515: Chapter 515 Keep fooling around, keep fooling around

Upon hearing this, Qin Chuan wore a grave expression.

As someone who had transmigrated and been reborn, no one understood the magnitude of the real estate time bomb better than Qin Chuan; it seemed this real estate company might have exploded.

To prevent real estate explosions, while in Dongjiang City, Qin Chuan had implemented a series of policies, so Dongjiang City was highly unlikely to have any major explosions; even if there were any, they would be minor.

Xilin City was different.

He had been in office for too short a time, and although he had interviewed the presidents of several major banks a few days ago, he had absolutely no confidence in preventing its collapse.

With the housing project stalled for two or three months, it looked like this real estate company's capital chain had encountered a major problem.

"Director Xiao Xueli, which real estate company developed this Xuefu Residential Complex?"

Director Xiao Xueli had already figured these things out and immediately replied, "Leader, the developer of the Xuefu Residential Complex is our largest local real estate company in Xilin City, called Lvguiyuan, and its boss is Chairman Zhang, the richest man in our Xilin City."

At his peak, Chairman Zhang's personal assets exceeded 100 billion, and while it was unclear how much he had now, his company's capital chain had already broken, with various debts totaling over 140 billion.

This was a big problem.

Qin Chuan did not want Lvguiyuan to become the fuse that ignited the powder keg of the Xilin City real estate market, so after a moment of contemplation, he asked.

"When do I have some free time?"

"Leader, you are free tomorrow morning from ten to ten-thirty, and at ten-thirty, there is an important meeting that requires you to preside over it."

Qin Chuan said, "Notify Chairman Zhang that I want to have a chat with him at ten o'clock tomorrow morning."

"Understood, I will go notify him in a moment."

Lvguiyuan Real Estate, President's Office.

Chairman Zhang was very irritable; those people had actually gone to the district government to hang banners, making such a huge fuss.

Damn it, I hope this doesn't reach the ears of the municipal leaders, especially the newly appointed Secretary Qin Chuan. Although he hadn't dealt with him before, he had heard that this man was very difficult to handle and always stood on the side of the ordinary people, never on the side of the entrepreneur bosses.

Debts of over 140 billion were like a huge mountain.

Chairman Zhang picked up the phone and dialed a number, "President Zhao, are you free tonight? How about we have a couple of drinks?"

"Oh my, Chairman Zhang, I'm truly sorry, but I already have plans for the evening."

After hanging up the phone, Chairman Zhang dialed another number, "Old Liu, how is that loan of ours coming along?"

"Chairman Zhang, I was just about to talk to you about this. A document has been issued from above, raising the requirements, so you shouldn't hold out any hope for this loan."

Chairman Zhang made several calls in succession, mostly to the private numbers of those bank leaders. These people seemed to have coordinated; they either said they didn't have time or just gave him the runaround. The loan was nowhere in sight, and there was no hope to be seen.

Without money, another one of Chairman Zhang's housing projects was about to be stalled.

Although the construction contractors were fronting the costs, they weren't stupid; if they couldn't get paid, they wouldn't blindly keep working for you. They would stop work first and only resume when they got the money.

Damn it, when I was in my prime, you all revolved around me, but now that I owe so much debt, you all avoid me like the plague.

A while later, his phone rang.

As soon as the call connected, a voice came through, "Is this Chairman Zhang? I am Director Xiao Xueli from the Xilin Municipal Committee."

Chairman Zhang was slightly stunned, but he immediately reacted, knowing who Director Xiao Xueli was.

As a big businessman, he naturally paid attention to the major officials in Xilin City. Although he hadn't met him or dealt with him, he knew that Director Xiao Xueli was a member of the Municipal Standing Committee and the Director of the Municipal Party Committee Office and Secretary-General.

"Hello, Secretary-General Xiao, I am Chairman Zhang."

"Chairman Zhang, I am calling to notify you that Qin Chuan wants to see you tomorrow morning at ten o'clock. Please be sure to arrive at the Municipal Party Committee before ten."

"Understood, I will definitely arrive early tomorrow."

He wanted to ask a few more questions, but Director Xiao Xueli on the other end of the line said, "Chairman Zhang, let's discuss everything tomorrow when we meet," and with a click, the other party hung up the phone.

After hanging up the phone, Chairman Zhang thought a lot.

He had all sorts of speculations, but he didn't dare to call back to ask; since the leader hadn't said anything, calling to press for details would be considered impolite.

The next day.

Around nine-thirty in the morning, Chairman Zhang arrived at the Xilin Municipal Committee and met Director Xiao Xueli.

"Chairman Zhang, the leader is busy right now. Please wait a moment; once the leader is finished and has some time, I will notify you."

In the eyes of others, Chairman Zhang was a chairman, the richest man in Xilin City, and a big entrepreneur, but here, he didn't dare to show the slightest temper and waited patiently.

Around ten o'clock in the morning, Director Xiao Xueli came to notify him, and Chairman Zhang met the newly appointed Municipal Party Secretary of Xilin City for the first time.

Although he didn't know why Qin Chuan wanted to see him, Chairman Zhang kept his posture very low and was very polite, "Hello, Qin Chuan."

"I have long wanted to come and visit you, and I didn't expect you to think of me first; I am truly honored."

Qin Chuan smiled slightly. To be able to build a business this big and become the richest man in Xilin City was certainly not simple; his attitude was spot on, but it was unclear what his true inner thoughts were.

"Chairman Zhang, please sit."

Accepting the hot tea brewed by Secretary Yuan Hua, Chairman Zhang sat on the edge of the sofa.

After chatting for a few moments, Qin Chuan got to the point, "Chairman Zhang, I heard that your Xuefu Residential Complex has been stalled for two or three months. On behalf of the Municipal Party Committee, I am asking you when work can resume and when you can deliver the apartments."

This...

Chairman Zhang didn't know how to answer for a moment.

Without money, who the hell knew when work could resume, let alone when the apartments could be delivered.

But since it was Secretary Qin Chuan asking, he had to bite the bullet and answer, "Secretary Qin Chuan, the biggest difficulty we are currently facing is capital. As long as there is sufficient capital, we can resume work immediately and guarantee that we can start delivering apartments within three months at the latest."

Qin Chuan asked, "What about the capital? According to my understanding, the apartments in the Xuefu Residential Complex have basically all been sold, and even before you had topped off, the banks gave you all the housing loans—a full several billion."

This...

How should he answer this?

All the apartments had indeed been basically sold out because these were school district apartments; not only were the prices high, but sales were also hot, and they were almost all sold as soon as they hit the market.

The banks were very generous; just as the foundations were being laid, before even the first floor was built, they had transferred all the housing payments—a full several billion—into the account of the Lvguiyuan Real Estate Group.

As for where this money went, of course, it was gone.

Chairman Zhang had not used this money for the subsequent construction of the Xuefu Residential Complex; he hadn't even paid the first installment to the builders or suppliers.

A portion of this money became his personal assets, and another portion was used to fill various holes in the group; in any case, by now, not a cent was left.

After organizing his thoughts slightly, Chairman Zhang certainly wouldn't mention where the money went, so he started to play the victim.