Reinventing the Millennium.

Chapter 721 Triangle (Two in One)

The Xiangjiang Roadshow of Bank of China has attracted much attention. It announced the itinerary and invited institutions and media long before the senior team came to Hong Kong.

Most people are very interested in this roadshow.

However, on the afternoon of February 2th, many institutions made it clear that they would not be present, and the representatives of the institutions, corporate executives, investors, and reporters who were present were more or less in the mood of watching the excitement.

It is another matter whether the Bank of China is listed to buy or not. Anyway, today's scene is like this.

The conference hall had been selected long ago, it was very spacious and could accommodate many guests, but at two o'clock in the afternoon, looking around, almost half of the seats were vacant, and it looked quite deserted.

A reporter was already filming the road show scene, and the Hong Kong investors in the audience watched someone from the road show team come forward to communicate with the reporter, and couldn't help showing a narrow smile.

In today's situation, on the one hand, someone said hello, and on the other hand, I heard that a certain shareholder sitting on the stage had a bad attitude towards Hong Kong capital, and even said that Xiangjiang people need to look at his face when they come to Shanghai.

How can this be tolerated?
I also thought it was a rumor at first, but then I saw the collision between someone and the Li family picked up by the media, which forced the always good-tempered Li Chaoren to choke during the interview.

At [-]:[-], the faces of the road show team were quite serious.

President Li couldn't help asking Mr. Fang: "Where is the person arranged by Goldman Sachs?"

"They're all sitting here," Fang Zhuo replied.

President Li frowned, the co-author was already seated and still so deserted.

He asked again: "Boss Fang, where is the friend you invited? Are you sitting down too?"

Fang Zhuo glanced at it: "It's not here yet, I said three o'clock, it should be almost here, maybe it's a Mazda, there's a traffic jam."

President Li didn't understand Mr. Fang's joke. Seeing Xiangjiang reporters patting there, he couldn't help but frowned again.

Just as he was about to speak, he heard Boss Fang's voice of "here comes one", so he turned to look at the sign-in area.

Indeed one.

A well-dressed middle-aged man came to greet the host after signing in.

"Mr. Li, Mr. Fang, I'm Li Ruide, the deputy general manager of Li Ning Group. I happen to be on a business trip in Xiangjiang, and I'm here to hear about our economic development." Li Ruide, the vice president of Li Ning Group, shook hands enthusiastically.

Fang Zhuo exchanged greetings, and then led him to a seat. The Li-Ning brand was discussing cooperation with the Rockets, which is so related.

President Li waited for Mr. Fang to come back and said helplessly, "Mr. Fang, did you find a clothes seller?"

Fang Zhuo replied seriously: "Li Ning is also a listed company of Xiangjiang. Last year, ah no, it is already the year before last. It was listed here the year before last."

President Li sighed softly, he could kind of guess what the Xiangjiang media was going to write.

In fact, not only is he, the boss, in a complicated mood, some keen investors in the audience recognized Li Ruide, who also came to the Xiangjiang Roadshow, and said something similar—"This bank roadshow actually invites people who sell clothes to come and see it." ?Hahaha."

After a while, another friend who called to invite me from yesterday to this morning checked in and entered the venue.

"Mr. Li, Mr. Fang, I am Sun Xiqiang, Vice Chairman of Haier Holdings."

Sun Xiqiang of Haier Holdings shook hands with President Li and President Fang.

Fang Zhuo also led the vice chairman of Haier Holdings to his seat. Haier's relationship was a little more familiar, including the side-by-side cooperation during the "TV Eight Heroes" and the cooperation with e-buy's e-commerce channel.

Seeing another mainlander coming, Yao Fei, the investment manager of Huilian Capital, laughed jokingly with the friend next to him: "Just now there is one who sells clothes, and another one who sells TV refrigerators, will they come back to sell sofas later?" Right? Interesting, today is really interesting."

Soon, another guest made her guess come to nothing.

It's not selling sofas, it's selling cars.

A Geely vice president who flew in temporarily from Yangcheng had a face-to-face meeting with President Fang, and was ushered into a seat.

Before Yao Fei could comment, Penguin from IT and executives from Luoxin from Pharmaceutical came together.

She watched the two people take their seats and said, "Fang Zhuo invited this, right? The Internet always sells his face, who is that next to him? He is also a senior executive of Penguin?"

The friend sitting on the right replied: "That's Liu Baoqi, the founder of Luoxin Pharmaceuticals. It's a company in Lu Province in the Mainland. If I remember correctly, it went public here in December last year."

