Rebirth of England.

Chapter 870 Global Release
In fact, before the Federal Reserve launched the third round of quantitative easing, many countries had already started to cut interest rates. Last year, seeing the hope of economic recovery, many countries began to raise interest rates, but the next round of economic depression forced them to choose to cut interest rates.

For example, earlier, in early June this year, the People's Bank of China announced a 6 basis point cut in the benchmark interest rates for financial institutions' Chinese currency deposits and loans.

This is the first rate cut by the central bank since December 2008.

Then on July 7, less than a month later, the central bank announced another interest rate cut of 6 basis points.

Earlier, in February and May, the central bank lowered the reserve requirement ratio twice by 2 percentage points each time.

Coincidentally, the South Korean central bank announced an interest rate cut after three and a half years, which also surprised the market.

7月12日，南朝鲜央行宣布将基准利率下调25个基点至3.0%，这是南朝鲜自2009年2月以来首次下调基准利率。

This is just the beginning. It is very likely that the South Korean Central Bank will announce another interest rate cut next month.

In Europe, the European debt crisis has yet to be effectively resolved. In order to prevent further recession of the European economy, the European Central Bank has also tried its best.

他们在7月5日宣布，将再融资利率下调25个基点至历史最低点0.75%，这是欧洲央行行长德拉吉去年11月走马上任后第三次降息。

Since then, the ECB has maintained the ultra-low interest rate unchanged, and announced in September the launch of a new bond-buying program - Outright Monetary Transactions (OMT), or an unlimited offset bond-buying program, but with strict bond-buying conditions attached. It will consider whether to buy bonds based on factors such as interest, spreads, liquidity, volatility, and will announce the details of the bond purchases every month.

At the same time, the OMT plan will be implemented in cooperation with the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM), and the purchase targets will mainly be eurozone government bonds with a term of less than three years.

The European Central Bank is so relaxed, and other European countries are following suit.

丹麦央行7月5日当天便跟随欧洲央行的降息措施，将其贷款基准利率下调25个基点至0.2%，更首次将存款证利率由0.05%降至-0.2%，惊现史上首次存款负利率。

They said the move was to ensure the Danish krone remained stable against the euro.

Although the wealthy Federal Reserve and the European Central Bank have both implemented unlimited bond-buying programs, they are advancing month by month on a step-by-month basis. The Bank of Japan and the Bank of England, on the other hand, have been taking drastic measures on the economy, with one round of quantitative easing after another.

The initiator of QE, the Bank of Japan, has also fully demonstrated its expertise this year.

2012年，倭国央行将会五次放宽货币政策，将其资产购买规模从2月份的55万亿日元扩容至12月份的101万亿日元（约合1.2万亿美元）。

So far, the Bank of Japan has implemented QE 11 times.

Not only that, as Japan's economy continues to decline, the pressure on the Bank of Japan to cut interest rates has further increased after the new Prime Minister Abe took office.

Abe expressed the hope that the Bank of Japan would continue to lower interest rates or even reach negative interest rates to stimulate Japan's economic development.

The market expects that the Bank of Japan is very likely to raise its inflation target to 2% and may cut interest rates as early as January next year.

The Bank of England's QE is also reckless. In order to stimulate economic growth, the Bank of England has expanded its QE scale (mainly purchasing government bonds) twice this year, adding 500 billion pounds each time. The current total amount is 3750 billion pounds (about 6000 billion US dollars).

In addition, the Bank of England has maintained its ultra-low interest rate at 2009% since 0.5.

It has to be said that with the implementation of the third round of quantitative easing policy in the United States, the impact of the increasing dollar and the still grim global economic situation, most countries in the world have to choose to enter the interest rate cut channel together.

By the end of 2012, more than 22 central banks in major countries around the world had adopted direct monetary easing policies such as bond purchases or interest rate cuts to stimulate economic growth, while some countries had adopted measures such as reserve requirement ratio cuts. Therefore, from this time on, the era of global money printing has begun...

……

"Mr. Ma, we are willing to financially support Alibaba's repurchase of Yahoo!. As you know, His Royal Highness the Duke has always believed that Alibaba will have an exciting development prospect under your leadership, so we will spare no effort to support you."

"Thank you, Ms. Wang. I also spoke to His Royal Highness the Duke yesterday. We will come up with a feasible plan next."

Boss Ma met this extremely elegant Chinese beauty at the headquarters of Alibaba.

Facing her, Boss Ma still maintained a positive attitude. After all, this Ms. Wang Wanting was not only in charge of the affairs of the Cavendish Trust Fund, but also had served as the personal assistant of the Duke of England for many years before that. From these, it could be seen that she was definitely one of the other party's most trusted people.

In fact, Boss Ma had met Wang Wanting nearly ten years ago. When Barron first came to China and met Boss Ma, Wang Wanting was by his side as his personal assistant.

However, over the years, the identities and status of Barron, Boss Ma, and Wang Wanting have changed dramatically compared to that time.

What Wang Wanting just mentioned in her conversation with Boss Ma was that Boss Ma was going to repurchase shares, thereby taking back the Alibaba shares held by Yahoo...

At this time, Alibaba has completed its delisting from the Hong Kong Stock Exchange.

In 2007, Alibaba's B2B business was listed on the Hong Kong Stock Exchange, raising US$15 billion. The issue price was HK$13.5 and the closing price on the first day was HK$39.5, an increase of 193%.

However, in the short five years that followed, Alibaba experienced a series of turmoil, including the financial crisis, shrinking B5B business, the divestiture of Alipay business, and falling out with investors including Yahoo. Its stock price even fell to HK$2 at its lowest.

Then on February 2 of this year, Alibaba made a privatization offer to repurchase the 21% stake in Alibaba's B13.5B business that it did not yet hold at a price of HK$2 per share.

As mentioned earlier, the issue price of Alibaba's IPO on the Hong Kong Stock Exchange and the price of this privatization repurchase were both HK$13.5 per share, which means that Alibaba did not have to pay any interest in the past five years and used the US$15 billion raised from its listing on the Hong Kong Stock Exchange.

It can be said that this operation deserves a 666 deduction...

On June 6 this year, Alibaba officially delisted from the Hong Kong Stock Exchange. The privatization of Alibaba cost nearly HK$20 billion and was completed using external financing and its own cash holdings.

In Baron's previous life, Alibaba's B2B company was privatized and delisted. The outside world generally believed that de-Yahooization was one of the reasons. At the same time, it was also one of Alibaba's measures to implement strategic transformation and upgrading, paving the way for its overall listing in the future.

At this time and space, the major shareholder of Alibaba has become the Barron family - he holds nearly 23% of Alibaba's shares through DS Holdings (Cavendish Trust Fund) and Rich40 Capital.

Yahoo's current stake in Alibaba is only 9.9%...

The key is that Baron has always been very supportive of Mr. Ma and has always given Mr. Ma the voting rights of his shares. Even when it comes to the spin-off of the Alipay business, the two parties, after friendly negotiations, agreed to compensate him with shares of the future payment business at an appropriate time.

This is very different from Yahoo's "tough" style in the past, which led to Mr. Ma having to go to great lengths to buy back its shares.

Therefore, when the relationship between Mr. Ma and Yahoo became increasingly tense, with the support of Baron, a major shareholder, Alibaba's repurchase of its shares did not need to make a big fuss like in the original time and space.

On the other hand, Yahoo is not so resistant to Alibaba's repurchase of its shares this time.

(End of this chapter)