Chapter 45 1999 Banker "Flower of Evil"

In 1999, a centuries-old century with mixed feelings finally came to its "end".People remember the prediction made by a French doctor named Nostradamus more than 400 years ago, "In July 1999, the sun, moon and nine planets in the sky will form a "cross" shape. Falling from the sky, the Mongol King reappears, and the God of War dominates the world in the name of happiness..." Obviously, this terrifying scene will not appear. This year marks the 50th anniversary of the founding of New China.The US "Fortune" magazine very astutely announced that it will hold the annual "Fortune" annual meeting in Shanghai, China.The time was at the end of September before the National Day Ceremony. This was the first time that a well-known international media organization chose to hold a global annual meeting in China. Its theme was very in line with people's imagination - "Let the world know China, let China know the world".General Secretary Jiang Zemin has confirmed to attend the meeting at that time.

From a macroeconomic perspective, China's performance is also full of expectations.Countries in Southeast Asia have not yet woken up from the dizziness of the financial turmoil. The Russian economy is in crisis again, and Brazil in South America is also facing a serious financial crisis.Among all developing countries, China can be described as "outstanding".The measures to stimulate the economy launched last year have gradually taken effect, the consumer market has become active again, the recovery of the real estate market has gradually shown its pulling effect on various industries, and a new round of high-speed economic growth cycle has arrived.

No one thought that the eruption of prosperity started from the stock market. Wednesday, May 19.On an ordinary day that does not seem to have any news, the Chinese stock market has been depressed for more than 700 days.And 11 days ago, a U.S. missile "mistakenly bombed" the Chinese embassy in Yugoslavia, which triggered an astonishing diplomatic incident, and Sino-U.S. relations fell to a freezing point again. On March 24, 1999, NATO led by the United States carried out bombing of the Yugoslav Federation for 78 days without the authorization of the UN Security Council, dispatching more than 26,000 sorties. In the early hours of May 8 (11:45 p.m. Belgrade time on the 7th, 5:45 a.m. Beijing time on the 8th), five Tomahawk cruise missiles attacked the Chinese embassy in Yugoslavia, killing three journalists. More than two dozen diplomatic personnel were injured.On this day, the Shanghai and Shenzhen stock markets quietly rose 51 points and 129 points respectively, closing at 1109 points and 2662 points.Leading the rise are stocks with network concepts, such as Oriental Pearl TV, SVA, Shensangda, etc.This yang line rising from the flat ground started suddenly and then sharply, and it lasted for 32 days.During this period, the central bank announced interest rate cuts, and the Securities Law came into effect. The People’s Daily, which has always been prudent, published an article by a special commentator, asking everyone to “strengthen confidence, standardize development, and cherish the great situation in the stock market.”With the sound of gongs and drums in Xiangyang, the Shanghai Composite Index rushed to 1,700 points in less than two months, an increase of more than 50%. The "5.19 market" has been formed since then.This wave of market will last for two years, reaching the highest point of 2245.44 points on June 14, 2001, and then turned around and fell sharply, entering a 4-year bear market journey.

The capital market has always been a "barometer" of the macro economy, but in China, this "barometer" is often projected in a distorted and weird distorting mirror.In the "5.19" market", several unforgettable big dealers emerged. Luliang seems to be the first banker to "predict" the big market. Some people should still remember that this name once appeared in the "Shenzhen subscription certificate incident" in 1992.At that time, his name was Lu Jianxin, and he was a curious and diligent literary youth. He wrote a long documentary report on that incident, "Millions of Shareholders "Fried" Shenzhen", which was the most vivid description of the Shenzhen incident in China at that time.It was also in that stockholder riot that Luliang was baptized by the stock market.He became a frequent visitor to the Shenzhen Stock Exchange, and his attention never left.Living in Shenzhen made Lu Liang very excited every day, but he didn't make much money. Soon after, he returned to Beijing, followed several big retail investors to speculate in stocks, and also kept writing stock market commentary articles.It seems that his luck in making money is not very good. At the beginning, he made millions of yuan, and then he switched to futures, and ended up investing in futures. After playing for two years, he owed tens of millions of yuan in debt.

However, he showed superhuman talent in stock commentary. His early literary creation helped him a lot. In the stock market commentary with poor writing and superficial ideas, he can always attract people's attention with passionate and speculative words.He saw through the gloom of China's stock market very early. He once wrote, "Due to the generally poor quality of listed companies, it is impossible for investors to choose stocks with real value, which brings a lot of room for market operations. In a sense, the Chinese stock market is a 'story club'." Many of his views are recognized by many people in the securities investment circle, and he has gradually won a lot of fame in this circle. Since 1996, Luliang simply set up a Mr. K studio, writing stock reviews under the pseudonym of Mr. K, and guiding people to speculate in stocks.As for why he chose such a strange name, he has two explanations: first, the stock market chart is also called the K-line chart; second, K is the first letter of "KING", implying that he is the "king of stock reviews". .Immersed in this "story club" for many years, he has been waiting for an opportunity to show his talents.

In the autumn of 1998, Mr. K Luliang finally met the person he was "destined" to meet.A large stock market retail investor named Zhu Huanliang came to Lu Liang for help.This is a "rough man" who drove a large loading and unloading truck on a construction site in his early years. He made a lot of money by flipping stocks a few years ago, and became one of the earliest billionaires in the Shanghai and Shenzhen stock markets. Around 1996, he took a fancy to a stock in Shenzhen called Kangdaer (stock code 0048).It was originally a chicken farming company in Bao'an District, Shenzhen. Most of the live chicken market in Hong Kong is supplied by it. Its business is stable and its profits are acceptable.Zhu Dahu quietly bought the shares of Kangdaer in the secondary market. After half a year, he actually hoarded tens of millions of shares, accounting for 90% of Kangdaer’s circulation. Zhu Dahu spent 200 million yuan for this, most of which were his A small half of his property was borrowed at high interest rates.Just when Zhu Dahu wanted to roll up his sleeves and speculate on Condal, in 1997, Hong Kong was suddenly hit by "bird flu", and the whole island killed chickens and banned chickens, which paralyzed the entire business of Condal.Its stock price naturally also took a slide, falling from the highest of 15.40 yuan a share to more than 7 yuan, a drop of more than 50%.Zhu Dahu's 200 million yuan was completely trapped in it and could not move.He told people in frustration, "In 1997, apart from the chickens that were killed, I was probably the most unfortunate person in Shenzhen."