Yao Fei nodded, with a smile on her face: "A pharmaceutical company."

However, as the time approached three o'clock in the afternoon, more and more senior executives from Hong Kong-listed companies from the mainland were arriving, which made Yao Fei and investors who were in a similar mood to watch the excitement a little bit impatient.

One that sells clothes is fine, and one that sells TVs is fine, but more and more highly recognizable executives from mainland companies are arranged to be seated one by one by Fang Zhuo, as if...as if an invisible force made them sit The entire conference hall became solemn.

Penguin Holdings was listed in Hong Kong in June 2004.

Li Ning Group, listed in Hong Kong in June 2004.

ZTE was listed in Hong Kong in December 2004.

Geely Group was listed in Hong Kong in May 2005.

Bank of Communications was listed in Hong Kong in June 2005.

China Shenhua was listed in Hong Kong in June 2005.

One family, two families, three or four families, five families, six families, seven or eight families.

Nine, ten, and eleven families can be seen flying into Hong Kong.

As Fang Zhuo shook hands, exchanged greetings, and invited people to sit more and more frequently, the weird, frivolous, and lively atmosphere in the conference hall had long since disappeared, and investors like Yao Fei also unknowingly became serious. .

Yes, these companies are very labelled. They all come to Xiangjiang to go public from the mainland. Among them, there are clothes, shoes, cars, energy, and communication solutions...

Some seem ordinary, some seem to have a strong background, some have struggled for two years before being successfully listed, and some are listed in the Mainland A-shares first and then Hong Kong H-shares.

It is appropriate to say that it is uneven, but if it is uneven, when the conference hall gradually fills up, everyone has witnessed the rise of a kind of inland economic power, and no one can ignore this power.

Such a way of presenting it with real corporate executives is particularly vivid and shocking.

President Li had a bright smile on his face for a long time, and when the official start was about to start, he couldn't help but said to Mr. Fang: "Mr. Fang, the momentum is too big, too big. Didn't you say just a few friends? This is too exciting to move the crowd." gone."

Fang Zhuo nodded: "Yeah, I'm just a few friends, the others are I called and said, our bank is going to be listed, do you want to play with face? Then it's like this now, it's not my face, it's the Bank of China It’s because Xingchang Li has a big face.”

President Li knew that this was not the case, but he still couldn't help but laugh.

"Today's situation, leader, I will mention it temporarily when you give a speech." Fang Zhuo reminded, "Banks are closely related to economic development, and are also consistent with the development trend of enterprises. This kind of interaction between take-off and business is the same for all mainland companies and Heung Kong companies here, so don’t just focus on mainland companies.”

President Li nodded solemnly. He also felt a kind of vigorous force, and even his mood gradually became agitated.

Fang Zhuo was still very calm, and continued: "I checked the figures of the Hong Kong stock market last year. Last year in 2005, a total of 37 mainland companies listed in Hong Kong, accounting for 55% of the total number of new listings in Hong Kong. The 10 companies in China are all from the mainland.”

"As of last year, there were a total of 335 mainland companies listed in Hong Kong, accounting for 30% of the Hong Kong stock market."

"The total market value of Hong Kong stocks was 8.26 trillion last year, and the total market value of mainland companies was close to 3.2 trillion, accounting for nearly 40%."

“This is as much a stock market phenomenon as it is an economic phenomenon.”

Listening to the numbers one after another spit out by Mr. Fang, President Li said in a bit of a hurry: "Wait, wait, I will write it down. There is also this sentence, stock market phenomenon, economic phenomenon."

Fang Zhuo focused and repeated the figures again, which is more convincing when combined with the companies on site.

"The brains of young people are really good." Li Xingchang sighed and asked, "Mr. Fang, what else is there to say? You teach me again."

Fang Zhuo was not humble at this time, and earnestly taught: "President Li, if you don't treat the people below as human beings, you won't be nervous."

President Li finally sorted out the manuscript and nodded deeply.

At three o'clock in the afternoon, the road show officially started.

The members of the Bank of China team were introduced one by one, and Fang Zhuo was sitting next to President Li. He was introduced this time as a director of the Bank of China.

After the introduction of the members, President Li picked up the microphone and delivered a speech.

When people are on the stage, they can see everything off the stage.

President Li was very satisfied to see that everyone was serious, which was completely different from the scene when he came in the afternoon.

The manuscript of the speech has long been familiar by heart, and now the opening is eloquent and eloquent, but occasionally I lower my head and turn the page to glance at it, and I am basically in a state of being out of the manuscript.

