Chapter 26 1990 hot and cold
1990 is considered a lucky year.
American futurist John Naisbitt, who once published "Megatrends", published "2000 Megatrends" in February, trying to predict the direction of the next decade. “The meaning of the great symbol of the millennium depends entirely on how it is understood,” the optimistic scholar wrote. “It may mark the end of an old age or the beginning of a new one. We believe that human beings have decided to grasp the positive side. Deep in the human heart there is a commitment to life and to an ideal world.” Beijing’s Central Party School Publishing House introduced and published the Chinese version of this new book in June Version.
It turned out that, compared with the hot and cold Chinese economy, more amazing things happened in the world this year. In March, Namibia, the last colony on the African continent, became independent; in May, North and South Yemen in Asia were unified; in July, Yeltsin announced his withdrawal from the Communist Party of the Soviet Union; in August, Iraq invaded Kuwait, and the United States planned "Operation Desert Storm" and decided to declare war on Iraq; in October On the occasion of the first anniversary of the collapse of the "Berlin Wall", Germany, which had been divided for 45 years, was finally reunified; in December, Poland, Hungary, Czechoslovakia and other socialist countries in Eastern Europe experienced drastic changes one after another.
It is obvious that mankind has entered a more turbulent era in the middle of nowhere.
China in 1990 started amidst a crackdown on counterfeiting and shoddy products.Wenzhou in southern Zhejiang once again bears the brunt.
In the history of China's reform, Wenzhou is a place where people can easily get "misunderstood".This is the place where Chinese private enterprises first sprouted.In the eyes of some people, it is a "hotbed of capitalism" and a cancer that must be removed.In the minds of others, it is like the "Mecca" of the market economy, the vanguard of non-government forces breaking through the old system.For a long time, the evaluation of Wenzhou has become a "side election" and a temperature gauge for the reform stance.Whenever there is a change in policy direction, it is often here that the first signs can be sniffed out.
Wenzhou businessmen are called "Chinese Jews". They have left their hometowns since they were very young and went out to make a living. They are the first group of people in China who have market awareness, and they are also the first group of people who made money in business activities. .In Wenzhou, China's earliest trading merchants, the first batch of professional markets, the first private banks, and the first joint-stock enterprises appeared. For many years, they appeared like catfish fighting for their lives, appearing in every place with profit opportunities. In the field, they traffic in small commodities, speculate on real estate in various places, go to Shanxi to contract small coal mines, dig underground oil fields in Shaanxi, and resell cotton in Xinjiang. They are the earliest practitioners of business activities, spreaders of new ideas, and promoters of new products The smugglers, smugglers, and manufacturers of fake and inferior products are always walking on the edge of the law, and they are always able to catch the business opportunities that have just sprouted in the first place.
A story about a shrewd businessman in Wenzhou has been widely circulated: a factory director of a state-owned enterprise in Northeast China came to Wenzhou to discuss business, but the two sides were stuck on the price, and the people of Wenzhou immediately pulled him into the best seafood restaurant for a feast Afterwards, the Northeast’s stomach could not withstand it as expected, so he was rushed to the hospital late at night. The Wenzhou boss immediately sent his wife to serve the pot in front of the bed day and night. Of course, the "little" differences are out of the question.
There was also an unimaginable and darkly humorous economic case in a poverty-stricken county in Wenzhou: local farmers delivered letters to state-owned enterprises all over the country and ordered various second-hand machinery and equipment. Scalping on the spot.Then, those farmers went to the newspaper to publish the obituary of death under a pseudonym, and when those foreign companies chased after them to collect their debts, some people showed them the obituary with a mournful face: people also died, who should they ask for debts?In this way, all the farmers in a village participated in this very weird fraud game, and the largest second-hand machinery and equipment trading market in southern Zhejiang was formed in the local area.
At the end of the 1980s, everyone who went to Wenzhou was amazed by the local dining culture. There, when people with style treat guests, they must serve two soups. It is for "smooth sailing", and the other soup is a small basin floating in a large seafood basin, on which ten imported watches are placed in a regular manner. Each person present has a watch, which is for "expressing your heart".
At that time, another phenomenon that was difficult for the people of the whole country to accept was that Wenzhou people who got rich first set off a jaw-dropping "grave-building movement". The reporter of "China Youth Daily" Mai Tianshu once described the 1990s in a surprising way. Wenzhou before and after: "When the boat was sailing on the Oujiang River, there were hundreds of tombs rushing forward. The white flowers all over the mountains and plains were the world-famous Wenzhou Chair Tombs. It is not just the flesh and blood of Wenzhou people’s ancestors, it is the flow of traditional spirit, and it is also the flow of new wealth from the market. The degree of wealth in a place can often be easily concluded from observing the chair graves: which village is the richest, where the tomb is most splendid."