Two heavily indebted people and a "plague chicken stock" came together like this. Lu Liang agreed to join hands with Zhu Huanliang to join the bank. Relying on his reputation in the stock market and a 15% financing intermediary fee, he raised 400 million within three months.Then he began to speculate on Kangdal by himself. A trader named Pang Bo later described, "Lvliang's orders were very detailed, from the opening price in the morning to how much money to close the position in the mid-market, and at which companies How much is the sales department liquidating. In order to operate concealedly, the liquidation should not be too fast or too slow. When pulling up, pay attention to the daily increase of no more than 7%-8%, and keep the graphics looking good, lest others will find out, so that the stock will go up. " At the same time, Lu Liang frequently published articles in the newspapers, singing loudly for the recovery of the stock market, and by the way desperately promoting Kangdaer who had completed a "major reorganization".At such a moment, the stock market, which has been paralyzed like a sloth bear for the past two years, really suddenly rose. The "5.19" market made Luliang's reputation as "China's first stock critic" reach its peak.

In a capital market where everything is so weak and gray, people are too much in need of a prophet who will allow multiple parties to win, and they are willing to believe in such a prophet.With the cover of the soaring general trend, Luliang's actions to boost the stock price of Condal became unscrupulous, and the stock price rose all the way, from more than 7 yuan when he took over, to 40 yuan in July.By the end of the year, Kangdaer ranked 17th among the top 20 stocks with the largest increase in the Shenzhen Stock Exchange, with an annual increase of 111%, completely showing the image of a high-tech bull stock. In December, with the approval of Shenzhen Industrial and Commercial Bureau, Kangdaer changed its name to Zhongke Entrepreneurship.

In order to manipulate the stock price and play a bigger game, Lu Liang has successively reached financing relationships with 120 securities business departments in more than 20 provinces and cities in China. Ke looked around for money, and successively raised an astonishing 5.4 billion yuan.In this way, a huge evil chain of interests has formed around Zhongke's entrepreneurship.Later Lu Liang admitted, "If those financing agreements are brought out, even the lawyers who witnessed and signed them will go to prison."These people are knowledgeable and proficient in legal provisions. They all look respectable and can be called the elites in this commercial society. However, under the temptation of huge interests, all of them have given up their bottom line of professional ethics.How much Luliang people played with the stock price to the extent they wanted, the following story can be used as a footnote: On February 18, 2000, Luliang was newly married.The day before, he had joked to one of his best traders, "Can you give me something special?" The man had smiled knowingly. On the 18th, the closing price of Zhongke Venture just stopped at 72.88 yuan.The magical trader uses his own way to give the boss a gift that seems unbelievable to others.Luliang people played with the stock price to the point of how they wanted.In this sense, Luliang's success is a disgrace to China's financial circles.

If Luliang is the "upstart" that emerged this year, then Tang Wanxin, who came from Xinjiang, is an even more prominent "specimen".Interestingly, Tang Wanxin made his fortune in the "subscription certificate incident" seven years ago.At that time, at the age of 28, he spent money to invite 5,000 people to take the train from Urumqi to Shenzhen to queue up to receive the subscription lottery form. Each of these people had a small wooden stool, and they queued up to receive 50 yuan labor fee a day, and the line lasted for 3 days. Tang Wanxin made a lot of money by replacing the watch with original stock.Since then, Tang Wanxin has become obsessed with the stock market with the "fastest money coming in".He, his eldest brother Tang Wanli and others registered and established Xinjiang Delong Industrial Company, which specializes in stock operations in the capital market.They bought a large number of original shares and internal employee shares of state-owned enterprises in Xinjiang, Shaanxi and other northwestern provinces, and either resold them to financial institutions in Xinjiang, or waited until they were listed and sold them for cash.Once, they bought 10 million legal person shares of "Northwest Bearing" at a price of 10 million yuan, and made a net profit of 30 million yuan a few months later.

If it is said that stock reselling gave Tang Wanxin a glimpse of the palace of the capital market, then his testing of the treasury bond market allowed Delong to complete primitive accumulation in the true sense.Beginning in the early 1990s, the Ministry of Finance introduced the underwriting and underwriting policy for treasury bonds. In quite a few years, most of the treasury bonds were underwritten by dozens of securities intermediaries.Over the years, an unofficial treasury bond circulation market gradually formed, and the treasury bond over-the-counter exchange in Wuhan was the largest and most active trading platform at that time. In 1994, Tang Wanxin successively raised 300 million yuan in violation of regulations through the repurchase business of treasury bonds.It was a crazy age, and being good at discovery and boldness made a generation get rich quickly. Unlike those mole-like dealers, the young Tang Wanxin has his own business ideals.In his view, the global industrial structure is undergoing a huge evolution, and China is undoubtedly the most important part of it. There are opportunities for rapid expansion in many