"These old guys have a really big appetite, so they are not afraid of choking..."

Sun Yalin never had any respect for the elders of the Sun family. She wanted to pretend to be a grandson in front of her and accompanied her to visit the family group all day long. She was also very tired. When she returned to the room, she had to complain and slander.

Chen Huai sat next to Cheng Yi and yawned.

He didn't sleep well with Cheng Yi last night. Cheng Yi could sleep in early morning. He had to rush to the county and approve the stack of documents accumulated over the past few days. Although he turned down several less important meetings, he would rush back to accompany his grandfather, grandma and the Sun family to visit Hongji Changqing's factory in Xinpu and Xinpu Port in recent years. After this day, he would be more tired than Sun Yalin, Song Hongjun and others, and his calves were sore and swelling.

Cheng Yi sat on the handrail of the sofa, her arms gently pressed against Chen Huai's shoulders, and sat next to him. Looking at his tired face, he reached out and gently stroked the stubble on his chin. Listening to Sun Yalin complaining there, he thought it was no wonder that the conditions proposed by the old man of the Sun family were too harsh. Although Sun Yalin was born in a family, she had been self-employed for a long time and had no intention of being controlled by the Sun family anymore. How could she give up Zhongxin's controlling rights?

After returning to the hotel, everyone was full of food and sleepy.

The elders of the Sun family are all 70 or 80 years old, and they don’t need to accompany them at night. Chen Huai was chatting with Sun Yalin and Song Hongjun in the room, and planned to go back and rest with Cheng Yi.

Sun Qishan knocked on the door and came in.

Seeing that Chen Huai and the others were still sitting in the room, Sun Qishan closed the door, looked at his daughter, and asked her: "Your fourth grandfather can define the conditions today. Is it true or not? You also need to give a response..."

"You can't open your bloody mouth for the fourth grandfather. I will really put my arm over and bite him?" Sun Yalin sat on the sofa, complaining lazyly. She dared not be so arrogant in front of her father, but she would not cover up her dissatisfaction. "You know Mei Gang's equity structure. If the fourth grandfather had 200 million US dollars three years ago, we would have no qualifications to discuss except for surrendering. Now, if we can't agree, we can't agree..."

Chen Huai laughed. Although they are still trying every means to raise development funds, they have passed the stage of giving up their core interests at a low price to share with others.

"You are calling your wings grow hard..." Chen Shan sat down with a smile and said.

"Grandpa, if you are with my dad, we must accept the conditions of the fourth grandpa, and we will also recognize it..." Sun Yalin said.

"Without your support from grandpa, Meigang will never be able to develop to its current scale. You are the real stabilizing force of Meigang. You are the final decision of Meigang in the future. How Meigang will go in the future is still the final decision." Chen Huai also said sincerely.

"Don't get involved in these things, you decide for yourself," Chen Shan shook his head and said, "I'm here to tell you something else."

"What do you want to say?" Chen Huai asked.

"A person lives a hundred years and his life is over. Your grandma and I have been used to living in France over the years and don't want to go back to settle down. I'm afraid I've been back a few times when I go back. Some things have been considered. Returning to China this year is finally a clear idea, so I'll tell you..." Chen Shan said.

Chen Huai thought to himself that grandpa, grandma had no intention of returning to China to settle down, probably because of the blow of this trip to northern Yunnan. He could only respect the two old men's decision, but when he heard his grandpa's tone was very serious, he didn't know what important decision he had to talk about. He held his hand, sat on the sofa together, and listened patiently to him.

"You and Cheng Yi have no intention of inheriting the property of my grandma and your grandma. My grandma and I want to set up a foundation in the name of your mother. It is a pity that the Sun family's family funds cannot be divided, but we just thought that the 30 million US dollars we took out were replaced with corresponding equity and placed under the name of this foundation. The subsequent income will be mainly used to support the development of Zhujiang University of Science and Technology... The so-called "Ten Years of Trees and a hundred years of tree people, we can live for another ten or eight years, and we are very satisfied. While there is still some time in life, we want to do something meaningful when we have the ability. Of course, you and Cheng Yi agree to this."

