Chapter 18 1986 The Power of Nothing

On March 26, Chen Yonggui, a former vice premier of the State Council from Dazhai, Shanxi, died in his sleep. More than 30 years ago, Chen Yonggui led a group of poor people wearing stars and wearing moons, and dug a 700-meter-long loess valley into a terraced field that could grow crops. Mao Zedong called on the whole country to "learn from Dazhai in agriculture", and Chen Yonggui became the idol of Chinese farmers.After he came to Beijing to serve as the vice premier of the State Council, he still wore a white sheep belly handkerchief, and did not change his true nature as a farmer.During his serious illness, he took half of the medicine prescribed by the doctor and kept half of it every day. The accumulation of less became more, and he saved half of the drawer, and asked his son to return it to the country.

Chen's death did not attract much attention.People seem to have begun to forget the most famous "Uncle Yonggui" in the country.Because, in this year, the "peasant hero" in everyone's mind is already another image. Factory directors of township enterprises, peasant entrepreneurs—their names always have a bit of earthy taste, in fact, they also look like Tubalaji, as if they have just been planted from the cultivated field.No matter what brand of suit they wear, they always don't fit well, and few people can wear a tie correctly. Their favorite clothing brands are Pierre Cardin in France and Goldlion in Hong Kong. can be seen clearly.Their Mandarin is terrible, and they like to post their photos on company brochures and advertisements, and their images are all ridiculous: sitting at a huge desk, talking on the phone with their right hand, and pressing their left hand on the other. On a phone, eyes staring straight ahead.German "Der Spiegel" said in a report this year, "In China, farmers are bold and reckless... thus bringing vitality to enterprises." The Asian Wall Street Journal commented, "Many farmer entrepreneurs have almost no any experience in business," and in a July 9 news report, the reporter said they "didn't know how to run a factory, how to do financial statements, or how to make a product of acceptable quality."However, the newspaper was amazed that their careers were growing vigorously, just as the writer Yu Hua wrote in a novel "Brothers" many years later, "They were trampled on and trampled like weeds, I was run over and over again by the wheels, but I still grew up vigorously."

Around 1986, the rise of township enterprises has become an indisputable fact. Two years ago, on March 2, the State Council officially issued a notice to rename commune and brigade enterprises as "township enterprises."As a new and independent form of enterprise, township enterprises emerged for the first time. According to relevant data, there were actually 1.65 million township enterprises in China that year, with a labor force of 38.48 million.By the end of 1986, two years later, the total number of township enterprises had grown to 15.15 million, with nearly 80 million labor force, 17 billion yuan in taxes paid to the state, and a total output value of 330 billion yuan, accounting for 20% of the national total. There is one in every part of the world” pattern quietly emerged.Regarding the growth of township enterprises, Deng Xiaoping made a very sincere evaluation, which he called "unexpected sudden emergence". On June 12, 1987, when he received the North Korean delegation, he pointed out that the development of township enterprises was the biggest gain that the central government did not expect during the rural reform. Small businesses have sprung up.The growth rate of township and village enterprises was 20% every year, which lasted for several years.This shows that the revitalization policy formulated by the central government is right, and this policy has achieved very good results.

This year's "People's Daily" published two long-form reports in March and April, "Shi Lai He Feng Fu" and "Native Local Wonders". Shi Laihe is the kind of saint-like rural cadre that the Communist Party has always advocated, who puts hardships first, enjoys later, and serves the people wholeheartedly. In 1985, after repeated investigations, Shi Laihe and other members of the village party branch decided to introduce a high-tech bioengineering to build the country's largest pharmaceutical factory for the production of inosine - Huaxing Pharmaceutical Factory. "This high-level, sophisticated, cutting-edge project, can our 'mud legs' make it?" Some people worry that "if you can't beat the fox, you will make a show."Shi Laihe's answer was: "Everything depends on man's efforts, the road is made by people, and the industry is created by people. Why can't we do what other people can do?"

On May 20, 1986, Huaxing Pharmaceutical Factory, which was designed and installed by Liuzhuang people, was officially put into operation.Since then, Liuzhuang's economy has grown rapidly, and it soon became "the richest village in the Central Plains". According to reports, for decades, there have been no criminal cases in Liuzhuang, and no party members have violated discipline.From family planning, weddings and funerals to old-age care and childcare, the cadres and masses in Liuzhuang consciously abide by socialist morality.There are 14 surnames, more than 300 households, and more than 1,600 people in the village. There are no clan conflicts and factional disputes, and there are no bad phenomena such as feudal superstition, gambling, fighting, and grand weddings and funerals.