traditional industries, but due to backward systems and concepts, the majority of Chinese enterprises .The mold is small, the investment is scattered, and there is no competitiveness.Therefore, through the way of capital management, optimizing and integrating them and revitalizing the stock will be the hope for the Chinese-style economic take-off.Tang Wanxin's philosophy was very similar to that of Mou Zhong of the SUD Group, which was 24 years his senior. At that time, he was favored by many economists, who considered it the "highest state" of capital management.Unlike Senior Mou, who was only good at boasting, Tang Wanxin really made a bold attempt.Tang Wanxin is the most famous "capital management master" after Mou Qi in the history of this enterprise.Not only are the two quite alike in terms of strategic concepts, but they also have several striking similarities in other aspects: their ancestral home is both from Wanxian County, Chongqing; Convicted and imprisoned in the local jail. Tang Wanxin's first step is to acquire companies.The share split system criticized by Zhang Weiying and Liang Dingbang has provided a fertile "soil" for the gray operation of the dealers.Since all state-owned listed companies hold some legal person shares that are not in circulation, the cost of acquiring them is far lower than absorbing bit by bit from shareholders in the secondary market.Therefore, countless market makers have targeted the state-owned assets authorities of listed companies in various places and purchased legal person shares from them. Such transaction costs are naturally low and will not be subject to any supervision.In a sense, it is the unique shareholding structure of the Chinese stock market that gives space to speculators.Tang Wanxin has successively become the largest shareholder of three listed companies in Xinjiang Tunhe, Shenyang Alloy and Hunan Torch by purchasing legal person shares, forming the so-called "troika" of the Delong family. Tang Wanxin's second step is to implement a strategic reorganization of these three established state-owned enterprises according to his own business philosophy.From the outside, this restructuring seems very grand and fascinating.Take Hunan Torch as an example. This company was originally an old company producing "spark plugs". Tang Wanxin proposed the "big auto parts" strategy. First, he acquired MAT, the largest brake system importer in the United States, and 75% of its nine joint ventures in China. Equity, thus obtaining a certain share of the U.S. auto parts import market, and then controlling an auto gear company in Shaanxi, becoming a professional domestic leading company in the industry.Immediately afterwards, Hunan Torch issued announcements one after another, and various reorganizations and joint ventures occurred with Dongfeng Motor, Shaanxi Automobile Group, and Sinotruk Group.By 2004, Torch Hunan had more than 50 subsidiaries, and became the largest enterprise in the three industries of gears, spark plugs and military off-road vehicles in China. It was also the second largest manufacturer of air-conditioning compressors and the largest exporter of automobile brake systems, etc. .Tunhe, Xinjiang was originally a cement factory under the Xinjiang Construction Corps. Tang Wanxin transformed it into a "red industry". He successively acquired and built nine tomato paste processing plants, becoming one of the world's second largest tomato paste manufacturers.Shenyang Alloy was originally a professional manufacturer of nickel alloys, with an annual sales revenue of only 40 million yuan. After Delong took over, he successively acquired many electric tool manufacturers in Suzhou, Shanghai, Shaanxi and other places, making it the largest in the country. professional manufacturer and exporter.Tang Wanxin thinks very highly of his integration concept, and considers it to be the "No. 1 in the world" corporate strategy.Some economists also appreciated it. Zhong Pengrong, an economist who had close contact with the Tang brothers, believed that "so far, few private entrepreneurs in China can achieve their heights." To complete this series of mergers and acquisitions, Deron needs a lot of money. Where will the money come from?Then rely on speculation.Delong's management skills are actually very simple. Tang Wanxin raised the stock price step by step by constantly releasing good news and integrating and reorganizing concepts, and then turned his hands to make profits.Since 1996, the "Troika" under Delong has spread its hoofs, and the stock price has risen day by day. When the "5.19 market" comes, the Delong series is "relying on the strength of the good wind. Send me to Qingyun" , ran all the way in the Chinese stock market, setting a record of soaring soaring that made tens of millions of stockholders stare.By March 2001, people saw the fact that Hunan Torch had undergone three share transfers, and 1 share became 4.7 shares. After the restoration of rights, the stock price per share rose from 7.6 yuan to 85 yuan, an increase of 1100%; After 4 times of allotment of shares, the stock price after reinstatement rose from 12 yuan per share to 186 yuan, an increase of 1500%. Xinjiang Tunhe also distributed shares several times, and the stock price after reinstatement was 127 yuan per share, an increase of 1100%.The three stocks controlled by a banker all soared by more than 10 times within 5 years. The whole country looked forward to it, and there was no one else. Delong thus created the famous name of "the world's first banker".For quite a long time, "Stocks are not good, if they are virtuous, they will be famous, if they are not afraid of high prices, if they are prosperous, they will be effective", which has almost become the only way for Chinese stock investors to make money.According to the calculation of Lang Xianping, a Hong Kong professor who is