The wisdom and cunning displayed by the early Wenzhou merchants in business are completely different from hard deceit and force, but they fully demonstrate the cunning and blood without moral bottom line in the process of primitive accumulation.Along with the prosperity of the market and the prosperity of the people, the destruction of the original commercial order, the indifference of simple public concepts and the destruction of the ecological environment.To be precise, the Wenzhou phenomenon is not an isolated case. It also exists in all areas where commercial activities are active first, such as the Pearl River Delta and Chaoshan area in Guangdong, the Jinjiang area in Fujian, and the southern area of Jiangsu.We can only say that it was an era that lacked a sense of good and evil. In the face of the theme of the era of "getting rid of poverty", all moral value judgments seemed pale and powerless.
The poor quality of Wenzhou products was criticized very early on.This place, together with Jinjiang in Fujian and Shishi in Guangdong, is listed as the "Three Major Counterfeit Centers" in the country (some people also include Zhongguancun, which is full of inferior computer products, and call it the "Four Major Counterfeit Centers"). Among them, Wenzhou is the most famous.As early as around 1985, the leather shoes and belts produced in Wenzhou were known for their poor quality. On August 8, 1987, overwhelmed Hangzhou residents lit a big fire in Wulinmen Square, the center of the riot, and burned more than 5,000 pairs of Wenzhou's fake and low-quality shoes together, forming a sensational news across the country.
Around 1990, the impact of counterfeit and shoddy products on the Chinese market has become a hot topic of public dissatisfaction. The relevant state departments have made up their minds to crack down on counterfeit and shoddy products as a focus of rectification. On the one hand, it can purify the market and improve consumer confidence; Small and medium-sized enterprises outside the system can be purged.As early as the beginning of the year, some key areas have been delineated, and Wenzhou, which has always been criticized, has once again become the focus.The one selected as a "typical" this time is the Liushi Township in Yueqing County, Wenzhou, where the "Eight Kings Incident" happened that year.
After several years of development, Liushi Town at this time has become a gathering place for the production and sales of low-voltage electrical appliances in the country. There are actually thousands of electrical workshops in Xiaoxiaoliu City, and the quality of the products is very uneven.Hu Hongwei, a reporter from Xinhua News Agency, saw in an interview there: peasants who had just put down their hoes were dismembering waste AC contactors purchased from state-owned enterprises all over the country, and using sandpaper and shoe polish. It was polished brightly.The pier by the river was crowded with groups of village women, who washed baskets of electrical appliances, and then dried the pieces of electrical parts on the open space on the river beach like dried sweet potatoes.Beside the red-hot pots and stoves, the old women with dim eyesight are cooking while slowly shaking the enameled wire...
In order to make money, the Wenzhou businessmen in those electrical workshops did everything they could. They replaced the quartz sand of the fuse with rice bran, and used iron sheets instead of silver as relay contacts.The state stipulates that low-voltage electrical appliances must be produced with a license. Among the large number of enterprises in Liushi, less than 1% have licensed companies, and less than 0.1% have licensed products. After many tests, all unlicensed products are unqualified.In order to sell, merchants in Liushi spent money to buy the signs of some state-owned enterprises, marking all the factory places of electrical appliances as Beijing and Shanghai. In 1989, the State Bureau of Technical Supervision launched an investigation into the low-voltage electrical appliance market. In the "Summary Report", the investigator angrily wrote: "This time, more than 7,000 distribution units were inspected nationwide, and the inferior low-voltage electrical products detected exceeded 1.7 million pieces (units), worth more than 30 million yuan. Inspections in various places found that most of the fake and inferior low-voltage electrical appliances came from Wenzhou, Zhejiang, especially Liushi Town, Yueqing County, Wenzhou.” At the same time, people from all over the country Accidents have also frequently exposed Liushi’s misdeeds to the world: Heilongjiang Jixi Coal Mine caused a serious gas explosion due to electrical leakage of Liushi’s inferior electrical appliances, and many people died; All the million-dollar products were scrapped, and after an investigation, it was the fault of Liushi's low-voltage electrical appliances.
In May, the General Office of the State Council made an unprecedented "separate document" for a town in Liushi - "Notice on the Investigation and Suggestions on the Production and Sale of Undocumented and Shoddy Products in Yueqing County, Wenzhou". In June, the seven ministries and commissions of the country set up a joint inspection team to Yueqing to supervise and deal with it. Zhejiang Province and Wenzhou City successively sent working teams to Yueqing. According to the eight-character policy of "blocking, guiding, and supporting", investigate and punish Liushi Electric Appliances.The rectification lasted for five months. According to public reports, all 1,267 low-voltage electrical appliance stores in the town were closed, 1,544 household production and industrial households went out of business, and 359 second-hand goods business licenses were revoked.The public security department filed 17 cases involving 18 people, the procuratorate filed 26 cases involving 34 people, and the industrial and commercial department filed 144 cases.
Such a large-scale rectification has silenced Liushi and even the whole of Wenzhou, as if the "Eight Kings Incident" is repeating itself.However, judging from the results, it did not lead Liushi to the path of destruction.It was during this process that some powerful enterprises stood out. After a year of rectification, 25 slightly larger enterprises finally obtained reissued production licenses.At the end of the year, a company called Qiujing Switch Factory split into two. Nan Cunhui, who was a shoemaker, and Hu Chengzhong, a tailor, respectively established Chint and Delixi, which later developed into the largest low-voltage electrical appliance company in China.Around 2000, the output of low-voltage electrical appliances in Liushi accounted for 60% of the national market share, and it has become a modern industrial cluster.
