Zhao Moshi stayed abroad but did not return, and his family had been abroad before him, and the few hundred million funds left in Pucheng Group's account were transferred out during Zhao Moshi's stayed abroad and disappeared - not to mention that the panic within Pucheng Group was rapidly growing and spreading, such sensitive news could not be completely blocked and not allowed to be known to the outside world.

Pucheng Electrical Appliances, Jianghe Phosphate Industry, Qianxi Chai Machinery and other three listed companies, as the market slowly fell in the morning, the securities market did not notice anything abnormal at first. By the end of noon, stimulated by the positive news of the central bank's interest rate cut, the Shanghai and Shenzhen index suddenly rebounded. Only then did the outside investors see that the stock prices of the three listed companies of Pucheng Group had lost support and showed no sign of reversing with the market index.

At noon, the news that Zhao Moshi was stranded abroad and did not return was widely spread, and it immediately caused a lot of trouble. In the afternoon, the stock prices of the three listed companies were directly called to sell orders to the limit.

There was no purchase order in, and countless funds that wanted to escape were blocked at the limit down, waiting for further news in despair.

Huaihai Securities may face a huge loss of up to 2 billion yuan due to the issuance of Pucheng's 2 billion "guaranteed income" fund, which is also called the funds that flee the way to the limit down.

Nearly 30 listed companies in Huaihai Province, including Meixi Holdings, Dongjiang Jinghua, Huaihai Steel, Lanshan Petrochemical and other companies, were affected by the news that Zhao Moshi and his family fled, and their stock prices fell sharply in the afternoon.

The debt problems faced by Pu Cheng are not completely unpredictable in the securities capital market. However, the speculative atmosphere in the domestic securities market is strong, and most investors want to make profits with a speculative mentality, regardless of the so-called risks and bubbles.

Often, once the bubble bursts, it will wake up, and the panic that breeds will become more serious.

No one knows how serious the debt crisis of Pucheng Group is, nor do they know how many companies in Huaihai Province are involved, and it has become an urgent task to escape.

It was initially determined that Zhao Moshi and his family were illegally stranded abroad. After the large amount of funds in Pucheng's account was transferred abroad, the Xu Urban Committee urgently convened a meeting of the Standing Committee and decided to establish a joint working group with the Provincial Securities Regulatory Bureau and the Provincial Public Security Department in the name of the municipal government. Xiong Wenbin took the lead in Pucheng and intervened in the handling of the debt crisis in a timely manner.

For a moment, the rain hit and the sky shook. In the afternoon, several phone calls directly to Shen Huai's cell phone to inquire about the news; Shen Huai naturally had no way to tell anyone.

Shen Huai rushed to Nanwan Lake Software Industrial Park in the afternoon to attend a symposium. Until the twilight, he had no time to pay attention to the latest trend of the Pucheng crisis.

As one of the cities with the most densely populated research institutes in China, Xucheng has rich human resources advantages in developing high-tech and software industries.

The construction of Nanwan Lake University Town was launched, and the first batch of Nanwan Lake Software Industrial Park was built, and more importantly, it was to promote the development of Xucheng City's software and information service outsourcing industry.

Xucheng also formally proposed the theme of incorporating the development of the "World Office" into the urban industrial development, so as to attract many giants from international information technology and software companies to settle down and develop in Xucheng.

The first phase of Nanwan Lake Software Industrial Park is being built at the fastest speed. Since April, more than a dozen software companies have moved in.

Chen Huai originally planned to find Huang Xinliang and the others to discuss the construction of the second phase of the Software Industrial Park. Now that the Pucheng debt crisis has been fully induced, the part that has surfaced is already scary. I don’t know how much will be involved in the end. The construction of the second phase of the Software Park may be forced to delay, and at present, we can only do the first phase of the investment promotion work as much as possible.

It was almost ten o'clock in the evening when Chen Huai received a call from Xiong Wenbin and found out that he had just left Pucheng Building.

Chen Huai took a bus to Xiong Wenbin's house. After waiting for a while, he saw Xiong Wenbin, who was tired and came back.

Xiong Wenbin sat down tiredly and wanted to take a cigarette from Chen Huai to smoke. He didn't know where Qiqi came out and snatched the cigarette from his mouth. He said in a coquettish voice: "Grandma said smoking is not good for health."

Xiong Wenbin was the most unlucky towards his granddaughter Qiqi, so he pulled Chen Huai to the yard to talk about things:

"When I was back home, Secretary Zhong called me temporarily, and I went around to Secretary Zhong's house to report the problems that were initially checked this afternoon to Secretary Zhong to know. In fact, there was nothing to say - I just started the investigation, what can I find out?"