proficient in financial analysis, by March 2001, the Delong banker had made a total profit of 5.2 billion yuan from this activity. The biggest loophole in the business logic of Down's strategy is that the profitability of traditional industries cannot explode in the short term, and its ability to feed back the financial sector is very weak. In the year with the best benefits, the net profit of the "troika" The sum is only 240 million yuan, which is far from being a "miracle of benefits."Therefore, the performance of industrial consolidation cannot support the capital flow required for financial expansion.In order to maintain the stock price of the Delong Department at a high level, Tang Wanxin had to build an expensive and secret financing platform. On the one hand, he kept issuing dazzling merger announcements in the capital market and exaggerating the performance of industrial integration as a means of hype to stabilize and raise stock prices. On the other hand, Delong founded and controlled a number of trust financial institutions At the same time, in banking, securities, financial leasing, insurance, funds and other fields, through various legal or illegal ways to carry out entrusted wealth management business.Subsequent investigations showed that Delong raised a total of 25 billion yuan through these means.This gray and irregular mode of operation has gradually transformed Delong into a financial monster of an astonishing scale and extremely dangerous.According to calculations, Delong needs 1 billion yuan to maintain a high stock price every year, and 3 billion yuan to pay interest for financing. That is to say, at least 4 billion yuan of funds can guarantee the annual normal operation of the Delong Department.This is a chilling figure, and its high financing cost made this game doomed to a fiasco from the very beginning. In order to find funds, Deron has almost reached the point of doing his best.Under Tang Wanxin's deployment, Delong took 1,872 companies with annual sales revenue of more than 50 million yuan nationwide as key customers, and distributed them to many securities and financial institutions under its jurisdiction according to the region, and developed them in the form of carpet search.When an enterprise needs a comprehensive financial service, banks, trust companies, securities companies, leasing companies, and insurance companies that have business agency or equity ties with Delong will come to the door respectively, in the name of different financial institutions. It is a collaborative way to develop services.They sign contracts with companies in the name of entrusted financial management. There are two such contracts, one for inspection by the regulatory authorities, and a "supplementary contract" indicating the guaranteed bottom line promised by Delong, which is confidential.Generally speaking, the minimum guaranteed return provided by Delong is 3%-12%. Later, with the tight capital chain, it rose to 18% at the highest point.For "work convenience", Delong also specially designed a "Financial Product Manual", which is loose-leaf, "Which financial company needs to be used, and which financial service the other party needs, we can replace it at any time." In this way, Tang Wanxin embarked on an extremely dangerous road of no return.This is a brave gambler. Confucius' so-called "violent tiger Feng He, who dies without regret" refers to such a person.He has a self-created motto: "Anyone who gambles with our lives must be the most exciting." He has no hobbies but hunting. He often drives a Toyota off-road vehicle and hunts all over Xinjiang. The more ferocious the prey, the more inexplicably excited he is. He has a farm in Yumin County, Xinjiang. Deron's "true lies" would not be exposed until five years later, and it seemed so radiant in the stock market mania of 1999. In August, Delong announced that he had purchased the flagship of the former Soviet Union's Pacific Fleet, the recently decommissioned aircraft carrier Minsk, for US$10 million, and brought it to Guangzhou for closed large-scale repairs and transformations.It was moored in Shatoujiao, Dapeng Bay, Shenzhen, and became the world's first theme park with an aircraft carrier as its main body.This news was a sensation, and since then, Delong has regarded itself as the "aircraft carrier" of Chinese private enterprises, and it announced that it will "become a world-wide company and enter the world's top 500" within five years. In China's capital market, the "evil flower" of bankers is a product of the system. First of all, those state-owned enterprises that are weak in quality and listed because of "overcoming difficulties" are the first factor for the survival of market makers.These companies fell into trouble again shortly after they went public, so they became "shell resources" - "meat on the chopping board".Secondly, the existence of non-tradable shares allows market makers to easily control those companies with very cheap and gray means.Furthermore, the immaturity of the regulatory mechanism makes all the lawless hypes fly in the sky.For quite a long time, the most popular term in China's stock market has been "theme". As long as you dare to imagine and act boldly, you may achieve a "career".In such an age of indulgence, the temptation of money and the magnification effect of capital have made countless people willingly give up all the rules, and the Chinese stock market has become the barbaric place with the most moral bottom line.According to the research of Professor Liu Zunyi of Stanford University, around 1999 and 2000, the annual turnover rate of stocks in the Chinese stock market reached 400%, and the average holding time was only about 3 months. The rate is 86%, and the average holding time is 1.2 years. The annual turnover rate of stocks on the Singapore Stock Exchange is 30.2%, and the average