The rectification of Liushi is a microcosm of the rectification in 1990.At that time, in Guangdong, Zhejiang and other coastal areas, rectification activities with the theme of combating counterfeiting and shoddy goods emerged one after another. In September, Xinhua News Agency published a press release titled "Minister of Commerce Gets Scammed for Buying Shoes", which painted the attack in a dramatic way.According to the news, on the afternoon of July 12, Minister of Commerce Hu Ping went to Hubei for investigation and research, and visited Wuhan Department Store.In front of the leather shoe counter, Hu Ping took a fancy to a pair of brown leather shoes with mesh, so he paid 49.5 yuan to buy the pair of shoes, put on the new pair of shoes on the spot, and continued to visit. Back in Beijing on the afternoon of the 13th, when I took off my shoes at home, I found that a piece of the heel of my right shoe had fallen off. On the 17th, Hu Ping talked about this incident at a meeting of commercial bureau chiefs in 11 cities, and said with deep emotion: "The proliferation of inferior products is too abominable. The producers are responsible for this problem, and commercial enterprises are not strict in purchasing goods. Responsibility." On the 21st, Zeng Xianlin, Minister of Light Industry, met with Hu Ping and said: "The quality of shoes is the most serious problem reported by consumers at present. The Ministry of Light Industry has planned to hold an exhibition of fake and shoddy shoes." Hu Ping immediately said: "I support it. If you hold this exhibition, I hope that the pair of shoes I bought can also be exposed as an exhibit."
This news uses the most vivid way to let readers across the country see the intrusion of counterfeit and shoddy products on daily life, and thus can reunite the national crusade.However, another fact that is happening is that the rectification of counterfeit and shoddy products will sometimes become a means and reason for governments at all levels to protect the vested interests of state-owned enterprises.
Dandong City, Liaoning Province is the industrial base of X-ray instruments in my country. The local Instrument Component Factory and Dandong X-ray Instrument Factory are national key enterprises. Ray flaw detector.Since the mid-1980s, some people left the state-run factory and started more than a dozen private companies nearby that produced the same equipment.According to reports, these small private factories "have not been reviewed and approved by industry authorities or established projects, have no complete quality inspection methods, no complete anti-radiation pollution facilities, and no complete technical documents, product drawings, and process requirements."In this bare-handed situation, they began to compete with big factories: small factories go to big factories to recruit talents, part-time workers are paid 300 yuan a month, technicians are paid 800 yuan a month, and an additional 500 yuan is added for debugging a piece of equipment; Equipment and parts are always missing, and then appear in the small factory; the big factory develops a new product, and after a while, the blueprint appears on the desk of the director of the small factory; They can use RMB, and the price is much cheaper; the small factory digs the customers of the big factory everywhere, solicits friendship and gives kickbacks, which makes the source of customers lose day by day; The factory gave a higher commission, and even "sell ten units, you can give a house". The "Economic Daily" commented that for the factory directors of many national backbone enterprises, they are not only bound by various systems, unable to move, but also externally controlled by those elf-like private factories that do not follow the rules. Harassment, the only thing I can do is smile wryly.In this rectification, these small factories have been severely rectified on the grounds that "blind development, repeated distribution, and repeated construction have seriously affected the national industry planning."Such consolidation is happening in almost every industry where private factories are increasingly active.
This kind of targeted rectification aimed at enterprises outside the system has objectively restored the order of some industries, and it has indeed cracked down on the growing trend of counterfeiting and shoddy products. troubled. Observing this phenomenon, the British "Financial Times" on January 5 said, "In a period of Beijing's readjustment of central planning and tightening of government control, private enterprises are being tightly controlled, although they are allowed to cooperate with larger state-owned enterprises. Enterprises co-exist, but state-owned enterprises are given priority and will never be allowed to be cancelled.” In May 1990, the magazine “China Reporter” sponsored by Xinhua News Agency published the article “New Concept of Glory” and also thought: “Incoming newspapers and In publications, there are fewer reports about self-employment. What is the reason? Many editors feel "uncertain". As for the society, the situation is even worse. It is a "severe and fast" punishment. Sometimes people mistakenly believe that "the central government has closed it, and it will be a matter of time". The silence of the press for a period of time has virtually increased this anxiety. In the past few months, the whole country The sharp drop of 3.6 million self-employed people cannot be said to have nothing to do with this atmosphere.”