In the spring of 2004, Shi Laihe passed away peacefully.The standard reporting phrase in the domestic media is: "A role model for Communist Party members." The existence of Liu Zhuang and Shi Laihe proves that in some villages in China, if there is a selfless and authoritarian leader, he has two abilities at the same time: one is extremely good at using some advantages and concepts to create a loose and A supportive ruling atmosphere; second, he has considerable market sensitivity and can often set up one or several very profitable factories. The strongman rules or runs his village in an authoritarian style based on charisma.

Under his rule, all the villagers have achieved a fundamental improvement in their lives (interestingly, these villages were often very poor begging villages in the past), and they are completely attached to this strongman in terms of personality. It is hard to tell what kind of organization this village is. From the administrative concept, it is the most basic administrative unit of the country, but from the economic concept, it is a strict profit-making organization. Some villages even have a listed company. Those strong people usually Being the chief executive of the village and the chairman of the company at the same time does not seem to be questioned by anyone, and it seems to be the only feasible way.What is even more intriguing is that the strongman's family is often the most powerful family in this village, and their children are already the core figures in village management when the strongman is alive. His authority is passed on to his children.

In the past 30 years, such well-known Chinese villages include Liuzhuang and Nanjie Villages in Henan, Daqiuzhuang in Tianjin, Huaxi Village in Jiangsu, and Hengdian in Zhejiang.As a unique humanistic specimen and community enterprise form, they have exuded a mysterious and inexplicable charm for many years. Lu Guanqiu is a farmer entrepreneur who looks similar to Shi Laihe, but is completely different in essence. This name originated from Lu Guanqiu and later became a common name in the media. As early as a few years ago, Lu Guanqiu, who was good at management, was a well-known local factory director in Zhejiang. He made his factory on the road of specialization early on, concentrating on the manufacture of automobile universal joints. In 1984 In 2010, he also spent 8,000 yuan to "buy" a college student from Zhejiang University. At that time, it was unbelievable for a college student to work in a township enterprise. The publication of "Country Wonderful Flowers" made him truly a national news figure.

Lu Guanqiu is regarded as "a model of common prosperity".In this report, the reporter not only praised Lu Guanqiu's management ability, but also talked about Lu Guanqiu as a selfless member of the Communist Party and a leader in getting rich together.The reporter used Lu Guanqiu's mouth to say, "This fire (referring to getting rid of poverty through enterprises) should be burned outside the wall, so that the people of the town will gradually become rich." The reporter also cited many examples, such as Lu Guanqiu's own All the 250,000 yuan contracted income was "donated" to the enterprise—in fact, this later became the biggest foreshadowing of Wanxiang Group's property rights reform. At that time, Lu Guanqiu said in an interview with a reporter from Xinhua News Agency: "If my income Too much disparity with the workers and there will be tensions and while I want the workers to work hard, if they see that I get a lot more than they do they will lose their sense of ownership of the factory which is not good for the cause Yes." He also participated in the construction of middle school teaching buildings, farmer's markets and feed processing plants in the township. He recruited 108 demobilized soldiers who had not yet been arranged in the township to work in his factory. .Because of the development of the universal joint factory, the township has built four main roads running through the whole township, and half of the families live in "small western-style buildings".Obviously, such a description is extremely deceptive. The information it conveys and the image it shows is that the government encourages capable people to start businesses, and at the same time hopes that in addition to being rich themselves, they should also take responsibility for making everyone around them happy. Responsibilities and duties of getting rich.In a sense, the government even naively believes that the social responsibilities they entrusted to state-owned enterprises in the past can be borne by township enterprises this time. After the rise of township enterprises, they should undertake all social functions of the relevant villages, including employment, Supporting social facilities, social public services, etc.

The idea reflected in this report was a mainstream idea of ​​the government and society at that time.Since 1978, the success of the rural production contract responsibility system has liberated hundreds of millions of farmers from farming, and the outlet for surplus labor has become a "dangerous resource."In this regard, scholars at home and abroad have very different opinions. Perkins, director of the International Development Institute of Harvard University, suggested in the book "China's Rural Development", "The only realistic solution is to allow farmers, especially the most Peasants in poor areas move into cities, they may not necessarily go to Shanghai or Beijing, but they must go to a city somewhere.” In the view of domestic researchers, a large number of farmers moving into cities will obviously cause uncontrollable Moreover, in the cities, the decline and reform of state-owned enterprises also "squeeze out" a large number of laid-off and unemployed people.Therefore, how to make the surplus rural labor force "leave the land without leaving the hometown" has become a very urgent and realistic topic. After this year, there was the first upsurge of farmers going to the cities to find jobs. According to Li Xuegang, the head of the "God's Eye" criminal investigation team at the Beijing Railway Station Public Security Section of the Beijing Railway Public Security Bureau, 1986 and 1987 were his "harvest years." "Sometimes six criminals could be caught in one day." , all came from the countryside.”In this sense, the unexpected rise of township enterprises undoubtedly allowed the government to find the best solution.