holding time is 3 years.The strong speculative color of the capital market directly distorts the behavior of listed companies, which makes the financing function of China's stock market extremely shrink, and basically loses the possibility of industrial companies using it to grow. In the stock market in 1999, there were still a few intellectuals who were born as intellectuals and were extremely intelligent young market makers. The "ferocity of animals" they showed was unforgettable. In the stock market this year, the stock price of Chengcheng Culture, known as "China's No. 1 cultural concept stock", has skyrocketed, and its head is Liu Bo, who is known as a "child prodigy". Liu Bo Zaohui, born in 1964, was admitted to the Chinese Department of Wuhan University at the age of 14. Four years later, he entered the Hunan Academy of Traditional Chinese Medicine and obtained a master's degree. Later, he became a doctoral student in the Philosophy Department of Peking University, where he studied Eastern philosophy under the tutelage of the famous cultural master Ji Xianlin.After that, he started his career as a Confucian businessman.Liu Bo likes to wear double-breasted blue shirts on weekdays, and "never wears leather shoes when he can wear cloth shoes." His president's office is full of books, and the room is elegant.He also rented a courtyard in Beijing for a long time, which is said to be the former residence of Zhang Zuolin, a warlord in the Northeast.In many newspapers, he is regarded as a model figure of "New Confucian businessmen". Liu Bo's first pot of gold was related to culture - he planned and published 123 volumes of "Books Handed Down".This set of books was edited by his mentor and master of Chinese studies Ji Xianlin. It is said that the book has more than 30,000 volumes, 276 million words, and a cumulative thickness of more than ten meters. "It brings together thousands of senior experts and scholars at home and abroad. years to complete."Liu Bo founded Chengcheng Culture Company, and it is said that a total of 10,000 sets were printed, and the market price was as high as 68,000 yuan per set. This suddenly added hundreds of millions of yuan to Chengcheng's "asset evaluation value".Liu Bo also transferred the "publishing agency sales fee" of "Handed down Books" to China Construction Bank, and the subscribers paid the money to China Construction Bank, and Ping An Insurance and Pacific Insurance provided guarantees.From this point of view, even if the book did not sell a set, the bank paid the bill for him, so Chengcheng Culture's book profit was very considerable.In this way, relying on the "Treasure of Zhenshan Mountain" "Collected Books Handed Down", Chengcheng Culture has made self-hype in the stock market, which is very beautiful. In December 1999, under the background of the booming stock market, it issued three "major investment reorganization" announcements: first, it drew a golden "big cake", and Chengcheng and Hunan University jointly established "Yuelu Academy" Culture and Education Industry (Group) Co., Ltd.", invested in the construction of "Millennium University Forum", "Publishing and Distribution Center", "Student Apartment City", "Hunan University Experimental School" and other projects.It is said that after the completion of these projects, Chengcheng Culture will become the largest education investment company in China; the second is to play with the new concept of e-commerce. The Internet industry announced that it would build "the world's largest Chinese online bookstore" and become China's Amazon; Time Magazine's Person of the Year, the fourth youngest person in history to be elected.The third is "self-defeating and self-buying", creating tens of millions of profits out of thin air. Chengcheng Culture announced that it will use the equity of a wholly-owned subsidiary "Changyin Culture and Entertainment Company" to cooperate with the largest shareholder Hainan Chengcheng Enterprise Group Co., Ltd. "Collected Books Handed down" carried out asset replacement, resulting in an "investment income" of 16 million yuan.Liu Bo's practice of "drawing cakes to make profits" is too blatant, which has aroused ridicule and criticism from the industry, but this does not prevent Chengcheng Culture's shares from repeatedly raising their limits. Surprisingly similar to Liu Bo, Song Chaodi, who is three years older than him, also relied on a book to conquer the world.Song Chaodi is also a high-achieving student who studied hard. He studied as an undergraduate at the Department of Modern Physics of the University of Science and Technology of China, and as a graduate student was admitted to the famous Tsinghua University majoring in laser physics. In 1991, Song Chaodi founded Kelihua Computer Co., Ltd., which specializes in educational software in a corner outside the west gate of Tsinghua University.In the same year, the "CSC Principal's Office System" was launched.Brother Song Chao is talented and intelligent, and has strong professional ability. He is the first person to sell software by selling health care products. In 1994, Kelihua held a 10,000-person test event in the Beijing Military Museum, which was a sensation, and Song Chaodi was named as one of the "Top Ten People of the Computer Industry in China" in 1994. In January 1997, Kelihua was praised as one of the "decisive forces" in the Chinese software market by the American "Business Weekly".Song Chaodi, who studied physics, claimed to be a "new Confucian businessman with a background in scientific and technological intellectuals". He proposed the "quantum theory" and the "Great Leap Forward Theory".These two theories believe that any market cannot be developed step by step, but can be jumped. "In the information age, we can no longer be limited to the thinking mode of Newtonian mechanics - because A, so B, we should learn