Chen Huai glanced at Cheng Yi, held his grandfather's thin hand tightly, and said, "You and Grandma are so decisive, why can't Cheng Yi and I support you?"

Today, European and American societies all impose a high proportion of inheritance tax on inheritance; if billions of property want to pass it on to their descendants, they will usually shrink by more than half after levying an inheritance tax.

Legacy that exists mainly in the form of corporate equity cannot withstand such divisions and tossing.

In order to avoid the division of family property by the inheritance tax system, wealthy families in European and American society usually place their property into privately controlled welfare foundations, which in name is donated to charity, so as to avoid the division of inheritance tax.

This kind of foundation is nominally a public welfare nature, but only needs to donate at least 5% of the total amount of funds for public welfare and charity every year, which can ensure that the huge wealth under the foundation is always controlled by the descendants of this family.

The Sun family’s family funds are almost of this nature. The members of the fund board are all heirs, who jointly decide on the fund and manage investment and public welfare affairs, basically ensuring that the fund is always controlled by the descendants of the Sun family.

If you don’t do this, after two or three generations of inheritance, Changqing Group has long been out of control by the Sun family, and the Sun family has long been in chaos. How could there be the climate today?

Even if Chen Huai and Cheng Yi want to inherit the property left by their grandfather in the future, they must first cut away more than half of the meat from the French government's inheritance tax system.

In the current situation, inheritance tax is not imposed for the country, but this is also the general trend. If a society wants to prevent serious imbalance from continuing, it is impossible for a family to gather wealth unlimitedly like snowballs, and it is impossible for the profit-willing class to expand unlimitedly.

If grandpa and grandma want to transfer their overseas wealth to China, the ideal way Chen Huai can think of is to establish a charity foundation.

At the same time, after the establishment of Zhujiang University of Science and Technology, a continuous huge amount of capital investment will be required to truly take root and develop.

Zhujiang University of Science and Technology, Xiapu County Government is only one of the investors and does not belong to public universities in essence. The subsequent construction can be jointly invested by Xiapu County Government, but school management cannot rely on public finance to withdraw funds; after the foundation is established, part of the school management funds can be provided steadily.

Chen Huai also wanted to make greater progress in his career, so he could not directly hold equity in Meigang. However, the foundation is nominally a public welfare nature, and he will eventually inherit the control of the foundation fund. In fact, the part of the equity corresponding to Meigang will be directly controlled by him, which will also help him strengthen his control over Meigang.

For Chen Huai, this is actually the most ideal way for him to inherit his mother and his grandfather and grandma's property in the future.

If his descendants have the ability, they will naturally be able to do something through this foundation; if they do not have the ability, they can still get a high salary from this foundation and wait for death. Just like many Sun family children now receive money from family funds, there are also Sun family children like Sun Qishan and Sun Qiyi who enter companies controlled by family funds to take important positions and obtain corresponding social status.

Chen Huai thought about his grandfather and the two old men who had been traveling to northern Yunnan, and they were particularly tired. He did not expect that they would have been considering him for the past few days after they came back from northern Yunnan.

Sun Yalin smacked her lips and said to her father: "There is no need to talk about the controlling rights. Meigang's capital structure determines that we cannot give up Zhongxin's controlling rights, but the Fourth Grandpa wants to hold shares in Zhongxin, or hopes that Zhongxin will become more open. This is not impossible to talk about, but in addition to a certain scale of capital injection, we have some conditions..."

"What are your conditions?" Sun Qishan asked.

"Aren't my aunt worried that he and I can't divide the shares of the family fund? If the fourth grandfather agrees that we will convert the shares of the family fund into Chengyexin Bank's equity and transfer them to the newly established foundation of my aunt, Zhongxin can become more open," said Sun Yalin. "Dad, you still have to find a way to do the fourth grandfather's job."

"You damn girl, you know how to push things to me." Sun Qishan laughed.