During that period, township and village enterprises were jokingly called "climate economy", that is, fluctuating growth with the loosening and tightening of policies.Related to this is the fact that the rise of private companies has become a reality that is hard to ignore.In Guangdong and Jiangsu and Zhejiang provinces, TVEs have gained leading market positions in many industries (especially electrical components).The universal joints produced by Xiaoshan Lu Guanqiu's universal joint factory account for 50% of the national market share, the computer memory produced by Zhangjiagang Electronic Computer Factory, the deflection ring produced by Changshu TV component factory, and the railway signal light produced by Shanghai United Light Bulb Factory, etc. And so on, have become national industry champions.These enterprises will start from a highly specialized industry and gradually grow into a modern large company.It was also from this year that the National Bureau of Statistics included industrial enterprises established in townships and townships when it calculated national industrial growth, and adopted the concept of "gross industrial output value at and above the township level". Statistical experts admitted that township enterprises accounted for about It accounts for 1/3 of the national industry, and before that, these enterprises were "non-existent" in the national statistics.When many European and American economists study Chinese companies, they will be confused by the dramatic data in the early 1990s. In fact, the "surge" in the number and output value of township enterprises around those years was caused by statistics. In 1990, the national industrial growth rate was 6%, and the inclusion of township enterprises increased by at least three percentage points.
At a symposium in October, Chen Yaobang, vice-minister of the Ministry of Agriculture, admitted that "unhealthy trends in the industry have caused losses to township and village enterprises. Departments use the excuse of industry management, issuance of production licenses, product evaluation, or supply of affordable materials to remove and balance the affiliation of township enterprises."
What Chen Yaobang said is only part of the facts.For a long time in the past, there has been a phenomenon: in order to protect themselves and obtain policy support, some private owners "affiliate" their enterprises with the township collectives, pay a certain management fee every year, and the rest of the assets Disposal is all autonomous.They are called "enterprises operating with registered households", "red hat enterprises" or "false collective enterprises".There are three main reasons for its affiliation: political reasons - to avoid political discrimination and intermittent rectification blows; economic reasons - to enjoy some preferential policies of collective enterprises, to legally obtain raw materials, etc.; operational reasons - in the early stage, private enterprises are not affected Trust of consumers and units of economic interaction.For quite a long period of time, the existence of this part of enterprises has caused confusion to the statistical and survey departments, so that people cannot accurately calculate the real situation of private enterprises.
After 1989, with the tense macro situation and the government's severe rectification of private enterprises, this "affiliation trend" suddenly heated up.Like Wang Yanjiang in Shandong and Jiang Xipei in Jiangsu, cases of donating their own businesses to collectives are not common after all, and more private business owners have joined or belonged to state-owned or collective enterprises.According to statistics, in the Shantou area of Guangdong, there are as many as 15,000 such enterprises, accounting for about 60% of the registered collective enterprises. After the mid-1990s, the government and the media suddenly paid attention to this phenomenon and conducted in-depth investigations. In an investigation by Economic Daily reporter Ma Liqun, he believed that "false collective phenomenon is a way for private enterprises to seek advantages and avoid disadvantages. It is not surprising, but because this phenomenon damages the interests of the country, we must pay attention to it. The existence of a large number of such enterprises seems to strengthen the collective economy on the surface, but it is not the case. These enterprises enjoy Preferential tax and credit policies have damaged the national finances. Some local fake collective enterprises account for 80% of the registered collective enterprises. If they are cleaned up, the national tax revenue will undoubtedly increase considerably.” Ma Liqun said Views represent the positions of a considerable number of observers and government officials at the time.Soon, under the supervision of relevant departments of the State Council, all localities began to clean up "red hat enterprises"—that is, fake collectives.
The clean-up process lasted for four years, during which complications arose in the implementation of governance.For the government departments, it is natural to hope to clean up the fake collective enterprises with "public skins and private bones", so as to prevent the preferential policies they provide from being put in the wrong "basket" and given to the wrong target.As for some private property owners who have been attached to the collective before, they feel very complicated. On the one hand, they still want to wear the "red hat" to continue to enjoy the preferential policies; face, in order to avoid endless troubles.Especially for those "red hat enterprises" that have a certain scale, "removing their hats" is actually more conducive to their future development.A more subtle phenomenon is that during the clean-up process, some "true collective enterprises" also quietly squeezed in, and their operators "proved" in various ways that this enterprise belonged to a "red hat", and then smoothly transferred It belongs to oneself.There is no data to show how many real and fake "red hat enterprises" finally completed the clarification of their property rights in the four years of cleaning up. "It is also the result of a large number of private enterprises "removing their hats".
Another enterprise event that appeared at the same time as the "red hat enterprise" is that a brand-new enterprise model has become popular in southern Zhejiang and the Pearl River Delta region: joint-stock cooperative enterprises.
