台资金融机构要不要来？

Taiwan financial institutions should don't come?

　　当大陆经济开始缓慢爬坡，而中资银行的崛起迫使曾经雄心勃勃的外资银行节节撤退。

When the mainland economy began to slow creep,And the rise of Chinese Banks forced once ambitious foreign Banks successively retreat.

　　蔡明忠没有直接回答。相反，身为市值1305亿美元（数据截至2012年6月底）的台湾最大私营金融服务企业之一——富邦金控的董事长，他的演讲开场白是“今天天气很好”，尽管时值初秋，北京的天空灰蒙蒙一片。

CaiMingZhong did not answer directly.instead,As a market value of $130.5 billion(Data up to the end of June 2012)The Taiwan's largest private financial service enterprise, one of fubon, chairman of the board,His speech is opening"The weather of today is very good",Although chronaxie early autumn,Beijing grey a piece of the sky.

　　他有他的理由：“冷空气会把尘埃都扫掉，明天就是个大晴天了。”

He has his reasons:"The cold air will sweep away all the dust,Tomorrow is a sunny day the."

　　现年56岁的蔡明忠似乎给出了某种暗示。事实上，富邦不仅来了，而且在悄无声息之际已经成功布局大陆“金融百货”，为台资金融机构第一家。

CaiMingZhong, 56, seems to be given some suggested.In fact,Rich nations not only come,And in the quiet of the mainland has been successfully layout"Financial department",Taiwan financial institutions for the first company.

　　2008年底，富邦金控借其全资子公司富邦银行（香港）收购厦门银行近20%的股份，成为首家参股大陆银行的台资金融机构；2010年，富邦产险子公司——在厦门成立，为EC-FA（海峡两岸经济合作框架协议，E-conomic　Cooperation　Framework　A-greement）生效后首家进入大陆的台资产险公司。同年，与中信集团合作，开展融资租赁业务；2011年，子公司富邦投信和方正证券(601901,股吧)合资成立“方正富邦基金管理公司”，亦为第一家两岸合资基金公司；今年12月，台北富邦银行苏州代表处将开门营业。至此，其两岸三地金融布局已经成型。

By the end of 2008,Fubon, through its wholly owned subsidiary fubon bank(Hong Kong)Xiamen bank acquisition of nearly 20% of the shares,Become the first mainland bank shares of financial institutions in Taiwan;In 2010,,Fubon property subsidiary company in xiamen - was established,For EC - FA(Cross-strait economic cooperation framework agreement,E - conomic Cooperation Framework A - greement)The first home take effect in the mainland, Taiwan of property insurance company.In the same year,And the citic group cooperation,Carry out financing lease business;In 2011,,Subsidiary I fubon and founder securities(601901,guba)Joint venture established"Founder fubon fund management company",Also for the first a cross-strait joint venture fund company;In December of this year,Taipei fubon bank suzhou office will open.So far,The interrelations financial layout has been forming.

　　外界解读富邦金控布局大陆“出其不意”，蔡明忠本人也数度提及要“大胆西进”，但其大陆战略却是早有筹谋。他说：“做生意就是"种因缘"。”

The outside reading fubon mainland layout"surprise",CaiMingZhong I also mentioned several times to"Bold west",But the continental strategy is early have plotting.He said:"Business is"Kind of karma"."

　　熟人生意里的风险控制 Acquaintances in the business of risk control

　　既然讲“因缘”，做的就是熟人生意。蔡明忠并不讳言2008年底通过富邦银行（香港）收购厦门银行20%的股份有相当的考虑在于它所处的厦门“台商较多，比较容易打开局面”。但台商显然不是这起交易得以成行的唯一因素。

Since speak"karma",Do is business acquaintances.CaiMingZhong is not the truth by the end of 2008 through the fubon bank(Hong Kong)Purchase a 20% stake in xiamen bank a consideration is that it in xiamen"More Taiwanese,Easier to open the situation".But Taiwan is obviously not the deal is the only factor to travel.

