,

Fang Sheng continued: "The second is the online verification system that can query the borrower's exact identity, family address, and information such as case background to prevent impersonation and other situations; the third is to fully guarantee and mortgage, and adopt joint guarantee for campus loans to diversify risks. For those with fixed occupations in society, adopt real estate and vehicle mortgage methods. This is called "monks can run away but can't run away from the temple."

“How much can the rate of return be achieved?”

"The interest rate for online lending is generally 2 to 3 times the interest rate of bank loans. What is the rate of return?"

Mu Yuqiu exclaimed: "So high!"

"Do you think the bank building is magnificent, and the annual salary of the president and the president is millions or tens of millions. Is it really good to operate? It's just a word "monopoly"! When this market looses a little gap, a large number of funds will pour in like a tide, instantly causing the lending market to be dim and the sun and the moon to be lost."

"According to Minister Fang's statement, the end of the banking industry is coming soon... Wait, two weeks ago, I had a niece who wanted to apply for ICBC, so I quickly called her and told her not to apply."

Mu Yuqiu said as he took out his cell phone to call. Fang Sheng suppressed his hand and smiled and said, "Look at you're nervous, I mean instantly! Finance is the cornerstone of social stability. The country will never see banks going bankrupt one after another, and the people's savings are ruined for many years. Therefore, when the banking industry feels that the crisis is coming, it will take countermeasures, and the country must also introduce corresponding regulatory policies to kick private capital out of the arena."

"Ha, how long will our days last?"

"At most, two years, the real estate market will usher in spring again."

Mu Yuqiu slapped the table hard: "You must not miss this opportunity! I'll do it!"

"Import Rui Yun, Xu Jingyao and the others to come here to discuss the investment amount of each company and register an asset management company. Because the approval process involves regulatory departments such as the China Banking Regulatory Commission, the People's Bank of China and other regulatory departments, the provincial leaders may need to say hello. You can follow the notice in the order of specific steps."

"Okay, OK, I'll call now!" Mu Yuqiu's face was flushed with excitement.

At noon, a group of investors gathered. After listening to Mu Yuqiu's brief introduction, everyone immediately started to discuss it. Rui Yun deserves to be a financial background and is proficient in accounting. She frowned and asked two questions:

First, online lending is mainly based on loans from other places. How can we recover if the debt is not repaid?

Second, how to control online lending risks from an accounting perspective, maintain capital liquidity, and prevent the risk of capital chain breakage?

Fang Sheng said: "Rui Yun's two issues are very well raised, involving pre-loan risk prevention and post-loan fund collection of online loan funds. There are currently two ways to recover the problem, outsourcing it to debt collection companies and packaging it for disposal."

"Packaging and disposal usually requires about 40% of the losses, and it is not widely accepted by online lending companies; debt collection companies are more effective in pursuing debt collection companies, but once they are forced to live, the reputation of the company will be devastating, and relevant departments will also come forward to cause trouble. It will be a problem whether the business can continue to do it." Xu Jingyao has dealt with debt collection companies due to debt disputes and is familiar with the tricks.

"Online lending must fully withdraw more than 20% of the bad debt reserves to improve the ability to resist risks, so package disposal and outsourcing can be allocated as appropriate. The core idea is to minimize losses;" Fang Sheng said, "The problem of capital chain is related to whether online lending can develop sustainably. Judging from the experience of foreign operations, most online lending companies are not dragged down by bad debts, but are destroyed by the breaking of capital chain!"

Zhou Ting didn't understand yet, so he asked blankly: "We lend our own money to others. We only have the problem of borrowing more or less, how can we break it?"

Rui Yun explained: "Online lending orders cannot reach the profit scale by relying on their own funds, because the supervision requires a pre-deposit of 15% risk funds, and then at the beginning, there must be 10% reserve for bad debts. In this way, one-quarter of the funds cannot be moved, which is an interest-based asset. In order to make up for the loss of this asset, it is necessary to borrow from banks or other financial institutions. With the loan, the reserve fund must be provided to ensure repayment... Online lending is not as easy as everyone imagines. It requires very complex and interlocking accounts, and various regulatory indicators and financial data. Be careful to control the risk line every day, as well as unpredictable capital losses, etc. The work of playing money must not be vague at all, and you must have a mentality of walking on thin ice."

"We need to have a team that is proficient in finance, computers and the Internet," said Xu Jingyao. "We are playing short-term, fast-track, and the most convenient way is to poach people from banks and other financial institutions to get into the role as soon as possible."

"If the business is suspended in two years, what should we do? It is not our style to burn bridges across the river." Zhou Ting asked.

Mu Yuqiu said: "Give me a large amount of severance payments, so that you won't suffer any losses."

"I quit my banking job and come to our place. The severance payment may not be satisfactory." Zhou Ting said.

Fang Sheng said: "Everyone should be clear that once the country comprehensively rectifies online lending, in the future, the issuance of licenses will be quite strict and even impossible to apply for, so the qualifications we hold are wealth itself. Therefore, the business will not be completely suspended, but will shrink significantly, the operations will be more standardized, and the yield will drop sharply. However, we must maintain a team to persist, and in the future, it may be acquired by other financial institutions, or to see the opportunity to expand the scale again."