Joint-stock cooperative enterprises were invented by Wenzhou people who are good at flexibility and good at "walking around red lights".According to records, the first joint-stock cooperative enterprise was the Ouhai Mountaineering Shoes Factory in the suburbs of Wenzhou City. It was established in May 1985 by 26 farmers who collected 72,000 yuan in shares. These farmers were both shareholders and employees of the factory. Therefore, it is called "shareholding cooperation" and is a "new type of collective economy".However, once this kind of cooperative system becomes large-scale, it cannot withstand scrutiny, because it is impossible for all the workers recruited later to become shareholders one by one.By 1988, smart Wenzhou cadres had found a more convincing property rights model.In August of this year, a small enterprise named Qiaodunmen Brewery in Cangnan County conducted a pilot project and designed the "articles of association of joint-stock cooperative enterprises". It is an indivisible public accumulation fund owned collectively by laborers” and “its independent existence is one of the important symbols that distinguish joint-stock cooperative enterprises from partnership private enterprises and as an integral part of the collective economy”.It is because of a part of public accumulation that joint-stock cooperative enterprises are naturally included in the category of collective economy.This design of corporate equity is unique in the world, and it can be said to be a bold innovation by the reformers at the grassroots level in China in the face of the forbidden zone of ownership. It is considered to be a "non-donkey and non-horse economy", but it can be justified in theory.It is also very convenient for a private enterprise to "transform" into a joint-stock cooperative enterprise: just declare that 15% of the enterprise's assets are "public accumulation of all workers".
This new type of enterprise model in Wenzhou is very popular among reformists and theorists. When private enterprises are disturbed by some ideological trends, joint-stock cooperation has become an ideal transitional model and a "safe haven". In February 1990, the Ministry of Agriculture issued Decree No. 14, promulgating the "Tentative Regulations on Farmers' Joint-Stock Cooperative Enterprises", and attached the "Model Articles of Association for Farmers' Joint-Stock Cooperative Enterprises", which is based on the articles of association of Qiaodunmen Brewery.Under the leadership of the Ministry of Agriculture, the shareholding cooperative system has been promoted in various coastal areas, and many collective enterprises have also taken the opportunity to carry out property rights reforms. Due to the different conditions in different places, the 15% "tail of public ownership" is also thick and thin, and some are only 10%. Some are as high as 50%, but in any case, the attempt of this model has reduced some people's endless liquidation of private companies, and it has also allowed companies to partially complete the clarity of asset ownership.
This is a fact that happened around 1990: for the purpose of macro-rectification and maintenance of the collective economy, the government launched a clean-up of "false collective enterprises", which indirectly gave birth to a new joint-stock cooperative enterprise model. It has evolved into the first large-scale movement to clarify corporate property rights since China's reform and opening up.Many private companies in Jiangsu, Zhejiang and the Pearl River Delta have developed for a long time as a joint-stock cooperative system. After the policy became looser, they cut off the "tail" that only existed in name by various means. restore its original property rights.
In China in 1990, with the Asian Games in September as the boundary, there was a clear divide.In the first half of the year, we went all out to rectify, and the overheated economy quickly turned into a stable one. After that, we restarted the theme of opening up and development.
The failure of the price breakthrough in 1988 and the social turmoil and economic downturn in 1989 gave Chinese policymakers new thinking on the future reform model.Radical ideas are gradually ebbing, and a gradual reform concept has become the new mainstream. In 1989, Deng Xiaoping pointed out that the overriding problem in China is the need for stability.Since then, "stability" has become a term that appears frequently, and the People's Daily wrote in an editorial on New Year's Day, "As long as it maintains stability, even if it develops steadily for decades, fundamental changes will take place in China."
"Stability overwhelms everything" and "crossing the river by feeling for the stones," and "It doesn't matter if the cat is black or white, as long as it catches mice" are Deng Xiaoping's famous reform sayings.
The governance and rectification that began in the second half of 1989 left a deep impression on the world on the Chinese government's strong regulatory capabilities.Contrary to the expectations of many international observers, the Chinese economy did not continue to slide out of control amid inflation, but quickly cooled down from overheating.In 1989, the overall national price level rose by 17.8%, and it was as high as 40% in the next year. In the words of the New York Times, "the skyrocketing price level can almost be compared with that when the Communist Party took over the country in 1949." However, to In June 1990, the price index had already dropped to 3.2%, which was far below the dangerous limit. The panic buying trend receded, and the panic in the society calmed down.
Immediately after inflation was brought under control, persistently low consumption became a new national affliction.The common people began to hold money and hesitate to buy, bank deposits soared, and all consumer goods and material markets were depressed.Since July, a new term has been frequently discussed-"market weakness".Between August and September, the inventory backlog of finished industrial products across the country increased by 21% compared with the same period last year, reaching 106.7 billion yuan, while the inventory of state-owned factories within the state budget increased by 45.9%, and the realized profit fell by 56%. There are 33 factories at a loss.
Obviously, this cooling economic situation is also terrible.As a result, "how to start the market" has become a hot topic in the national media. The "Economic Daily" even opened a column to discuss "how to deal with the coal industry when there is too much coal". .Governments around the world are beginning to plan measures to heat up the economy.General Secretary Jiang Zemin inspected Hainan and reiterated the central government's full support for Hainan's special zone opening policy, triggering a new round of "Hainan fever" in the media.