　　蔡明忠提及两个人：邹尔均，闽港闽澳闽台经济合作促进会副主席，原厦门市长；另一位是何立峰，前厦门市委书记，现任天津市委副书记暨滨海新区管委会主任。前者从中牵线，后者大力促成，说“人缘”在某种程度上决定了这起交易并非全无道理。至少蔡明忠一直在说“人能在一起都是缘分”。

CaiMingZhong mention two people:ZouEr are,Fujian port fujian Macao fujian and Taiwan economic cooperation promotion association vice President,Original xiamen mayor;The other is a HeLiFeng,Xiamen municipal party committee secretary before,Incumbent vice secretary of tianjin municipal party committee and binhai new area management committee director.The former matchmaking from,The latter vigorously to,said"popularity"To a certain extent determines the transaction is not devoid of reason.At least CaiMingZhong has been said"One can together have is fate".

　　但是“缘分”无法规避商业合作中的风险——风险控制才可以。蔡明忠笑称，在台湾，尽管他与其弟蔡明兴分别担任富邦金控董事长和副董事长，被媒体称为“大董”、“二董”，但公司的风险控制权却在老爷子蔡万才手上。正是这位年逾八十的台湾第二代企业家在2008年金融风暴来临之前就嗅到了危机的味道，劝诫两个儿子谨慎投资，从而使得富邦金控不仅成功躲过一劫，而且顺利低价并购了有荷兰资本背景的ING安泰人寿。

but"fate"Can't evade the risk business cooperation, risk control can.CaiMingZhong smile said,In Taiwan,Although he and his brother CaiMingXing fubon respectively as the chairman and deputy chairman of the board of directors,Is called by the media"Big dong"/"Two tung",But the company's risk control but he CaiWanCai in hand.It is the years more than eighty Taiwan second generation entrepreneurs in 2008 before the financial storm, smell the smell of crisis,Preaching two sons cautious investment,In order to make the fubon, success not only avoid the hook,And smooth low mergers and acquisitions a Dutch capital background ING antai life.

　　然而，厦门银行却没有这样一位经验丰富的“风控大师”（蔡明忠语）。对此，蔡明忠的做法是：为厦门银行引进第一位台湾籍行长高朝阳和风控长。这不禁让人心生疑问：持股仅20%的富邦金控为何能在厦门银行高层任免上有所发言？

however,Xiamen bank have no such an experienced"Wind control master"(CaiMingZhong language).this,It is CaiMingZhong:Xiamen for the introduction of the first Taiwanese President high sun and wind control long.This can't help letting people born doubt:Only 20% of the shareholding fubon, why can the appointment and removal of the top in xiamen bank has to speak?

　　对此，台湾《壹周刊》曾在报道中提及，富邦金控曾在正式签约前前往厦门银行面试其高管并决定后者去留。但这一说法被富邦金控否认。它给出的版本是，厦门银行大股东——厦门市政府当时引进富邦作为战略性投资伙伴时，就是希望能借助富邦在台湾的经营经验，因此同意由后者提名行长及风控长。

this,Taiwan[Next magazine]Had mentioned in the report,Fubon, once the formal contract to xiamen bank before the interview the executives and decide the latter future.But this is the one that was fubon, deny.It gives version is,Xiamen bank big shareholders - xiamen government was introduced as a strategic investment partners fubon when,Is hoped to use the rich nations in Taiwan's business experience,Therefore agreed to by the latter nominated governors and wind control long.

　　不管过程如何，我们看到的结果是，该行在2008年底之后的确在风控上逐步“富邦化”。比如说，参股三年后，厦门银行逾放比（逾放款对总放款之比，台湾银行业用语）由2010年的1.47%下降至2011年底的1.03%；备抵呆账覆盖率则由2010年的213.5%提高至2011年的359.7%。此外，厦门银行目前所有放贷都合规，其风险控制被当地监管层引为范本。严格风控下的厦门银行盈利能力也得到了保证。2011年，厦门银行税后盈余3.78亿元，较2010年增长177%。

No matter how the process,We see the result is,At the end of 2008 the bank after the wind really control has been gradually"Fubon change".For example,Participation three years later,Xiamen bank overdue ratio(More than lending to the total loan ratio,Taiwan banking terms)From 2010 years of 1.47% to 1.03% by the end of 2011;The allowance for bad debts coverage by 2010 is increased from 213.5% in 2011 to 359.7%.In addition,Xiamen bank at present all lending are compliance,Its risk control by local regulatory layer bring to template.Strictly control the wind of xiamen bank profitability also get a guarantee.In 2011,,Xiamen bank after-tax surplus RMB 378 million yuan,A growth of 177% in 2010.