to use quantum thinking to create miracles." In January 1999, Song Chaodi made a good "jump" with his quantum thinking.He suddenly started selling a foreign edition of "The Learning Revolution". He announced: "The era of learning has arrived! We are determined to let 10 million people in China read "The Learning Revolution" and let 10 million people realize I have problems with my concepts and methods!" Kelihua announced that he will invest 100 million yuan in advertising in a rolling manner within 100 days.For this reason, he also invited the famous director Xie Jin to be the spokesperson of CCTV, and asked Xie Xide, the president of Fudan University and scientist, to make a preface to recommend it.At that time, almost no one could understand this crazy book-selling campaign, and a surge of public opinion pushed Ke Lihua and Song Chaodi into the spotlight of the news.Afterwards, it turned out that while the whole country was mad, Song Chaodi, the initiator, might be the most sober one, because while selling books, he completed two major commercial tasks. One is following the wave of "learning", he sold Kelihua's learning software and principal's office system to primary schools, middle schools and universities all over China.The second is more secretive. Before the promotion of "Learning Revolution", Kelihua has been continuously attracting money from Acheng Steel, a "junk stock" in the Shanghai stock market (stock code 600799).With the frantic hype of "Learning Revolution" and the launch of CCTV advertisements, the news about Kelihua's upcoming acquisition of Acheng Iron and Steel was clamoring in the stock market. 3 times.Song Chaodi succeeded in one hit in the highly speculative Chinese stock market.He proudly admitted to the media in the future, "Selling "Learning Revolution" is a key step in the acquisition strategy." In 2000, among the 50 richest people in mainland China by "Forbes", Song Chaodi ranked tenth and number one in the IT industry . Although Liu and Song, who have high IQs, have played karate games beautifully, they are still not the biggest "high-tech players" in 1999 compared with Song Ruhua, a farm boy from Shaoxing who is similar in age to them. Song Ruhua was born in a small mountain village in Shaoxing County, Zhejiang Province in 1962. His family was poor and his mother died at the age of 7. He had never seen an airplane before he was admitted to university.When he was studying in university, he set himself an "eight no's principle": "One, don't go abroad, two, don't do business, three, don't smoke, fourth, don't drink alcohol, fifth, don't sing, sixth, don't dance, seven, don't watch movies, eight don't Go to the park."Relying on his hard work, he stayed at the school to teach after graduating with excellent grades. Because of his serious teaching, he was promoted to associate professor exceptionally, and was awarded the only "Special Prize for Youth Teaching and Educating by the Ministry of Mechanical and Electrical Engineering" in the whole school. In 1992, inspired by Deng Xiaoping’s talk in the south, Song Ruhua set up Top Electronic Technology Development Company. Top’s English name is TOP, which means “peak, top, excellence”.Song Ruhua said to his companions, "We want to be the best, and our goal is Bill Gates." When he first started doing business, Song Ruhua used to ride a tricycle around Chengdu to resell computers, so he later proudly said, "I am the only university professor in China who has ridden a tricycle." Four years later, he made money selling tax software. A lot of money. In the autumn of 1996, he participated in the Indian study tour organized by the Ministry of Science and Technology.In Bangalore, the "Silicon Valley of South Asia", he saw the clustering and rise of a large number of software companies.After returning to China, he said to his colleagues, "We want to build a western software park." He first ran to Hongguang Town, Pi County, near Chengdu. This place was famous throughout the country during the "Great Leap Forward". Personal inspections became a model of national learning for a while. In March 1997, Song Ruhua selected a 100-acre cauliflower field here, and erected a large wooden signboard of "Western Software Park".In this way, nearly 40 years later, "Master of Shaoxing" Song Ruhua released another "David Satellite" in Hongguang Town.Perhaps even Song Ruhua himself did not expect that his "satellite" would have such a dazzling light.Just after Top held a small press conference, warm applause came from all directions.At that time, all provinces and cities across the country were setting off an (prohibited) informatization construction.At the beginning of the year, Sichuan Province listed the information industry as the "primary industry" for key development, but there are few projects in the cities and counties.As soon as Song Ruhua's "Western Software Park" was announced, it immediately caught people's eyes—the cluster of software companies, the development concept of industrialization, and the promotion of the concept of "Western"—where can we find a more exciting and grand concept?The local government immediately smelled the "smell of political achievement" in it, and it would be hard on itself not to support Top.And the ministries and commissions of the central government have also shown unprecedented enthusiasm. In the western region where the overall economic development lags behind and has always been ignored, a "model of intensive development of the information industry" suddenly appeared. There is no reason not to support it.Just two months after Song Ruhua erected the wooden sign in the cauliflower field, the Western Software Park was listed as one of the four "first batch of national Torch Program software industry bases" in the country. Almost overnight, Toppo became the most resounding high-tech enterprise in