Zhou Ting nodded: "I feel relieved if Minister Fang says this."

"Everyone will consider it and raise all the issues that can be considered," said Fang Sheng. "Who will lead the new company?"

"Rui Yun, she knows bank accounts herself, not like we know nothing." Xu Jingyao said.

Mu Yuqiu said: "I also think Rui Yun is the most suitable, but online lending involves a lot of energy. What should I do with Xiaonan Deya?"

Although Rui Yun is also the boss, she is essentially different from the bosses such as Mu Yuqiu. The company's assets are owned by Fang Sheng, and she is just an agent. Therefore, although she is eager to accept new challenges, she is inconvenient to express her opinions and glances at Fang Sheng slightly.

Fang Sheng pondered for a moment and said, "Xiaonan Deya's business is basically on track. Since Mr. Zhou does not want to continue to develop in the tourism industry, he might as well serve as the executive vice president to take over some of the business. In this way, Rui Yun takes into account both sides and focuses on online lending. How about it?"

"Okay!" Zhou Ting knew well that Xiaonan Deya had joined the ranks of famous high-tech enterprises in Shuangjiang, and its scale and efficiency were in the golden stage of rapid development of the enterprise. At this time, his former executives were picking ready-made peaches, and their income, fame and influence were not comparable to those in the tourism industry. To put it bluntly, Fang Sheng took special care of himself.

Rui Yun had no objection, because Zhou Ting's joining would not reduce her income, but she focused more on trying different fields and building herself into a compound talent. She firmly believed that as long as she had enough strength, she would never lack opportunities after Fang Sheng.

The discussion was warmly in the evening, and the final determination of the shareholding ratio, equity structure, recruitment plan and operation framework was made. Mu Yuqiu and others were also determined to gradually sell their existing assets from tomorrow, and go abroad for a walk through overseas acquisitions, and transfer it to the country in the name of European and American sovereign funds. In this way, the capital source has nothing to do with Mu Yuqiu and others, and it has nothing to do with Fang Sheng.

Seeing that it was getting late, Mu Yuqiu proposed a dinner to celebrate the establishment of the new company. Fang Sheng asked them to carry out the event by themselves, and there would be another event tonight.

"What activity is more important than opening a new company?" Mu Yuqiu said with a smile, "If you are a friend, why not invite you to come and have fun together?"

Everyone knew that Fang Sheng had many girlfriends, and they all smiled and said nothing.

"Have a meal alone with Yu Daoming."

As soon as these words were spoken, Mu Yuqiu and others shut up obediently. They drank with the Executive Vice Governor. They didn't dare to think about it, nor did they have the courage. How restrained it would be to sit together.

Just over six o'clock, Yu Daoming called, but it was still the old place - Oriental Jincheng Hotel, the smallest private room. When Fang Sheng arrived there, Yu Daoming had already ordered good dishes, and was trapped in the soft sofa and swallowed the clouds and mist.

"There are no other guests, right? Second Uncle." Fang Sheng asked with a smile when he saw that Yu Daoming was in a bad mood.

"Um."

Yu Daoming took out a bottle of 20-year-old Moutai from his bag, made an exception and took the initiative to help Fang Sheng fill the wine, and said, "It's really thanks to you today. Not only did I escape safely, but I also got rid of my worries."

"Look at what the second uncle said. The second uncle has helped me so many times before. I was shameless and didn't invite you to have a drink. Today..."

"Different, different, this is a private morality, a shameful act," Yu Daoming sighed, "I considered the consequences when confronting them at night. Whether it alarms the provincial party committee or the old man, the career will be severely hit. Shuangjiang will definitely not be able to stay there. Maybe he will return to the Ministry of Agriculture to get a member of the Party Leadership Group. From now on, I will clean up my mind and take care of my old age in advance..."

"Fortunately, my second uncle never revealed his true identity, and fortunately that family never read the provincial news. Otherwise, it would be a matter of exposing his identity every minute."

"If you want to say that Xiao Niu is really... simple and cute, her life goal is to raise enough money to open a store by herself, so when I revealed that she could help her achieve her goal, she followed me wholeheartedly," Yu Daoming raised her head and took a big sip of wine, and said sadly, "After coming to Shuangjiang, I was really lonely for too long. She gave me a lot of comfort and tenderness. Alas, when I heard her chat about family affairs and husband, I shouldn't have made an impulse promise to build a civil servant for her husband, and from then on, I was troubled by it, because I quickly realized that this thing could not be done.

She didn't complain, her husband put pressure on her again and again... The grandson of the turtle had known that his wife had followed me, but he coveted those high-end brands. Sometimes he threw her a few shopping cards and pretended to be confused. When he heard that I was unwilling to help with civil servants, he was about to turn against him, so he gathered his family to catch the adulterer, and the lion opened his mouth and offered a price of 1.5 million. I thought that I could not afford the dead salary I received. Anyway, I was going to alarm you, so I might as well carry you forward to negotiate with them to see what a better solution. You didn't disappoint me!"

"I think this matter needs to fundamentally solve the problem, and the Mavericks must also move," said Fang Sheng.
Chapter completed!