Hearing the Japanese zaibatsu's suggestion to provide gold to the Northeast Bank, Wang Donglu held his breath, determined not to miss a single word that followed.

However, He Rui seemed not to have heard it. No one around spoke; there was no sound in the carriage except the rhythmic *clack-clack* of the train passing over the rail joints.

Wang Donglu didn't know how long this silence would last. The representative of the Mitsubishi Zaibatsu broke the quiet. "In the past two years, Your Excellency Chairman has been developing many industries in Manchuria and Mongolia, from railways to mines, from grain to wool textiles, achieving excellent results. I wonder if Your Excellency Chairman has any insights to share?"

Only then did He Rui smile and say, "What the Northeast is doing is no different from you gentlemen: seizing the opportunity of the European war to expand exports. As for insights, it is simply guiding capital fully into the production sector, facing the difficulties encountered in production directly, discovering problems, and solving them."

The Mitsubishi Zaibatsu representative immediately praised, "Your Excellency speaks the truth. Mitsubishi Enterprises engages in product development and knows well the difficulty of technological advancement. That Your Excellency has gathered so many talents and solved so many technical problems in such a short time... it truly fills this subordinate with admiration."

Facing the flattery of the Mitsubishi representative, He Rui smiled. "Japan is ahead of China in industrial development. What the Northeast is doing are stages Japan has already completed. Presumably, the Mitsubishi Zaibatsu must have a lot of experience to impart."

Hearing this, Wang Donglu understood somewhat. His own father was an official, so Wang Donglu was no stranger to the meaning of such diplomatic rhetoric. He Rui obviously did not accept Mitsui's request to provide gold to the Northeast Bank as collateral for currency issuance. As for the reason, Wang Donglu was not clear. But He Rui's silence was intended to preserve Mitsui's face—a gesture of great goodwill.

The Mitsubishi Zaibatsu had taken over the conversation, heaping praise on He Rui that didn't completely fit reality. He Rui then stated the current realistic situation, and his seemingly humble follow-up was an invitation to hear what suggestions Mitsubishi had.

Understanding the subtext of this conversation, Wang Donglu saw the Mitsubishi representative exchanging glances with other Japanese zaibatsu representatives. Presumably, they had rehearsed for this meeting long ago. Wang Donglu sensed that the Japanese representatives would switch to another speaker, so that even if the proposal was rejected by He Rui, basic harmony could be maintained.

However, the situation Wang Donglu anticipated did not happen. Led by the Mitsubishi representative, the group of Japanese zaibatsu representatives continued chatting and laughing with He Rui about various economic theories and the world situation.

Wang Donglu clearly felt that the probing from both sides had ended. The moment most prone to conflict had passed; next, they would likely move in the direction of cooperation.

At this time, Wang Donglu didn't realize that his parents were sitting with Zhao Tianlin. Old Master Wang requested, "Brother Zhao, please help Donglu get out of that... whatever Security Bureau."

Zhao Tianlin nodded. "Brother Wang, I have already done my best to arrange it. But Donglu is rather willful, and he is still young; I'm afraid he doesn't even understand what he wants to do himself."

Old Master Wang nodded. "Donglu's nature is unsettled, so you and I have to step in. Even if we have to force him, we must make him obey. Brother Zhao, throughout history, when have the Imperial Guards—the *Jinyiwei*—ever truly been entrusted with great power?"

Zhao Tianlin had never been an official in the Qing Dynasty, so his feeling about this was shallow. He advised, "Brother Wang, Director Wang Bin of the Security Bureau has already decided to release him. If nothing else works, let Donglu go to the factory as a military representative first. I think since Donglu initially wanted to go to the United States to study mechanics, this should suit him very well."

Old Master Wang said with surprise and joy, "Then many thanks to Brother Zhao."

Although his demeanor and tone were sincere, Old Master Wang remained calm inwardly. Having been a Qing official for so many years, he had long mastered the art of navigating social interactions with ease.

At this time, there were words Old Master Wang dared not say. He felt that his son had a strong ambitious spirit. Perhaps influenced by what he saw and heard at home, Wang Donglu's interest in officialdom and governance was actually much greater than in studying mechanics. Precisely because of this, Old Master Wang hoped there would be no 'stain' on his son's resume. Having been an Imperial Guard was undoubtedly the biggest stain on an official's record!

*Fanzi*—the runners and spies—did the shameful errands; it was the position most dreaded and despised by officials.

Wang Donglu didn't know his elders were working hard for his future. As the train arrived in Siping, He Rui and the others transferred to cars and went to the Banshan Reservoir.