Lu Guanqiu was selected as a "model of common prosperity" for enthusiastic reports and praises, which happened under such circumstances.The fact is that for many years to come, local governments will firmly hold such a view, and at the same time, almost all township and village enterprise operators have vowed that they will undertake these tasks in order to obtain government support and resources. Therefore, the local government has transferred a large amount of resources to those township enterprises at low cost or even free of charge. This trend accelerated after 1992. Those township and village enterprises that were good at using and occupying government resources grew rapidly, and completed the clarification of property rights in various strange ways. More than ten years later, Lu Guanqiu and his Wanxiang Group became one of the largest private companies in China. This is the "hidden rule of getting rich" of entrepreneurs who have made a fortune by setting up township enterprises-they have made full use of the eagerness and naivety of governments at all levels to create public wealth and undertake social functions as reasons and commitments, and have won a lot of money. Low-cost policy support, compared with the state-owned enterprises in the city, they have a looser system, and at the same time, the low cost of land and labor makes them more competitive—objectively speaking, these township enterprises are indeed It has activated the economy of one side, provided a large number of employment opportunities, and driven local farmers to embark on the road of industrialization. In the 30 years of Chinese corporate history, this seems to be a very contradictory situation: In terms of financial and industrial policies, private companies that have thrived outside the system have always encountered great difficulties.The government has been trying to put all the reform results into the big basket of state-owned capital, but at the same time, it is "lucky" to hope that those private enterprises—especially township enterprises that originated in the countryside can undertake the transformation of the countryside and common prosperity. To this end, those enlightened local governments have supported it in many ways.In terms of results, this is a process of intertwined interests and ebb and flow: state-owned companies, although invested with a large amount of public resources and policies, have further shrunk due to the natural defects of the system; township enterprises have encountered policy oppression , on the other hand, they got support from the local government, and when these enterprises were already strong enough, they transformed into privatized companies one after another. However, the goal of "social service system" is inevitably greatly compromised. When Shi Laihe and Lu Guanqiu rise up in the field as a new force, it also indicates that the new mainstream of Chinese enterprise growth has shown its style. In February, 76-year-old Fei Xiaotong, China's most famous sociologist, quietly arrived in remote Wenzhou. Fifty years ago, this Yenching University graduate, who was frail since childhood, returned to his hometown of Wujiang to recuperate from his illness. He conducted more than 20 field investigations and wrote "Jiangcun Economy". The pinnacle. He was interested in Wenzhou because he saw a report.On May 12 of the previous year, the front page of Shanghai's "Liberation Daily" published a report entitled "Township Industry Looks at Southern Jiangsu, Home Industry Looks at South Zhejiang, 330,000 People in Wenzhou Are Engaged in Home Industry", with accompanying comments A new term was proposed for the first time: "Wenzhou Model".Since then, the Southern Jiangsu model of the collective economy and the Wenzhou model of the private economy have become the two major growth models of Chinese private companies.Fei Xiaotong, who has always been quite familiar with his hometown—the rural areas of southern Jiangsu, became very interested in the legendary "Wenzhou model". "When the car drove into the area south of Jinhua, I saw wooden signs appearing on both sides of the road from time to time, with the words 'Cargo Wenzhou' and 'Active Shandong' written on it. This is a new thing I have never seen in Jiangsu." Fei Xiaotong said in In the later article, he wrote his first impression of Wenzhou. That national highway was the busiest and most dangerous highway in China at that time, and accidents of overturning and killing people happened every day.Compared with southern Jiangsu, where collective enterprises are the mainstay, Wenzhou’s grassroots government is much poorer. There is no high-end reception room, and there is no heating equipment. Fei Xiaotong and his party listened to the introduction