by enterprises. We will select some large enterprises in China to form an investment consortium. The Chinese Ministry of Finance will use the preparations for The funds for bailing out Portugal were distributed to this investment consortium in the form of loans, and then the investment consortium acquired the shares of Portuguese domestic enterprises, especially Portuguese state-owned enterprises.

In this way, the Portuguese government can get the financial relief funds, and the equity of these enterprises becomes the collateral of these relief funds.In the future, when the financial situation of the Portuguese government improves, it can repurchase these shares from Chinese companies. In this way, our financial security can be guaranteed. "

As soon as this remark came out, the faces of all the Portuguese officials participating in the negotiations changed.The Chinese side's move is ruthless enough. It is clearly stated that it is borrowing money. If it is changed in this way, it will become the Portuguese side selling assets to realize cash.Who knows when Portugal's finances will improve. If it doesn't improve in ten or 20 years, wouldn't these enterprises become the Chinese people's pockets?
Since the Chinese want to acquire the shares of companies, they will naturally choose those companies with better profitability. In this way, the profits of these companies will flow into the pockets of the Chinese people, which is much higher than the interest on national debt. up.One advantage of national debt is that the debt burden can be reduced through currency depreciation, but this is ineffective for investors who own equity, because once the currency depreciates and domestic prices rise, the price of equity will rise accordingly.

"This is impossible!" Dacruz also wanted to understand this, and he said decisively, "Our state-owned enterprises are all engaged in industries that are related to the national economy and the people's livelihood, how can these industries be handed over to foreign consortiums to operate? "

"Actually, there is nothing difficult about this matter." Huang Gang said, "Mr. Dacruz, the companies we choose are all well-known and large companies in the world. For example, Mr. Lin Zhenhua next to me, he represents The leading enterprise is China Hanhua Heavy Industry Group, which is currently ranked among the top 10 large enterprises in the global heavy equipment manufacturing enterprises. Such enterprises will not behave recklessly.

Besides, if we invite these companies to purchase the shares of your state-owned enterprises, we can also introduce a more effective management system and a wider business cooperation relationship for your state-owned enterprises, which will be of great benefit to help your enterprises increase their income.In the future, when the Portuguese government's finances can turn around, and then buy back these shares, wouldn't everyone be happy? "

"But..." Dacruz couldn't find a reason. Think about it carefully, the Chinese are not living Lei Feng, why do they lend you money for no reason, and they have to bear the risk of borrowing money?Judging from the meaning of these Chinese officials, if I rejected their request, I guess they would just get up and leave in a huff. Now it is the Portuguese who want to borrow money, and the Chinese can buy it for a price.

"I have no right to decide this matter. However, I still want to hear your thoughts. Which of our industries are you more interested in?" Da Cruz said.

"In this regard, I think it's better to listen to the opinions of our entrepreneurs." Huang Gang gestured to several business leaders who accompanied the negotiation, indicating that they would negotiate terms with Da Cruz.

Several business leaders looked at each other and laughed.Gu Jiahua, the president of Xingbei Heavy Machinery, pointed at Lin Zhenhua and said, "Zhenhua, among us, you are the youngest, let's talk about it."

"What's the point?" Lin Zhenhua laughed, "You old comrades are more experienced, so you should be the ones who are right."

Gu Jiahua said: "We are all people who will retire after finishing this term. You are the only one who will cooperate with the Portuguese side for a long time in the future. Therefore, the specific conditions should be determined by you."

Lin Zhenhua laughed and agreed. In fact, when everyone discussed the negotiation strategy earlier, he came up with many ideas. Everyone had already agreed that he would make the statement at that time. His previous concession was just a humble gesture. That's all.He pressed the switch of the microphone in front of him and said:

"Gentlemen, I am Lin Zhenhua, chairman of China Hanhua Heavy Industry Group Corporation. Entrusted by our special investment consortium member companies, I would like to introduce our plan to you. First of all, we are very interested in Portugal's ocean transportation industry. interest, we hope to be able to obtain the right to operate two seaports in Setúbal and Aveiro.

If we can obtain these two seaports, we will invest an additional 3 million euros to renovate and expand these two seaports, making them an important port connecting Europe and Asia.By then, these two ports will not only provide more tax revenue for the Portuguese government, but also create more than 2000 new jobs. "

The entire land area of ​​Portugal is only equivalent to the size of half a province in China. The Portuguese officials present are very familiar with the geography of their country.The two ports mentioned by Lin Zhenhua are important ports in Portugal, but due to the economic recession, the throughput of these two ports is not satisfactory.

