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The sales of Jingcheng No. 1 were so fast that they were even faster than Suning had predicted.

Suning has far underestimated the incredible purchasing power of ordinary people in this era; beneath the turbulent economic market of China lies enormous strength.

Before the launch, some people within the company were quite worried, wondering if the price of 5888 would scare the market away.

As a result, Suning's editorial sparked a nationwide discussion about real estate, and coupled with the wave of group purchases by Hong Kong tycoons, the enthusiasm for buying houses in Beijing was ignited like a fire...

The sales office was packed with people every day, and the sales control board was covered with red dots. In less than a month, the units in "Beijing No. 1" were basically sold out.

This result completely relieved Suning of a great weight.

But he's not the kind of person who sits down and catches his breath after selling one plate.

The success of "Beijing No. 1" is not the end for Suning, but a validation.

Now we can be absolutely certain of one thing: the real estate industry in China is just getting started, and there are still many opportunities to come.

Next, Suning convened a short meeting with the company's core team.

He didn't talk much nonsense at the meeting. He directly spread out a map of Beijing and drew two circles on the Third Ring Road. "These two plots are in a better location than Jingcheng No. 1. One is near the East Third Ring Road, and the other is inside the West Third Ring Road. Next, Mingju Real Estate will launch two projects at the same time, which will be called Jingcheng No. 2 and Jingcheng No. 3."

Someone asked, "Mr. Su, won't opening two projects at the same time put too much pressure on your finances?"

Suning put down his pen. “I’ll handle the funding. We need to adjust our model. Starting today, Mingju Real Estate will be pursuing a rapid expansion strategy. Let me explain this to you briefly. First, acquire land and obtain the necessary permits and licenses. Second, immediately after acquiring the land, use it as collateral to secure a bank loan. Third, use this loan to acquire another plot of land while simultaneously starting development on the previous project. Fourth, after construction begins, pay for materials and construction costs in installments, extending the payment cycle to ensure sufficient cash flow. Fifth, once the project obtains its pre-sale permit, immediately launch sales and use the proceeds to cover all previous shortfalls. By operating this way, one sum of money can leverage two to three projects.”

The people present reacted in various ways after hearing this.

Director Zhou, who was in charge of finance, frowned as he did the math in his head, while the person in charge of the project was pondering the coordination issues between the construction team and the material suppliers.

Finally, Zhang Jie, the sales director, couldn't help but speak up first: "President Su, I understand. This strategy is indeed very fast, but if any link in the chain gets stuck, it will trigger a series of chain reactions."

Suning said, "Therefore, no link can be blocked. Land acquisition must be fast, loans must be fast, construction must start fast, and sales must start fast. These four 'fast' steps are indispensable. And the most crucial link here is the bank. Without the support of the bank, this model simply cannot operate."

"President Su, Mingju Real Estate has already made a name for itself, is such an aggressive approach necessary?" Director Zhou couldn't help but voice his biggest question.

"That's the allure of finance! The real estate industry needs the support of financial leverage."

"..." Most of the executives present were very confused, after all, their thinking was still based on the old routine.

However, since Su Ning had given the order, they had no choice but to carry it out.

After all, Suning is the owner of Mingju Real Estate, and Suning will bear any risks.

……

Suning, on the other hand, kept its word.

A few days later, Suning hosted a private banquet at a high-end hotel in Beijing.

The people they invited were none other than the heads of several major banks.

There were leaders from branches of state-owned banks, as well as heads of several joint-stock banks that were expanding their real estate lending business, totaling five or six people.

These people are all influential figures in Beijing's financial circles. It's usually difficult to even get an appointment to have dinner with just one of them, let alone invite several of them to the same table at the same time.

But Suning put a lot of thought into this, sending out invitations carefully, arranging the time and place perfectly, and even using several connections to facilitate the connection.

More importantly, the "Beijing No. 1" project had made such a big splash in the market that these bankers had already taken notice of Mingju Real Estate, this suddenly emerging company.

They were also curious about Suning and wanted to meet him.

The banquet hall was not large, but it was decorated very exquisitely.

The round table wasn't large; it was just right for eight or nine people, neither too spacious nor too crowded.

As the host, Suning stood at the entrance to personally greet the guests, shaking hands and exchanging pleasantries with each one, and ushering them inside.

The first to arrive was Vice President Zhou, who was in charge of credit business at a major state-owned bank. He was around fifty years old and looked like a seasoned veteran who had been working in the system for decades.

With a broad smile, Su Ning shook hands with Vice President Zhou. "President Zhou, it's an honor to have you here today."

President Zhou patted Su Ning's hand and replied with a smile, "President Su, you're too kind. Our people in the bank have all discussed your Beijing No. 1 project. To be honest, when we first saw your pricing, we all thought you were too bold. But we didn't expect you to actually sell it. I'm here today for two reasons: first, to have dinner, and second, to learn from your experience. You'd better tell me all about it."

Su Ning ushered him inside, saying as they walked, "It's not really about seeking knowledge, but please feel free to ask me any questions later, and I will answer them to the best of my knowledge."

