Reborn as a Noble’s Son
Chapter 1117 - Chapter 1117 Chapter 1073 Emancipate the Mind

Chapter 1117: Chapter 1073: Emancipate the Mind Chapter 1117: Chapter 1073: Emancipate the Mind Nie Zhenbang’s words seemed ordinary, but the dissatisfaction within them was still audible.

At this moment, Song Zhongguo too came to his senses. This was not a factory committee meeting, nor was it a discussion with the leaders of the State-Owned Assets Supervision and Administration Commission. Those present were provincial committee leaders, and moreover, they were led by the top leader.

Indeed, his words from before did have an imposing force, a form of obstruction. This wasn’t an excuse; facing obstructions, as the factory leadership team, you should clearly explain the purpose of the restructuring and its future to the workers. You should strive to do ideological work among the workers, rather than casually mentioning obstacles here.

Furthermore, Secretary Nie’s words carried a strong dissatisfaction and a commanding attitude.

“Old Song, what do you think would be an appropriate way to restructure?” This question looked simple, but carried profound implications.

The attendees were not only the vice governor in charge but also other provincial committee leaders, leaders of the State-Owned Assets Supervision and Administration Commission, and heads of relevant departments and bureaus. How had it come to his turn to decide on restructuring when the Red Textile Factory was drowning in debt? This was a warning.

Song Zhongguo’s complexion darkened, but he bowed his head and said, “Secretary Nie, everyone at the Red Textile Factory is eager to complete the restructuring as soon as possible. Our factory leadership team will definitely obey the provincial committee’s unified deployment and coordination, work pragmatically, and ensure that the restructuring proceeds smoothly.”

Song Zhongguo was somewhat astute and understood; he did not foolishly speak out about issues of restructuring.

This also somewhat soothed Nie Zhenbang’s anger. Nie Zhenbang looked up, surveyed the crowd, and then said, “Comrades, I have just listened to some of your opinions. I have gained a deeper understanding of the Red Textile Factory’s situation, including its financial and production conditions. One feeling it gives me is that the Red Textile Factory has already gone bankrupt.”

This opening remark did not surprise anyone. In fact, if the Red Textile Factory weren’t a state-owned enterprise, if it weren’t for the support of provincial finances, it would have gone bankrupt long ago.

In a fully marketized competition, a company that had been losing money for over a decade and whose debts exceeded its assets would not be able to exist.

The meeting room was deadly quiet, nobody dared to speak. Nie Zhenbang’s prestige in the Hongjiang River region was not mere boast; from Liu Yong to now, it was earned through solid actions – this was Nie Zhenbang’s confidence.

Looking around at everyone, Nie Zhenbang continued, “Today, it is undeniable that the Red Textile Factory has become a burden for the province. It cannot continue to rely on government financial support or on loans to survive; this does not conform to market rules. In today’s market economy, restructuring the Red Textile Factory is absolutely necessary.”

“Just now, Comrade Song Zhongguo said that the leadership team and all the workers of the Red Textile Factory lean towards restructuring into a joint-stock company, but they have reservations about introducing capital, about attracting investors, and are even opposed to it. I would say that this is parochialism; it is shortsightedness.”

Nie Zhenbang unabashedly criticized the leadership team of the Red Textile Factory. According to the information gathered, it was undeniable that the leadership team had great prestige in the eyes of the workers. They were a clean and honest leadership team, but not a competent one.

Seeing Song Zhongguo and others, Nie Zhenbang continued, “Perhaps, you feel wronged, or perhaps, you think my words are biased. However, I must say that your resistance to foreign investment stems from fear. You fear that after others come in, they will fight with you for power and profit, and the workers fear that foreign investment will harm their interests. This is the influence of parochial protectionism at play. It is regression.”

“If the Red Textile Factory could unite and revitalize itself, if it could turn losses into profits, then all would be well. But after so many years, despite the technical upgrades, introduction of new equipment, and product updates, what has been the outcome? The Red Textile Factory is still languishing, still suffering losses year after year. With this in mind, what right do you have to discuss these matters? Under these circumstances, my opinion is very clear: restructuring the Red Textile Factory is absolutely necessary. During the process of restructuring, if anyone has any ideas, good, come up with a plan. If you have the ability, if you can ensure that you lead the Red Textile Factory to turn a profit, then we can talk. If you haven’t got the diamond, don’t take on the porcelain work.”

These words represented Nie Zhenbang’s determination: restructuring the Red Textile Factory had become imperative. Not to mention anything else, just this year’s loan repayment of 120 million was a headache–could the Red Textile Factory afford it? Of course not. In the end, this loan naturally fell on the shoulders of the provincial party committee and government.

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Now, the problem with the Red Textile Factory is a typical case of “when a son spends his father’s money, he doesn’t feel the pinch.” Coupled with the fact that the leadership team really does have limited ability, they lack the capacity to turn the Red Textile Factory from loss to profit. This has created a vicious cycle.

