Chapter 627 The creation of a century-old foundation
In history, Hong Kong's economic crisis collapsed and early 1973 was only one year away;
But the current timeline is because of its existence , I don’t know what will happen later. It may be an early outbreak or a delay. The only thing that can be determined is that this crisis will inevitably occur. This is also the most uncertain time for the economic crisis since Yang Wendong traveled through time;
Fortunately, the decline this time is not very large. If a company does not over-enlarge the leverage, it can usually survive. In the next 1983, he will be very confident that it will not happen. What changes are there, because the next economic crisis cannot be affected by manpower at all.
But after all, the economic crisis may come. Even if you don’t know the exact time, it’s okay to be a little prepared.
"Does Yang Sheng think the real estate bubble is relatively big now?" Zheng Zhijie asked hurriedly;
You must know that Yang Wendong's predictions on the real estate market and stock market are also very accurate. Changxing Real Estate seized the opportunity several times before. The takeoff is because of Yang Wendong's many advance arrangements, buying low and selling high.
Yang Wendong said: "There are some bubbles, but nothing may happen in a short period of time. Similar to the situation in 1963, do you still remember it?"
Zheng Zhijie clicked the spotlight "Remember, that is, do we need to shrink in the real estate market?"
In 1963, the real estate market did not reach its peak, but Yang Wendong ordered the purchase of land and only opened the discovery Some, then at the end of 1964, the Hong Kong real estate market began to sluggish, which was enough to prove Yang Wendong's keenness at that time.
Yang Wendong said: "Yes, it's almost the same, but these are just projects that are preparing to sell cash withdrawals. When the development continues, don't start if there is no development, the same is true for cooperation outside;
But If you involve self-sponsible projects or some of the locations outside are very good, you can also buy land and build it to self-sponsible. In short, those who have long-term self-sponsibility will not be affected."
In that wave in 1967, housing prices were cut, and that At that time, except for the best golden position, there is no need to consider anything else;
But the next wave of real estate crisis is actually just a halving and a halving housing price. It seems a lot, but compared with the future ten times or even dozens of times The increase is just a small downhill, so except for short-term profitable real estate projects, you can do whatever you want.
A truly large enterprise will not make huge policy changes due to a small market fluctuation, and even in the next 1983 wave, will do this. After all, the decline is really far inferior to that of the wave. 1967.
Zheng Zhijie said, "Okay, I understand what to do."
"One more, our real estate group is already quite large in Hong Kong. In the future, Fang Xianming will have some actions. To increase our land reserves, we need to participate in real estate projects moderately less." Yang Wendong said suddenly.
Zheng Zhijie asked, "What Yang Sheng means is that we only participate in large-scale properties?"
This is actually very normal. When a large enterprise is large in the industry, it is not very good. Maybe I have done all kinds of small businesses.
Yang Wendong nodded and said, "Yes, in the future, we can just build large office buildings, hotels, and shopping malls. We must choose the strategic direction well and hold on to a large amount of self-support. Although the returns will be lower in the short term, housing prices will rise sharply and rents will rise in the future. After the big rise, the current investment will have very stable long-term income in the future.”
Rental income from office buildings and shopping malls in Central, Admiralty, Causeway Bay or some golden areas in Hong Kong can make the world's top 500 companies jealous. In the 21st century, the rent of an office building exceeds HK$1 billion a year, and IFC's one year It's even billions;
Of course, the one with the highest rent is Harbour City in Hutchison Whampoa, with a rent of more than 10 billion yuan a year. However, the project Hutchison Whampoa has not started yet, so I can only wait for my future acquisition. It is also necessary to build a similar or even larger "harbor city".
Zheng Zhijie said: "Then our behavior is a bit like today's land."
"Yes, from the property ownership, we can only develop in this direction. After all, the Hong Kong real estate market is It's that big." Yang Wendong paused and said, "But you can't learn to build land in this area. In the past, land has not grown due to long-term stable income. I don't allow this;
So next, The core development direction of Changxing Real Estate Company is to expand overseas, both Southeast Asia and Japan can do it. It requires your internal investigation and decision-making."
Although Hong Kong real estate makes money, the upper limit of profit is not low, but the upper limit of scale is not high. In other words, this era is not good. After all, no matter how rich Yang Wendong is, it is impossible to build a seventy or eighty-story skyscraper in this era. , the Hong Kong government will not agree.
In this way, if Changxing Real Estate wants to develop, it will naturally have to go overseas. Southeast Asia and even Japan will have to take off their economy in the next twenty years, which is the best choice.
Zheng Zhijie thought for a while and said, "Yang Sheng, we have already invested in Singapore. Why don't our first goal be to invest in office buildings and shopping malls there?"
"Yes, but you can also consider some other cities." Yang Wendong said: "What do you think in Japan?"
"It's a bit difficult. The Japanese market is very xenophobic. Even if we can successfully enter, I'm afraid it's difficult to operate well. This is not an industry, and there will be local dealers responsible." Zheng Zhijie reminded.
Yang Wendong nodded and said, "That's fine. For investment in Japan, it's enough to buy a suitable office building. The office building is only responsible for leasing and property management, and can also be contracted to local companies, so that we can be a hand-off boss with peace of mind." "This is also a good way." Zheng Zhijie agreed.
