A few days later, late February 1992.
On the west bank of the Huangpu River, at East Zhongshan 1st Road on the Bund, stood the Shanghai City Government Building.
Inside the Shanghai City Government office building, Secretary-General Jiang Yi was flipping through a newly delivered project construction briefing.
The fifty-three-year-old secretary-general of the municipal government had long been responsible for coordinating major projects, and was also one of the key officials overseeing Pudong's development.
Prior to this, he had worked for years in Shanghai's industrial and economic management departments, making him intimately familiar with the city's industrial foundation and development status.
And now, what lay before him was a task far more massive than anything in the past.
The development of Pudong.
Ever since the central government officially announced the development and opening of Pudong in 1990, this land on the east bank of the Huangpu River—long lagging in development—had gradually become the focal point of Shanghai's future growth.
Roads, bridges, ports, industrial parks, financial and trade zones...
Blueprint after blueprint was issued, and project after project commenced construction.
But for Secretary-General Jiang Yi, drafting plans was only the first step.
The real challenge was turning these blueprints into reality as quickly as possible under limited fiscal conditions.
Particularly when it came to attracting investment.
To build new industrial zones, there had to be enterprises willing to set up factories; to build financial and trade zones, there had to be enough financial institutions and commercial firms willing to move in.
And these things clearly could not be accomplished by the government alone.
Therefore, lately, aside from the progress of various infrastructure projects, what he cared about most was the implementation of several key foreign investment projects in Pudong.
Among them was the Saionji Industrial Park.
Secretary-General Jiang Yi turned to the last few pages of the briefing in his hands.
A recently taken color photograph caught his eye.
In the photo, a ten-thousand-ton cargo ship was docked alongside a brand-new wharf, and two massive port cranes had already begun loading and unloading tests.
In the bottom right corner of the photograph, a date was stamped.
February 1992.
Secretary-General Jiang Yi picked up the photograph and glanced at the project description beside it.
"Saionji Industrial Park..."
He murmured softly.
Over a year ago, in order to secure this Japanese enterprise's investment, the Shanghai City Government had specifically organized several coordination meetings.
The scale of the project back then was already astonishing.
A one-hundred-million-dollar investment plan, over a hundred pieces of industrial equipment transferred from Japan, more than five hundred mu of industrial land, plus a wharf and auxiliary roads funded and built by the enterprise itself.
In the investment attraction efforts back then, Saionji was virtually the only foreign enterprise capable of committing to such an investment scale in one go.
However, what truly made Secretary-General Jiang Yi remember this company was actually the investment terms it had proposed.
This Japanese enterprise hadn't demanded that the local government build all the infrastructure beforehand, nor had it predicated its entire investment on tax incentives and cheap land.
On the contrary, it was willing to shoulder a substantial portion of the infrastructure construction costs.
Not long after the land was approved, the construction crews moved in.
Later, the factory buildings and machinery followed in succession.
Now, just over a year later, the wharf was ready for trial operations, and some production lines in Phase I of the industrial park were about to officially commence production.
This pace of construction had indeed exceeded his expectations.
Two soft knocks came from the door.
"Come in."
The secretary pushed the door open.
"Secretary-General, Chen Zhiyuan has arrived."
"Send him in."
A moment later, Chen Zhiyuan walked into the office with a briefcase tucked under his arm.
"Secretary-General."
"Have a seat."
Secretary-General Jiang Yi pointed to the chair across from him and slid the photograph on the desk toward him.
"I just finished reading the report on the Saionji project in Waigaoqiao."
"Is the trial operation at the wharf going smoothly?"
"Very smoothly."
Chen Zhiyuan pulled out the chair and sat down.
"The development office reported the latest update yesterday; the power supply auxiliary issues have been resolved, and testing on the two port cranes has been completed."
"The workshops and primary production equipment for Phase I of the industrial park are basically in place. According to current progress, holding the commissioning ceremony in early March won't be an issue."
Secretary-General Jiang Yi nodded.
"Back when you told me this Japanese company was capable, I was still a bit worried."
"After all, no matter how nicely a contract is signed, the investment has to actually materialize on the ground."
He picked up his teacup and took a sip.
"Looking at it now, it truly is an enterprise that gets things done."
Hearing this evaluation, Chen Zhiyuan felt a slight sense of relief.
His visit today was naturally not just to report on construction progress.
