Through the wealth life

Chapter 606 Xiangjiang Financial Conference
In the afternoon of the next day, Li Guangyu attended the meeting as a special guest of the Hong Kong Financial Conference at the invitation of the Hong Kong Financial Management Bureau.

Xiangjiang is currently in a critical moment. The stock market is plummeting, and the property market is about to collapse. However, most of the funds of the major banks in Xiangjiang are distributed in these two fields. One is not handled carefully, and Xiangjiang has developed rapidly in recent years. will stagnate, and may even regress.

The Xiangjiang government obviously does not want such a situation to arise. This time, the heads of major financial institutions in Xiangjiang were called to attend the meeting in the hope that everyone can maintain the financial stability of Xiangjiang.

At the same time, I hope that everyone can support Xiangjiang industry and commerce. Under the situation that real estate is under tremendous pressure, major financial institutions should reduce financing for the real estate industry and divert more funds to other industries and manufacturing industries.

The heads of the financial institutions stationed in Hong Kong were invited to attend the meeting, and the special guests included Henry Keswick, Lawrence Kadoorie, Wooden Szehuaia, Pao Yugang and Xu Shixun.

At the meeting, McBurney DeShawn, director of the Hong Kong Financial Management Authority, said: "Thank you very much for coming to this meeting. Hong Kong is currently facing severe challenges. Today's meeting aims to promote exchanges among you. And solicit everyone’s views and opinions on Xiangjiang’s financial circles, and contribute to the development and financial stability of Xiangjiang.”

Then McBurney Deshawn described the current situation Xiangjiang is facing, and at the same time put forward his views on the bank's excessive capital inflow into real estate.

All major banks are required to stick to their own funds and tilt towards the real estate industry at this time, and at the same time clean up the liabilities of the banks. The Financial Services Bureau will supervise all banks in the near future to prevent banks from becoming insolvent.

The heads of HSBC, Standard Chartered and Tianyu Financial Group, who are currently the three giants of Xiangjiang, made speeches one after another, focusing on the supervision of real estate groups that have already lent money, paying attention to market trends at any time, and preventing large amounts of bad debts from appearing.

These giants are not too worried. They have enough financial resources to deal with this crisis. Many small and medium financial institutions are under great pressure.

Because they want to compete with these big financial groups for business, they have relaxed their loan conditions a lot, and many of their loan targets are also small and medium-sized real estate companies. Facing the storm that is about to start, the first to sink will definitely be these Real estate agency.

Now the Monetary Authority has strengthened their supervision at the same time, which puts them under greater pressure. As long as companies and banks are in a storm, they will face the takeover of the Monetary Authority and liquidate them.

The heads of these small and medium-sized financial institutions are not stupid. They know very well that the current property market will not last, and it is not that they do not understand the vacancy rate of the Xiangjiang property market.

The main reason why housing prices have been able to maintain until now is that many people think that the myth of the rising property market will not be shattered, and they do not think that they will be the last one to take over.

However, a piece of news came out a few days ago, which instantly brought the property market into a cold winter. In the past few days, no matter whether it is Central or Kowloon, whether it is the urban area or the remote Tin Shui Wai area, houses and shops are constantly being put up. It is a pity that at present There are more and more people selling, but few buying.

Now these small and medium-sized financial institutions don't have any funds to support the development of Hong Kong's industry and commerce. They only hope to recover the funds released as soon as possible, so as to prevent banks and companies from not having enough cash flow from being run on by citizens.

After the speeches of the representatives of the heads of these financial institutions, Li Guangyu, as a special guest, also expressed some of his views.

Li Guangyu said: "The development of Hong Kong over the years has not come easily. It is precisely because so many financial institutions are stationed in Hong Kong that Hong Kong has become the third largest financial center in the world. We must have full confidence in the future of Hong Kong. We must I believe that the current difficulties are only temporary, and everyone’s development will only get better and better in the future.”

"The most important thing for the major financial institutions in Xiangjiang is to clean up their bad debts as soon as possible, especially for those large loans. They must be tracked and supervised to prevent them from becoming bad debts for banks and institutions. Financial institutions are very important to Xiangjiang. Only you Only when it is stable can all sectors of Hong Kong develop stably."

……

For some of Li Guangyu's views, everyone here has a selective agreement, especially the views on the real estate market. The Li consortium and its interest groups ran out as early as last year, and successfully avoided the collapse of the real estate market. Impact.

At the beginning of this year, the financial group to which the Li's consortium belongs and its allies have also strengthened the supervision of real estate loans and raised the threshold for loans, so that they have very little pressure in this regard.

As for McBurney DeShawn's proposal to support Xiangjiang industry and commerce, the proposal that the loan should be tilted as much as possible in this regard was not mentioned many times by these representatives at the meeting.

At present, each of the major families in Xiangjiang is either in the financial industry or the real estate industry. Even families and groups that focus on other industries also have real estate companies in their hands.

The huge profits of real estate have made the various families in Xiangjiang put more energy into the real estate industry. The profit from developing a real estate is equivalent to the profit of five to ten years in other industries. They are obviously more willing to invest in it.

Especially the upper class families in Xiangjiang, no one does not have a real estate company in their hands, even if the Huo family is restricted by the Xiangjiang government in this regard, they are also engaged in building materials for the real estate industry.

And these representatives are representatives of the largest financial institution in Xiangjiang, and their loans are mostly from these big families, so there is no way to talk about this aspect.

Currently, Hong Kong's low-end manufacturing industry is limited by labor costs. At present, many companies are relocating to the mainland and Taiwan, and there are not enough talents to support the mid-to-high-end manufacturing industry. Hong Kong currently only has Hong Kong University and Hong Kong Chinese University, which is not enough at all. To meet the needs of Hong Kong's high-tech development.

As a result, all major families have entered the real estate market, and the hollowing out of Xiangjiang industry has begun to appear slowly.

Not to mention anything else, the Li's Consortium has not recruited personnel in the Xiangjiang Industrial Park for two years. Here, Li Guangyu will gradually eliminate these low-end manufacturing industries and start to enter the mid-to-high end.

Li Guangyu is not so great that he needs to spend some extra cost to support the employees in the industrial park. Pengcheng is so close to Xiangjiang, but the labor cost is many times lower than Xiangjiang. He naturally prefers to produce in Pengcheng.

McBurney DeShawn is also aware of Xiangjiang's current situation, but Governor Youde expects financial institutions to tilt towards the manufacturing industry and promote these companies to upgrade their industries, so as to ensure the sustainable development of Xiangjiang.

During MacLehose’s administration, Hong Kong’s economy maintained a seven-year high-speed development after initial difficulties, making Hong Kong, South Korea, Taiwan and Singapore together known as the Four Asian Tigers.

At present, the other three regions are developing high-tech industries with semiconductors as the core. Youde also hopes that Xiangjiang can keep up with these regions, so that Xiangjiang's economy can diversify.

It's a pity that although Youde's current idea is good, I'm afraid he won't have such an idea in two years. Yinglun will only choose to leave a series of problems for the mainland, so he won't estimate the future development of Xiangjiang .

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(End of this chapter)