Chapter 294: The Proposal

Li Guang smiled and said, “A gift this valuable—I really can’t accept it!”

Based on his own estimation, the market potential for this seatbelt was easily worth over ten million yuan.

If someone received one unit, they could reverse-engineer it and have it manufactured again. Once they registered a patent, they’d be able to earn money without lifting a finger.

“Mr. Li, compared to what you’ve done for our country, this is merely an insignificant seatbelt. There’s nothing precious about it,” Minister Gao said righteously.

At this moment, he still had no idea just how much potential this little seatbelt held.

The country’s foreign currency reserves currently stood at only over forty million—less than fifty million U.S. dollars.

Yes, that’s it.

To put that in perspective, Japan had 1.7 billion USD in reserves in the same year, and Germany had 4 billion—about a hundred times what China had. It was painfully clear how pitiful the nation’s foreign exchange reserves were.

Li Guang analyzed the situation seriously.

“Minister Gao, I’m not joking. I’ve learned that the Ford Motor Company is currently developing something similar to a seatbelt. While the seatbelt might not seem very useful in China right now, it would hold great value abroad.”

Minister Gao was momentarily stunned by Li Guang’s words, then surprised. He really hadn’t expected something as unremarkable as a seatbelt to hold such great market potential overseas.

“Mr. Li, does this seatbelt really have that much value?”

“That’s right,” Li Guang replied solemnly.

He added, “Minister Gao, you have to understand—foreign countries already have tens of millions of cars, and that number is only going to grow. Many nations are actively developing their automobile industries right now.”

“Tens of millions of cars—if each one were equipped with a seatbelt, how much revenue would that generate? At the very least, it could bring in tens of millions in foreign currency,” Li Guang revealed another explosive piece of information.

Minister Gao was a bit dazed by the sudden good news.

He found it hard to believe. “Mr. Li, you’re not pulling my leg, are you?”

Li Guang was truly worthy of being a patriotic overseas Chinese, revealing the potential value of the seatbelt so readily.

If this had been a profit-driven businessman, they’d have rushed to register the patent themselves, then sold it at a high price—or even auctioned it off for a fortune in licensing fees.

“I never joke about matters like this,” Li Guang said, shaking his head.

Minister Gao snapped back to his senses and asked excitedly, “Mr. Li, what do you think I should do to maximize the profits from this seatbelt?”

In this area, he definitely wasn’t as knowledgeable as Li Guang, who was an experienced businessman. And given the current restrictions on private trade in the country, his own experience was quite limited.

“There are two options. One is patent licensing—this doesn’t require any additional cost. Companies can only produce seatbelts after obtaining the license.”

“The other option is for the state to manufacture the seatbelts and export them overseas.” Li Guang laid it out clearly.

He added, “Whichever of the two we choose, the first step must be to register the patent. Otherwise, if Ford develops the product first and registers their own patent, it’ll be too late.”

It’s important to understand that global patent validity periods vary by country and region, but the three main types—utility patents, utility model patents, and design patents—each have different protection periods.

Utility model patents usually last 10 years from the application date, meaning the effective period is often less than 10 years in practice.

Design patents are also typically protected for 10 years, though this varies across countries. In most cases, the period is counted from the application date as well.

Minister Gao nodded in realization. “Thank you for the reminder, Mr. Li. I’ll have someone file the application right away!”

“Leave this to me,” Li Guang offered. “The U.S. is still imposing a full blockade on our country, so it’ll be easier if I apply. I have some connections in this area.”

“Also, if we wait to get the paperwork ready domestically, Ford might have already developed and patented the seatbelt by then.”

Minister Gao agreed that Li Guang had a point and said, “Then I’ll trouble you with this task, Mr. Li.”

“Looks like this comrade Zhou Yimin really is a lucky star,” Minister Gao couldn’t help but sigh.

Zhou Yimin was someone who held an honorary position within their Ministry of Commerce.

Li Guang became intrigued when he heard Minister Gao mention Zhou Yimin. He figured this Zhou Yimin must be the inventor of the seatbelt, so he asked, “Comrade Zhou Yimin—is he the one who invented the seatbelt?”

Minister Gao nodded. “That’s right. And not just the seatbelt—Comrade Zhou Yimin also invented the electric rice cooker and instant noodles, which are both being exported abroad. Domestically, he invented the solar stove and the pressure water well. All of these are beneficial to both the nation and the people.”

Hearing that, Li Guang grew even more interested in Zhou Yimin and asked, “Minister Gao, I’d really like to meet Comrade Zhou Yimin. Would it be possible to arrange a meeting?”

He considered Zhou Yimin a real talent, someone who had invented so many practical items. There might be a chance to collaborate.

“Sure—how about tonight? I’ll arrange a dinner meeting,” Minister Gao suggested.

He also asked, “Mr. Li, between the two methods you mentioned earlier, which one do you think suits the current domestic situation better?”

It was a question he hadn’t yet answered, and now that he had a professional to consult, he wasn’t going to let the chance slip by.

“I think the best method is patent licensing. The price of a seatbelt isn’t very high.

Right now, a car sells for around two to three thousand U.S. dollars. The seatbelt accounts for a very small portion of that—probably around twenty to thirty dollars,” Li Guang explained.

He added, “If we produce domestically and then export, the transportation costs might exceed the seatbelt’s actual value.

If the price of the seatbelt gets too high, it could push car companies to develop their own alternatives.”

After all, companies are in it to make money. If the price is reasonable, they’ll be happy to just license it rather than spend extra on R&D for a substitute.

After hearing Li Guang’s analysis, Minister Gao found it very convincing. His initial idea was to manufacture domestically and export, which would involve building factories and creating jobs.

“One conversation with you is worth more than a decade of reading. Alright, we’ll go with your plan, Mr. Li!” Minister Gao said.

A professional really was different—he’d immediately laid out all the pros and cons with clarity.

After the two of them finished their discussion, they had their plan to maximize profits from the seatbelt. All that remained was to submit it for approval and wait for the higher-ups to give the green light.

(End of Chapter)