in the reception room of the township government, and the glass of the surrounding windows was incomplete. Incompletely, the cold wind blows in. Although he is wearing a woolen coat, the clear nose still drips down involuntarily, and his feet are cold and uncomfortable, and he can't sit still.However, what he saw in Wenzhou still made this wise old man very excited.In China at that time, there were endless voices of criticism and crusade against Wenzhou, and the aftermath of the "Eight Kings Incident" was still rippling.The open-minded Fei Xiaotong thought, "The method of cutting will not be effective, and it will grow back." His long research report "Wenzhou Trip" was published in the "Lookout" magazine in October, which produced a lot of The old man went to Wenzhou three times later and wrote long articles each time. "People's Daily" reporter Meng Xiaoyun also arrived in Wenzhou at this time, and she wrote a news report "Market Chapter".At the beginning of the news, she used a rather allegorical scene: "In the evening, after 6 o'clock, the state-owned stores closed, and the self-employed became active." The most amazing thing about township enterprises is how they suddenly developed from almost nothing. In those rural areas, there is no basis for industrialization, no raw materials, no technology, no skilled workers, and even no sales channels.How did these penniless peasants occupy the market and beat the well-equipped (at least equipment, workers, and state policy support) state-run enterprises?The only possible answer is that all their production factors are "borrowed" from state-owned enterprises, many of their equipment are obsolete by state-owned enterprises, and their technology is taught by engineers in the city who secretly go to the countryside on weekends , Many of their workers have received the most basic training in state-owned enterprises, and their market is often something that state-owned enterprises disdain to do.This is the state of "Genesis". The only thing that township and village enterprises can rely on is that the peasant entrepreneurs love their enterprises more than the factory managers in the cities, and they think it is their "career".This situation had developed very clearly by 1986. Compared with Lu Guanqiu and others in the ascendant, the weak competition of state-owned enterprises in the market has gradually become a fact that is difficult to reverse.In this year's newspaper news, the word "association" appeared most frequently.Those mud legs from outside the city rushed into the city. They bought the idle machinery and equipment in the state-run factories at extremely low prices, and they were moved into the crudely built and unpainted factory buildings, where they rumbled day and night. -Similarly, those state-owned factories that can get state loan support are buying a lot of advanced foreign equipment.More and more engineers accept the private employment of peasant factory directors. On weekends, they sit in the cars parked in front of their homes and roll blueprints to go to work in the countryside. The more popular way is to form joint ventures between township enterprises and state-owned enterprises. agreement, so that the technical assistance of the latter can be obtained with a small amount of money, as well as the use of well-known brands that have been cultivated for many years.There is a story about "Sunday Engineer" circulating in Jiangsu and Zhejiang. In 1986, a farmer named Xu Chuanhua in Xiaoshan County, Zhejiang Province founded a chemical factory for the production of liquid soap. He hired a professional technician from a large state-owned factory in Hangzhou. The Xu family father and son walked away, took out a pack of white powder from their pockets and poured it into the uncondensed liquid soap, completing the liquid soap production process of the Xu family father and son in several large tanks.After paying technical service fees for several years, Xu Chuanhua decided to spend 2,000 yuan to buy the mysterious formula.After paying, the technician told him that the packet of white powder was actually salt.Transfa Group later became one of the largest manufacturers of printing and dyeing auxiliaries in China. The "Economic Information Daily" reported on March 28 that a bicycle factory in Yulin County, Guangxi, was jointly operated with the Shanghai No.In addition to the factory in Yulin, the brand "Phoenix" was also sold to township enterprises in Shaoxing, Zhejiang. A report in April stated that hundreds of township and township enterprises in Wuxi, Jiangsu have gained vitality through joint ventures. State-owned enterprises help them train skilled workers, debug equipment, conduct product research and development, assist in raising foreign