Yin Zhongrong is very studious, races against time, and often never lets go of his books. After extremely busy work, his biggest hobby is reading. I always have a book in my hand, whether on a business trip or after a meeting. He is an engineering background and has in-depth research on natural science. He has published influential monographs such as Engineering Mathematics and Electromagnetism. Later, due to the needs of his work, he taught himself many economic works and wrote many economic papers, with very original and incisive opinions and opinions. His deep foundation of learning from the West, learning from the old and learning from the new was extremely rare in the political and academic circles of Taiwan Province Province at that time.

Born in a gentry family, he dabbled in China ancient books and studied deeply. In his early published articles, he often quoted the works of Mencius, Xun Qing and Guan Zhong. As Mencius said: "If a wise monarch manages the wealth of the people, he will be able to adopt his parents and save his wife. He will live happily all his life, avoid dying in a fleeting time, and then follow the good trend, then the people will be lighter. " He believes that "it is the beginning of kingly way to make people keep fit and die without regret". Although he studied science and engineering and used his spare time, he wrote a biography for Lv Buwei, annotated Lu Chunqiu and compiled Guo Songtao's Chronicle. Lv Buwei was a great businessman in the Warring States period, and Guo Songtao was a famous diplomat and advocate of western learning in the Qing Dynasty. Their works have had a far-reaching impact on Yin Zhongrong's economic thought all his life. Yin Zhongrong was the chairman of Taiwan Province Foreign Trade Association, the vice chairman of American Aid Society and the chairman of Taiwan Bank. According to the signing report of the Ministry of Foreign Trade, he learned that the price of licorice in Chinese medicine is the lowest in Iran; South Korea's yellow flowers and red ginseng have the lowest prices. In order to save foreign exchange, he immediately formulated a method to limit the procurement area. After the publication of this method, due to the uncertain shipping schedule between Iran and South Korea, they refused to sell in small quantities, while the demand in Taiwan Province Province was not large. If they purchased in large quantities, it would inevitably increase the capital and interest burden on the operators, and as a result, the buyers and sellers were frozen. The collision between the two sides caused the price of traditional Chinese medicine to skyrocket. After Yin Zhongrong discovered the mistake, on the third day after the publication of the new method, he immediately canceled the previous order, restored the original method, and publicly admitted his mistake to the press. At that time, a reporter asked, "Aren't you always changing?" He replied bluntly: "If you know your mistake and don't change it, that's great!" The reporter asked: "Isn't this detrimental to the government's prestige?" He said: "If you don't change your mind, it will really damage the prestige of the government and may kill many patients." This is the true story of Yin Zhongrong who dares to abandon his face and frankly admit his mistake.

In his economic work, Yin Zhongrong is famous for his integrity and dedication to the people of Taiwan Province. On one occasion, two units gave him generous "travel expenses", which were severely reprimanded by him and all returned. Every time he visited various places, he never reimbursed his travel expenses, saying, "If someone has been entertained below, don't report his travel expenses again." He asked his secretary to return all the "red envelopes" given by his subordinates for their birthdays. Among government officials, his official position is not low, but he has been living in a shabby house of less than 70 square meters. Many business tycoons refused to buy luxury villas for him one by one and seriously criticized them. At the same time, he repeatedly told them that "it won't happen again", which fully reflected his integrity and integrity. Yin Zhongrong's basic economic thoughts are "storing wealth for the people", "sharing wealth" and "supporting the people". The economy of Taiwan Province Province should develop rapidly under the mode of "planned free economy". In the early days, Taiwan Province Province had neither funds nor talents, so its resources were limited. I don't know when people can naturally produce enterprises. Private enterprises can't develop either, so they can only rely on the authorities. Yin Zhongrong believes that the authorities should develop industries first, and then turn the industries that have begun to take shape into private enterprises, thus forming a planned free economy. The authorities only plan the overall situation and do not control production equipment or economic activities. All private enterprises have the greatest freedom. Fostering Wang Yongqing is the most obvious example. How many companies does Wang Yongqing run?

Private enterprises, "repeated wars and repeated defeats." In the end, he chose the plastic industry, but he lacked funds and was refused loans by the government and banks. Finally, he found Yin Zhongrong, and Yin Zhongrong added fuel to the fire and decided to give Wang Yongqing a lot of loans, which finally made Wang Yongqing, a private enterprise on the verge of bankruptcy, develop into one of the largest plastic enterprises in the world.