　　不仅投资银行如此，富邦金控与方正证券合资设立“方正富邦基金管理公司”时，也要求新公司的第一任总稽核为富邦委派。有所不同的是，如果说参股厦门银行是借道香港，“曲线救国”，那么富邦金控与方正的“联姻”则更像是水到渠成。

So not only investment bank,Fubon and founder securities joint venture set up"Founder fubon fund management company"when,Also requires new company's first head audit for rich nations delegate.Is different,If the participation xiamen bank is tailgating Hong Kong,"Curve salvation",So fubon and founder"marriage"More likely as follow.

　　在北大国家发展研究院（简称“国发院”）万众楼里，蔡明忠提到了他与该院创始人、世界银行前任首席经济学家林毅夫10年前的一次会面。两人都是青年时代前往美国求学的台湾人。“我们当时都在说，为什么外国人在酒会上要站着喝酒，还到处走来走去？吃橄榄的时候也以为是葡萄，还说美国葡萄怎么这么硬。”

At Peking University institute of national development(Referred to as"Guo fa yuan")One building,CaiMingZhong mentioned he and the founder of the hospital/Former world bank chief economist Justin yifu Lin 10 years ago a meeting.Two people are youth to study in the United States of the people in Taiwan."We were both in the said,Why do foreigners in the cocktail party want to standing drinking,Still walking?Eat olives also think is grapes,Also said the United States grape how so hard."

　　此后十年，蔡明忠开始以个人名义捐助国发院的奖学金项目。除了林毅夫，另外一个与富邦金控颇有渊源的“北大人”便是国发院现任常务副院长巫和懋。在担任台湾中华经济研究院（台湾最大的政策性智囊机构）副院长期间，他被马英九派到富邦银行做独立董事。2009年，富邦金控与北大光华管理学院共同成立“北大光华－富邦两岸金融研究中心”。这都为这家台资金融机构与北大方正的合作打下了基础。“我找合作伙伴，合得来最重要。这样沟通会比较顺畅。”蔡明忠说。

After ten years,CaiMingZhong began to personal nominal donation nation court of the scholarship program.In addition to Justin yifu Lin,Another and fubon quite have the origins"Peking University people"Is guo fa yuan current standing vice President ho-mou wu langrun chair.As the Chinese economy research institute in Taiwan(Taiwan's biggest policy thinktank)During the vice President of the,He was sent to ma ying-jeou fubon bank do independent directors.In 2009,,Fubon with Peking University guanghua school of management jointly set up"Peking University guanghua - fubon financial research center on both sides".This is the taiwan-owned financial institutions and Peking University founder cooperation laid a foundation."I am looking for a partner,Hit it off the most important.Such communication will be much more smoothly."CaiMingZhong said.

　　优势在哪里？ Advantage in where?

　　台资背景曾经是富邦金控等在大陆开疆辟土的最常用工具，因为台商在过去半个世纪的发展过程中已经形成了金融和产业“如影随形”的习惯。但随着大陆日渐开放，外资金融机构逐渐增多，内地银行也迅速崛起，台资金融机构想要在大陆的广袤市场里分一杯羹正在变得越来越不容易。这一点在大陆经济增速放缓、工厂倒闭潮再次隐现时便更为明显。比如说基金业，蔡明忠坦言，新成立的方正富邦基金管理公司已经做好思想准备“筚路蓝缕”，艰苦创业。“内地基金业刚开始获利很好，因此员工薪水很高，但现在大陆市场很辛苦，我们的规模又比较小。而且证券业不好，员工的期望薪水也不会降下来。”

Taiwan background was fubon in mainland China, such as the warriors monarch soil of the most commonly used tool,For Taiwanese businessmen in the past half a century has been formed in the process of the development of the financial and industrial"ruyingsuixing"habits.But with the mainland by an increasingly open,Foreign-funded financial institutions increased gradually,The mainland bank also rapid rise,Taiwan financial institutions to want to be in the mainland of China's vast market in a slice of this action is becoming more and more is not easy.This point in the mainland economy growth is slowing/The factory is closed tide again when it looms is more obvious.For example funds,CaiMingZhong said,The newly established founder fubon fund management company has prepare"Blaze a trail",Hard work."The mainland first funds profit is very good,So the staff salary is very high,But now the mainland market is very hard,Our scale and smaller.And securities business is bad,The expectations of the staff salary also won't fall down."