exchange, and provide brand support. In many places such as Hebei and Shandong, "economic associations" have emerged. State-owned enterprises subcontract some of their business to township enterprises in the form of contracting or joint operation, thus forming an alliance pattern.This kind of behavior, which was banned a few years ago, is suddenly encouraged. It is considered a win-win strategy. Through joint ventures, state-owned enterprises can reduce costs and even directly benefit from the paid use of brands.For township and village enterprises, they have obtained market access and assistance in terms of talents, brands, and technologies.What is especially important is that the way of joint operation also circumvents many controls in national policies. Joint venture factories can obtain strategic materials from the country, enter previously prohibited industries, and even carry out various businesses as state-owned enterprises. Joint ventures are seen as a new prescription for state-owned enterprises to gain vitality. This year, the government's enthusiasm for joint ventures is surprising.Quan Shuren, Secretary of the Provincial Party Committee of Liaoning Province, proposed in a newspaper to "break ideological resistance and promote horizontal alliances." Treat alliances as a measure of interests; strive to be the leader, unwilling to be a supporting role; fear that one's own power and interests will be reduced."This voice has played a strong role in promoting the large-scale attempt of the joint venture.In many places, the number of joint ventures has become a political indicator to measure the progress of enterprise reform. Afterwards, it was shown that this kind of support and joint operation was one of the important reasons for the rapid development of township enterprises along the coast. The effect obtained by the state-owned enterprises in the joint operation proved to be only temporarily effective, while the flexible private enterprises benefited from this volume. The huge and rigid "big elephant" has drawn endless "blood".A few years later, the township and village enterprises that are jointly operated will grow rapidly, while the state-owned enterprises that have been stripped of their resources will become even weaker. Therefore, the phenomenon of "the son eating the father" will soon appear. Supor Company, which will become the leading enterprise of cooking utensils in the country in the future, is one of the typical examples.Shenyang Shuangxi Pressure Cooker Factory produced China's first pressure cooker in 1964 and has always been the largest professional factory in China. Around 1986, Su Zengfu, the director of an agricultural machinery factory in Yuhuan County, Zhejiang Province, went north to find the Shuangxi factory. After exhausting his contacts and words, he finally became one of Shuangxi's joint ventures.Su Zengfu recalled: "It was very difficult at the time, but it was the Double Happiness Factory that gave us the opportunity. We made some money by making accessories, and a few years later, we started to make pressure cookers." The pressure cooker he produced was sold under the name of Double Happiness, and soon, The sales volume greatly exceeds that of the Shenyang factory.By 1993, the mother factory had earned 5 million yuan in brand usage fees from Su Zengfu a year, which actually exceeded its own production and sales profits. As a result of "the child is bigger than the mother", the two sides turned against each other day by day. Su Zengfu decided to abandon Shuangxi and create "Supor" by himself. By 1999, it had taken away most of Shuangxi's market share, with a market share of more than 45%. Su Zengfu smiled Yan: "I, a playboy, accidentally ran out of a famous role." The rise and fall of Supor and Double Happiness is the common fate of many joint ventures.From parts matching, to entrusted production of complete machines, to brand rental, and finally being discarded together as used "drug residues", state-owned enterprises have changed from active to passive in the joint venture, retreating step by step, and gradually falling behind. In the end, the entire market was given up. From the perspective of business strategy, it is very similar to "drinking poison to quench thirst". Township enterprises win almost every battle with state-owned enterprises, but this does not mean that their growth is smooth sailing. On the contrary, without any support from state policies, they will go through endless hardships. Fei Xiaotong went to Wenzhou. His political status at the time was the vice chairman of the CPPCC National Committee. Naturally, he was surrounded by local cadres, and he saw no flourishing superficial phenomena.In fact, while he was walking in Wenzhou, an