Yet, the provincial authorities cannot simply ignore the issue, for if they do, it will certainly lead to major problems. When people’s livelihoods are under tremendous pressure, the associated dangers are obvious.

In addition, if ignored, once banks apply to recall their mortgages, then a domino effect will occur, with other banks following suit, and the only outcome facing the sprawling Red Textile Factory would be bankruptcy and liquidation.

Having said this, Nie Zhenbang pondered for a moment, then turned to Zhou Chuanjia and said, “Comrade Chuanjia, you will personally take charge of the Red Textile Factory’s joint-stock reform working group. Combine forces with members from the relevant managing departments and the leadership team of the Red Textile Factory. Starting from today, immediately begin the property liquidation of the Red Textile Factory. Prepare the asset evaluation for the following joint-stock reform process. Moreover, comrades from the Ministry of Commerce should also be involved in the working group, responsible for coordinating the work of attracting investment. At the same time, it is necessary to do a good job in the ideological work of all the staff at the Red Textile Factory. We need to accelerate the change in thinking; involving investors does not harm everyone’s interests–everyone is a shareholder and has the right of supervision and management. In this regard, there is no difference between the employees and the investors, and there can be no possible exploitation. This point, in particular, must be made clear to the staff. We need their recognition.”

At this, Nie Zhenbang concluded, “In the process of reforms and opening up, in the progress of state-owned enterprise restructuring, it is inevitable that there will be some difficulties, some growing pains, which is quite normal. It’s like having a problem with one’s limbs. If you have to replace a rotten arm with a healthy one, pain is unavoidable. The liberation of thought is crucial; temporary difficulties and pain are all for the future joy and sweetness of success.”

Following Nie Zhenbang’s inspection of the Red Textile Factory, the restructuring of the factory also began in an orderly manner.

Three days later, Zhou Chuanjia, along with the State-Owned Assets Supervision and Administration Commission, the Audit Office, the Department of Finance, the Department of Commerce, and other relevant departments, attended a meeting at the Red Textile Factory. The Red Textile Factory stock reform preparatory working group was officially established.

The first to move in was the property liquidation group. This is a critical aspect of the joint-stock reform. How much property the Red Textile Factory currently has will directly affect the determination of the future number of shares.

At the same time, within the Red Textile Factory, rumors about the joint-stock reform spread, and the workers began to feel uneasy.

Now, in the Red Textile Factory, if one were to take a look around the residential area, it was common to see groups of three or five or even more than a dozen or twenty people gathered together to discuss the factory’s restructuring.

Inside a plain building in the residential area of the Red Textile Factory, on the third floor, was a three-bedroom apartment with decorations that were still in the style of the mid-nineties. It was clear that by current standards, it was outdated.

This was the home of Song Zhongguo. As the leader of the Red Textile Factory, Song Zhongguo was competent, incorruptible, not taking even the slightest advantage of the public purse, and dedicated and responsible in his work. At over fifty years old, he already had a head full of white hair, a sign of worn-out energy.

However, Song Zhongguo was not an outstanding leader. A leader should not only qualify personally, but more importantly, they should be able to manage the enterprise well, to make it thrive, and ensure that the lives of all the workers are prosperous with bulging wallets. From this perspective, Song Zhongguo was unqualified.

“Old Song, looking at it now, the factory has caused a significant reaction among the masses. Everyone has some worries and concerns about bringing in investment. If it continues this way, I think it’s only a matter of time before problems arise,” a man in his fifties said to Song Zhongguo.

This statement made Song Zhongguo frown. He was well aware of the attitude of the workers at the Red Textile Factory and knew what they were worried about. Decades as a state-owned factory had inevitably led to the presence of some parasitic individuals. Once the restructuring takes place and the true market mechanism enters, it will undoubtedly be a blow to these people.

In the past, Song Zhongguo had considered the face of old colleagues and friends and could not bear to act decisively. But now, he could no longer afford to hesitate.

After pondering for a moment, Song Zhongguo said, “Looking back now, I realize I am not a qualified leader; my heart is too soft. I haven’t been able to be just and fair; as time goes by, doing more or less the same, seriously undermining the enthusiasm of the people. I bear responsibility for the Red Textile Factory’s situation up to now. Secretary Nie is right–so long as we can revive the Red Textile Factory, what does it matter if I am no longer the factory director?”

Having said that, Song Zhongguo stood up and said, “Please notify the entire factory leadership team, leaders of each branch factory and workshop directors, and middle-level managers of various departments, to meet at the factory auditorium.” (To be continued. If you like this work, you are welcome to vote for it at Qidian (NovelFire.net) with your recommendation votes and monthly votes. Your support is my greatest motivation.)

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