Besides the project report, his briefcase contained another set of materials he had prepared for nearly half a month.
"Preliminary Proposals for Expanding Investment and Cooperation of Saionji Group in Shanghai."
This was what he truly wanted to discuss.
"Secretary-General, actually, we've still been in contact with Saionji recently, mainly regarding the follow-up development of the industrial park."
"Oh?"
Secretary-General Jiang Yi set down his teacup.
"Tell me more."
Chen Zhiyuan took out a document from his briefcase and handed it over with both hands.
"Although Saionji's current investment in Waigaoqiao is mainly concentrated in manufacturing, judging by the projects they've already invested in, they clearly plan to build more than just a few factories in the future."
"The industrial park has Phase II development plans lined up, and there's also a need to further improve auxiliary facilities for the wharf."
"Moreover, they previously expressed interest in commercial projects in Lujiazui."
Secretary-General Jiang Yi opened the document.
The first page was a map of Shanghai.
Marked on it in different colors were Saionji's existing investment projects and the planned zones still in preliminary consultation stages.
"This many?"
He was somewhat surprised.
Chen Zhiyuan nodded.
"This is only the portion that can be confirmed so far."
"In fact, the scale of Saionji's industries in Japan is far larger than the projects they have invested in Shanghai."
He pulled another sheet of tables from the folder.
Listed on it were the main industries Saionji Group had invested in across Japan and overseas in recent years.
Apparel, food, commercial retail, industrial manufacturing, construction, warehousing and logistics, finance...
Secretary-General Jiang Yi had originally been browsing through it calmly, but as the contents of the table expanded, his expression gradually shifted.
He knew that Saionji was a formidable enterprise in Japan, but he hadn't expected the conglomerate to span such a vast array of industries.
In particular, when his eyes landed on the finance column, his motion of turning the page paused noticeably.
Secretary-General Jiang Yi scrutinized the figures listed alongside it once more, finally looking up in surprise.
"Their financial operations are this substantial as well?"
"Yes."
"The scale of their financial business in the United States is quite impressive; last year, they even participated in the capital restructuring of a major Wall Street securities firm."
"Additionally, Saionji already possesses a relatively comprehensive commercial and logistics system in Japan, and over the past few years, they have continued to acquire and integrate manufacturing enterprises."
Chen Zhiyuan paused.
"That's why I believe Saionji's value to Shanghai cannot be measured simply as an ordinary foreign-invested enterprise."
Secretary-General Jiang Yi did not respond immediately.
He continued turning a few more pages.
The dossier not only outlined Saionji's current investments, but also listed several potential directions for cooperation they could pursue.
Manufacturing expansion, warehousing and logistics, auxiliary commercial facilities, and the introduction of related upstream and downstream enterprises.
Some of the proposals were still rudimentary, clearly just preliminary concepts.
Even so, Secretary-General Jiang Yi examined them with great care.
As the municipal government's secretary-general, he knew very well what Pudong's development needed most right now.
Land could be planned.
Policies could be formulated.
Infrastructure such as roads, bridges, and ports could also be built step by step through national and local investment.
But a modern new district could not, after all, consist solely of roads and buildings.
There had to be people willing to invest.
There needed to be factories, enterprises, jobs, and industries capable of truly sustaining long-term operations.
Especially in an area like Waigaoqiao, relying purely on land development was not enough.
If they could attract a batch of manufacturing enterprises equipped with advanced technology and international market channels to settle down, it would be immensely beneficial to the future industrial development of all of Pudong.
And Saionji happened to possess precisely these resources.
"As I recall, when they first came to Shanghai, weren't they in the apparel business?"
Secretary-General Jiang Yi suddenly asked.
"Yes."
Chen Zhiyuan nodded.
"They arrived back in 1986."
"They started out in textile and garment processing on a small scale. At that time, they rented old factory buildings in Puxi, primarily producing apparel for export."
"However, they developed very quickly afterward."
"Now they have quite a few skilled workers and technical backbones there, and some production lines even handle the processing of high-end ready-to-wear clothing."
Secretary-General Jiang Yi pondered for a moment.
"1986..."
"Pudong's development hadn't officially launched back then, had it?"
"Not yet."
"So to say, they've already been operating in Shanghai for six years."
"That's correct."
"Six years..."
Secretary-General Jiang Yi lowered his gaze back to the map.