Although Chen Huai and Xiong Wenbin have long been paying attention to Pu Cheng's debt problem and have collected some detailed information, Zhao Moshi's "accidental" escape complicated the problem.

Chen Huai and Xiong Wenbin could not claim to the public that they had noticed an abnormality in Pucheng Group, otherwise Xu Pei and Li Gu would have no way to explain why Zhao Moshi could successfully escape.

Even with the Provincial Party Secretary Zhong Limin, the truth cannot be revealed.

"Have Governor Xu called to find out the afternoon investigation?" Chen Huai asked.

"Not yet," Xiong Wenbin shook his head and said, "If you don't take action in advance, just watch Zhao Moshi escape, you may have to reduce the impact, right?"

Over the years, Pucheng Group has had a deep relationship with the Jijing Group, and Zhao Moshi is also very good at meeting friends.

In addition to Cao Zhengjiang and Zhao Moshi, Li Gu, Guo Chengze, Jiang Yibin, Meng Jiansheng, Pang Yunsong and others all had a deep personal relationship with Zhao Moshi.

Although most of the officials in Huaihai Province's Planning and Economic Affairs Department have no direct relationship with Pu Cheng's illegal fundraising and mergers and acquisitions, they are afraid of being involved in everything.

Now that Zhao Moshi fled, the illegal fundraising cases involving Pu Cheng still need to be investigated. Xu Pei will definitely get rid of the negative impact of this matter on him, but the involvement will not be disorderly and out of control.

Chen Huai guessed that Xu Pei's "intention" might be like this.

Chen Huai had no intention of thinking too deeply, and what he was more concerned about now was how to clean up the endgame.

"The three troops under Pucheng are all star stocks in the securities market. They not only involve tens of thousands of small and medium-sized shareholders, but also may induce more subtle trend changes in the securities market this year. How to deal with it in the end, Xucheng's opinions may not be the most important. What is the rumor that comes from the Provincial Securities Regulatory Bureau?"

"Someone suggested that the Xu City Government publicly refute the rumors first, calm the people's hearts and delay the situation for a few days to deal with it," Xiong Wenbin said coldly, but his tone also had a lot of helplessness. "These people are still thinking that the Xu City Government can come forward for them with fake news to support the stock price. They are convenient for them to escape, but they completely ignore the mess behind and ask the municipal government to deal with it. The people's hearts are so bad."

Chen Huai thought to himself that Xiong Wenbin was still angry.

There are too many gamblers in the domestic securities market, not only small and medium-sized investors, but also most institutional investors.

In addition to lending to Pucheng's large and small financial institutions and lending companies, many investment institutions directly participate in the stock operations of three listed companies under Pucheng, and this time they are all trapped in it.

These people saw that there was no hope of escaping the road, and it was not surprising that they had such thoughts.

Chen Huai pulled out the cigarette, lit it for Xiong Wenbin, and said, "The working group entered Pucheng Group. I believe that the general problem will be clear soon, but it is even more troublesome. This mess is not easy to clean up."

"We can only prepare for the loss in advance," Xiong Wenbin said, "Four prefecture-level urban commercial banks and Huaihai Securities, plus provincial state-owned enterprises, Xucheng state-owned enterprises, and large and small private lending companies. If the province and Xucheng fall into it this time, it may reveal a big hole of 80 to 90 billion. In addition, the loans borrowed by several state-owned commercial banks are not small. The province and Xucheng do not have to bear responsibility for the holes of several state-owned commercial banks, but in the later stage, several state-owned commercial banks will inevitably double their lending in Huaihai, which will have a greater negative impact on Huaihai..."

Huaihai’s current lending currency supply mainly depends on several national commercial banks.

Once several state-owned commercial banks suffer heavy damage in Huaihai, the management of provincial-level institutions stationed in Huaihai will be cleaned up, and the loan quota of several state-owned commercial banks to Huaihai will inevitably be greatly tightened in the future.

Without the lending of the State Commercial Bank, many engineering projects in Huaihai Province will be difficult to obtain sufficient construction funds, which will have a great impact.

Chen Huai sighed lightly and said, "Let's deal with it cold for a while. This mess really cannot be left to rot to the end. How to clean it up depends on how to compromise in all aspects."

It is inevitable that the huge losses caused by the Pucheng debt crisis will be caused, but the key is how to share the losses. Moreover, it is not easy to ask Cui Weiping, Hu Lin and others to catch the handle.

From the next day, the three listed companies, Pucheng Electrical Appliances, Jianghe Phosphate Industry and Qianxi Agricultural Machinery, have all suspended trading.