underground financial game called "Taihui" was frantically playing in this money-activated land. "Taihui" is a name for private financing activities in southern Zhejiang. In the early 1980s, private enterprises in Wenzhou were already well developed, and the demand for finance was imminent. In September 1984, Fang Peilin, who was working as a mail room worker in a state-run hospital, opened the first private bank in New China - "Fangxing Bank" in Qianku Town, Cangnan.According to Fang Peilin’s later recollections, in order to find the basis for the policy, he looked around for central documents, and found a sentence in the Central Committee of the Communist Party of China (84) No. sex business..." Fang took it for granted, "If fund-raising is legal, then private individuals can also get the interest of the same nature as dividends." The former opened on September 29, and Fang Peilin posted a comparison on the door The bank has a more favorable and flexible deposit and loan form: 1.2% monthly interest rate for long-term deposits, settled over three months; 1% monthly interest rate for temporary deposits, deposit and withdrawal at any time; 2% monthly interest rate for loans, depending on the situation.The second day after his bank opened, the local Agricultural Bank closed it down. Fang Peilin had no choice but to take off the signboard. Later, he said mockingly: "The first private bank in New China actually only saw one day of sunshine." The bank was seized, and from then on, Wenzhou's private finance had to be forced to go underground.According to the financial policy at that time, domestic banks were not allowed to grant loans of any nature to private enterprises. Private owners could not obtain financial support from legal channels, and they were not allowed to open private banks. The shortage of funds became a very acute problem.Under such circumstances, Fang Peilin's bank business has never stopped. With the acquiescence of the local town government, it can boldly engage in financial services in the region, but on the other hand, it has never been recognized by the superior bank. , legally out of prison illegal state.In order to obtain an official identity, Fang Peilin later sent several requests to the higher-level government. In 1986, the Wenzhou branch of the People's Bank of China tentatively wrote a report to the head office. On November 7, a telex reply signed by the then president Liu Hongru: For private banks, please follow the regulations of the Gao Qunyao Bank Management Regulations. Issue the "Operating Financial Business Permit". This ambiguous state is a very unique phenomenon in China's reform.The rise of civil forces has made the original system more and more unable to adapt, but policy changes have been slow to come. Therefore, violating and crossing the existing laws has become a risky behavior that reformers have to do.Similar to Fang Peilin's bank, a kind of credit transaction activity called "raising meeting" or "platooning meeting" was quietly carried out in various villages in Wenzhou.It first appeared between several people, each of whom contributes a sum of money to form a mutual aid "guild", and the person who uses the money pays others higher interest than the bank.Statistics show that in Wenzhou around 1984, private funds circulated in this way exceeded 300 million yuan, becoming the most important financial driving force for the development of local private enterprises.At that time, almost all the owners had borrowed or lent funds from the "Taihui".Chen Jiashu, who was once famous for producing military emblems for the U.S. Marine Corps, recalled: "At that time, the development of the factory depended on underground channels, and it could borrow up to 10 million yuan at a time." Due to the lack of legal protection and regulation, the operation of the "Taiwan" is purely based on the personal credit guarantee among the villagers, which is not too risky at ordinary times. However, when the economy grows rapidly and the supply and demand of funds are out of balance, unexpected events will occur. . In 1986, the domestic economy was heating up, and the thirst for funds increased in vain. The conventional credit effect could not meet the growing demand for loans. Immediately, someone thought of high-interest financing. First, they tried carefully, and then expanded boldly. Soon, a kind of A new almost crazy money game opens. At that time, the rules of the Wenzhou Promotion Association were as follows: a member paid 11,600 yuan to join the association, and from the second month onwards, the owner paid the member 9,000 yuan per month for 12 consecutive months, totaling 108,000 yuan; Starting from January, the members will pay the owner another 3,000 yuan for 88 consecutive