western China, and various supporting policies, preferential tax policies and social honors followed one after another.A "Western Software Park" that is still in the air made Song Ruhua suddenly enlightened. He suddenly discovered that the rules of the Chinese business game are really amazing. Sometimes, you have worked hard to make a product, it is better to call out a new concept one night , the gathering and dispersal of wealth often follow the swings of the general trend.He realized that the pendulum of wealth had swung in front of him, and if he didn't reach out in time at this time, he would regret it for the rest of his life.He quoted to his companions a sentence from the global bestseller "The Pursuit of Excellence" by American management scientist Tom Peters, saying, "If you don't believe that we are starting a big era, you must be an idiot." In order to support Top, the governor of Sichuan Province personally connected and gave Song Ruhua a listed company in Zigong City, Sichuan Changzheng Machine Tool Co., Ltd., which was in trouble shortly after its listing, as a "shell resource".Like many state-owned listed companies at that time, Chuanchangzheng reported a loss just over a year after its listing in 1995, and its equity per share dropped from 0.26 yuan at the time of listing to 0.01 yuan.Song Ruhua interpreted the acquisition of the Sichuan Long March into a (prohibited) capital drama full of bloody breath.It was identified as the first case of "backdoor listing" of a private technology company in China, and it is a hype subject with 100% of the money.Song Ruhua continued to throw out new concepts. For a while, it was "Top will enter the list of top 100 enterprises in the country and become one of the three major software R&D bases in China." .As a result, under the fuel of the stock market dealers and the media, a dying machine tool factory suddenly put on a glittering "high-tech coat", which cannot be underestimated.At the same time, Song Ruhua timely set up the Securities Department, which was located on the top floor of Top Company headquarters, and ordinary employees were not allowed to enter.Under his turmoil, the stock price rose three times a day and skyrocketed.In December 1997 when the acquisition was announced, Chuan Changzheng’s stock price was around 6 yuan per share. By April 13 of the following year, the stock price had hit a record high of 24.58 yuan, an increase of 400%, and the price-earnings ratio was nearly 1900 times.Song Ruhua proudly announced at the high-level meeting, "We made two hundred million this year."This simple and studious young professor has completely transformed since then, from an industrialist to a big player in capital. That is, in 1999, Song Ruhua decided to "copy" the software park model to the whole of China by taking advantage of the sensational effect of the Western Software Park.His method is extremely strong and hard to refuse: Negotiate with the local government, claiming to invest more than 100 million yuan to build a grand software park in the local area, and promise to introduce hundreds of software companies in a few years, making it the The largest high-tech park in the province or region. In August, Top announced to invest 100 million yuan to build the Northeast Software Park in Anshan.Only one month later, Song Ruhua made a second chess piece in his hometown of Shaoxing, Zhejiang Province.Later, Changzhou, Nanjing, and Wuxi in Jiangsu, Jiaxing, Jinhua, and Taizhou in Zhejiang, Weihai in Shandong, and Nanhui in Shanghai, etc., started construction one after another.In every place, the top leaders of the local government must come to the opening ceremony, and many media enthusiastically report that Toppo has become the "God of Fire" that ignites the enthusiasm of high-tech industries in various places.Around 2002, Top had built 27 software parks in dozens of provinces and cities across the country, with an average of less than two months to build a new one, occupying more than 12,000 mu of land.Song Ruhua relied on a "software park concept" to become the largest "IT landlord" in the corporate world. At this moment, Song Ruhua is addicted to the capital game and cannot extricate himself.在他看来，商业其实是一个供人任意玩弄的“金钱木偶剧”。还是在1999年，向来对新事物颇为好奇的宋如华发现互联网热浪正席卷而来，他自然不该旁观。年初，他以12万美元的代价买到了www.chinese.com的域名。很显然，这是一个TOP级的域名，谁都能掂量出其中蕴藏的商业可能性。很快，托普宣布投资6亿元建设面向全球华人的“炎黄在线”。宋如华狠砸广告，一时间，全国的各类报纸上都刊出了炎黄在线的“红色风暴”，广告词只有很醒目的一句：“让我们一起搞大。” 其实，宋如华始终没有搞明白，炎黄在线到底该“搞大”什么，网站一开始被定位为“横跨全世界五大洲的华人聚集社区”，接着转型为“全球华人商业网站”，然后又宣告将成为“零售行业的解决方案专家”。就在热闹的概念炒作下，宋如华又悄然找到了一个“壳资源”。它是江苏省常州市一家叫金狮股份的自行车制造工厂，企业上市两年后效益急剧滑坡。购并之前，宋如华一行到工厂考察，看到的是齐腰高的荒草，一派破败景象。随行人员开玩笑地说，“今后的金狮股份会有两高，一是股价高，一是茅草高。”果如其言，2000年9月，托普集团成为金狮股份的第一大股东，股票随之更名为“炎黄在线”，成为中国股市上第一家以网站名称命名的上市公司，股价由此持续攀升，从最初的不到10元一直涨至33.18元的高位。在互联网领域中失去的巨额广告费和商业自尊，宋如华从资本市场上一把抢了回来。刘波、宋朝弟和宋如华三人均以海外流亡结束了他们在中国的商业传奇。2003年9月，因实业巨亏和涉嫌金融诈骗，刘波逃亡日本，身后留下40亿元的贷款包袱和漫天的谩骂追讨声。宋朝弟收购阿城钢铁后，无力拯救而陷入泥潭。2003年8月，科利华爆出公司拖欠员工工资的丑闻，公司总部员工散尽，宋朝弟不知所终。2005年12月，科利华退市，主业营收为零。宋如华的托普集团曾膨胀到150家子公司，集团总资产号称100亿元。2002年，媒体曝光托普的软件园均为空壳，有的培训中心被承包成了旅馆，园里的小河段做了鱼塘。2004年3月，宋如华以2元的价格出让所持托普股份，仓皇出走美国。 以上三人均以高学历青年才俊的身份亮相商界，其清新风采自然与先前草莽出身的乡镇企业家们颇有不同。而且，他们都以“儒商”自居，风流倜傥，让人寄托无限期盼。然而，在一个放纵的资本游戏中他们相继沉沦了。他们遵奉的信仰似乎来自早年美国华尔街的那句名言——“把自己变成野兽，也就摆脱了做人的痛苦”；他们三人各自的行径或误于“乌托邦”或迹近欺世，在商业伎俩上则表现得鲜廉寡耻和毫无商业道德。及其劣迹败露，在公众舆论层面造成了不小的混乱，有人甚至用“企业家＝知识分子＋流氓”这样的公式来为这些企业家“定型”。在过去30年的中国企业家群体中，有三个很独特而耐人寻味的人文情结，一个是“毛泽东情结”，一个是“红顶商人”情结，还有一个便是“儒商情结”。这些情结的弥漫，一方面诱发了公众对企业界群体不切实际的期望，另一方面也让企业家自身陷入了自恋式的道德迷圈之中。一个很突出的现象是，凡是“儒商”涌现最多的地方，往往是那些最热门灰色、最有暴利倾向的行业。《中国经营报》的记者曾发现一个秘密：中国的地产巨头几乎都自诩为儒商，而京城地产界更是“理念人人有，儒商遍地走”。 诺贝尔经济学奖得主约瑟夫·斯蒂格利茨在《喧嚣的90年代》一书中曾经讲过一句意味深长的话，他说，“毁灭的种子是什么？第一个就是繁荣本身。”此言几乎应验于所有的商业领域。发生在1999年中国股市的所有“非理性繁荣”，都将在日后经受考验，然而在当时，人们对此毫无觉察。在那一年，与股市狂飙互为呼应的是另一个同样具有泡沫特征的互联网经济的兴起。 互联网的龙卷风是从太平洋彼岸的美国无比强劲地刮过来。主要以互联网公司股票构成的纳斯达克综合指数从1991年4月的500点一路上涨，到1998年7月跨越了2000点大关，之后猛然走出一波痛快淋漓的跨年大行情，在1999年12月逼近5000点，市场的繁荣把人们对互联网的热情推到了沸腾的高度。