"it is good."

Several other people arrived later.

Mr. Zheng, the general manager of the credit department of a branch of China Construction Bank, is clearly a very capable person.

The person who came from the Bank of Communications was a regional manager, Mr. Sun. As soon as he entered, he patted Su Ning on the shoulder and said, "Mr. Su, you are really young and promising!"

The person from ICBC was Director Lin, the head of the credit department. He was the most serious-looking one among the group. He didn't talk much, but after sitting down, he kept observing Su Ning without making a sound.

Once everyone was present, they sat down around the table.

Su Ning asked the waiter to pour the drinks, then picked up his glass, stood up, and gave an opening speech: "President Zhou, General Manager Zheng, General Manager Sun, Director Lin, and everyone here, this gathering today has no other purpose than to invite you all to dinner and make friends. Mingju Real Estate is a new company, but you should be able to see some of our working style from the Beijing No. 1 project. I won't talk about specific business cooperation today; let's drink and chat first. Once we get to know each other, things will naturally fall into place."

Su Ning's words were neither pretentious nor overly humble; he struck the perfect balance. The group exchanged glances, nodded, and raised their glasses.

After a few rounds of drinks, the atmosphere at the table gradually warmed up.

President Zhou put down his chopsticks, wiped his mouth with a napkin, and turned to Su Ning, saying, "President Su, when I came in I said I wanted to learn from your experience, I wasn't joking. What were you thinking with that pricing strategy for Beijing No. 1? Weren't you afraid it wouldn't sell?"

Su Ning smiled, moved his wine glass aside, and sat up straight. "President Zhou, let me be frank with you. It would be a lie to say I wasn't worried about the market reaction at the time. But I have a judgment: I think there's a huge gap between the housing prices in Beijing and their true value. Sooner or later, someone will fill that gap. What I want to do is be the first one to do so."

Mr. Zheng, who was standing nearby, interjected, "What's the basis for your judgment? You can't just rely on feelings."

Su Ning glanced at President Zheng. "President Zheng has hit the nail on the head. There are three reasons. First, Beijing is the capital of China, and no other city in the country can replace its position. The capital has the best education, medical care, and employment resources, which will continuously attract people. With more people coming, housing becomes a scarce commodity. Second, the commercial housing market has only recently been opened up. Previously, everyone lived in housing allocated by their work units, but that model has reached its end. The demand for improved living conditions is exploding, but supply is far from keeping up. Supply and demand determine prices; this is a basic economic principle. Third, I've seen the development history of major cities like Hong Kong and Tokyo. When urbanization enters a fast track, housing prices in prime locations will inevitably rise in the long term. Beijing is like a train that has just left the station; it doesn't seem fast yet, but it will definitely pick up speed, and once it does, no one can stop it."

After listening, President Zhou leaned back in his chair, his eyes behind his glasses filled with admiration. "Your judgment, given the current circumstances, requires courage."

Mr. Sun chuckled and said, “Mr. Su, all three of your points are valid. But what I admire most is not your judgment, but your willingness to take action. Many people make the right judgments, but few dare to invest real money.”

Sun Ning waved his hand and said with a smile, "Mr. Sun, you flatter me. I'm just a bit bold, and I was lucky that those clients from Hong Kong rushed in and helped me break the deadlock. But in the end, luck can only be used once. If Mingju Real Estate wants to last, it can't rely on luck; it has to rely on solid business models and partners."

Director Lin finally spoke up at this moment, but he immediately steered the conversation deeper, "When President Su mentioned partners, he probably included those of us in the banking industry, right? I think the reason you invited us together today is more than just a simple meal and chat, isn't it?"

Upon hearing this, the other bank executives at the table all put down their chopsticks without making a sound, and their attention was all focused on this.

Suning was waiting for this very sentence: "Director Lin, you are right. I just wanted to talk to you about cooperation."

"The Beijing No. 2 and Beijing No. 3 projects are about to be launched simultaneously. My current funds are more than enough to operate one project, but to operate two at the same time, I need the support of banks. This support is not about Suning being short of money and borrowing money from you. What I want to talk to you about is a deeper cooperative relationship."

Mr. Zheng became interested. "How deep is it?"

Suning said, "I want to work with you to launch a more convenient mortgage product."

"..."

Suning paused deliberately, waiting for the business leaders to process and react, before continuing, "What's the biggest headache for ordinary people buying houses right now? It's still money. A house costs hundreds of thousands, which is basically impossible for an average working-class family to afford all at once. Even if they can scrape together the down payment, the subsequent monthly payments are a huge burden. If we can introduce a more flexible mortgage plan—extending the loan term to twenty or even twenty-five years; lowering the down payment ratio to make it more affordable for those with genuine housing needs; simplifying the approval process and speeding up loan disbursement—then more people will buy houses, my houses will sell faster, and your loan business will also increase. This is definitely a win-win-win situation for all three parties."