Yang Wendong smiled and said, "It's just a talk now. Let's arrange the projects in Hong Kong first. Overseas investments must be done step by step. Let's choose Singapore first and invest more office buildings. The cost of things management is the lowest. "
"Yes, Yang Sheng." After Zheng Zhijie agreed, he said: "Yang Sheng, we still have Changxing Infrastructure Company under our jurisdiction. I think we can focus on developing infrastructure Project. "
"Infrastructure?" Yang Wendong said: 'I have thought about this too, but there are no large-scale infrastructure projects in Hong Kong, and we have ports too. Other roads are generally handled by British companies , we can't get in. 'Although Hong Kong is economically "free" and does not need to pay taxes to the UK, there are actually more operational methods. The easiest model is that Hong Kong's fiscal funds can purchase British Treasury bonds and reserve British foreign exchange reserves, or Some financial means, etc.;
In addition, many infrastructure projects within Hong Kong, such as reservoirs, road construction, public construction, etc., are mainly given to British capital. The funds will eventually flow to the British chaebols. Only a few will give to Chinese capital, not because they are kind-hearted, but because they are not. In order to beautify "China-English Fairness", the Chinese companies contracted were mainly invested in the past.
Zheng Zhijie said: "Yes, this is true in Hong Kong, but we can also consider investing in some basic vehicle infrastructure overseas, such as ports, bridges, or some other aspects Basic supporting measures;
These businesses are indeed not as good as Hong Kong's real estate, but their strength lies in stability. And even if we have confidence in Hong Kong, we cannot put all the eggs here, while other real estate, Apart from Singapore, it is difficult for us to be absolutely sure that we will keep rising. "
"It makes sense for you to say that. We cannot always only work in the real estate industry. It is indeed necessary to have appropriate infrastructure." Yang Wendong Nodded and said.
Because she knows the future, Yang Wendong dared to invest in real estate on a large scale in Hong Kong and Singapore. With knowing the future, real estate returns will definitely be stronger than ordinary ports. Just talking about economic returns, a container terminal in Hong Kong cannot compare to the future Harbour City of.
But outside Hong Kong, even Singapore, he can only say that the profit will be good, Singapore is not small in size, and he doesn't even know which places have the highest profits. In this case, But you may not be able to compare some core infrastructure;
Of course, there are relatively few infrastructure in core locations, and it is difficult for ordinary people to have the opportunity to participate in this kind of place.
Zheng Zhijie continued: "Yang Sheng, another thing I have considered is that in the long-term consideration of our group in the future, we cannot place all our funds on real estate with high risks and high interests, and we also need to be moderate. Invest in some low-risk and stable returns;
In this way, there is no risk on one side and stable returns. This is the cornerstone of our group. On the other hand, we can make appropriate high-risk investments to obtain high returns."
Yang Wendong smiled and said, "From the risk perspective, it is indeed very good. I am also optimistic about the long-term stability of these industries. Perhaps there will be long-term stable returns in decades or even a hundred years."
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As a professional manager, Zheng Zhijie's proposal is completely correct. After all, he is not a time traveler. When Changxing Real Estate is very large, he naturally needs to consider it from a risk perspective. After all, there are only small companies. Only when you like to bet big, large companies seek stability to a certain extent;
The path of entrepreneurship is to make money by taking odd steps in the early stage, but in the later stage, you have to take a stable route.
For example, after Bill Gates made a lot of money from the technology industry in his previous life, he turned to invest in oil, railways, hotel chains, agriculture and mining; after Li Jiacheng made a lot of money from real estate, he invested in electricity after he made a lot of money from real estate. , ports, natural gas; other rich people also have similar operations.
Are these electricity, ports, natural gas, and power generation more profitable than the technology industry and real estate?
Of course not!
When the capital of any family, individual, or consortium reaches a certain level, what they begin to pursue is not "a hundred times the profit", but "a foundation for all generations". There is a saying in ancient times that "a family makes a thousand golds." This is why it is better to make a penny day.
And after the assets reach a certain level, it is incredible that they can get three times more profits, but the risks are still so great.
Even Yang Wendong, a time traveler, can't guarantee that his future investment in the technology industry will be absolutely accurate. Only real estate in Hong Kong and mainland China is somewhat sure, but it is impossible to invest all capital in all its capital. Go in.
Zheng Zhijie smiled and said, "Then I will focus on increasing my investment in infrastructure, but it is difficult for us to enter overseas infrastructure at present."
Yang Wendong thought for a while and said, "This matter is not urgent, maybe It takes more than ten years or even decades to complete gradually, not just one or two years, but it can be considered from two aspects;
The first is the container terminal, which is considered to be a semi-new industry and economical The good places have basically been built, but there are still many economically poor areas , there is no container terminal yet;
The second is agriculture, purchasing farms, similar to Watsons' investment in Malaysia. No matter how the economy develops in the future, agriculture will always be the foundation, and the amount of arable land in the world is also limited."
Zheng Zhijie thought for a while and said, "Yang Sheng, these two industries are indeed very stable. But in the initial choice, we must pay great attention to it. Both are heavy asset investment. Once a zz problem occurs, then we will The losses were heavy."
"Yes, this is the highest priority, so the farm is just for Malaysian investment for the time being, and this place is relatively trustworthy." Yang Wendong nodded and said, "As for the port of the container terminal, it will not be carried out overseas for the time being. Investment and construction, instead of forming a professional construction team, such as joining Kinmen Construction to develop in this direction;
I used to cooperate with Huo Yingdong to build a small container terminal in Brunei, and I can do it in the future In this way, be responsible for the construction first, and then invest when you have the opportunity in the future. "
The mainland ports in the future are the most valuable. It just so happens that it takes about ten years to study and build, and you can directly participate.
As for farms, in fact, South America is the most suitable one. However, in the first era, the economy in South America was very good. It is very expensive to invest in a farm there, which is not cost-effective;
The second is that South America belongs to the back garden of the United States. If there is no trustworthy American capital participating together, the risk of investing there will be much greater than that in Asia.
Of course, Australia may be able to do it, but the labor cost there is too expensive, there are few people, and there are monopoly consortiums in the local area, so there is no need to participate.
Zheng Zhijie agreed, "Okay, I understand what to do."
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