Lin Zhenhua threatened to acquire these two ports, and to spend as much as 3 million euros in additional funds for renovation. His intention is also obvious.In recent years, the trade between China and Europe has developed very rapidly, and a large number of Chinese goods have been transported across the ocean to major ports in Europe.In the past, Chinese merchant ships encountered some obstacles when they arrived at the port. For example, when the port is busy, Chinese merchant ships may have to anchor outside the port and wait for a berth. Sometimes, customs of various countries may also make things difficult for Chinese merchant ships when they accept goods. , the resulting time delay and loss of money are very considerable.

China has been aiming to have its own ports in Europe as a major port of call for merchant ships.When the European economy was doing well, no country would hand over the management of the port to the Chinese, but now the opportunity has come.

What is taking advantage of the fire?Lin Zhenhua's plan was to take advantage of the fire and rob through and through.

Economy and Employment Minister Krato said hesitantly: "Mr. Lin, with all due respect, your request is too... harsh, right?
Lin Zhenhua smiled slightly and said: "Mr. Minister, I think this is a win-win solution. It is not only good for China, but also good for Portugal. Just think about it. In the past, Chinese merchant ships docked at various ports in Europe. If we have the two ports of Setubal and Aveiro, most of the Chinese merchant ships will dock here in the future, which is equivalent to transferring all the income of the ports scattered in various countries to Portugal. Say, isn't it good news?"

"That's true." Krato's eyes lit up, isn't it? Now Chinese goods are raging in Europe, and there are countless Chinese merchant ships docking at major European ports every day.If all these ships stop in Portugal, don't all the income from these ports go to Portugal?After Chinese goods are unloaded in Portugal, they must be transported to European countries by road and railway, and the cost of transit traffic brought about by this is also very considerable.

For the Chinese, merchant ships always have to dock anyway, no matter which port they call on.Owning a port operated by oneself can save countless troubles, so it is natural to choose to call at these two ports in Portugal.

"Krato, do you think we can accept the Chinese plan?" Da Cruz couldn't help asking in a low voice when he saw Krato's thoughtful thoughts.

Krato also replied in a low voice: "Da Cruz, I think this plan is beneficial to us. At present, the operation of these two ports is also very difficult. It is difficult to say that it may be possible to bring them back to life if they are handed over to the Chinese to operate them."

"Well, that's how it is." Dacruz nodded, but it was impossible for him to express his opinion on such a big matter right away. He turned to look at Lin Zhenhua and said, "Mr. Lin, please continue."

"Secondly, we hope to acquire part of the shares of the Portuguese national power group." Lin Zhenhua continued.

"This is unlikely." Dacruz said immediately, but this time his tone was not so straightforward, but with a bit of discussion, "Mr. Lin, the power grid is the lifeblood of a country, forgive us You cannot be entrusted with operating such critical infrastructure."

Lin Zhenhua smiled and said: "Mr. Minister, I think you are too sensitive. We are an enterprise, and the relationship between China and Portugal is not hostile. We don't have any need to control your power grid. That's why we hope to get the power of the State Power Group. Equity, just because the equity of the power group is the most reliable, it is impossible for it to go bankrupt."

In a country, all types of enterprises may go bankrupt, but water, electricity, gas and other departments related to people's livelihood cannot go bankrupt unless the people of this country no longer use water, electricity, and gas.As long as the power grid is still running, ordinary people have to pay for electricity, which constitutes the revenue of the power company.

Lin Zhenhua previously told Huang Gang that he wanted to imitate the European powers of the past, control the customs of the other country, and use tariffs as a guarantee for arrears, but this is not feasible under the modern international order.It seems much more harmonious to use a country’s electricity bill as a guarantee. In many countries, the power grid is operated by private companies, and it is not uncommon for foreign companies to participate in the shares.

"If we can participate in the operation of the Portuguese national electricity company, we will try to raise funds to build two large-scale wind farms on the coast of Portugal, thereby changing the energy structure of Portugal." Lin Zhenhua immediately threw out another big pie, It made the eyes of the Portuguese officials straighten again.

Wind power is the most fashionable thing nowadays. Portugal has always wanted to start a wind power project, but suffers from insufficient funds. Now Chinese companies are willing to spend money to build wind power projects in Portugal. This is really a big pie that fell from the sky.

"Mr. Lin, I have to admit that you are a very good negotiator." Dacruz said helplessly, "The conditions you propose are always irresistible."

Lin Zhenhua said with a smile: "Mr. Minister, you are too much, but I'm just being more sincere."

cough cough!Huang Gang quickly took out his handkerchief, covered his mouth, and pretended to cough, but in fact he just wanted to hide his uncontrollable smile.Lin Zhenhua, who is so black to the bone, is actually ashamed to say something sincere to others.

(End of this chapter)