Although Pucheng Group is the major shareholder of these three listed companies, in addition to Pucheng Group and shareholders of large and small circulating shares in the secondary market, these three listed companies also involve multiple non-circulating shareholders.

The joint working group under the leadership of Xiong Wenbin, while investigating Pucheng's debt problems, was to work with other shareholders of the three listed companies to work hard to maintain the company's daily operations first.

For financial institutions that lend huge amounts of money to Pucheng Group, Pucheng Group holds shares in three listed companies and is the most important loan collateral.

Whether the listed company can maintain normal operations and whether it can successfully complete the cutting with Pucheng Group are the keys to reducing losses and controlling the impact.

However, factors involving people's hearts and morale cannot be simply saved by hard work.

The three listed companies of the Pucheng Group can be suspended for indefinitely during the investigation, but Huaihai Securities cannot enjoy such treatment. They only have one day suspended for trading and then traded again.

In just two weeks, Huaihai Securities, which was once a provincial celebrity listed company, shrunk its market value by more than three-quarters, dragging down the stock prices of listed companies in all sectors of Huaihai Province to fall from 10% to 50%. Even listed companies such as Meixi Holdings and Lanshan Petrochemical, which belong to the Meigang Group, were unable to do so, and their stock prices were significantly lowered.

Financial institutions and enterprises involved in loans to Pucheng can still be more at ease.

Private lending institutions involving the Pucheng case were severely damaged by this. They either went bankrupt or maintained in a miserable manner, or the person in charge fled with the money, and involved more than tens of thousands of borrowers involved in illegal fundraising. Together with heavily damaged shareholders, it became the most troublesome problem in Huaihai Province at the moment.

***************************

Chen Huai has never participated in the handling of the crisis. It was not until late July that Xu Pei called him to the office.

Although Chen Huai can also see Xu Pei frequently showing his face under the news camera during this period, only by walking into Xu Pei's office and looking at him up close can we see more clearly that he was so anxious and exhausted that he was aged more than ten years old during this period.

"The investigation of the Pu Cheng case has already reached a preliminary conclusion. Next, it will be handed over to the procuratorate to further collect evidence to facilitate the criminal responsibility of the relevant persons." Xu Pei talked straight to the point of view about the Pu Cheng case. "The next thing is to clean up this mess and not to destroy the great development situation of Huaihai. But now that the one who can clean up this mess is Huaihai State-owned Assets - the preliminary investigation has also been done with Pu Cheng, and Pu Cheng still has some wealth..."

Chen Huai pondered for a while and said, "I don't know much about the specific situation yet. I don't have the confidence to take on the burden if Huaihai State-owned Assets can bear the burden..."

Xu Pei stared at Chen Huai's face for a few seconds, and finally knew that he could not force Chen Huai to take over this mess.

The Pu Cheng case had a huge blow to Xu Pei's reputation. Except for Xu Pei's personal hope that Huaihai State-owned Assets could take over the mess left by Pu Cheng, other members of the Party Leadership Group of the Provincial Government were worried that this action might lead to the crisis caused by Pu Cheng's entire provincial state-owned Assets system.

Once this is the case, it will be a fatal blow to the entire economic development situation of Huaihai Province.

Xu Pei could neither convince the provincial government to hold a unified opinion nor persuade Chen Huai and Huaihai State-owned Assets to take the initiative to take responsibility. However, when he was discussed at the Provincial Standing Committee meeting, the opposition attitudes of Cui Weiping, Chen Baoqi, Dai Lesheng and others were even more conceivable.

"Okay, then your party group members will study this matter first, and the province is not in a hurry to reply." Xu Pei had no choice but to say so first.

Although Jiang Yibin also served as chairman and secretary of the Party Committee of Huaihai State-owned Assets, if Chen Huai actively cooperated, Xu Pei knew in his heart that forcibly stuffing the mess to Huaihai State-owned Assets, it is likely that what he would have ruined would be a bigger mess.

******************************

After leaving the provincial government building, Chen Huai did not rush to get on the bus. He stood by the parking lot and lit a cigarette.

I don’t know where Li Gu came out and came over to ask for cigarettes.

"You still haven't let go." Li Gu spat out a sip of smoke and said leisurely.

"How do I let go?" Chen Huai smiled, "I finally managed to control the impact of the Pu Cheng case, aren't you afraid of dragging Huaihai state-owned assets in?"

"Can Huaihai State-owned Assets be so fragile?" Li Gu asked helplessly.

"How many people will be able to solve this time?" Chen Huai asked Li Gu a different question.