美国战略家加里·哈梅尔像先知一样地宣称，“当下正是改写游戏规则的千载良机。”他在5年前出版的《竞争未来》一书中描述过的景象正在成为现实：随着互联网时代的到来，放松管制、全球化、私有化以及新技术正在使产业边界变得毫无意义，国与国竞争、企业之间竞争的假设边界已经变得模糊不清，任何商业体的生存疆域显得动荡而不可测。 所有人都宁愿相信哈梅尔是对的。在互联网诞生之前的所有产业中，后发的中国公司都已经没有了“创造先知”的可能性，在每一个制造业领域，我们都处在产业的末端，以能源消耗、环境破坏、劳动力价格低廉为特征的“世界工厂”的命运从一开始就冰冷地设定在中国发展的道路前方。只有在互联网的世界里，中国公司找到了打破疆域和重建游戏规则的可能性，这种可能性尽管极其微小，但是它确实存在。 1999年1月13日的《中华工商时报》公布了当时国内的十大商业网站，分别是新浪、163电子邮局、搜狐、网易、国中网、人民日报网站、上海热线、ChinaByte、首都在线和雅虎中国。从当选网站的类型可见，它们都是新闻和资讯类的门户网站，几乎没有盈利模式，评选机构的标准是，“访问量是最重要的，其次是内容，然后是美观”。 排名第一的新浪网当然最受关注。当时，互联网在新闻报道中的快速反应已经让传统媒体望尘莫及。网站总编辑陈彤回忆说，“很长一段时间里，我们都是孤独的，因为没有第二家能赶上我们。新浪网的新闻编辑每时每刻都处在一级战备状态，24小时值班成了固定制度。”这在突发新闻时效性上占绝对优势。5月，当中国驻南联盟大使馆被炸事件发生时，新浪在事发半小时后就发布了这条惊人地新闻。这对于报纸或电视媒体来说，简直是一项不可能完成的任务。 作为新浪的创始人，王志东当时最迫切的愿望是谋求上市。他选中知名的跨国投资集团摩根士丹利为合作伙伴。In fact, even a big investment bank like Morgan Stanley knows very little about the Internet, let alone Chinese Internet companies. The only thing they know is that this is definitely a business that can make a lot of money.凤凰卫视的主持人曾子墨当时正就职于摩根士丹利，她回忆说，在跟新浪接触之前，很多高层对这些新生事物都一知半解，浏览过新浪网站的更是极少数。但是，为了表现出公司上上下下都对高科技和互联网无比精通，领导们特意在会前10分钟找来改项目的负责人，好好恶补了一番。他们不仅记住了像“点击率”和“ICP”这样拗口的专业词汇，还终于搞清楚了新浪并非销售玩具的公司。在谈判中，当新浪团队提到未来的战略方向是建设“门户网站”时，摩根士丹利的一位高层低下头，掩住嘴，悄悄地问坐在身边的项目负责人：“我一直认为新浪是家网络公司，他们要个门干吗？” 尽管没有搞清楚门户与门的区别，但他们对新浪的热情好像与日剧增。为了提高新浪在美国资本市场的知名度，摩根士丹利还特意邀请了华尔街最传奇的科技股分析师、有“女魔法师”之称的玛丽·米克（Mary Meeker）造访新浪，没有想到的是“女魔法师”在听王志东激情演讲的时候居然打起了瞌睡。2000年4月13日，新浪在纳斯达克股票市场正式挂牌交易，融资6000万美元。7月5日，网易登陆纳斯达克，7天后，搜狐快速跟进。至此，中国三大门户网站均在纳斯达克挂牌上市。第一家在纳斯达克上市的中国网络概念股不是新浪，而是由香港人叶克勇创办的中华网。叶克勇于1995年抢注www.china.com。1999年7月14日，融资9600万美元。中华网除了收购过几家国内网络公司之外，并无重大作为，然而它却靠“中国概念”在美国股市大受追捧。1999年11月，中美达成WTO准入协议，中华网股价一天之内飙涨75%，其股价一度被推高到令人咂舌的每股300美元，公司市值50多亿美元，相当于电信制造业巨头爱立信当时的市值。2007年，中华网股价徘徊在5—10美元之间。 在1999年的中国互联网世界，有两个成长的方向。其一就是以新浪、网易和搜狐为代表的、炙手可热的“门户”一族，它们的潜在价值已经被明显放大。另外就是电子商务一族，这些人的努力在当时显得非常另类和可笑，不过，他们将在六七年后成为另一条主流。在这群人中，除了刘波、宋如华等庄家想靠网上书店和电子商务概念在股市上大圈其钱之外，另一些默默无闻的人已经脚踏实地干了起来。 这年开春，已经在互联网世界里“流浪”了好一阵子的马云终于找到了正确的道路。他从北京回到家乡杭州，在城郊湖畔花园的家里创办了一家名叫阿里巴巴的电子商务网站。公司成立的那一天，家里的墙壁突然渗水了，他对大家说，“我出去找点材料。”过一会儿，他抱了一大卷旧报纸回来，然后大家一起把它们贴在墙上，就这样开始了公司的第一天。 阿里巴巴的注册资本是50万元，当时总共18个人，包括马云和他的太太，每人的月薪是500元。马云对全体员工发表开业演讲，“我们要办的是一家B2B的电子商务公司，我们的目标有三个。”马云的演讲很能煽动人，“第一，我们要建立一家生存80年的公司。” 大家一边鼓掌，一边想，“反正能不能生存80年，我们可能谁也看不到。” “第二，我们要建设一家为中国中小企业服务的电子商务公司。”大家鼓掌，在这一点上谁也没有疑问。 “第三，我们要建设成世界上最大的电子商务公司，要进入全球网站排名前十位。”大家你看我，我看你，每个人的心里都在犯嘀咕，“这个目标太具体化了，就凭我们这几杆枪？” 马云后来回忆说，他搞电子商务，从那一天起就铁了心。他做对的事情是，阿里巴巴网站设在了民营经济最为活跃的浙江省，这里以及沿海的江苏、广东一带有数以十万计的、以外贸为主的中小型制造工厂，阿里巴巴为它们提供了一个免费的信息发布平台。而当时，“中国制造”刚刚发力，没有外贸经验和客户资源的众多中小工厂根本找不到合适的营销渠道，阿里巴巴几乎成了它们唯一的选择。连马云自己也没有料到是，阿里巴巴上线不到半年，就被美国《福布斯》杂志瞄上了。根据在线监测显示，这家不知名的中国网站竟是当时全球最活跃的电子商务网站。《福布斯》派出记者来到杭州，终于在那个叫湖畔花园的住宅小区里找到了这家小公司。2000年7月，这家权威的财经杂志第一次选用中国企业家作为封面人物，身材瘦削的马云穿着一件超大的蓝花格子衬衫，卷着袖子握着拳，一脸阳光地朝世界欢笑。他的这件不合身的衬衫也是拍照当天向人借来的。阿里巴巴被评为全球最佳B2B站点，名列综合类第一名。《福布斯》介绍说，“阿里巴巴自1999年3月10日成立以来，已汇聚了全球25万商人会员。每天新增会员数达到1400人，新增供求信息超过2000条，是全球领先的网上交易市场和商人社区。” 几乎就在马云回到杭州创业的同时，4个来自不同行业的好朋友聚在上海的鸳鸯餐厅也打算投身电子商务。沈南鹏是德意志银行亚太区德总裁，梁建章是甲骨文中国区的咨询总监，季琦创办过上海协成科技公司，范敏是上海旅行社总经理和新亚酒店管理公司副总经理。他们当时提出了三个创业方向：网上书店、建材超市和网上机票及酒店服务。经过一番面红耳赤的争吵之后都是旅游迷的他们选中了第三方案。6月，瞄准旅游业的携程网诞生了，它后来成为中国最大的在线旅游服务商。2月，1971年出生的马化腾开发了一个基于Internet的即时通讯网络工具——腾讯即时通信，它的功能跟两年前微软公司推出的MSN颇为近似。马化腾为他的腾讯设计了一个很可爱的小企鹅图形，还给它起了一个名字叫QQ。与MSN的严谨商务形象不同的是，QQ像是一个活泼的邻家小朋友。马化腾在用户使用习惯、服务和技术处理上都采用了最贴近国内用户需求的方案，QQ的下载用户迅猛增多。四年后，腾讯成为中国互联网世界里最粘黏联力的公司。 11月，当过多年个体书商的李国庆和他的海归妻子俞渝联手创办了从事网络图书销售的当当网，夫妻俩的职务是“联合总裁”。李国庆在国内出版界历练多年，余渝则在美国有丰富的企业兼并和金融领域的经验，当当网的模式完全是照着亚马逊复制的，同时，它还建成了全国唯一的动态、时时更新的书目数据库。 也是在11月，1973年出生的陈天桥向人借了50万元创办上海盛大网络发展有限公司。出生于浙江省新昌县的陈天桥从小是个乖孩子，大学读的是复旦大学经济系，18岁就入了党，获得过“上海市学生干部标兵”称号，毕业后分配到国营大企业陆家嘴集团，三年时间当上了董事长的秘书。他决定辞职创业的时候，单位刚刚要分房子。他后来回忆说，“走之前有人留我，说小陈，我们这里快要分房子了，你等拿了房子再走。当时我毕业才三四年，就有房子分给我，应该说是很幸运的了。但我想，难道我这辈子，自己还挣不了一套房子？”丢掉一套房子的陈天桥想搞的是当时还云里雾里的网络游戏。他的公司只有6个人，其中还包括新婚两个月的妻子和他的胞弟，他们在浦东一套三室一厅的办公房开发出了“中国第一个网络化虚拟社区游戏”，可是它并不受欢迎，陈天桥的前途似乎有点黯淡。他不会想到的是，两年后他将代理韩国大型网络游戏，这个游戏让盛大成为中国最赚钱的游戏公司，再过三年，也就是2004年5月，盛大网络将在纳斯达克上市，高峰市值曾达35亿美元，创业5年的他将以90亿元人民币的身家成为中国的新首富。 9月27日，美国《财富》杂志的财富年会在上海举办，年会的主题是“中国：未来50年”，它既有展望未来的意味，又应和了新中国成立50周年的喜庆气氛。三百多名跨国公司领导人赶来参会，其中有六十多位“世界500强企业”的总裁，包括有“全球第一CEO”之称的美国通用电气的杰克·韦尔奇。浦东国际机场一天之间降落了四十多架最先进的私人飞机，其中有理光公司董事长罗伯特·里奇的“FAL900”，还有通用汽车总裁理查德德·瓦格纳的“湾流6号”，这是前所未有的豪华景象。美联社记者在报道中写道，“一切都是那么令人兴奋，时间、地点和议题都是。那感觉就好像是超级碗（美国职业橄榄球总决赛，全美收视率最高的体育节目）现场，人们正在见证一场经典比赛。”在过去的两年多里，中国经济不但经受住了索罗斯和亚洲金融风暴的冲击，而且保持了稳健的增长，这实在让世界非常惊奇，CEO们都想到中国来眼见为实。美国前国务卿、二十多年前与周恩来一起破冰中美关系的基辛格则从历史角度为中国喝彩，他说，“美国历史只有200年，而中国有5000年，中国人相信他们的历史至少有4800年不需要美国参与。”这样风趣的语言当然引来所有人的抚掌欢笑。 江泽民总书记亲自与会，并在开幕式的晚宴上演讲。他说，“今晚我们所在的上海浦东陆家嘴地区，6年前还是一些简陋的住宅和农田，如今已是高楼林立、生机盎然的金额贸易区。五十多年前，我到上海读大学，对旧中国的贫困落后和国势衰败有着深刻感受。正是在那个时候，我立志献身于建立独立、自由、民主、统一和富强的新中国的伟业，并一直奋斗到今天。”江泽民的演讲无疑感染了所有的参与者。财富年会时上海承办的最高规格的国际会议。从1990年确定浦东开发战略以来，这座当年第一大都市的面貌日新月异，到1999年，内环和外环高架，杨浦、南浦和卢浦大桥，地铁二号线，浦东机场，世纪大道，浦东大道和中国第一高楼金茂大厦等一系列大工程都已经或者接近完工。此次年会的举办，意味着上海又重新回到了全球重要金融中心的行列。后来的数据显示，在年会之后的一年多时间里，跨国公司落户上海的速度骤然加快，有超过70家名列“世界500强”的公司在这里投资、设立地区总部或者研发机构。 跟好奇、务实的跨国公司领导人相比，与会的二百多位中国企业家则表得更加亢奋。毕竟这是第一次国际性的商业盛宴，对很多人来说，一张入场券便似乎意味着一张全球化的门票。 就在8月期的《财富》杂志上，一年一度的“世界500强”企业评选公布，中国有5家企业上榜，它们是中石化、中国工商银行、中国银行、中化公司和中粮集团，均是清一色的国字号垄断企业。于是，是否有更多的中国企业能够在最短的时间里进入500强榜单，成了本土企业家们最津津乐道的话题。海尔集团的张瑞敏作为中国公司的唯一代表在大会上发言，雄心勃勃地阐述了他的国际化思路。三九集团的赵新先等则在接受采访时都提出了振兴民族产业和进入世界500强的时间表，他们把年会看成了一个宣誓的舞台。韦尔奇在回到美国后对记者说，“我看到的中国企业家都像在演戏。”北京的《中国企业家》杂志则评论说，“到上海出席论坛的500大巨头，很难理解中国企业家对跻身500强的那种宗教般的情怀。在美国，能否进入500强可能影响公司股票走向及经理薪金，而对中国企业来说，500强清洁包含了企业家的人生价值与民族责任。” 这样的评论尽管中肯却得不到太多的回报，因为世纪末的中国实在激荡着太多的憧憬。11月15日，一张真正的全球化“门票”终于预售成功了，这一天，中国与美国正式达成协议，后者表示支持中国进入WTO（世界贸易组织）。 从1982年开始以特邀观察员身份参加关贸总协定组织（WTO的前身）的部长级会议，到1986年7月正式提出复关申请，在长达十多年的时间里，中国一直努力申请加入这个国际性的经济合作组织。而维护本国利益的美国一直是最大的障碍。早在1997年，中国已经完成了除美国之外所有重要的多边谈判，中美谈判却几经波折。1999年4月8日，美国提出一份苛刻的中国加入WTO后的市场开放清单，遭到朱镕基总理的拒绝。他对美国记者说，“我只能说尽快，愈快愈好，但我也不着急。” 谈判在5月份似乎陷入可绝境。这个月的8号，美国导弹轰炸中国驻南联盟大使馆，三名媒体记者死亡。北京的大学生走上街头，在美国驻华大使馆前点起蜡烛，为死难者守夜，转而冲向他们心目中能代表美国的跨国公司，麦当劳被迫关门歇业一天，IBM大楼的玻璃被石头击中了，微软大中华区总裁罗迈克紧张地在公司向员工发出安慰邮件，称“如果有必要，公司可以关门，职员可以回家避难”。The emotions of the students were very subtle. The Computer Department of Peking University put up a slogan on the school - "Boycott American product