Chapter 892: Opening up the mainland's financial sector

It seemed as if the heavens were on their side. On the tenth day of the tenth month, the sky was clear and blue, with a gentle breeze that made it seem like a perfect day for outdoor activities.

Although the official groundbreaking ceremony was scheduled to begin at 10:00, guests began arriving before 8:00, taking the opportunity to explore the campus before the ceremony began.

'President Wang, welcome!'

Xia Yu and Wang Gengwu were among those greeting the guests at the Youth Plaza on campus, which had been turned into a temporary parking lot. When two more people emerged, Xia Yu warmly greeted them, shook their hands, and then focused his attention on the older man.

The person who had come was Wang Ping, the first director of the Xiangjiang Branch of the Xinhua News Agency.

'Mr Xia, congratulations!'

'The completion of Jiuding University is beneficial to the country and the people. It's a generous gesture!'

'Haha, it's nothing. What comes from the people should be used for the people. As an entrepreneur, one must have some social responsibility.'

Xia Yu waved his hand and smiled lightly.

Afterwards, he said apologetically, 'President Wang, I would like to apologise in advance. On 1 October, I was in the United States on some business and really couldn't find the time to come to the National Day banquet organised by your association.'

Wang Ping shook his head and laughed, 'Mr Xia, you're being too modest. Your business is booming and you support many people, so of course your business is more important. There will be plenty of other banquets, not to mention the fact that I already received the flower basket you sent me on National Day. It was a token of your heartfelt appreciation!'

Xia Yu smiled and, after changing the subject, asked, 'President Wang, I wonder if you're free this morning?'

Wang Ping raised his eyebrows slightly and said without hesitation, 'Mr Xia, I'm free whenever you need me.'

This was indeed the case. Xia Yu was the number one important figure in Xiangjiang, and his main responsibility was to do a good job of liaison work. He would be more than happy to have more contact with Xia Yu.

Although Xia Yu was also aware of this, Wang Ping's words still made him feel particularly comfortable. He laughed and said, 'Oh, President Wang, you're making Xia Yu feel flattered.'

'Then after the ceremony later, I'll talk to you in detail, okay?'

'No problem!'

'President Wang, please go in with them and take a break for now. I can't leave just yet, so I won't accompany you.'

'I understand. You go ahead, I'll look around.'

...

From then on, people kept arriving, not only the bigwigs of the political and business circles of Xiangjiang, but also many bigwigs from Macao, Macau and Southeast Asia.

Not to mention the academics in the education sector, the laying of the foundation stone for Jiuding University was a major event in the education sector of Xiangjiang, so of course they came to congratulate them.

Wang Gengwu was responsible for receiving guests from the education sector, while Xia Yu, the university's chairman of the board, and the two directors Bao Yugang and Huo Yingdong received guests from the political and business sectors.

As for other honorary directors such as Li Jiasheng and Li Zhaoji, who were famous but had no power, Xia Yu did not ask them to do anything and let them do whatever they wanted.

By around 9:30, apart from a few who had sent flower baskets after exchanging greetings and who had urgent matters to attend to, all the other guests who had received invitations were present.

At 10:00, the groundbreaking ceremony began punctually. As Governor of Hong Kong, Murray MacLehose gave his support to Jiuding University and offered his sincere blessings. The completion of Jiuding University was inseparable from his strong support, which can be considered his political achievement.

Jiuding Satellite TV broadcasted the whole event live, and the real situation of Jiuding University was watched by thousands of households via satellite signal.

As a place of education, Xia Yu did not arrange any fancy performances at the ceremony, but the speeches and blessings for Jiuding University from well-known figures in politics, business and education were enough to impress people.

In particular, towards the end, Wang Gengwu announced the use and balance of funds, and announced the establishment of a special Jiuding University Foundation by Jiuding University, placing all the remaining endowment funds and future financial assets under the Jiuding University Foundation. The goal is to avoid idle funds and make full use of them to create long-term investment returns to support the educational and research undertakings of Jiuding University.

This model does not exist in mainland China at present, but it is very popular in Europe and the United States, and almost every university has a dedicated educational foundation.

Just like in the future, the total assets managed by the Harvard University Education Foundation have reached more than 36 billion US dollars. Harvard University can reach such a high level because it has never lacked money, and all kinds of hardware and software are top-notch!

All kinds of research have sufficient financial support! Therefore, after Wang Gengwu's announcement, everyone present applauded in congratulations, and to show their support, Murray MacLehose also stood up on the spot and donated half a year's salary as support for Jiuding University.

After MacLehose had taken the lead, many guests came forward to support the cause, especially the big shots in the business world, who were all more generous than the next.

At the end of the donations, Chairman Xia Yu also generously donated 100 million Hong Kong dollars, and the cheque was handed over to Wang Gengwu on the spot.

I believe that after today, Xia Yu's reputation as a philanthropist and a supporter of education will be unstoppable!

After the donations were tallied, the amount received on the spot reached a total of 263.2 million Hong Kong dollars.

When this figure was read out by Wang Gengwu, there was thunderous applause, and everyone was shocked by the figure.

In particular, the presidents of Xiangjiang University and Xiangjiang Chinese University had red eyes and were full of envy.

Before the school was built, Xia Yu directly donated 100 million Hong Kong dollars, and the two school directors, Huo Yingdong and Bao Yugang, each donated 50 million Hong Kong dollars. Coupled with the donations of other business leaders, Jiuding University had 370 million Hong Kong dollars in funding at the beginning of its construction.