"The Provincial Securities Regulatory Bureau, the Financial Office is a gang. In addition to illegal fundraising, Pu Cheng's participation in the Xinjiang River Phosphate Industry and Qianxi Agricultural Machinery Reorganization have some problems. In addition, in addition to some local officials, the Huaihai Securities Association also involves Ding Jianguo," Li Gu smiled disdainfully and said, "This is just a preliminary conclusion..."

Chen Huai knew that the preliminary conclusion Li Gu said was that when the influence no longer continued to expand, the involvement would be controlled to this extent. Cui Weiping, Chen Baoqi and other Hu officials were still invisible behind the scenes like poisonous snakes, and would never underestimate the poisonous fangs that were about to be stabbed out.

"Zhao Moshi is a man who is eager for quick success and instant benefits. Private enterprises also have natural defects. But Pucheng Group has made contributions to the Huaihai economy over the years," Li Gu pulled Shenhuai to smoke under the shade of a big tree on the side of the parking lot, and said, "Let's talk about Pucheng's mergers and acquisitions in recent years. Many companies merged into Pucheng's subsidiary. These companies had some problems in their operations before, otherwise it would not be so easy to let go in the local area. Pucheng's integration cannot be considered successful, but the operating conditions of these companies have improved somewhat, at least not worsened. Although Pucheng's holes are a bit big, Pucheng still paid out the tens of billions of mergers and acquisitions funds, and actually fell into the local pockets for infrastructure and people's livelihood, used to support local economic development, and contributed to improving the local landscape, and did not waste it..."

"Well, you must give Pu Cheng a score. If you have to pay off your merits and demerits, you will never be negative. This will not be a negative one because I don't want to fight against Zhao Moshi's personal relationship." Chen Huai said with a smile.

"The three listed companies will relist and trade in two days and cannot be suspended all the time. Once they are relisted, the stock prices of the three listed companies will definitely continue to fall. The market value has shrunk by half, and even less than a quarter of it is as low as Huaihai Securities. However, the foundation of the three listed companies and other assets of Pucheng Group outside of the listed companies is still there and they have not been broken. Now they are just short of individuals to stand up and try to win the will." Li Gu said.

Chen Huai smiled bitterly and said, "Secretary Zhong will retire in less than two months, and Governor Xu will most likely not be able to replace Secretary Zhong. The entire Huaihai Province will change its position. Don't say that I don't have this ability, even if I have some trust, you will let me stand up and turn the tide at this time, but push me into the fire pit?"

If Pu Cheng hadn't had the case, Xu Pei might have replaced Zhong Limin as the provincial party secretary. Now all this has become empty. In two months, the situation in Huaihai Province will change drastically.

Xu Pei may not be able to hold the position of governor. The new provincial party secretary who replaced Zhong Limin was probably from the Hu clan. At that time, the Hu clan would dominate the family in Huaihai. How could Chen Huai go forward without knowing how to sympathize with Xu Pei's situation?

Now he has to consider how to deal with the situation where the Hu clan dominates in Huaihai in the future.

Li Gu sighed softly in his heart. Others only saw Chen Huai's arrogance and domineering arrogance, but it is difficult to guess that he has carefully sought balance between the Ji Jing Group and the Hu Group in recent years and sought development space for the Mei Steel System. If you want to blame, you can only blame Pu Cheng Case for causing the Ji Jing Group to lose too much chips. This is actually called Chen Huai and the Mei Steel System losing the space to get along with each other.

Before Cui Weiping, Chen Baoqi and others made a clear statement, Chen Huai's attitude was restrained and conservative, which only showed that Chen Huai was more calm and mature in the cracks of the faction.

"It was not Governor Xu who asked me to come to you to say this," Li Gu said. "It was Secretary Tian who hopes you can take more responsibility for Huaihai..."

"ah……"

Chen Huai has no sympathy for Xu Peijue. Without Xu Pei's support, Pucheng Group has not been able to carry out such a radical merger and acquisition in the past two years. Xu Pei's support is meaningless that he does not want to see the Meigang Group and Rongxin Group enjoy the greatest achievements of Huaihai's economic development. It is Xu Pei himself who lost the great situation of Jijing Group in Huaihai. Why did he take responsibility for Xu Pei?

But Chen Huai didn't realize that Secretary Tian Jiageng still hoped that he could make a difference at this time.

Chen Huai could guess that the Pu Cheng case caused great disturbances within the entire Jingjing Department. He had made up his mind to stand by, but he could not bear to let down Secretary Tian’s expectations for him.
Chapter completed!