Six years was no short time for a foreign enterprise.
Especially when Saionji first entered Shanghai, Pudong's development hadn't officially started, and China's investment environment was far from being as open as it was today.
Yet they not only stayed, but also gradually grew from a single garment factory in Puxi into today's scale.
An industrial park spanning over five hundred mu, a dedicated wharf, complete sets of industrial equipment...
This company's scale of investment continued to expand even now.
Looking at that parcel of industrial land on the map, Secretary-General Jiang Yi gradually formed some different thoughts.
It was nothing unusual for a foreign enterprise to be willing to invest in China.
Over the years, Shanghai had hosted countless foreign delegations. Some enterprises did bring capital and projects, but many just came to look around, negotiated endless conditions, and in the end disappeared without a trace.
Other foreign investors cared about nothing more than China's cheap labor and preferential policies; they were willing to stay when business was good, but could pull out at any time once profits dried up.
But Saionji was clearly different.
An enterprise merely seeking quick money for a few years wouldn't bother operating here for six full years, let alone investing immense sums of capital to build its own industrial park and port.
Judging by this posture, they likely truly intended to pursue long-term development in Shanghai.
At this thought, Secretary-General Jiang Yi's interest in this Japanese enterprise grew even keener.
For Shanghai, which was going all out to promote the development of Pudong, such foreign investors were precisely the ones most worth pursuing.
After all, when the government attracts investment, it cannot merely look at the dollar amounts signed on contracts.
Whether the investment can truly materialize, whether the factories can operate sustainably, and whether they can drive local employment and industrial growth are what matter far more.
And Saionji had already proven its sincerity and capability through its operations over the past six years.
Since that was the case, there might well be room for further cooperation between both sides.
"Is their domestic investment in Japan still increasing over these past few years?"
Secretary-General Jiang Yi asked again.
"Yes,"
Chen Zhiyuan replied.
"The Japanese economy hasn't been doing well these past two years, and many companies are struggling. Saionji, on the other hand, took the opportunity to expand quite a few operations."
"Some of the equipment currently in use in our industrial park was transferred over from the enterprises they acquired and consolidated in Japan."
"The technical level of most equipment can still be considered advanced domestically."
Secretary-General Jiang Yi nodded gently.
He found this point quite interesting as well.
The Japanese economy was facing difficulties, yet Saionji was able to seize this opportunity to reorganize its equipment, technology, and personnel.
Meanwhile, Shanghai happened to be undergoing large-scale development, requiring industrial investment and advanced production capacity.
Indeed, there were quite a few areas where both sides could cooperate on this matter.
Furthermore, Saionji's industries went far beyond just manufacturing.
Secretary-General Jiang Yi reopened the preceding table listing the group's businesses.
Finance, commerce, logistics, construction...
If they could secure Saionji to further expand its investment, and even introduce more of its affiliated enterprises and related industries into Pudong, it would clearly be greatly beneficial to Shanghai's development.
Moreover, there was another layer of significance.
Pudong's development had just begun; although the state had already clarified the direction of development and opening-up, it was still an unfamiliar place to many foreign investors after all.
The government could promote policies, showcase plans, and organize foreign business inspections.
Yet no matter how magnificent the plans were, they ultimately could not compare to the persuasiveness of a truly successful foreign enterprise investment.
Saionji had been operating here for six years.
If it could continue to expand its investment next and establish a stable, long-term cooperative relationship with both sides, then the Saionji Industrial Park could well become a signboard for Pudong's external investment promotion.
A large financial conglomerate with considerable influence in Japan and even internationally was willing to take deep root in Shanghai for the long term and even continuously increase its investment.
This matter itself was enough to make many foreign enterprises that were still sitting on the fence reconsider Pudong's investment value.
Thinking of this, Secretary-General Jiang Yi suddenly felt that the municipal government's level of attention given to Saionji in the past might still have been somewhat insufficient.
An enterprise like this was entirely worthy of being treated as a key cooperation target.
As long as both parties could reach an agreement, the municipal government could provide more active support for Saionji's subsequent investments within the scope permitted by policies.
Not just preferential conditions, but also land, infrastructure, project approval, and unified coordination when multiple departments were involved.
And if Saionji could continue to fork out real money, build more factories, and drive more enterprises to enter Pudong, these supports would naturally have sufficient justification.
