The Wealth Empire Crossing the Hong Kong

Chapter 334
Although the first cooperation forum is over, its impact has just begun. All parties are evaluating the large-scale entry of Heung Kong Capital into the ASEAN market.

In particular, the Japanese consortium, which regards the Southeast Asian market as its own backyard, sees Xiangjiang Capital making troubles and competing with them in multiple industries, which makes them unable to sit still when they are determined to attack the North American market.

In order to stabilize its own market, the Japanese government and Japanese companies have made frequent moves, and a large-scale visit to ASEAN by the Japanese political and business circles is brewing.

The U.S. consortium did not remain silent either. On the third day after the meeting, the news that the U.S. political and business circles were about to visit South Korea spread all over the world.

And more content has been spread, including cooperation in electronic semiconductors, automobiles, shipbuilding, chemical engineering and other projects. The purpose is obviously to use South Korea to suppress Japan and the Xiangjiang consortium.

Western European capital is also unwilling to be lonely. The industries under the Rose Consortium, the Juncker Consortium, and the BNP Paribas Consortium have also entered ASEAN on a large scale, especially the retail, automobile, oil, and financial industries.

The butterfly effect is very scary, and Li Jianhui doesn't know how much it will affect the north. For the benefit of the Xinjian Department, he has to do it.

After the forum, he, Su Jiangting and several high-level executives from the Xinjian Department visited Wheelock Square in Kuala Lumpur and the construction of Tanjung Pelepas Port.

As for the development of Nanlong Holdings and Success Group, Li Jianhui only listened to Li Zaiwei's report and had no plans to meet with the top management of the two major groups.

Compared with the high profile in Malay, Li Jianhui who returned to Xiangjiang is undoubtedly much lower profile. He just went to and from get off work on time throughout May and did not make any big moves.

The Pope's assassination and the Bangladeshi president's assassination, which attracted worldwide attention this month, made Li Jianhui take stricter measures to protect his family's safety.

On the first day of June, due to the sluggish stock market in Xiangjiang and upstairs, Donghuahui held a joint meeting of its real estate and banking company executives in meeting room 204 of Xinhui Hotel to discuss the development in the next few years.

In the past, the members of the East China Association basically discussed and decided with each other. This is the first time that the East China Association has held such a meeting where senior executives from various companies sit together to discuss, and it also marks a further step in the relationship between the East China Association companies.

This is the first meeting today, but definitely not the last. There will be more joint meetings like this in the future, such as film and television media, electronic semiconductors, and the Internet.

There are many high-level executives from the Xinjian Department, including Wheelock Land, Hutchison Land, Xinjian Real Estate, the president, executive vice president, and general manager of the Administration Department of Xinjian Bank. The general manager of Xinjian Investment was also present. .

Senior executives from Chinese Land, Guanghua Development, Kowloon Construction, Shineway Holdings, Guanghua Holdings, Bank of East Asia, Dao Heng Bank, Wing On Bank, Hao Kong Holdings, etc. have already been here.

With the arrival of Li Jianhui, Li Guobao, Lei Juekun and others, the meeting related to the development of Tung Wah Club in Hong Kong real estate and finance in the next few years officially kicked off.

As the helm of the Tung Wah Club, Li Jianhui was the first to speak out: "Since the British Ministry of Defense spoke out during the Spring Festival, Heung Kong Properties and the stock market have been in decline.

Although we once rescued the market for Hong Kong's economy and the stability of the Hong Kong dollar exchange rate, we still cannot change the downward trend of the property market and stock market.

In the past May, many developers in the market have already been unable to bear it. Whether it is Kowloon or the New Territories, house prices have dropped sharply, and some places have even cut their prices in half.

The stock market is not much better, because the chain reaction of the property market has directly affected the banks, and the two pillars of our stock market are real estate and finance.

As a result, the Hang Seng Index fell below [-] points, the East Asia Index also fell below [-] points, and the Kowloon Index fell below [-] points.

We can do nothing about the overall situation, it is a game between big countries, but in terms of our own business development, we need to make some adjustments to avoid too much loss.

I invite everyone to sit together today, and I hope to brainstorm and formulate a feasible plan for the development in the next few years. "

The presence of those present means that the executives of Defeng Land are relatively calm, and the property market has plummeted, causing the stock prices of these real estate companies to also plummet.

As of the end of last month, HSBC's market value plummeted by nearly [-] billion Hong Kong dollars, and it is currently only hovering around [-] billion. Standard Chartered is not much better, with a market value of less than [-] billion Hong Kong dollars.

On the contrary, Huihong Group, because it is not a real estate and financial company, and its main market is not in Hong Kong, and the new game released in May is very popular, its market value has broken through [-] billion Hong Kong dollars, and it has completely secured the No. [-] in Hong Kong. The throne of listed companies.

Seeing everyone's expressions, Li Guobao, who is the second person in Xiangjiang, said with a smile: "Although everyone was caught off guard by the black swan flying at the beginning of the year, we don't have to be too depressed.

Because of some reminders from Jianhui last year, our current real estate development projects have basically been sold out, and the funds have been withdrawn. The halving of the property market will not have much impact on us.

As for the bank, I remember that since last year, Xinjian Bank has strictly restricted the inflow of funds into real estate. Although our Bank of East Asia’s restriction threshold is not as good as that of Xinjian Bank, the pressure of bad debts is not so great at present, and it will not affect the development of Bank of East Asia.

We are sitting here together today, one is to understand the current specific situation of each company, especially the bad debt situation of our banks.

The second is the development of real estate and banks in the next few years. The current situation forces us to go out. "

After Li Guobao's voice fell, the major banks reported on their current situation one after another.

Although Xinjian Bank had the Tseung Kwan O incident, its bad debts are currently the least among the four major banks, and the amount of bad debts in Xiangjiang Branch is less than [-] million.

The second is the Bank of East Asia. Although it is a little more than Xinjian Bank, it is less than [-] million.

On the contrary, Dao Heng and Wing On, the two major banks, did not raise the threshold much last year, whether it is loans to real estate companies or loans to real estate speculators, there are quite a lot.

As housing prices in many areas have been cut in half, many real estate speculators simply cannot pay the interest, and a large number of bad debts have emerged.

Even several clients of these two banks who are engaged in real estate development have fled Xiangjiang last month, and their loans have completely become dead debts, and the two banks have suffered a lot of losses.

At present, Dao Heng Bank's Hong Kong Branch has as high as 1.6 million Hong Kong dollars in bad debts, and Wing On Bank is far less powerful than the three major banks, and its bad debts are also as high as 1.2 million Hong Kong dollars.

Fortunately, the news has not been spread yet, and whether it is Guan Heng or Yongan, Donghua will have the bottom line behind it, otherwise the stock prices of the two banks will plummet again.

If it's just this, it won't cause all parties to worry. The key is that the current property market crash has just begun, and bad debts may continue to rise in the future.

(End of this chapter)