In September, the 11th Asian Games was grandly held in Beijing, which naturally became a big stage for the government to gather people's hearts and enhance the enthusiasm of the whole people.For this sports meeting, Beijing invested 2.5 billion yuan to build more than 20 large-scale sports facilities, and some investment in infrastructure projects that had been stuck before began to recover quietly.The attention of the global media and the participation of hundreds of thousands of people also brought many business opportunities to the corporate world, which has been dull for more than two years.Xinhua News Agency commented eagerly: "The Asian Games mainly brings opportunities and possibilities." The Associated Press also believes: "The Asian Games is a boon to the Beijing government. Sports once again demonstrated its ability to promote economic prosperity." At this sports meeting, the young computer industry showed its achievements. Companies such as Great Wall and Lenovo independently developed the software systems required for the sports meeting, and 90% of the computers used domestic products.However, in order to prevent accidents, the organizing committee still asked IBM to undertake the work of information backup.
In the second half of the year, all those who pay attention to China's economy will focus on Shanghai and Shenzhen. In those two cities, the capital market experiments that were interrupted due to social and economic turmoil finally came to fruition.
After the Zhongnanhai report meeting at the end of 1988, Gao Xiqing and Wang Boming set up a "Stock Exchange Research and Design Joint Office" to start the preparation of the stock exchange, but the work was soon interrupted by sudden turmoil .For nearly half a year, they have been doing nothing.Wang Boming later shared a very interesting detail: He and another colleague named Zhang Zhifang looked at each other in the office every day. One day, Zhang couldn't sit still and said, "I have something to do, let's go first." Soon, Wang Boming couldn't stay any longer, so he ran to a nearby movie theater to watch a movie. When he walked into the movie theater in the dark, he suddenly found that the person in the front seat looked familiar. When he took a closer look, it was indeed "Go ahead." Zhang Zhifang.
Wang Boming's jokes were dramatic, but it should be noted that although the actual work was stopped, planning for the stock exchange never stopped among the sober and pragmatic high-level people at the time. On December 2, 1989, the Shanghai Municipal Party Committee held a meeting in the small auditorium on Kangping Road to plan the development of Pudong. Zhu Rongji, who is also the secretary of the Shanghai Municipal Party Committee and the mayor, clearly requested to speed up the preparations for the Shanghai Stock Exchange. Officials' individual exchanges will divert bank credit funds. Policymakers worry that securities trading is a bit of a gamble, which is not conducive to the construction of spiritual civilization. Will state-owned enterprises issue stocks to individuals, which will become privatization in disguise?The cadres in charge of ideology are worried that opening an exchange will cultivate another generation of bourgeoisie in Shanghai?It was Zhu Rongji's statement that stabilized the thinking of these cadres.
Shanghai has a special passion for the capital market.China's first equity certificate appeared here in 1859. At that time, the American company Qiongji Matheson spent 100,000 Yinyang to order the rocket ship, and a Chinese businessman invested 10,000 yuan. In 1877, Li Hongzhang founded the China Merchants Steamship Bureau, and a total of 370,000 silver vehicles were invested by Zhao merchants. It was the first joint-stock enterprise in modern Chinese history.Before 1949, Shanghai had always been the largest financial city in the Far East. Many historians believe that it was its decline that made Hong Kong's glory.At the moment, as the country's largest industrial city, Shanghai accounts for 1/6 of the country's fiscal revenue every year, but it has lagged behind Guangdong in various fields of reform and opening up. Without special measures, Shanghai's revitalization will be out of the question. In February 1990, Deng Xiaoping, who made a special trip south to Shanghai for the Spring Festival, proposed to open up Pudong, and reflected that if Shanghai was added to the four special economic zones, the situation of reform and opening up in the Yangtze River Delta, the entire Yangtze River Basin, and even the whole country would be different. . On April 18, Premier Li Peng of the State Council announced that the Central Committee of the Communist Party of China and the State Council agreed to speed up the development of the Pudong area in Shanghai and implement the policy of economic and technological open zones and certain special economic zones in Pudong.The establishment of the Pudong development policy has made Shanghai once again the leader of China's economic growth, and its long-term effect is huge.From 1990 to 2004, Pudong's GDP increased from a mere 6 billion yuan to 179 billion yuan. Pudong has 1/8 of Shanghai's population and 1/10 of its land area, creating 1/4 of Shanghai's GDP and industrial output value. 1/2 of the total foreign trade exports and 1/3 of the total utilization of foreign capital is equivalent to rebuilding a Shanghai in 15 years.It has become the core area of China's finance and the most densely populated area of headquarters of multinational companies.According to the central plan in 1990, Pudong’s preferential policies will be enjoyed for 15 years. By 2005, when this deadline comes, the State Council has approved the Pudong New Area to carry out comprehensive supporting reform pilots to continue to extend and expand the pilot effect.
If the opening of Pudong is one wing of Shanghai's take-off strategy, then the establishment of the stock exchange is undoubtedly the other wing.As early as March, Zhu Rongji visited the United States, Singapore and other countries. When he arrived in Hong Kong, the last stop, he said calmly at a press conference that the Shanghai Stock Exchange would be established within this year.At this point, financial officials in Shanghai were unheard of about the timetable. In June, 35-year-old Wei Wenyuan, deputy director of the Financial Management Department of the Shanghai Branch of the People's Bank of China, was ordered to prepare for the establishment of a stock exchange.