In addition to state-owned equity, the industrial clusters directly controlled by Meigang are mainly supported by Zhongxin, Hongji and Zhujiang three-jiarong investment platforms.

In addition to being the largest single shareholder of Xinpu Steel, Zhongxin has been completed, and the industrial investment fund under Zhongxin is mainly responsible for injecting construction funds.

If Zhongxin Investment is transferred out, it is equivalent to giving up the core interests of the entire Meigang system to others.

In the past few years, Zhongxin still had the strong support of Sun Qishan and the others. Then Sun Yalin boldly mortgaged all the rights and interests in his name, especially using the rights and interests of Shinura Steel to bet with Fuji Iron and Steel. It was quite difficult to obtain a large amount of Japanese yen loan from Japanese banks affiliated with Fuji Iron and Steel to support the construction of Shinura refining and chemical projects. Only then did it finally tinker with its industrial funds to a scale of one billion US dollars.

It is obviously inappropriate for Zhongxin to further gather more industrial capital in a short period of time, expand its scale, and continue to maintain the current closed and conservative management state.

With the conditions of Chen Huai and Sun Yalin, Zhongxin and even Hongji Investment, Zhongxin and even Hongji Investment, can participate in the participation of Changqing Group or Sun Family Fund or other related parties to hold shares, and can accept more rules of constraints, but until the relevant parties prove sufficient goodwill, Zhongxin's controlling rights will not be dispersed.

Large families can never simply measure complex interest relations. The entanglement and complex contradictions within the Song family over the years are enough to prove everything, so some things should be clearly stated from the beginning.

Of course, even if Zhongxin opens up and lets Changqing Group or Sun Family Fund participate in holding shares, there are no additional conditions.

The Sun family’s family fund is nominally a public welfare foundation. The shares under the name of the Sun family’s children cannot be divided theoretically and cannot be owned by private owners. However, transferring the corresponding assets to another foundation is legally allowed as long as it does not evade supervision.

In order to ensure that the family's wealth is not dispersed, the Sun family usually does not allow this, but everything is not absolute; as long as the benefits are sufficient, everything can be eased.

The Sun Family Fund mainly holds equity in Evergreen Group and BNP Paribas. Its net assets directly held by it are currently around US$5 billion.

Although Chen Shan and his wife are the second generation of the Sun family, they did not go abroad until the beginning of the 1980s, and their share in the foundation was less than 3%. Even so, the share of Chen Shan and his wife is much greater than that of Sun Qishan and Sun Yalin and his daughter.

Since Chen Shan and his wife went to China late and their share in the family fund was not high, the Sun family had a weak influence on the Changqing Group and BNP Paribas had almost no control. If they had the opportunity to divide this part of the property from the family fund, the meaning would be completely different, and there would be many things they could do.

In addition to the further strengthening of the core assets of the Meigang Group and further enhancing its influence and control over Yexin Bank, the scale of the foundation established by the Chenshan couple will also be directly expanded several times, and Zhujiang University of Science and Technology can also obtain more sufficient school-running funds.

In order to maintain the nature of public welfare, the Sun family’s family funds have to spend at least 5% of the total assets every year for various public welfare undertakings, but they are mainly injected into their own schools, hospitals, research institutes and other institutions.

Now Shen Huai and Sun Yalin are self-employed. Even if they take 5% of the funds from the foundation for public welfare every year, they still have to support the development of colleges and research institutions closely related to Meigang.

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

Overseas Chinese like Sun Changgeng who can be named in the National United Front Work Department, naturally the United Front Work Department of the Provincial Party Committee will not ignore the united front work. In the next two days, Yang Qichuan, member of the Standing Committee of the Provincial Party Committee and Minister of United Front Work, led a team to Donghua to meet and negotiate with Sun Changgeng and others.

Municipal Party Secretary Chen Baoqi, Mayor Guo Chengze and others, even though they knew that they would really be able to reach what results this time, the Meigang system, which has the same clan and origin as the Sun family, benefited the most. However, the expansion was ultimately the basic foundation of Donghua and even the entire Huaihai Province, and they had to "entertainly" come forward to entertain them.