Of course, this did not mean that the local government should unconditionally cater to foreign businessmen.
There was still a lot of capital required for Pudong's development, and there were corresponding restrictions on policies and land resources.
The key was still to see whether both parties could find a truly mutually beneficial way of cooperation.
However, this actually made Secretary-General Jiang Yi somewhat look forward to the next step of contact.
He raised his head and looked at Chen Zhiyuan.
"Comrade Zhiyuan, who is the one truly responsible for decision-making at Saionji now?"
Chen Zhiyuan was slightly taken aback.
What first surfaced in his mind was unexpectedly that wealthy Eldest Miss from the year before last who hugged a Polaroid, complained about chimneys everywhere in Puxi, and clamored to build a beautiful, large garden.
And that young girl who perked up as soon as she heard about braised pork and sweet and sour spareribs, yet looked completely innocent and seemed to understand nothing when talking about business.
Thinking of this, Chen Zhiyuan couldn't help but find it somewhat amusing.
Back then, he had almost been fooled by that mischievous and willful appearance.
Subsequently, he replied seriously:
"Saionji Satsuki."
"The one who personally came to Shanghai for an inspection the year before last?"
"Correct."
"I remember she is very young."
"She is indeed very young."
Remembering that negotiation back then, Chen Zhiyuan's expression inevitably turned somewhat subtle.
"However, Secretary-General, you must absolutely not look down on her because of this point."
Secretary-General Jiang Yi raised his head.
"How so?"
Chen Zhiyuan pondered for a moment.
"When negotiating for that piece of land in Waigaoqiao back then, I originally thought she was just here to inspect alongside the group's executives."
"It was only later that I realized the person who truly decided the investment direction and the bottom line of the negotiation was her."
"Including the industrial park's location, the self-owned wharf, and some of the commercial development conditions proposed later, her intentions were behind all of them."
Saying this, he couldn't help but add:
"Back then, we spared no effort and spent much thought with her over the price of that land."
After listening, Secretary-General Jiang Yi showed a look of some interest.
"You didn't get the upper hand either?"
Chen Zhiyuan looked somewhat embarrassed.
"That can't quite be said either."
"The conditions ultimately negotiated by both sides were mutually beneficial overall."
"It's just that..."
He paused slightly.
"That Miss Saionji was more difficult to deal with than most Japanese entrepreneurs I had contacted before."
Secretary-General Jiang Yi glanced at him.
He understood Chen Zhiyuan quite well.
Having worked abroad for many years, he knew Japanese and was also familiar with the management methods of Japanese enterprises.
To be able to make him give such an evaluation, it seemed the other party was truly no simple matter.
"Then it is all the more reason to invite her over for a talk."
Secretary-General Jiang Yi put the document back on the desk.
Chen Zhiyuan raised his head.
"Secretary-General, you mean..."
"Phase one of the industrial park is about to go into production soon, right?"
"Yes, expected in early March."
"That's perfect then."
Secretary-General Jiang Yi picked up a fountain pen and wrote a few lines on a memo pad next to the document.
"In the name of the municipal government, formally invite Ms. Saionji Satsuki to come to Shanghai to attend the unveiling ceremony for the production launch of industrial park phase one."
"Additionally, arrange a formal meeting."
"Since she is the one who can truly decide the investment, we shouldn't just talk with the managers underneath."
Chen Zhiyuan perked up.
Today, he had originally wanted to strive for the municipal government to raise the reception specifications.
He didn't expect Secretary-General Jiang Yi to make a decision so quickly.
"Then the content of the meeting..."
"Phase two of the industrial park must of course be discussed, but we cannot just talk about this."
Secretary-General Jiang Yi reached out and tapped the materials on the desk.
"Manufacturing, port logistics, and commercial development—these directions can all be studied. You all first compile a specific cooperation plan to see which projects are suitable for continued introduction."
"In addition, I think we can also consider establishing a long-term cooperation mechanism."
Chen Zhiyuan was slightly startled.
"A long-term cooperation mechanism?"
"Correct."
Secretary-General Jiang Yi nodded.
"If Saionji is indeed willing to continue expanding its investment, we can consider listing them as a foreign-funded cooperative enterprise receiving key support from the city."
"In the future, regarding new investment projects, the city will uniformly coordinate relevant departments. As for aspects like land, infrastructure, and policy implementation, as long as they comply with regulations, we will support them as much as possible."