Wei Wenyuan took office empty-handed. Ten years later, he said to his friends, "I was young at the time. If I knew the ups and downs in the future, I would not take this general manager." Guan Jinsheng, the general manager of Wanguo Securities of Treasury Securities, smiled on the other end of the phone: "I know that I will receive this call sooner or later. I just don't know who it will be." Wei Wenyuan was facing the situation at that time. There are only 3 member securities companies: Wanguo, Shenyin and Haitong, and there are only 11 relatively established joint-stock companies, and only 6 companies that are qualified for listing.Just like "three handfuls of vegetables" and "six pieces of meat", Wei Wenyuan insisted on frying them into a table dish.
On December 19, the opening ceremony of the Shanghai Stock Exchange was held in Shanghai. Zhu Rongji delivered an opening speech, and Wei Wenyuan beat the gong to open the market.According to eyewitnesses, Wei fainted on the spot after beating the gong, and was helped to leave the lively scene.Kan Zhidong, who was the general manager of Shenyin Securities at the time, recalled that on the eve before the opening of the firm, Wei Wenyuan ran around with a high fever, but when the gong rang, he couldn't hold on anymore.
On that day, 30 types of securities were listed, including 5 types of treasury bonds, 8 types of corporate bonds, 9 types of financial bonds, and 8 types of company stocks.毕竟有40年没有搞资本游戏了，所有人都手忙脚乱，第一笔交易对象是电真空股票，由海通证券抛出，未达三秒便被万国证券抢去，于是宣布无效。再次竞价，申银证券吃进，成交价365.70元。如此，三大券商在共和国证券史上的第一笔交易中都亮相了。
上海即将开市的消息，在南方的深圳引起了连锁反应。在过去的一年多里，深圳一直在向中央申请开办证券交易所，然而迟迟未得回复。尉文渊在上海一阵紧锣密鼓，让深圳人不再坐等。11月22日，深圳市委书记李灏约见深交所筹备组负责人禹国刚，问：“什么时候可以开市？”禹答，“如果你们今天拍板，我们明天就开业。”
12月1日，深圳交易所抢在上海之前“试开市”。由于当时还没有得到中央政府的正式批文，深圳就没有像上海那样大张旗鼓，直接催生者李灏没有出现在开市仪式上，而是委派了深圳市资本市场领导小组的副组长董国良出席。由于仓促抢跑，深市在交易工具上也没有跟拥有电脑交易系统的沪市相比，股市第一天成交安达股票8000股，采用的是最原始的口头唱报和白板竞价的手工方式。深交所的正式批文要到1991年7月下达，当月3日，全国人大常委会副委员长陈慕华、李灏等人都热热闹闹地出席了“开业仪式”，用禹国刚日后的话说，“孩子生出来了，还能再按回娘肚子里不成？”
不过，无论股市的过程是怎样的幼稚忙乱，中国的资本市场却在1990年底形成了自己的“双市格局”。以这两个交易所为中心，中国公司将演出一轮又一轮的商业大戏。
正如运动员赛跑，最容易在拐弯处比出高下，中国众多公司的此起彼伏，也每每是在周期性的宏观调控中变幻着各自的命运。开始于1989年初的治理整顿，让无数企业倍感压力，也让那些有远见和能力的企业获得了快速成长、超越同类的机会。