And now another HK$263.2 million!

Compared to the HK$20 million that the Hong Kong University and the Chinese University of Hong Kong each receive from the Hong Kong government for research and education every year, and that they have only reached this figure in the past two years, Jiuding University has received more in a single donation than they have received in ten years.

Even though Jiuding University has not yet officially started enrolling students, it has already revealed its enormous threat.

Unconsciously, the two men focused their attention on Xia Yu in the middle. They then exchanged a wry smile.

After the groundbreaking ceremony, Xia Yu arranged a lunch in the school cafeteria. Apart from a few people who had urgent business to attend to, many stayed behind to take advantage of this rare opportunity to expand their network.

It wasn't until after 2:00 p.m. that the guests gradually dispersed, and Xia Yu invited Wang Ping alone to the university chairman's office to drink tea.

'Mr. Xia, your groundbreaking ceremony was a great success. After today, the name of Jiuding University will resound throughout Asia! Your reputation for being passionate about education will also spread throughout the world!'

Thinking about the heavyweight guests at the morning's groundbreaking ceremony, as well as the huge donation figure and Xia Yu's generosity, Wang Ping said with emotion.

Comparing this groundbreaking ceremony to the National Day banquet hosted by the Xinhua News Agency ten days ago, the gap between the two is like a chasm. If so many people had come to the National Day banquet, he would have been so happy that he wouldn't have been able to sleep for days.

But he only thinks about it. He also knows that if there is anyone in Xiangjiang who can have such a big impact, it would only be Xia Yu.

Xia Yu smiled and said, 'It's hard to imagine ringing through Asia, but being able to make a name for yourself in Hong Kong, Macau, and Southeast Asia is enough. At that time, you won't have to worry about not being able to recruit enough students.'

Wang Ping laughed and said, 'Mr. Xia, you really know how to joke. I saw the expressions of the two presidents of Heung Kong University and Heung Kong Chinese University after they approached President Wang after the celebration ended. They were so complex, both envious and worried. With your strong support, it is just a matter of time before Jiuding University surpasses these two established universities.'

Xia Yu smiled helplessly, 'President Wang, you are overestimating me and Jiuding University. The presidents of Xiangjiang University and Xiangjiang Chinese University are trapped by the problem of educational funding. This is also the only advantage of Jiuding University. However, running an education business requires a combination of hard and soft power. I can use money to build up hard power, but Jiuding University is far from being good at soft power.'

'At present, Jiuding University has a huge shortage of teaching staff, and I'm having a headache about it right now. President Wang is also very worried about it.'

Wang Ping's brows furrowed slightly, his smile fading. After a moment of thought, he said reassuringly, 'Mr Xia, what you're saying makes sense, but there's nothing we can do about it. It won't happen overnight.'

Xia Yu smiled slightly and picked up the conversation, saying, 'That's why I've come to you.'

Wang Ping looked at Xia Yu with some surprise, his brows furrowed, and he asked in puzzlement, 'Mr. Xia, please speak plainly. If I can be of help, I will definitely do my best.'

Xia Yu smiled and said, 'It won't be too much trouble for you. I just hope you can pass on a message for me. I hope that Jiuding University can cooperate with well-known universities on the mainland, such as Tsinghua and Peking University, and ask the mainland for help in supporting some high-level professors.'

'Hong Kong is a tiny place with few talents, but the mainland is full of talented people.'

After hearing Xia Yu's meaning, Wang Ping's brows suddenly relaxed, and he nodded without hesitation, saying, 'No problem. I will report back to the higher-ups immediately after I get back, and I will let you know as soon as I hear anything.'

That being said, Wang Ping was sure in his heart that the higher-ups would definitely agree.

The higher-ups were only too happy for Xia Yu to make a request, but Xia Yu hardly ever spoke, and even when he did, it was always about cooperation that would benefit both sides and not incur any favours from the mainland, which was a bit worrying.

Now that Xia Yu has asked for help, it is still cooperation in the field of education, which is not difficult for the mainland, and it can also effectively expand the influence of the mainland among elite intellectuals in Hong Kong. It is difficult for the mainland to find such an opportunity, so how can it turn it down?

Xia Yu had also considered the probability of the mainland's agreement, so he smiled and said, 'Then I'll trouble you, President Wang, for your trouble!'

'It's only right!'

Wang Ping said with a smile.

After a brief chat, Wang Ping suddenly said to Xia Yu, 'Mr Xia, there is something I want to inform you in advance.'

Looking at Wang Ping's serious expression, Xia Yu's eyebrows rose slightly, and he listened attentively, saying, "Please go on!'

Wang Ping pondered for a moment, as if formulating his thoughts, and then said solemnly, "On 8 October, a decision was passed at a meeting above, and an official document has been issued, but the document has not yet been made public.'

Xia Yu's pupils constricted, and he paid 120% attention, waiting quietly for the rest of the story.

Wang Ping continued, 'It has been decided that the financial industry will be opened up to a limited extent, and foreign-funded banks will be allowed to set up business institutions in the four special economic zones of Pengcheng, Xiamen, Zhuhai and Shantou to engage in foreign exchange and financial services.'

'And the first batch of places has already been decided, and there are only three!'

Xia Yu was very surprised that the mainland had moved so quickly!