Two Sided Qin Xiao: The Division And Combination Of Scholars And Entrepreneurs

Two-sided

He is the hedgehog in the system, but knows the opportunity to hide and expose.

"Help me change my cup of tea," Qin Xiaoyang said to his neighbor. "This Tieguanyin is not fermented."

This is one of his few moments to show personal likes and dislikes.

In the system of "a lifetime of revolutionary work", Qin Xiao concealed himself deeply, and his temperament was as hard as a rolling stone.

He is famous for being good at thinking and controlling in Chinese business circles, but he is a familiar stranger in everyone's eyes.

Whether he talked about his ten years of investment promotion or the "Modernity" society he pushed, Qin Xiao had a rather cold manner.

Qin Xiao knows why we came.

Since August 23rd this year, Qin Xiao, 63, has left office.

He told Chinese Entrepreneurs: "retirement is mainly relaxing and relaxing. If you are busy than your work, then it is not right."

This is October 18th, Monday, Shekou investment promotion building in Shenzhen. Before this weekend, Qin Xiao played golf for two days.

He said frankly that he was ready for retirement and had no sense of loss after leaving office.

"I was ready for it. I began to turn my energies to research several years ago."

He wondered at the sudden concern that the outside world seemed to pay attention to him. It was not a speech before a college graduate. Please, he did not think about the "modernity program" in China's social pformation for two days. Why did he explode the name because of the spread of the Internet, especially micro-blog? Afterwards, someone reminded him, do you want to pay attention to the occasion, not to be so sharp.

For this kind of goodwill, Qin Xiao further rewarded with "sharp". "I don't think I have yet to speak with Premier Wen." I also deliberately removed some sensitive and sharp matters.

As a leader of state-owned enterprises in charge of hundreds of billions of assets, Qin Xiao's speech is indeed quite well placed. He once said that "the SASAC itself is neither fish nor fowl". He thought that the government should quit the market and the state-owned enterprises should perish in the long run. As a descendant of the red family and the elite, Qin Xiaobu criticized the government carefully, and spoke carefully of the "Chinese model", claiming that public concern is the responsibility and mission of the public intellectuals.

British liberalism thinker Isaiah Berlin has said a classic metaphor: "fox knows a lot of things, but hedgehog knows a big thing."

This theory comes from the ancient Greek fables. The fox is clever and cunning but not concentrating. Hedgehog simplifies the complex world into an idea or system, such as Freud's subconscious, Darwin's natural choice, Einstein's theory of relativity.

Qin Xiao is like the hedgehog.

He went through the two big state-owned enterprises of CITIC and China Merchants Bank, but he continued to challenge the system. He called himself a "reform school within the system".

He operates diversified businesses such as pportation, real estate and finance, but it does not prevent him from sticking to the study of modernity in China like hedgehog.

Edge: Tibet and dew

Qin Xiao was born in the red revolutionary family.

When the tide of the times struck, he and his generation were deeply involved.

Qin Xiao's high school reads Beijing's fourth middle school, which is a school where cadres and children gather.

He and his close career partner Kong Dan (currently chairman of CITIC Group) and Kong Dong (Chairman of the current Air China) are classmates.

In 1966, "Cultural Revolution", they became "Red Guards" and were elected as young leaders of the moment.

He seldom recalls the past, but the brand of the age is indelible.

"We received idealistic education from an early age, learning the course of modernization in China and pursuing the modernization of China, so we have a strong national and national complex."

If we look at Qin Xiao from the role of "era elites", his later strength and pride can be understood.

As a member of the "three years", Qin Xiao once entered the bottom of the society and learned about the hardships of the people in Inner Mongolia. After the reform and opening up, he went into Zhongnanhai, served as a secretary of the central leadership, and saw the operation of the state machine. Later, from the vice chairman of CITIC Group to the chairman of China Merchants Group, he was 50 years old and studied for Ph.D. in economics at University of Cambridge.

But he hated reporters asking him about "the most..."

The problem, he said, "I pay more attention to everyday things."

From 2001 airborne to China Merchants board as chairman of the board, in the ten years of Qin Xiao's holding, the China Merchants Group has surged from a state-owned enterprise with a total assets of 49 billion 600 million yuan, liabilities of 23 billion 300 million yuan, and being on the verge of paralysis, to become a huge carrier with an asset scale of 270 billion yuan and running well.

"The world knows Ma Yuhua, and Qin Xiao is not the big one."

A state-owned enterprise chairman said.

Qin Xiao is a strong "mother-in-law", emphasizing the leadership and control power of the group headquarters to its subsidiaries. He did not hesitate to sell his shares because he had no control over China Ping An. He finally rejected the listing mode of China Merchants Bank as a whole financial platform.