At that time, the political economy of Taiwan Province Province was in jeopardy, and the mantra of politicians and bureaucrats in Taiwan Province Province was: "Do less and make fewer mistakes, and don't do it well." Yin Zhongrong stepped forward and said, "People have to do things. If I don't go to hell, who will? " He was advised to be more sensible and less responsible. He replied indignantly, "Do you know the true meaning of the word responsibility? The prefix "responsibility" is the word "main", and here is the word "Bei" for the baby. Only when you are the master, do you have the responsibility, and you can generate valuable money. If you put the blame on others, wouldn't it be a' debt'? When an official owes the country, the country will owe the people. " This is Yin Zhongrong, who has a frank personality and dares to take responsibility. His motto is "You can do whatever you want, but please be worthy of my heart". Yin Zhongrong has always acted boldly and has a farther vision than ordinary people. The policies he participated in often affected those with vested interests, but he remained selfless and determined. He formulated and implemented the policy of "weaving instead of spinning" for Taiwan Province Province, because he saw that there were a lot of cotton in American aid materials, and the weavers brought some machines when they came to Taiwan Province Province, so he controlled the import of Japanese cotton and cotton yarn, and then wholesale a large number of American aid cotton to manufacturers in Taiwan Province Province, and paid them a processing fee, and the final products were also purchased by the authorities. At that time, the voice of attacking Yin Zhongrong in society resounded through the ruling and opposition parties, but Yin Zhongrong was unmoved. Finally, the textile industry in Taiwan Province Province has changed from the original annual import of 1000 million dollars to the export of 60 million dollars. By the time the authorities stopped this policy in 1953, the textile industry in Taiwan Province Province had entered a stable stage, which laid a deep foundation for the textile export in the next decade.

Later, it was concluded that Yin Zhongrong's policy of "replacing weaving with spinning" at that time made the textile industry gain unprecedented huge profits and accumulated abundant capital. These capitals were invested in other industries, thus promoting the all-round and rapid economic development of Taiwan Province Province. Taiwan Province's Far East, Yulong, Liuhe, Tainan and other big consortia all started from Yin Zhongrong's textile policy. Yin Zhongrong has made great efforts to the electric power and transportation in Taiwan Province Province, because it is the hub of economic operation. At that time, the letter of credit issued by Taiwanese banks showed signs of rejection internationally, and Yin Zhongrong bought a large number of generators with less than $2 million in foreign exchange reserves for the fragile industrial development of Taiwan Province Province. By the end of 1952, all production indexes had reached the highest output during the Japanese occupation of Taiwan Province Province, and the economy was relatively stable. He often said, "A thousand people's Nuo Nuo is not as good as one person's admiration." He is a brave flatterer himself. Yin Zhongrong's economic thought, the most important thing is to advocate comprehensive economic reform and development, rather than treating the symptoms rather than the root cause. With Yin Zhongrong's drastic reform and promotion, Taiwan Province's economy has gradually stabilized and inflation has basically been lifted. However, the further development of Taiwan Province's economy is limited by Taiwan Province's small market. The only way to break through this difficult bottleneck is to open the export market and reform the foreign exchange trade policy. To this end, Yin Zhongrong boldly carried out three very important and risky reforms according to the situation. First, gradually establish a free trade system, abolish quantitative control and dual exchange rate, and restore the price function; Second, adjust the exchange rate, partially adopt a flexible model, cancel unnecessary disguised subsidies for many imported materials, and cancel disguised taxes on many exported materials; Third, take a number of effective measures to encourage exports and stimulate the rapid development of Taiwan Province's internal economy.

In the early 1960s, many people suggested that Taiwan Province Province adopt Keynes's theory of promoting investment and production through consumption, which was widely adopted internationally. After careful study and scientific thinking, Yin Zhongrong thinks that Keith theory, which is widely used in the world, is not applicable to Taiwan Province Province. He hit the nail on the head and pointed out: Consumption promoting production and investment is not entirely an armchair strategist, but Taiwan Province Province did not have such conditions at that time, but needed to use the limited available resources in Taiwan Province Province to build a strong production capacity. If we stimulate investment by taking risks, that is, increase consumption and consume the very limited available resources in Taiwan Province Province, what resources do we need for investment? After scientific argumentation, he insisted that in the complicated process of economic development in Taiwan Province Province, the currency should be stabilized and the credit expansion policy should be resolutely implemented. Under the guidance of Yin Zhongrong's economic thought, the investment and production in Taiwan Province Province have developed very stably and well.

Yin Zhongrong lived very frugally, and did part-time jobs without pay. He got more than 400,000 US dollars in commission in negotiating trade affairs with Japan, all of which were reserved for public use. 196365438+1On October 24th, Yin Zhongrong died in America at the age of 60.