Chen Huai went on to introduce some situations in detail to Sun Changgeng and others about the Huai-East Transportation, Huai-East Transportation, and Huai-Hai Economic Zone.

Although enterprises of Changqing Group cannot be considered as the world's first-class industrial consortium, they also need to weigh the investment layout from a more macro market environment and trend changes.

Huai coal from the east, Huai power from the east, and the development of Huaihai Economic Zone all reveal the development space and potential that Meigang can have in the future from a deeper level.

The special plane to return to France will be arranged by the United Front Work Department of the Provincial Party Committee.

On the day when he sent his grandfather and the others to Xucheng International Airport to take the flight, Chen Huai also also donated part of his property to establish a foundation to support what happened at Zhujiang University of Science and Technology, and reported to the Municipal Party Committee and the Provincial Party Committee Organization Department.

This not only involves the inheritance rights of Chen Huai in the Sun family and the disposal of his mother's inheritance, but also involves the personal connection between Chen Huai's personal equity and Mei Gang. These issues must be clarified in Shen Huai's organizational archives before he can be further promoted and appointed.

Sun Yalin flew back to France randomly to be responsible for the details of the negotiations on CITIC Investment to lift the shareholding restrictions. It was not until early April that she had negotiated with the elders of the Sun family, the Changqing Group, and the senior management of BNP Paribas to a result that everyone was relatively satisfied with.

After Zhongxin Investment opened up the restrictions on capital injection and holding, the Sun family's family fund, Changqing Group and BNP Paribas injected a total of US$200 million in exchange for 25% of the equity; Sun Qishan's initial injected US$50 million in capital plus profits were converted into 15% of Zhongxin Investment's equity; Chen Shan and his wife initially injected US$10 million and profits were converted into 15% of Zhongxin Investment's equity, and Sun Yalin personally monopolized 45% of Zhongxin Investment's equity; Sun Yalin and his father Sun Qishan also promised that within five years, their father and daughter would transfer no less than 25% of the equity to a third party, ultimately to ensure the openness of Zhongxin Investment and not be subject to absolute control of the individual.

British Wujia, Berkeley Bank, and even Feiqi Industrial, which has been working with Meigang for a long time, are interested in CITIC's 25% equity, but they have not yet reached an agreement on the transfer price.

After the Chenshan couple returned to France, the Chen Guixiu Foundation established not only injected 15% of Zhongxin Investment's equity, but also held 10% of Zhujiang Investment's equity and 10% of Hongji Investment's equity. In addition, the Sun family also transferred 5% of Yexin Bank's equity as a deserving family property under the name of Chenshan and his wife, from BNP Paribas and Changqing Group to the Chen Guixiu Foundation.

In this way, in addition to the Sun family and BNP Paribas, CITIC and Hongji Investment also hold about 4% of the equity of Yexin Bank.

Yexin Bank's equity is quite dispersed, even with state-owned shares, only 15%; the Chen Guixiu Foundation, which holds 5% of the shares, is already considered the second largest single shareholder of Yexin Bank. In conjunction with Zhongxin and Hongji Investment, Meigang Group has the right to nominate two directors on the board of directors of Yexin Bank.

The Chen Guixiu Fund was registered and established in France. According to relevant laws, the foundation that injected $300 million in assets at the beginning of its establishment needs to donate $13 million in funds or materials to public welfare undertakings every year to maintain its public welfare nature.

If anyone else is dissatisfied with this result, it is Sun Qiyi.

This time, the Sun family’s plan to expand its investment of hundreds of millions of dollars in China is almost indirectly achieved through CITIC Investment, and the business of the Asia-Pacific Affairs Department of Changqing Group has not been directly expanded.

Although CITIC Investment will spend $100 million this time and several technology companies it acquired in Japan, injecting Hongji Changqing into the construction of Hongji Changqing's Phase 3 project with Hongji and Changqing Group, this actually means that from then on, Sun Qiyi can only be on an equal footing with his niece Sun Yalin, and he naturally cannot have a happy heart.
Chapter completed!