Saying this, he added another sentence:
"Of course, this is still just a preliminary idea. To what extent we can actually cooperate can only be decided after both sides have talked."
Chen Zhiyuan nodded repeatedly.
"Also, since we are inviting her over, we cannot just arrange a production ceremony."
Secretary-General Jiang Yi looked back at the map.
"Waigaoqiao is only a part of Pudong. Let her take a closer look at other places and also understand our future development plans."
Chen Zhiyuan nodded immediately.
"Understood."
Secretary-General Jiang Yi thought for a moment, then called out to Chen Zhiyuan, who was just about to tidy up the documents.
"There is one more thing."
"Secretary-General, please go ahead."
"For the production launch of industrial park phase one this time, promotional work must also keep pace."
Secretary-General Jiang Yi picked up the photo of the wharf trial run again.
"A project like this can completely serve as a typical example for Pudong's investment promotion."
"After you go back, compile Saionji's investment situation over the past few years. How much capital was actually invested, how many factory buildings were constructed, and how many jobs were resolved—all must have specific data."
"In the future, when other foreign enterprises come for inspections, after obtaining the consent of the Saionji side, we can also arrange for them to visit the industrial park."
Chen Zhiyuan immediately understood his meaning.
Compared to repeatedly introducing Pudong's policies and plans at investment promotion conferences, letting foreign investors see with their own eyes the already constructed factories and ports of a large multinational enterprise was obviously much more persuasive.
"Understood, Secretary-General."
"Mm."
Secretary-General Jiang Yi put the photo back into the folder.
"Of course, whether this typical example can be truly established still depends on how the next step of talks goes."
"Let's handle the invitation matter well first."
...
That afternoon.
Shanghai City Bureau of Foreign Investment Promotion.
After returning to his office, Chen Zhiyuan immediately convened relevant staff members.
The Foreign Affairs Office was responsible for coordinating the formal invitation letter and reception arrangements, the Bureau of Foreign Investment Promotion was responsible for contacting the Saionji side, and the Pudong Development Office began compiling project materials for industrial park phase two, port logistics, and other projects where cooperation might be launched.
Meanwhile, relevant departments also began preparing investment promotion publicity materials for the Saionji Industrial Park, planning to introduce it externally as one of the representative projects of Pudong's development achieving practical results.
The preparation plan for the phase one production ceremony, which had basically been finalized originally, was adjusted accordingly.
This time, the municipal government not only hoped to invite representatives from the Saionji side to attend.
It also hoped to have Saionji Satsuki, who truly held the group's investment decision-making power, personally come to Shanghai.
At dusk.
A formal invitation issued in the name of the Shanghai City government, after being confirmed by relevant departments, began to be sent to Tokyo through established foreign affairs and commercial liaison channels.
In addition to attending the unveiling ceremony for the production launch of industrial park phase one, the invitation content also specially listed one arrangement.
——To hold formal talks on matters such as the Saionji Group further expanding its investment in China and future long-term industrial cooperation between both sides.
Chen Zhiyuan looked at the issued document and put down the fountain pen on the desk.
Over a year ago, he had personally escorted that young Miss Saionji onto a special flight returning to Tokyo.
At that time, the two had agreed, hoping there would be a chance to meet again in the future.
He hadn't expected that this day would come so quickly.
Moreover, this time, the matters they prepared to discuss were clearly no longer limited to those 500-odd mu of land in Waigaoqiao.
Chen Zhiyuan stood up and walked to the window.
Outside the window, on the streets of Shanghai, dense streams of bicycles were moving slowly amidst the evening rush hour.
On the opposite bank of the distant Huangpu River, Pudong's construction was still continuing.
Nowadays, the Nanpu Bridge was already open to traffic.
New factory buildings were springing up one after another.
And that piece of land east of the river, which was considered desolate and remote over a year ago, was changing at an increasingly fast speed.
Chen Zhiyuan gazed into the distance, and in his mind, that young girl who stood on the earthen embankment of Waigaoqiao back then, holding a Polaroid and taking pictures everywhere, involuntarily surfaced once again.
At that time, he was still racking his brains and trying to find ways to make the other party believe in Pudong's future.
Nowadays, Saionji's first round of large-scale investment in Shanghai had already begun to reap results.
And China was also about to welcome an even more profound change.