Chapter 462: Mortgaging East River New City Land

After the first-phase construction of East River New City started smoothly, Chen Yang took Su Mingyue to Deep City, where he attended the groundbreaking ceremony of the Ordinary People's Commercial Building in Deep City.

After the ceremony ended, Hu Shiyou summoned Chen Yang alone to his private car for a talk.

"Chen Yang, Deep City's development prospects are clearly superior to Xingcheng's. You should put all your money over there. That isn't a very wise choice!"

"Besides, I heard you ran into serious trouble this time and almost got yourself dragged in?"

Chen Yang sighed and said, "Uncle, I was careless this time, underestimating human greed. I never expected former allies to turn into enemies."

"Allies?" Hu Shiyou snorted coldly, bluntly criticizing Chen Yang: "You've really embarrassed yourself. In that circle, a businessman like you with no background is just a lamb waiting to be slaughtered."

"They left you alone before only because you weren't fat enough yet."

"Now that you've exposed your net worth, why wouldn't they move in for the kill?"

Chen Yang lowered his head and stayed silent. His original goal had been to make a stunning debut, but instead he attracted a pack of greedy wolves.

If it weren't for his vested-interest tie with Sun Changqing and the full backing of Old Master Chen, getting out of Xingcheng unscathed this time would be questionable.

"Uncle, the problems over in Xingcheng have been temporarily resolved, so please don't worry about me."

"Resolved?" Hu Shiyou snorted again, his expression grave as he told Chen Yang: "You're still thinking too simply. Once their greed has been stirred up, it can't be put back. Unless you quickly find a backing to counter them, sooner or later they'll bleed you dry."

Upon hearing that, Chen Yang's mood instantly grew heavy. To overturn Wang Haiyang's backing, he would need to connect with the top one or two leaders of the Provincial Committee.

But aside from exchanging a few words with the two bigwigs at the groundbreaking ceremony of East River New City, he hardly had any chance to meet them again, making such a connection even harder.

Without those two as his backers, if Wang Haiyang and his forces made a comeback, Chen Yang would truly have no recourse.

Naturally, if Executive Vice Governor Liu Jianghua faces no surprises, he will be promoted after the year. If he could back Chen Yang, the threat from Wang Haiyang's side would be much reduced.

The problem is, Liu Jianghua remained completely silent and neutral throughout this conflict. How much support he could give Chen Yang after his promotion is also uncertain.

Chen Yang looked at Hu Shiyou with a pleading gaze. "Uncle, what should I do now? The money's already sunk in, and the Xingcheng municipal government won't let me pull out. I can't just sit here and be slaughtered, can I?"

Hu Shiyou thought for a moment, then said: "You have only two options. First, slow down the project's progress and gradually shift the funds you've invested over to Deep City. That way, even if they strike again later, it won't hurt your core."

"Second, make a bigger splash so higher-ups notice you. Then everything you do will draw widespread attention, making them think twice before acting against you."

Chen Yang immediately rejected Hu Shiyou's first suggestion. "Uncle, moving three billion yuan without senior bank assistance is impossible to do easily. In this situation, which bank leader would risk his career to help me?"

Hu Shiyou replied calmly: "That's simple. You can mortgage the East River New City project to a bank in Deep City and directly borrow three billion yuan from there to reinvest."

"That way, even if East River New City runs into trouble, your money won't lose a cent. Any property disputes there can be handed over to the bank to handle."

Chen Yang thought Hu Shiyou's approach was excellent. After pledging the shares, the interests in East River New City would be totally tied to the bank. If Wang Haiyang tried to take over East River New City, it would be like grabbing meat from the four major banks. Even if his backer were the Provincial Committee Secretary, it would probably be useless.

After careful thought, Chen Yang decided to accept Hu Shiyou's suggestion. After all, he could also carry out the second suggestion, but he couldn't guarantee he wouldn't run into an even bigger wolf later.

However, borrowing that money from Deep City needs a legitimate pretext.

Chen Yang gave it more thought and decided to build a large commercial-residential complex near the Ordinary People's Commercial Building.

A week later, with Hu Shiyou's facilitation, Chen Yang secured a loan of three billion yuan from the ICBC Deep City Branch.

Once the funds arrived, Chen Yang immediately spent 1.5 billion yuan to acquire a commercial-residential plot of 160,000 square meters near the Ordinary People's Commercial Building.

Following precedent, Chen Yang posted on the company's website the information that the Ordinary People's Financial Investment Company would refinance another three billion yuan and invest seven billion yuan in Deep City to develop a commercial-residential complex.

As soon as the information was posted, Sun Changqing's call came in, his tone a little unfriendly.

"Chen Yang, you took the land-use rights of East River New City to Deep City to mortgage for a loan. Why didn't you consult me first?"

"Mayor Sun, this is normal business practice. All my plans have been posted on the company website with no concealment. You wouldn't get angry just because I invested elsewhere, would you?"

Sun Changqing, displeased, said: "Chen Yang, if you mortgage the land of East River New City and your investment in Deep City fails, won't the East River New City project also be affected?"

Chen Yang replied calmly: "Mayor Sun, you're also in economics. Don't you think the prospects for real estate investment in Deep City are better than in Xingcheng?"

Upon hearing that, Sun Changqing fell silent at once.

To avoid an awkward atmosphere, Chen Yang added: "I'll only have more funds to develop the East River New City project if my investment in Deep City succeeds. You wouldn't want my bank debt to keep growing, would you?"

Sun Changqing sighed: "Chen Yang, I won't interfere with your investments, but the East River New City project must not run into trouble. For your project, I've even issued a military order to my superiors."

Chen Yang immediately assured: "Mayor Sun, rest easy. As long as Wang Haiyang doesn't stir up trouble again, the East River New City project will surely be completed smoothly."

Upon hearing that, Sun Changqing instantly grasped Chen Yang's intention to move the funds. It seems he still isn't at ease about the forces behind Wang Haiyang.

That being the case, he felt embarrassed to blame Chen Yang further. After all, the investment climate in Xingcheng is unstable, and as its mayor he bears great responsibility.

"Chen Yang, rest assured. As long as I hold the position of mayor of Xingcheng for even a single day, Wang Haiyang won't dare lay a hand on the East River New City project."

"Thank you for your support, Mayor Sun."

Chen Yang expressed his gratitude for Sun Changqing's support, but he did not therefore let down his guard against Wang Haiyang.

As Hu Shiyou said, Sun Changqing's power is still insufficient to serve as Chen Yang's bulwark against Wang Haiyang.