months, totaling 264,000 yuan, and the owner will still pay 9,000 yuan per month.In such a revolving rolling interest, a session is 100 months.A discerning person can understand at a glance that the biggest risk is in the first year, mainly turning 11,600 yuan into 108,000 yuan.Someone has calculated that to maintain a membership of 11,600 yuan, 22 members must be developed by the sixth month, 691 members by the twelfth month, and 20,883 members by the eighteenth and second months. members. Attractive investment and high returns make the organizers of the meeting the gods of wealth in the eyes of the folks. Driven by luck, fanaticism and herd mentality, an "impossible game" is in full swing.A woman named Ye Sanfeng in Cangnan has a monthly net income of 1.2 million yuan. In Yueqing, there are 1,346 large and small associations, and the largest association has developed 12,122 people. 300,000 people in the district were involved, and the amount of the membership amounted to 1.2 billion yuan.The benefit ratio that is impossible to achieve at all naturally causes the association to develop new members at a geometric progression rate as the only means of sustaining it.At that time, the craziest member development method was the so-called "short-term membership": membership paid 12,000 yuan, 9,000 yuan was returned to members in the second month, and 9,000 yuan was repaid in the third month, with both principal and interest paid off.Although the club owner will lose 6,000 yuan, it can be used to lure more people into the club.At the height of the promotion, almost all local officials were involved, and in some places there were official associations, which were specially set up for officials. Joining the association was not like paying money, but receiving money first, and then returned in small amounts after three months.This will be divided into three types: 100,000 yuan, 50,000 yuan and 10,000 yuan, depending on the size of the cadre. This crazy game has been going on for over a year with total government failure.In the spring and summer of 1986, the capital chain showed signs of breaking, and news broke out that the club owner had absconded one after another. Soon, the situation took a sharp turn for the worse. The extreme excitement immediately turned into extreme panic, and the promotion system instantly avalanche.Throughout the autumn, the Wenzhou area fell into unprecedented chaos, and thousands of debt collectors frantically rushed to the home of the leader.Dozens of debt collectors in Cangnan rushed to the owner’s house with explosives, forcing him to hand over the money, or they would die together; the two leaders in Pingyang were caught by the debt collectors, tied to the pillars, and nailed into the fingers of the leader with bamboo sticks. , burned the breast with iron tongs, and tortured for three days and three nights, resulting in the death of the prisoner; hundreds of primary schools were forced to suspend classes because students were often taken hostage by debt collectors on the road.In just three months, 63 people in Wenzhou committed suicide, 200 people absconded, nearly 1,000 people were illegally detained, and more than 80,000 families went bankrupt.It was at this time that the government woke up like a dream. They began to arrest and arrest those well-known church leaders, trying to quell public anger by making an example. Li Qifeng, Zheng Lefen and others were finally sentenced to death for speculation. The scandal of raising the meeting has preserved a fragment in the history of modern Chinese reform in a very bloody and hideous way.It shows that when a public need cannot be met through legal means, even the most sane group of people can engage in the craziest collective behavior.The fact of the following ten years is that Wenzhou people have never stopped experimenting in private finance. On November 1, 1986, a man named Yang Jiaxing raised 318,000 yuan to establish the earliest "shareholding Cooperative Credit Cooperative" - ​​Lucheng Urban Credit Cooperative, Lucheng is another name for the urban area of ​​Wenzhou City.Six days later, a furniture factory director named Su Fangzhong founded a city credit cooperative controlled by his private owner. He used his furniture trademark to name the newborn——Dongfeng Credit Cooperative.Due to the lack of legal support, the fate of these non-government financial institutions is like the product of illegitimate birth. They are in danger every day, and they are always facing the possibility of being banned and sanctioned. In 1986, although the Wenzhou Parade was a sensation, its involvement did not go beyond southern Zhejiang.In the future, due to the ambiguity and vacillation of financial control policies, more shocking financing