President Zhou narrowed his eyes and spoke after a moment, “President Su, your idea is correct, and the direction is encouraged by national policy. But what you just mentioned about lowering the down payment and extending the term puts pressure on risk control. When we banks make loans, our first consideration is always safety. You want me to lower the down payment from 30% to 20%, or even lower, and extend the term from ten years to twenty years, which greatly increases the risk exposure. What do you think about this?”

Suning did not shy away from the issue. "President Zhou, I fully understand what you mean by risk control. But the core of risk control is not the down payment ratio, but whether the value of the collateral is sufficient to cover the risk, and whether the borrower's willingness and ability to repay are stable. Let me first talk about the value of the collateral. You can arrange for someone to conduct an assessment of the locations of Jingcheng No. 2 and Jingcheng No. 3. I believe the assessment results will reassure you about the value of land and property within the Third Ring Road. As for repayment ability, I can tell you all that Mingju Real Estate will set up a special customer qualification review process in each project. Not just anyone can buy a property by showing their ID card. We will help the bank with the first screening, keeping out customers with repayment problems."

Director Lin nodded slightly, but his expression remained serious. "President Su, how exactly does this supporting review process work? Banks can't completely hand over risk control to developers."

Suning said, "It doesn't need to be completely handed over to me. What I mean is that Mingju Real Estate will conduct pre-screening during the sales process—collecting all the information we can, such as the customer's workplace, income certificate, and credit history. After initial screening, we will push high-quality customers to banks in batches. The banks will then conduct a second review according to their own risk control standards. This is more efficient, and the banks can save a lot of effort in the initial review."

After listening, Mr. Zheng slapped the table lightly and said excitedly, "Mr. Su's idea is good. The biggest headache for us in mortgage lending is customer acquisition and data collection. If developers can help us with this step, the approval efficiency can indeed be improved."

Mr. Sun nodded in agreement, "Moreover, the sales data of Beijing No. 1 speaks for itself, and Mr. Su's operational capabilities have been proven by the market. When banks lend money, they consider both the project and the person in charge. If the person in charge is reliable, the project risk is reduced by half."

Upon hearing this, Su Ning immediately responded, raising his glass in a gesture of respect. "Mr. Sun has hit the nail on the head. Ladies and gentlemen, I won't discuss specific amounts like one or two hundred million at this dinner; we can talk about that later. Today, I just want to express one point: Mingju Real Estate is committed to long-term business, not one-off deals. We need the bank as a partner, and I will demonstrate through my actions that cooperating with Mingju is absolutely worthwhile."

After he finished speaking, he held out his wine glass.

President Zhou was the first to raise his glass. "President Su, I really like you, young man. You're very insightful in both your words and actions. Okay, we'll have our credit department coordinate with you on the specific plan later. Let's start with a drink tonight."

Mr. Zheng also picked up his cup, saying, "Mr. Su, this meal today was well worth it. You've said exactly what I wanted to say. Our bank has long been determined to get into real estate lending, we just need a good partner, and I think Mingju is a perfect fit."

Mr. Sun raised his glass high, "Come on, let's drink one, we're all family from now on."

Director Lin raised his glass last, saying only four words: "Pleasant cooperation."

"It's a pleasure doing business with you." Several wine glasses clinked together, making a crisp sound.

The conversation at the dinner table became more relaxed in the following minutes.

Suning chatted with President Zhou about the macroeconomy, then told General Manager Sun about some interesting things that happened during the sales of "Beijing No. 1", then discussed the differences between the Hong Kong and mainland real estate markets with General Manager Zheng, and even sat down next to Director Lin to whisper about risk control details for more than ten minutes.

Suning has a wide range of knowledge. He can talk about macroeconomics with great expertise, tell jokes about sales details, and ask key questions about risk control. Moreover, he doesn't use any empty platitudes or grandstanding throughout the conversation.

As the bank executives chatted with Su Ning, the admiration in their eyes became increasingly apparent.

They suddenly realized that Suning's rich knowledge and experience were incomparable to the rough-and-tumble heroes they usually encountered.

Suning gives them the feeling of a king who has victory in his grasp, and what he is doing now is nothing more than a king crushing an egg on a weakling.

After the banquet ended, Su Ning stood at the door and saw the guests off to their cars one by one.

The assistant, Xiao Zhao, quickly placed the pre-prepared gifts in everyone's trunks. After all, words are meaningless; what matters most are tangible things.

Before getting into the car, President Zhou shook Su Ning's hand, slightly tipsy but serious, and said, "President Su, I've made you a friend. Have your people come to me later, and we can sit down and discuss the specifics."

Su Ning said, "Thank you, President Zhou. I will definitely follow up personally."

After seeing off the last guest, Su Ning stood at the hotel entrance to get some fresh air. His assistant, Xiao Zhao, leaned over and whispered, "Mr. Su, these people seem to have a very good impression of you after today's meal."

Su Ning tugged at his collar. "Making a good impression is only the first step. The key is to turn today's verbal promises into a written agreement. Tomorrow, send a copy of the project materials to each of the banks, and keep up with the follow-up work. Don't let things fall apart."

Xiao Zhao nodded and said, "Understood."

...(End of this chapter)