If we observe Qin Xiao solely from the coordinate system of the leaders of state-owned enterprises, he may be a bit of a vested interest.

China Merchants Group enjoys the status bonus of state-owned enterprises, but he tore off the label of non marketable official labels. He believed that SOEs should be gradually dispersed to the society and the public. "I think the problem of state-owned enterprises in the next 30 years should be solved, and we should not be so old."

But if we use the coordinate system of scholars, it is not difficult to understand his rationality.

In the 1980s, Qin Xiao was once a believer in "new authoritarianism" and supported the government led economy.

But after the Asian financial crisis in 1990s, Japan's economy and the myth of four little dragons in Asia shattered his concept.

In his introspection, he gradually changed his mind and believed that the government should withdraw from the market and return to the role of providing public goods and maintaining order.

In academia, the directors of Qin Xiao and Wu Jinglian, Aoki Masahiko, and Bo Yuan Foundation (his research institution registered in Hongkong in 2007) have been well informed in academic field, but in the circle of entrepreneurs, Qin Xiao has not been able to get the same way.

"There are so few friends in the entrepreneur that they do not pay much attention to these public problems. If you talk to him, he is interested in listening, but he is not very concerned about himself."

A few years ago, when Qin Xiao first thought about modernity, he had a talk with his friends. Sometimes he called up a friend in the middle of the night.

But there were only a few of them who had been frustrated.

Qin Xiao also worries about the economic growth that China has achieved.

"At the expense of economic growth, what is the cost of it? Who is the growth of financial assets? Is it a fair distribution after the financial assets? These questions can not be answered."

However, "the elite must spread these problems."

The experience of wandering in the system for many years enabled him to know when to hide his strength.

For example, he called himself a "reformist in the system".

You see, this is an ingenious interpretation of the position that represents both the position and the risk. "I like to be a reformist in the system or quasi system.

I am certainly not willing to go outside the system to attack the system alone, nor do I agree with it.

I hope that some people in the system can speak out now, because at least we are concerned about our own institutional reform.

At the same time, Qin Xiao also knows how to "reveal" strategically.

In Tsinghua and Central Party Schools' speeches and recent interviews, Qin Xiao's comments on the "China mode theory" have greatly increased the popularity of the yuan yuan foundation, and he has also gained a lot of feedback.

Whether he agrees or not, this is exactly what he promoted the development of the foundation. "We hope to promote more elites in China to understand problems and reach consensus."

Since the late 90s, the consensus of reform has basically broken down. Now we need to repeat the issue of consensus, and the elite and the masses interact with each other, so we are going to do our work.

When he was speaking in Tsinghua in July, Qin Xiao talked about the public concern of the public intellectuals. After more than two months, he deliberately avoided the address: "China does not like the word" public intellectuals "much.

Since people don't like it, don't add it to me so that people will not regard me as an alternative.

At the end of the interview, Qin Xiao went into the elevator, and then repeatedly told us: "you should not be too anxious, too radical, and leave the time for the government to think and reach a consensus."

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"People have many roles. You have to distinguish roles."

In the 2.5 hour interview, Qin Xiao showed two Qin Xiao.

One is a conscientious scholar.

Qin Xiao spoke freely about RMB appreciation, real estate, demographic dividend, market mechanism and public affairs, and was willing to share the process of establishing and correcting his own ideology.

He said that the modernization that we advocated in the past 30 years is actually a single economic affluence. It is simply that the country is rich and strong, but modernization is a multi-dimensional modernization of culture, rule of law and values.

"This society also needs matching value clarity and the rule of law system to support, ethics and humanities are not enough, the pillars of the market economy and the pillar of the rule of law, the pillars of value are three indispensable pillars."

"When I am a citizen of this society, as a citizen of this society, as a well-educated person, I can express my views on the society.

What is politics? Politics is public affairs.

What is public affairs? It is a matter of public opinion.

The other is a typical entrepreneur.

When he switches to this identity, his desire to express will be folded up.

Speaking of the Investment Promotion Bureau, Qin Xiao, unlike the leaders of general state-owned enterprises, is eager to use digital bombing to prove that the operation of the enterprise is effective. Rather, it first introduces the methodology of enterprise valuation such as labor productivity and growth. First, it points out that the net profit of China Merchants will be over 10 billion yuan in 2011. "In recent years, the profit growth rate of China Merchants has exceeded the growth rate of net assets, and the growth rate of net assets has surpassed the growth rate of total assets. This shows that this enterprise is not entirely dependent on borrowing, relying on scale and resources, but more on labor productivity, technology and human resources."

"When I am a leader of state-owned enterprises, I have to follow the interests of the enterprise and make the enterprise as competent and competitive as possible within the scope permitted by the law. For example, when I buy an enterprise, it is a foreign company or a private enterprise. When I sell an enterprise, whether the state-owned assets are contracted or not is a question that I must stand on the standpoint of an enterprise."