　　内地目前行情并不乐观，但长远的机会却让富邦金控们不得不进来。这个机会一方面是大陆潜在的经济增长，另外一方面却在于台资金融机构与大陆同行在金融理念和服务上的差距。

The mainland at present market is not optimistic,But long-term opportunities but let fubon, people had to come in.This opportunity on the one hand is continental growth potential,On the other hand lies in Taiwan financial institutions and the mainland counterparts in the financial concept and service gap.

　　“大陆同业有自己的优势。但台湾金融业已经充分发展三十年，我们希望借助我们领先的经验站稳脚跟。”蔡明忠所说的经验指的是金融业具体的操作经验，比如要求厦门银行减少对公业务和增加小额商贷业务。

"The mainland trade has its own advantages.But Taiwan's financial industry has full development thirty years,We hope that through our leading experience gain a firm foothold."CaiMingZhong said experience refers to the financial industry specific operation experience,For instance the requirement xiamen Banks to reduce probability increase business and small business credit business.

　　面对台资同行一窝蜂成立租赁公司，蔡明忠有不同的看法。他认为，台资同行对于大陆市场的了解不够透彻。“租赁公司的杠杆不够，能做的放款有限，未来经营上会碰到很大的困难。因此富邦的重点还是会放在拓展银行业务上。”

In the face of the leasing company established Taiwan counterparts,CaiMingZhong have different opinions.He thinks,Taiwan counterparts for the mainland market understanding is not enough thoroughly."Leasing companies leverage is not enough,Can do loan limited,The future business will run into a lot of difficulties.Therefore the focus of fubon will expand business in the bank."

　　在蔡明忠的规划中，厦门银行追随台商的基本步伐不会变——比如说应重庆吸引台商的号召而将首家福建省外分行开在了当地；同时，它也将服务于内地顾客，尤其是微小公司，这与大陆银行对于大项目，尤其是有政府背景的项目，倾向性不同。

In CaiMingZhong in planning,Xiamen Banks to follow the basic pace Taiwanese will not change - for example should be chongqing attract Taiwanese businessmen's call for the first outside fujian province branch open in the local;At the same time,It will also serve the mainland customers,Especially small company,This and the mainland bank for large projects,Especially the background of the project,Tendentiousness different.

　　“大陆的"十二五"规划中提到了金融改革。按照这个方向，总有一天利率会市场化。我们做小商（小企业贷款）业务比较有经验。目前已经占到了厦门银行总放贷的四成多。”蔡明忠说大陆同行“身强体壮，但还需要学习更细腻的金融。前几年的发展较快，有政策扶持。但现在经济已经slow　down（慢下来），以后的挑战会更多”。

"mainland"1025"Planning mentioned in the financial reform.According to the direction,There is always one day rate will marketization.We do small(Small business loans)Business is more experienced.At present has accounted for forty percent of the total bank lending xiamen more."CaiMingZhong said the mainland counterparts"'m strong,But also need to learn more exquisite financial.The fast development of a few years ago,A policy support.But now that the economy has been slow down(Slow down),The challenges of the future will be more".

　　尽管服务内地顾客已经成为富邦金控的业务重点，但是这正映射了这家台资金融机构在大陆的挑战所在。

Although service mainland customers has become fubon business focus,But this is mapping the Taiwan financial institutions in the mainland in the challenge.

　　“台湾人”待遇 "Taiwanese"treatment

　　“从根本上来讲，台资金融机构在大陆最大的困难与十年前相比并无太大区别，那就是：政策准入。”

"Fundamentally speaking,Taiwan financial institutions in the mainland's biggest difficulties compared with ten years ago and no much difference,That is:Policy access."