在经历了早期求大于供、粗放经营的阶段后，一些国有企业家开始把注意力放到质量的提升和新技术的开开发上。在青岛，靠率先引进日本生产线、在“冰箱热”中赚到钱的张瑞敏比他的同行们更有市场眼光。他在福建跑市场时发现了一个怪现象，到了夏天，人们洗衣服洗得特别勤，洗衣机反而卖不动。很快他找到了原因，当时市场只有容量4公斤、5公斤的洗衣机，夏季每天要洗的衬衣、袜子，用大洗衣机又费水又费电，不如用手洗方便。其实并不是夏天人们不需要洗衣机，而是没有适合的小洗衣机。于是，海尔的工程师们马上研制了“小小神童”洗衣机，洗衣容量为1.5公斤，3个水位，最低水位可以洗两双袜子。这种洗衣机投入市场后立刻就供不应求。秋天，张瑞敏从北京领回了“国家质量管理奖”，他还送了四台冰箱到德国参加样品展示会，并提出“三个1/3”的企业发展战略目标，即季后海尔冰箱将在“国内生产国内销售1/3，国内生产海外销售1/3，海外生产海外销售1/3”。在这个稍显粗糙的规划中，人们已经可以看到中国成为“全球性制造基地”的雏形。
北京联想的柳传志获得了第二届全国科技实业家创业奖金奖，联想成为继四通（这家公司的创始人万润南在上一年出逃国外）之后最大的电脑销售商，开始自主生产，销售微机板卡。公司办公室主任郭为想出了一句牛气十足的广告词：“如果没有联想，世界将会怎样？”这则广告从下一年起投放，立即风靡全国。
在偏远的四处绵阳，一家名叫长虹机器厂的军工企业突然跃升为全国最大的彩电制造企业。它在1980年率先转型，与日本松下合作，成为国内首批引进生产线批量投产彩电的企业。就在彩电炙手可热的1988年，厂长倪润峰又研制出第一台立式遥控机型，他还组织了200多名推销员“上山下乡找市场”，一番拳打脚踢之后，，长虹成为全国首批45家国家一级企业之一，而且是西部唯一的一家。
无论是海尔、联想还是长虹，1988年之前的国营企业序列中都是寂寂无名之辈，也没有得到国家政策的特殊倾斜，然而它们都因为有一位杰出的领导者，并且在各自的行业中率先完成了技术改造和管理提升，因而在市场竞争中站住了脚跟，得以迅速地脱颖而出，相继成为新一代国营企业的翘楚。而那些试图寻找政策保护，甚至期望通过治理整顿“净化”行业秩序的老牌大型公司则不可避免地持续沉沦，最终成为时代的落伍者。
麦当劳匆匆地在深圳开出它在中国大陆的第一家快餐店，这已经是它在中国大陆的第一家快餐店，这已经是1990年的10月8日。
刚刚参加完高考的深圳女孩邱洁云是第一批参加面试的服务员，她说：“我本来以为应聘服务员，顶多是擦擦桌子，没有想到第一天就被分配去洗厕所。我当时觉得很委屈，一边洗厕所一边掉眼泪。”她后来当上了这家深圳店的经理。麦当劳匆忙开店，是因为它实在无法忍受一个事实：比它早进来三年的肯德基早已赚得钵满盆满了。《纽约时报》在报道中羡慕地说，“每天一到吃午饭的时候，北京三家肯德基炸鸡店就门庭若市，排队的人里三层外三层，两块炸鸡、一点土豆泥，一点卷心菜沙拉和一块面包就要8.5元。天安门附近的分店创下肯德基单店最高销售记录，它是世界上规模最大、盈利最好的连锁店。”
那些早早来到中国的外国品牌都尝到了甜头。最早来到中国的法国服装品牌皮尔·卡丹开在北京的一家专卖店每天就有2.3万元的销售额，一件不起眼的服装标价就高达1500元。9月，皮尔·卡丹本人又来了一次北京，他被特许在以前的皇宫紫禁城里举办了一场热闹的时装秀，在过去的几百年里，这是破天荒的第一次。这位很有商业头脑的时装大师还同时代理了奥迪、瓦伦蒂诺等意大利品牌在中国的销售权。香港《文汇报》撰文《洋货狂袭中国》，它从吃穿住行用等方面分析洋货对国货以及消费者观念的冲击，作者惊呼：“任凭洋货长驱直入，充斥市场，其严重后果令人不寒而栗。”在这样的言论背后，人们似乎已经看到，在不久的将来，必定会有一次国货振兴的运动。
那一年，几乎所有向往时尚生活的中国消费者都知道在深圳有一条“中英街”，那里可以买到最便宜的洋货。这是一条长约205米，宽不足4米的小街，位于深圳与香港交界的沙头角。从1979年开始，这里就成为一条特许的免税街，内地的游客宛如长龙，人们领了“特许证”后立刻挤进小街，先是站在标有“中英地界·光绪二十四年”字样的石质界碑前拍照留影，好奇地眺望一眼近在咫尺却无比神秘的香港岛，然后就冲进300多家小店铺里疯狂抢购各种时髦的小商品。一位叫刘福来的店主后来回忆说：“那时候早上从开门一直到落闸，生意都很好，大陆的观光客对这边的东西不论什么都感兴趣，录像机、照相机、金首饰、一份，甚至连力士香皂都抢着买，基本上不说价。”一直到1997年香港回归前后，“去中英街购物”是无数内地消费者最向往的购物行为之一，这里每天有超过1万人次的游客，节假日和高峰期游客数量超过10万人次，一年游人量达1500万以上，成为全国知名度极高，也最奇特的购物观光地。
在中国，曾经让人们无限憧憬的1990年，就这样出乎预料地展露出全民商业化的面貌，它跟1978年刚刚开始改革时的向往实在有太大的出入。人们变得越来越实际，如何尽快地改变自己的生活状态，如何发财致富享受生活，成为一个公开而荣耀的话题，几年前还被视为靡靡之音而遭到禁止的台湾歌手邓丽君，现在成了最受欢迎的流行偶像，台湾女作家琼瑶的言情小说和香港作家金庸的武侠小说，成为大中学生们最喜欢的文学作品，他们的盗版图书摆满了全国所有城市的大小书摊。还有一个叫汪国真的青年诗人以一本轻佻而快乐的《年轻的风》狂销100万册，创下有新诗以来的出版纪录，他最出名的诗歌是《我微笑着走向生活》。也许，他真的说到了人们的心坎里。