Qin Xiao, who said the state-owned enterprises should disappear, is also the Qin Xiao for the Investment Bureau.

In 2002, China Merchants ordered Japan's VLCC (super large tanker). Chen Xiaojin, general manager of China Shipping Group, came to ask Qin Xiao, "why don't you order my boat?" Qin Xiao said, "you can make a price."

Qin Xiao did not plan to help brother state enterprises without the bottom line.

He told Chen Xiaojin that the price I ordered in Japan was 63 million 800 thousand dollars.

Chen said that the Chinese boat had to sell 75 million.

Qin Xiao added that Japan is about one and a half years of delivery.

Chen said, my delivery date will be 2 years.

Qin Xiao said, "you can't blame me."

In January 2010, the two merchants were pferred from the VLCC Kai AI wheel and the Kaiyuan wheel, which were respectively built by the Japanese universal Ming shipyard and the Dalian heavy industry group. Qin Xiao led the team to Japan and Dalian respectively.

As a result, there were more than 30 defects in the construction of the merchant boat, and the shipyard equipment of Dalian heavy industry was updated and better than that of Japan. However, the ship was picked up more than 130 faults.

Qin Xiao has a good idea.

"These more than 130 problems, apart from individual technical reasons, are mostly achieved but not done. If we do fine work, we can do well.

This is what we talk about meticulous management, which is the gap.

In February 2010, at the group working conference, Qin Xiao told the management of the China Merchants Bank through this story.

"If we want to know what I am worried about and what things I am thinking of, that is, whether we can build up the dividend of labor productivity while eating growth dividends."

Besides shrewdness, Qin Xiao also has a strong scholar spirit.

"I have strong theoretical preferences."

In the middle of 1990s, after entering the top level of CITIC Trust, Qin Xiao began to study, hoping to make a systematic reflection on the history, mode and structure of CITIC from the theoretical level.

In September 1994, Qin Xiao delivered a logical speech draft at CITIC working conference.

"I will write a few thoughts on the reform of the internal management system of CITIC company, from where the problems exist and how the reform path should be designed now."

In his speech, he made special mention that CITIC reform should start with strengthening the functions of headquarters.

The speech and subsequent restructuring were seen as a panacea for CITIC success in building a comprehensive financial platform and avoiding the Asian financial crisis.

"The foundation of economics is microeconomics. Microeconomics is the study of enterprises as producers and individuals as consumers."

Qin Xiao said.

In 1997, he began to pursue his Ph.D. in economics at University of Cambridge. He wrote a doctoral dissertation on the management of CITIC.

In January 2001, Qin Xiao entered the Investment Promotion Bureau.

Unlike Yuan Geng, Ma Mingzhe and other business managers rooted in Shekou, Qin Xiaogeng, rather than relying on commercial intuition, is willing to seek economics for the governance of a vast commercial empire.

In China Merchants Bank, he did not simply copy the process of pforming CITIC.

"History is not a blank sheet of paper. We must start with stock."

This stock not only refers to the 50 billion yuan assets scale of China Merchants, but also the severe financial difficulties after the Asian financial crisis.

CITIC once used financial holding group as its development goal, while in China Merchants Bank, Qin Xiao chose three main industries: finance, real estate and logistics according to the stock principle.

At the same time, at the same time, Qin Xiao emphasized debt reduction in the basic management model, quickly sold Ping An Insurance shares, and acquired port acquisitions, so that the adjustment of China Merchants could be carried out under a relatively flexible debt structure.

After arriving in China in 2001, Qin Xiao was also chairman of China Merchants Bank.

The Bank of China has held several board meetings. He found that the annual and semi annual reports of the existing governors are what achievements and shortcomings they have, but there are no quantitative indicators.

"I don't understand this."

Qin Xiao said.

He personally set up a valuation model with five or six important indicators for China Merchants Bank.

When he opened the board of directors, he asked, "your governor told us about the valuation model. According to the result of the valuation model, you explained to me why this is high and why it is low."

You probably can see some Qin Xiao's wrist control.

He said, "we will have this kind of meeting very efficiently."

This model subverts the simple gross profit measurement.

After a period of time, the board of directors of China Merchants Bank realized that there were three deficiencies in China Merchants Bank: excessive reliance on deposit and loan income, over reliance on large enterprises and retail business.

In 2004, Qin Xiao promoted the result structural pformation of China Merchants Bank. In the following years, China Merchants Bank successfully pformed into the best retail bank in China.

Hearing others say that they are strong and strong, Qin Xiao is a bit taboo: "I think my strength is more manifested in soft power."