　　比如说，在证券业，台资与外资一样，参股既存非上市券商的持股上限为33%且不得经营获利最丰的A股经纪业务；在保险业，人寿参股合资的比例最高为50%，且大陆与外资只能各一家参股，这使得台资不可能处于控股地位；在银行业，参股比例不得高于20%，否则目标银行会被视为外资银行。

For example,In the securities,As Taiwan and foreign capital,Participation of private existing securities holding 33% ceiling and does not operate the most abundant profit of A share brokerage business;In the insurance,Life equity joint venture the highest percentage is 50%,And mainland and foreign capital can only the a shares,This makes Taiwan may not in holding status;In banking,Shareholding proportion shall not be higher than 20%,Otherwise the target bank will be regarded as foreign investment bank.

　　此外，蔡明忠也提及，大陆国有银行在申请贷款额度上也比台资同行“便利”。“未来我们希望在各项准入条件上，能取得比外国人更好的待遇，所谓"台湾人待遇"，或者叫做"WTO+"待遇。”蔡明忠强调。

In addition,CaiMingZhong also mentioned,The mainland state-owned Banks in apply for loans on Taiwan than peers"convenience"."In the future, we hope that in the access condition,Can obtain better treatment than foreigners,The so-called"Taiwanese treatment",Or called"WTO +"treatment."CaiMingZhong emphasize.

　　目前，富邦金控下的大陆业务中，富邦财险签单保费收入达到近5000万人民币，在厦门市18家保险公司中排名第九，其中六成收入来自汽车保险业务，而这正是其台湾母公司最擅长的业务。然而，台湾富邦的财险业务收入为50亿，厦门子公司的收入为其百分之一；厦门银行的年获利为4亿，分摊给富邦金控的收益约为一个亿，不足台湾富邦银行年获利的二十分之一。至于基金管理和证券等其他业务则尚未完全展开。虽然富邦金控的大陆“金融百货”布局已经初现雏形，但其大陆之旅跟众多其他台资金融机构一样，有很长的道路要走。

At present,Fubon, in the mainland business,Fubon sign the bill general insurance premium income reached nearly 50 million yuan,In xiamen and insurance companies ranked in the ninth,Sixty percent of income comes from car insurance business,And this is the best at Taiwan parent company business.however,Taiwan fubon of general insurance business income for 5 billion,Xiamen subsidiary income for its one percent;Xiamen in the bank profit for 400 million,Fubon, contribution to the income of about a,Shortage of fubon bank of Taiwan in one over twenty of the profit.As for fund management and securities and other business, has not yet fully extended.Although fubon continent"Financial department"Layout has the presentembryonic form,But the trip to the mainland to Taiwan as many other financial institutions,Have a long way to go.

　　富邦金控计划下一步在漳州、天津、南昌等地开设厦门银行分行或者并购其他同业使之成为分行；台北富邦银行苏州代表处也即将申请升格为分行或子行；同时，它正在谋求参股第二家内地银行。“近期（富邦金控）会有更大的动作突破。”蔡明忠透露。

Fubon, plan the next step in zhangzhou/tianjin/Nanchang, open xiamen branch bank or buy other trade make it become the branch;Taipei fubon bank suzhou office will apply for upgraded to the branch or the son line;At the same time,It is seeking a second home equity participation mainland bank."recent(fubon)There will be more action breakthrough."CaiMingZhong revealed.

　　值得注意的是，虽然富邦金控在2010年就已经有“此后十年一半利润来自大陆”的目标，但大陆并不是其目前唯一的战略重点。在海外布局上，富邦金控已经设立越南富邦产险公司和富邦人寿公司；而在台湾本土，传富邦金控有意在9月底以约19亿人民币收购壹传媒集团旗下平面媒体——《苹果日报》和《壹周刊》，但此消息未经蔡明忠证实。

It is important to note that,Although fubon, in 2010 it has been"Then ten years half profit from mainland China"goal,But China is not only its current strategic focus.In the overseas layout,Fubon, has been set up Vietnam fubon property insurance company and fubon life insurance company;And in Taiwanese,Preach fubon, interested in the end of September to about 1.9 billion yuan purchase one media group's plane media --[Apple daily]and[Next magazine],But the message without CaiMingZhong confirmed.