turmoil will erupt in Beijing, Nanjing and other places. At the beginning of 2000, the State Council once again carried out the rectification and clean-up of the financial order. The non-governmental credit cooperatives and rural cooperative foundations in southern Zhejiang and Guangdong were rectified one by one, or were banned, or forcibly merged into the state-run rural credit unions. More than 2,000 private financial institutions were shut down and transferred. In February of that year, Su Fangzhong was wanted and arrested by the police on suspicion of illegally accepting public deposits and fraud. On the first issue of "Time" in 1986, Deng Xiaoping once again became the cover character, and he was named "Person of the Year" for the second time after 1978.In October of the previous year, "Time" sent an interview team to conduct five days of interviews in China, including an interview with Deng Xiaoping himself for more than an hour. It was titled "China's Second Revolution", Use almost half of the magazine's huge space to conduct an all-round scan of the developing China. Weekly senior writer George Church wrote: "Foreigners who revisit China only every few years can't believe they're visiting the same country, with its colorful free markets for food and neatly built up villages. Small huts and vibrant rural industries, these are things they and their hosts have never seen." In this report, Deng Xiaoping was identified as "a thorough pragmatist who has never paid much attention to names. He The most famous sentence is a simple metaphor: It doesn’t matter whether the cat is black or white, as long as it catches mice, it is a good cat.” The weekly admitted that China has solved the food problem, and farmers have been liberated through the contract system. Preferential policies, more and more foreign-funded companies are also entering China in a steady stream, urban reform and reform of state-owned enterprises have been mentioned on the agenda. In November, John Felson, chairman of the New York Stock Exchange, visited China. He presented Deng Xiaoping with an exquisite badge - the emblem of the New York Stock Exchange.As a reward, the gift chosen by Deng Xiaoping was the first stock publicly issued by New China - a Shanghai Feile stock with a face value of 50 yuan, No. 05743.邓小平告诉他，这只股票的资本金是165万元，发行了3.3万股，他是唯一的外国股东。范尔森高兴地说：“我很荣幸成为社会主义企业的第一个美国股东。”这张飞乐股票后来一直被收藏在纽约证券交易所的成列室里。在此前的一年，中国的第一家股票交易市场，即上海静安证券业务部，已于1985年12月31日正式开张了，当时允许现货交易。事实上，在更早的时候，深圳、北京和上海的一些企业已经尝试着向公众出售股票了，广东的幸福音响、北京的天桥百货和上海的飞乐音响相继发售了自己的股票。这当然只是一些实验性的举措，资本市场的真正活跃还要再等若干年。 1986年，可以被纪念的事情很多，美国自由女神像建成100周年，德国人发明汽车100周年，全世界各地都进行了不同形式的庆祝。 1月28日，美国太空飞船“挑战者”号升空，这是人类第一次用电视直播飞船升空现场，数亿人无比吃惊地目睹了“挑战者”号的意外爆炸，美国总统在随后的演讲中坚定地说，“在冒险扩大人类活动领域的过程中，这类痛苦事件在所难免，可是未来不属于怯懦者，未来属于强者。”三个月后，苏联的核电站发生泄露事件。 在商业史上，还有一个重大的事件必须被记录。面对咄咄逼人的日本公司，美国除了在高科技产业霍桑寻找对策之外，还在货币政策上发起来额凌厉的反击，他们联合西方七国财政部长，强行要求日元升值，这个行动从1985年开始，第一次宣布美元对日元贬值25%，在1986年初的几个月里又让日元升值40%，到1988年，升值达86%，最终形成可“超级日元”泡沫。骄傲自满的日本人不知就里，因货币的升值而雀跃不已，在未来的数年内，日本政府和公司大量购买美国国债和房地产，收购美国公司。从这一年到1992年，日本人认购了一半以上的美国国债，还购买了价值720亿美元的美国房地产。正当他们雄心勃勃地炫示要“购买整个美国”的同时，泡沫日渐生大，危机如幽灵般地蹑足而至。 传奇的管理学彼得·德鲁克发表《变化了的世界经济》，他预言：经济的内在结构已经发生可根本性转变，这一转变给发展中国家追赶发达国家增加了巨大的，甚至是难以克服的困难。他指出，第一，知识和资本正在加速取代体力劳动者，发展中国家所依赖的一个主要优势——劳动力丰富和价格便宜将会逐步丧失；第二，工业生产从基本上属于劳动密集型转向一开始就是知识密集型，譬如在半导体芯片和药品制造中，劳动力的成本分别只占到12%和少于10%；第三，信息和知识为基础的产业，正在取代以物质为基础的产业，成为现代经济增长的中心，这就要求一国的国民普遍具有很高的知识水平。 德鲁克的这些论断在1986年的中国还几乎没有人听到，或者说，即便在耳边大声朗诵也不会引起任何的关注。中国的企业还距离这位管理大师的话很远很远。 1986年，中国首次宣布允许私人拥有汽车（有趣的是，也是在这一年，苏联宣布出租车可以由私人来经营，这两个社会主义国家几乎在同时开始了市场化的试验，尽管后来它们选择了两种不同的模式），但那时的私家车很少是用来消费的，购买者多是用来跑运输或当出租车使用。11月，上海第一辆“Z”私人自备车辆照代码0001号诞生，随后，私家车开始在深圳、广州等沿海城市及长春、重庆等拥有轿车生产厂的城市涌现。 人们开始比尔更多的心思花在怎么赚钱上，一些新奇的行业出现了。用信件来往是当时人们最重要的交流方式，而这一年，很多人收到信件时挥发性贴在上面的邮票不翼而飞了。在重庆、上海等城市，倒卖和炒作邮票正成为一门新兴的生意。在很多城市邮政局的门外面，形成了一个邮票交易的集市，一张1980年发行的8分猴票，可以叫卖到25元，短短六年增值300多倍，这些邮票的炒作者很快将成为另一种票券——股票的生力军。 值得一提的是，一些日后将风云一时的人物也在这一年开始了他们的商业生涯。杨元庆从上海交大毕业了，他没有等学校给他分配单位，就跑进了中关村，那里已经出现了100多家开放性公司，《人民日报》将之描述成“电子一条街”和“中国的硅谷”，杨元庆加入了柳传志的“部队”，后者正热火朝天地推销倪光南发明的中文电脑。荣智健加入中信泰富，此时的中信已经成为一家正部级的大公司，它被特许赋予自主审批进口项目的权利，这在当时几乎就是一种无上的特权。在乌鲁木齐，一位名叫唐万新的高考落榜生用仅有的400元前创办了“朋友”彩印店。 尽管做万元户和经商下海已经成为一件很值得炫耀的事情，一直处于地下状态的诗人北岛、舒婷、顾城等等走到可前台，他们的诗歌被集结在一起出版，由北京大学教授谢冕选编的这本诗集风靡全国大学。尼采和存在主义思潮进入到了大学校园，“上帝死了”，“偶像的黄昏”，神经质的尼采正迎合了人们对所有凝固思想的反叛，一切坚硬的东西都开始烟消云散。年轻人不再向往“安全而令人窒息的国营企业”，外资公司以及刚刚兴起的民营公司成为他们新的选择。在中关村，出没着越来越多的大学生，他们当时典型的装扮是：一身百元西装，一个兜袋发票，腰上别个BP机。后来创办了中国最大的新闻门户网站新浪的王志东，当时还在北大无线电系读书，他没等毕业就跑到中关村去打工了，很多年后他回忆说，我们白天在街上兜售盗版软件和二手电脑，晚上就去阴冷的地下室听诗歌朗诵会。 春天，北京爱和管弦乐团的专业小号演奏员崔健创作出他的成名作《一无所有》，5月9日，在北京举行的“国际和平年百名歌星演唱会”上，当他穿了一件颇像大清帝国时期的长褂子，身背一把破吉他，两裤腿一高一低地蹦上北京工人体育馆的舞台时，台下观众还不明白发生了什么事情。音乐响起处，崔健唱到：“我曾经问个不休，你何时跟我走，可你却总是笑我一无所有。我要给你我的追求，还有我的自由，可你却总是笑我一无所有。脚下的地在走，身边的水在流，可你却总是笑我一无所有。为何你总笑个没够，为何我总要追求，难道在你面前我永远是一无所有……” 这是一个直指心灵的声音，它沙哑而高亢，愤怒而温情，在5月的京城之夜，它的每一个音符从远处奔袭而来，直接穿过所有年轻人的肌肤，跟血液融合在一起，然后温暖无比地爆炸。