At this time, a dam towered at the Banshan Reservoir, and the water rolled toward Siping City through the diversion canal. Everyone climbed the mountain path to the pavilion at the top and saw the vast expanse of water unfolding before their eyes. The mountains on both sides were covered with green vegetation, golden light danced on the lake surface, and flocks of water birds played in the water. It was truly a landscape of picturesque lakes and mountains.

The Japanese zaibatsu representatives also praised the scenery. Not long after, He Rui and the others boarded a pleasure boat on the lake. Wang Donglu and the others stood outside the cabin, while He Rui chatted with the representatives in fluent Japanese.

Now Wang Donglu couldn't understand what was being said inside, but looking at the expressions of the Japanese, they were obviously at a disadvantage.

Wang Donglu wasn't wrong. He Rui truly hadn't expected Mitsui Yasuki to have the guts to propose buying shares in the Northeast Bank. The reason He Rui remained silent was entirely because he didn't want to make the relationship rigid. If He Rui had spoken, there would have been only one choice: to question why Mitsui Yasuki had the audacity to threaten him.

Speaking of which, this is a very realistic matter in politics. At a certain level, one must start with sentiment but stop within the bounds of propriety.

If he accepted Mitsui Yasuki's words, it meant He Rui would have to send someone to see the Japanese Cabinet Minister, or even directly see the Japanese Emperor Taisho, to ask if He Rui could buy shares in the Bank of Japan!

Although in this era, many foreign central banks were private, and many countries didn't even have central banks, this didn't mean one could directly ask to buy shares in the Northeast Bank.

Just reading the bank regulations of the Northeast Government would allow one to understand the nature of the Northeast Bank. People who ask such questions are either stupid or bad!

But since Mitsui didn't continue to be foolish, He Rui let the matter pass. He introduced the construction process of the Banshan Reservoir to the Japanese delegation, seeing it for the first time, and the representatives praised it one after another.

At this time, there were no other people around. The Mitsubishi Zaibatsu representative, sitting intimately in the private setting, asked, "Your Excellency Chairman, I wonder if you know that the coal and ore transported from Manchuria and Mongolia to Japan have already caused a huge impact on the Japanese market. Your Excellency already possesses pricing power in the Japanese mineral market."

He Rui nodded but replied, "I'm afraid we are far from having pricing power."

The Mitsubishi representative looked serious. "Your Excellency Chairman, if the mineral trade between the Northeast and Japan is suddenly interrupted now, it will cause a huge impact on Japan's mineral prices. We came this time to ask if Your Excellency can accept us buying shares in mining enterprises in the Northeast. Only in this way can we reassure many enterprises in Japan."

He Rui chuckled lightly. "Hehe, could it be that someone is worried the Northeast will use the method of interrupting mineral supply to strike at the Japanese economy? If someone thinks so, I really don't understand this view. What good does striking at the Japanese economy do me? Does anyone think I am preparing to wage war against Japan?"

These words made some Japanese zaibatsu representatives change their expressions. Some showed uneasy looks, while others showed joy.

Mitsui Yasuki spoke again at this time. "Your Excellency Chairman, we all believe in your friendship with Japan, and we are also full of friendship for China. The purpose of buying shares is to join hands to build a brighter future for both China and Japan. If we can buy shares in the mineral enterprises of the Northeast, it will make Japan more reassured."

He Rui was not angry, but neither was he polite. "Absolutely impossible! The shares of Northeast mining enterprises have been determined, and various departments in the Northeast have determined the distribution ratio. I cannot persuade them!"

This was lying with eyes open. However, He Rui spoke extremely seriously, as if it were the absolute truth.

As He Rui expected, the Japanese zaibatsu representatives opposite really believed it. It wasn't that these people were naive enough to unconditionally believe He Rui.

Japanese elites naturally had the limitations of elites. Within Japan, various interests were carved up completely by the Japanese upper echelon. As Zhou Shuren (Lu Xun) would later write, 'Moving a chair requires shedding blood!'

This was the current situation in Japan. It wasn't what those people wanted to do, but all spheres of interest had been carved up completely by the Japanese upper echelon, and everyone could only survive in the little space left for them.

Only by creating interests outside these regulations could one fight for the ownership of new benefits. Within Japan, even the various zaibatsu could only operate in their restricted spaces.

So when the Japanese zaibatsu representatives heard He Rui say that the internal interests of the Northeast government had been divided, they naturally believed it. If they didn't believe it, they wouldn't be Japanese.

Mitsui Yasuki bowed his head slightly. "Your Excellency Chairman, can you allow us to establish wholly-owned mines in the Northeast?"

He Rui felt Mitsui Yasuki definitely had other purposes, so he answered according to the policy direction of introducing capital to the Northeast: "We will not refuse any foreign enterprise that abides by the laws and regulations of the Northeast."