President Li was still a little nervous at the beginning, but he got better after he stopped treating the people below him as human beings.

When he mentioned the temporarily added data, he noticed that the expressions of the audience, especially the Hong Kong investors, became a little complicated.

“This is as much a stock market phenomenon as it is an economic phenomenon.”

"I believe that the Hong Kong stock market, which set a record last year, will grow even more amazingly. I also believe that the listing of Bank of Communications and China Construction Bank, the current Bank of China, and ICBC, Agricultural Bank of China and other banks in the future will be a win-win situation."

"Thank you everyone, I hope you will support me a lot."

After the president's speech, the audience applauded enthusiastically.

The reporter's camera recorded the scene.

President Li was very satisfied with the applause at the scene.

Just as he put down the microphone, he suddenly saw someone among the investors raising his hand.

It stands to reason that it has not yet reached the stage of questioning and exchange, but considering that the procedure is not so rigid, President Li still signaled Xiangjiang's investors to ask questions.

"Excuse me, President Li, your bank has changed its partner three times. What is the reason for this?"

Questions are not friendly.

But President Li has long had psychological expectations. This is not his own fault. It is a problem with Temasek, a problem with Royal Bank of Scotland, and a problem with Merrill Lynch.

He explained the situation eloquently, with reasons and evidence, and the questioner nodded in conviction.

However, after opening such a question, other people raised their hands.

President Li looked at the enthusiastic guests and said with a smile: "It seems that our communication session will move forward."

Questions are answered.

However, the initial questions were limited to the Bank of China's shareholding reform and business development. Later, the questions gradually spread, and the topic of questioning basically did not talk about the bank but the economy.

President Li vaguely felt that the subordinates did not regard himself as a human being, so he tried to answer the question calmly.

However, different people are good at different situations. He is good at turning the tide, but he is a little worse at responding to the situation. Moreover, some questions are not suitable for him to answer.

As President Li paused and his thinking time became longer, he did not intend to stop asking questions.

"I heard that some economists in the Mainland believe that the GDP of cities like Shencheng, Yangcheng, and Pengcheng is expected to surpass Xiangjiang in the future. What do you think? How do you think the value of Xiangjiang is reflected? Do you think Xiangjiang is facing the threat of industrial hollowing?"

Yao Fei, an investment manager at Huilian Capital, asked a broader question.

President Li pondered how to answer better.

Fang Zhuo, who was sitting next to him, noticed that the leader's forehead was already sweating. He hesitated for two seconds, pressed the microphone, coughed, and took the initiative to ask the question: "This is another good question, but you keep asking good questions. Question, I heard that President Li's voice is going to be hoarse."

President Li breathed a sigh of relief, one question after another made his nerves tense.

He quickly took a sip of tea, and motioned for the others to wait and advance.

"The value of Xiangjiang." Fang Zhuo pondered, and wanted to answer this question first.

After pondering for more than ten seconds, he didn't speak, and stretched out his hand to draw a triangle in the air.

President Li was taken aback, not knowing what kind of mystery Fang was always up to.

He glanced down, and found that although most of the people in the audience were as dazed as he was, there were some people smiling knowingly.

what is this?
After Fang Zhuo finished drawing the triangle, he waited for a while, drew the same triangle again, and then clicked on the top corner.

President Li noticed that there seemed to be more people smiling in the audience.

This time, the person who understood spontaneously explained to the bewildered person next to him: "It's the Mundell triangle."

Many people present are investment experts, and they suddenly realized when they heard this.

Fang Zhuo said with a smile at this time: "This is very important. This is a very core value of Xiangjiang. The free flow of capital is also the foundation of Xiangjiang's current prosperity."

Mundell's triangle theory, simply put, can only choose two of monetary policy independence, free capital flow and exchange rate stability.

This is a theory put forward by the economist Mundell who is known as the father of the euro and perfected by other economists in recent years in conjunction with the financial crisis.

Following Mr. Fang's words and his pause, the scene burst into applause.

President Li next to him applauded. Although he is in this position, he doesn't pay much attention to emerging theories. Mr. Fang didn't teach himself this just now...

Fang Zhuo waited until the applause stopped before continuing to speak: "Well, I know this applause is not for me, but for Mundell, and for Krugman."

There was laughter at the scene, and the applause just now was somewhat unexpected because he said this theory. After all, the American economist Paul Krugman only drew a triangle in 99 to show the "Mundai theory". The inner principle of the Seoul triangle".

(End of this chapter)