The Wealth Empire Crossing the Hong Kong

Chapter 204 The Government Intervenes
This round of turmoil had a huge impact. On Monday morning, as soon as the major exchanges in Hong Kong opened, the screens were all red. The stock prices of major listed companies all plunged, and the sell orders were very large, but there were quite few buyers.

Li Fuzhao, chairman of the Far East Exchange, personally called Li Jianhui, hoping that Xinjian could repurchase its shares listed on the Far East Exchange, maintain the stability of the stock prices of several major groups, and boost investors' confidence in the stock market.

Inside the Governor's Mansion, Brian, Xoss, Weems, and Hughes all frowned.

Brian asked aloud: "What do you think about the current situation, and how can Hong Kong's financial stability be restored as soon as possible?"

Financial Secretary Wilms responded: "To calm down the situation, we first need to start from the source. The large-scale run this time was mainly caused by certain interest groups deliberately spreading rumors in order to attack competitors, causing panic in the hearts of the citizens. , and this incident occurred.

I think it is necessary to draw a red line for these forces, otherwise such things will happen again in the future.

We do not prevent them from competing, but we absolutely cannot let them compete without a bottom line.

I suggest that the forces that caused this incident be severely punished, cancel their financial licenses, and prohibit them from entering the Hong Kong financial industry. "

It's a pity that neither Brian nor Xoss agreed to this proposal. They are too clear about this situation, and the main reason is the struggle between the Xinjian Consortium and the United Consortium.

If according to Wilms' proposal, Standard Chartered, HSBC, Hang Lung, Hang Seng, Xinjian, Dao Heng, and several major banks in East Asia would all be shut down, which would directly paralyze Xiangjiang Financial.

At present, it is useless to pursue the source, and if it is really pursued, these forces can push it clean, and there is no evidence of their manipulation at all.

Now the main thing is to think about how to calm the current turmoil. If this continues, I'm afraid there will be more serious consequences.

Hughes said: "I suggest contacting HSBC, Standard Chartered, Xinjian, East Asia, Daoheng, Sun Hung Kai, Hang Lung and other powerful banks to jointly stabilize the financial order of Xiangjiang. For those banks in crisis, several major banks can Banks take over, as for capital injection or acquisition, it is up to these banks to decide."

Brian didn't express his opinion, but looked at Chief Executive Xosos, and asked Xosos his opinion on this.

The banking and stock market issues this time are mainly the responsibility of the Financial Secretary, and have little to do with the Administrative Department.

It's just that if this aspect cannot be calmed down for a long time, it will also cause a chain reaction, which will affect the development of other industries in Xiangjiang.

Therefore, Xoss still hopes that the financial stability can be restored as soon as possible. As for Wilms’ proposal, let it go. We can’t add fuel to the fire at this time. appearing again.

"I agree with Hughes' opinion. At this time, our government should take a strong move and join hands with Hong Kong's large banks to take over those banks that have no liquidity, so as to stabilize the sentiment of Hong Kong citizens.

In addition, contact the shareholders of Hong Kong's major listed companies and ask them to repurchase their company's shares in the stock market as much as possible to stabilize the stability of Hong Kong's stock market. "

As a soldier, and later worked in the foreign service, Brian is not very proficient in finance.

Facing the situation in front of him, he still relies more on the opinions of Wilms, Hughes, Xoss and others.

He also understands that according to the opinions of Hughes and Xoss, in addition to the branches established by other regional banks in Xiangjiang, Xiangjiang will only have a few big banks such as HSBC, Standard Chartered, and Xinjian, and monopoly financial groups will will form.

But he still agreed with this opinion. Since these consortiums want to monopolize this aspect, he will give them a chance.

He wants to see where these big consortia will stand after they monopolize various industries. These monopoly groups are naturally enemies of the red. He doesn't believe that these people are not worried about being suppressed or even dismembered in the future.

Brian said: "Just follow Xoss's proposal. Hughes will be in charge of the bank. We will reach a consensus with several major banks as soon as possible. For those banks that are no longer able to maintain normal operation, the government will take over directly. Negotiate with several major banks.

For the shareholders of listed companies, Kesos is in charge, trying to persuade these shareholders to buy back to ensure the stability of the Hong Kong stock market. "

……

At Wheelock Building, Li Jianhui received invitations from Hughes and Xoss one after another, inviting him to attend the Xiangjiang Financial Summit and the Xiangjiang Enterprise Summit in the afternoon.

The time was still three o'clock in the afternoon, and it was impossible for Li Jianhui to divide himself into two halves. In the end, he decided to let Li Zaiwei attend the financial summit, while he attended the corporate summit in Xoss.

Li Jianhui specifically told Li Zaiwei not to show off at the meeting, and Xin Jian would do what HSBC and Standard Chartered did.

Don't be in a hurry to win which banks, you can't eat hot tofu in a hurry, wait for a while, the price you pay for winning these banks will be lower.

While Li Jianhui was calculating, the bank shareholders who were in crisis received the invitation, as if they had found a life-saving straw, hoping that the government would provide them with help at the afternoon meeting.

It’s just that the greater the hope, the greater the disappointment. After the meeting started in the afternoon, Hughes said at the beginning: “Because there have been runs on many banks, it has had a great impact on Xiangjiang.

In order to maintain Hong Kong's financial stability, starting tomorrow, all banks that do not have sufficient funds to ensure normal operation will be taken over by the government. "

This is a blow to those bank shareholders who are in trouble. Once the bank is taken over by the Monetary Authority, the bank will no longer be owned by them, and the future sale price cannot be determined by them.

The brand value of the bank will be zero. With the evaluation method of the Monetary Authority, all kinds of bad debts and bad debts will be kicked out, and they may not get a penny.

Many controlling shareholders of small and medium-sized banks have spoken out, hoping that the time can be extended for a few days. Tomorrow morning is too urgent for them, and there is not enough time to seek financial support or find a buyer.

It's a pity that Hughes didn't give them time at all. At ten o'clock tomorrow morning, if there is a large-scale bank outlet with no funds for citizens to withdraw, the HKMA will take over forcefully to ensure the interests of the citizens of Xiangjiang.

At the meeting, Hughes said: "Our large banks must take on the responsibilities of large banks, and maintaining the financial stability of Hong Kong is also our common responsibility.

I hope that banks such as HSBC, Standard Chartered, Xin Jian, East Asia, Dao Heng, etc. can lend a helping hand to small and medium-sized banks in trouble, and contribute to the financial stability of Hong Kong.

Only when Xiangjiang’s financial stability develops, can you all develop better. "

Shen Bi, Wilt, Li Zaiwei, Li Guobao, Feng Jingyao, Feng Jingxi and others spoke one after another, expressing their willingness to contribute to financial stability.

It's just that each one of them is vague in terms of specifics, and there is no specific action plan.

(End of this chapter)