Mitsui Yasuki knew the Northeast's policy long ago; these words were for other zaibatsu representatives to hear. Since He Rui insisted on the policy, Mitsui Yasuki continued, "Then can you allow us to open banking businesses in the Northeast? We only have yen in hand, not the Fengtian notes of the Northeast. Regarding these financial transactions, if we can expand banking business, we can definitely help Your Excellency Chairman."

In He Rui's view, this request was not excessive. But He Rui would absolutely not agree. The reason was simple: the Northeast Bank had been established for only a little over two years, and even its own business hadn't been smoothed out yet. Let alone competing with foreign banks with rich experience.

So He Rui refused decisively, "The banking industry in the Northeast is currently very underdeveloped. If you gentlemen want to open banking businesses, you will suffer losses; I won't let you take such risks. We are constantly improving the functions of the Northeast banking industry. If there is any new progress, the Commerce Department of the Northeast Government will contact you gentlemen. Of course, you can also send representatives to the Northeast to communicate with the departments responsible for these tasks at any time."

Mitsui Yasuki was used to He Rui's style. Most of the other Japanese zaibatsu representatives were seeing He Rui for the first time. Hearing He Rui's answer, they couldn't help showing some relief and admiration. He Rui didn't lie and was willing to cooperate. Of course, He Rui would absolutely not give up his dominance. This was undoubtedly the characteristic of a high-level politician and top power holder.

The crowd chatted for a while longer. Seeing He Rui absolutely refused to make concessions, these people shifted the topic to the recent Japanese military operation to attack Vladivostok.

Because Mitsui Yasuki undertook the work of transporting coal and other materials from the Northeast to Vladivostok, he didn't participate in the discussion. The representative of the Mitsubishi Zaibatsu asked, "Your Excellency Chairman, what do you think of this war?"

He Rui answered frankly, "Russia is currently undergoing a civil war, and the civil war hasn't reached its most intense period yet. So neither the Bolshevik government nor the White Army government can spare attention for Vladivostok. The Japanese army is currently unimpeded in Vladivostok, with no rivals. The battle line will advance very quickly, and the Japanese government can also organize some small-scale immigration. The current situation should be like this."

The zaibatsu representatives nodded one after another, and several had joyful expressions on their faces.

He Rui continued to analyze the situation frankly. "However, the victor of the tragic Russian Civil War will definitely be a powerful armed force. And the Japanese government cannot bear the fiscal burden required for a large number of troops and immigrants to develop in Vladivostok. It will definitely reduce troops and try to let those few Japanese immigrants develop on their own. That is to say, two years later, these few Japanese troops and Japanese immigrants without personal arms will be attacked first by guerrillas supported by the victorious side in Russia. In my opinion, Japan will eventually withdraw from Vladivostok due to continuous defeats. In Chinese parlance, a large amount of investment will all be for naught."

The Japanese zaibatsu representatives present were indeed Japanese elites; no one expressed dissatisfaction, and several zaibatsu representatives showed expressions of agreement. Still, someone asked, "Your Excellency Chairman, won't Russia make concessions?"

He Rui nodded. "In Sakhalin, Russia will inevitably give up because it has no Russian Pacific Fleet capable of countering the Japanese Navy. But in Vladivostok, Russia will not give up. Occupying Vladivostok, or even Siberia, is an act where the costs outweigh the gains for the Japanese government; this is the main reason. Moreover, Russia will not adopt large-scale army operations this time, but use guerrilla warfare to cut off the Japanese army's supply lines, attacking and eliminating Japanese settlements. This will make the economic burden of Japan occupying Vladivostok even greater, and casualties will also be greater. Troop withdrawal is an inevitable result."

After He Rui finished speaking, a secretary came in to report, "Chairman, the meal is ready."

He Rui stood up and smiled. "Gentlemen, please go to the second floor; the scenery there is good, we can chat while eating."

Just as He Rui said, the scenery on the second floor of the big boat was excellent. But everyone just ate and chatted; no one mentioned the issue of buying shares in Northeast finance and mines again.

Sated with food and wine, and having chatted happily, everyone returned to Siping City. The secretary responsible for daily work delivered telegrams. The main leaders of the Northeast all wanted to know if a meeting should be held regarding this matter. These young people who initially followed He Rui had been growing rapidly in these few years. They were no longer He Rui's subordinates, but He Rui's comrades. At this time, they no longer needed to run to He Rui for a meeting whenever they encountered something.

He Rui smiled. "There won't be a specific meeting for these people, but there will be a meeting for this matter. This time, someone on the Japanese side wanted to probe us to see if they could control our economic core. The meeting has only one topic: what is the war of industrialized nations."