He explained, "when people are divided, I generally do not want to use power to make a simple conclusion. I would like you to have a common understanding and then make decisions.

Soft power may not be reflected at that time, and it will be reflected in a long time.

Earlier, the board of directors of China Merchants Bank strongly hoped to be listed on the whole financial platform. Qin Xiao opposed it.

"I first use soft, they are also not very acceptable, but in the end, half soft and half hard to carry out."

"You have to use hard power to make many decisions. In the short term, efficiency is high.

Judging from the final effect, decisions under consensus can be carried out better and go further.

We do not want to have a strong government, nor do we want to have a strong visible hand.

This is a truth. "

When photographers photographed Qin Xiao, he pushed aside the extra chairs beside him. Qin sat alone at a long conference table. He was lonely, but he was like a king in a kingdom.

He has a dark complexion and a clear face. When you do not speak, you may think he is a humble dry old man.

As soon as he spoke, he spoke softly, peacefully, without any cadence, but he could not interrupt in a strategically advantageous position.

In the past ten years, Qin Xiao has scored "pass" for himself, "I have always beaten myself."

He added that "regrets" are "more specific business decisions, not big problems, and big mistakes."

We asked him what kind of like-minded people, he repeatedly refused to answer: "something controversial, I do not want to mention other people's names, it will not bring honor to others, it will cause problems to others."

He also refused to compare the similarities and differences of the two big state-owned enterprises in CITIC and China Merchants Merchants on the grounds that "if you work in a company for a long time and continue to evaluate it after leaving, it is not very good to compete with the head of the existing enterprise for the right to speak."

Qin Xiao is now willing to talk about China Merchants, but it is not far from the "seal": "merchants, I have not yet completely left, and when I leave, I will no longer comment on China Merchants."

The hedgehog wants to turn gracefully.

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[impression]

What else can tempt Qin Xiao?

He is good at go, golf, tobacco and tea.

Confucius said: "to aim at Tao, according to virtue, depend on benevolence, swim in art."

From CITIC to China Merchants Bank, Qin Xiao has completed his own upgrading as a leader of state-owned enterprises.

These two career changes, Qin Xiao did not leave any emotional waves to themselves.

"I feel more mature than I used to be, and the problem may be sharper and more sophisticated."

Qin Xiao will focus on the Bo Yuan foundation after retirement. He is pforming from a scholar entrepreneur into a more pure public intellectual role.

Qin Xiao, the chairman of the Bo Yuan foundation, summoned a group of social elites to understand China's political, economic, social and cultural institutional changes and international environmental changes in the past 30 years by academic means, and to explore the direction and path of China in the next 30 years.

He also accepted AIA as an independent director and served as director of the AIA audit committee.

"Keep a certain understanding of the market, otherwise you will be left behind."

A few years ago, Qin Xiao said in an interview with CCTV, "a person must be able to put it down and not look at it."

This time he told us, "I have always been vigilant: do not take things too seriously, success or failure are normal, we are also indifferent to the call, and the loss is also calm."

"I think the power is tempting, and the temptation has to be restrained.

If a man knows what is tempting, he should use it carefully. "

There are few things that can seduce Qin Xiao: weiqi, golf, tobacco and wine tea and academic.

Li Yadong, deputy director of the general office of China Merchants Group, told reporters privately that if you want to interview Qin general, you have to prepare a bottle of good wine. "Ordinary Moutai can't do that."

But you don't have to talk much at dinner table, otherwise the pressure is too great. He loves to study and understand everything. He has a very high level of problems he knows. "

When it comes to go, Qin Xiao obviously becomes happy, showing a rare little pride: "I am the four paragraph of Chinese amateur, the five paragraph of Japan!" he said he is now playing less, more are watching the match and broadcast on the Internet.

"Recently, I have made several rounds with Meng Cai, the deputy general manager of the real estate investment company. I find that I haven't fallen down yet."

Qin Xiao recalls the story of CITIC and kordan fighting in the same year, and his classmates were angry with him. "In 1997, we played ten games, and he lost nine.

At the end of the last round, he sealed up, and fought again overnight, and he won me.

Kong Dan always told others that he won't win after he won me. He didn't say he won me, but he lost the first nine games.

The man who was strong and balanced, when he asked him to stand by the window and take two pictures, jokingly complained, "do you still want to photograph? You've just taken so many pictures of my smoking and what's good for smoking."

When he was walking out of the conference room, we asked him, "what kind of people do you play golf with?" "all kinds of people."

What kind of people are you interested in playing with? "What kind of people are you interested in playing with?" Qin Xiao repeated the question and answered, "funny people."

He asked himself again and again, "what is a fun person? Good taste and humor."

Having finished, he crossed the door and drifted away.