Hong Kong Island Old Events

"Brother Xian, the members have been here for a long time." Zheng Yutong raised his eyes and said after almost eating. He Dingxian still took his time, simmering the hot pot and stuffing the meat into his mouth: "Tell them to arrive at six o'clock. If they arrive early, sit down."

"Even if the sky falls, you have to wait for me to finish eating first."

He Shanheng, Huo Guantai and others believed this deeply.

He Dingxian ate for a while, until it was five minutes to six o'clock, he put down his chopsticks, stood up and walked to the steps of the central hall. Directors He Shanheng and Zheng Yu also stood up and stood behind him, looking at the one hundred members of the chamber of commerce sitting below.

"Last night, foreign banks created a run and targeted Chinese banks."

"Mingde Bank went bankrupt, and seven banks including Wing Tai, Sheng Long, and Fengyu were trampled!"

He Dingxian, wearing a suit and tie, with his hair slicked back, stood on the field and shouted loudly: "I want to trample our Chinese capital to death!"

"This time, Chinese capital blindly chased the real estate market, and the financial industry ignored risks and gave foreign banks an opportunity, resulting in the current situation. I am not blaming you anymore, but everyone here is responsible for ignoring the responsibility for financial security!"

He pointed down the stage.

Not only were the more than 100 banking industry bosses present here shocked, but the seven directors standing behind were also awe-inspiring.

But He Dingxian did not come here to scold people. He looked around the crowd and said with a change of tone: "But I will take care of my people. When I took the lead in establishing the Guangdong Provincial United Chamber of Commerce, I hoped that my compatriots in various cities in Guangdong Province would stand on the same side. Together."

"Clenched into a fist!"

"Whoever comes to attack us, we must not only be able to defend, but also be able to fight back!" He clenched his five fingers on his right arm, punched out, and said loudly: "The ghost wants to beat my brother, I don't agree!"

"The directors of the Chamber of Commerce are also different!"

"Today, on behalf of the Chamber of Commerce, I formally inform you that the three major banks of the Chamber of Commerce have opened treasury to rescue the market. I believe you all know the specific plan. Because, in just one afternoon, Oriental Bank released more than 50 million Hong Kong dollars!"

"But I ask for one thing!"

Boss Xu of Yongtai Bank stood up, clasped his fists and said, "The Chamber of Commerce saved our lives. There are many things we should do without any hesitation."

"right!"

"Director He, please speak."

The crowd below was enthusiastic.

The big boss comes out to rescue the market with money, but what does it matter if he makes a few demands? What's more, the big boss didn't require equity mortgage in the loan terms, so it was impossible to impose any excessive conditions. Members present felt at ease.

"Remember this lesson!"

He Dingxian said: "There will not be only one run. Since we are engaged in Chinese-funded finance, the first bottom line is to maintain the safety of Chinese-funded finance. Money can be earned slowly. If you buy one less building or eat one less seafood, you will not die. !”

"If the line of financial security is broken, it doesn't matter if you jump into the sea. Don't force people to hang up at the door of your bank account to collect debts."

"I'm on duty and I can't bear to see this kind of scene."

The members were silent for a while, feeling a little guilty.

In fact, if the owner of a bank was a bank teller 20 or 30 years ago and has no working experience in Shanghai, he really has no idea what the financial war is about. This is also the first time that the four major foreign banks have taken action on Hong Kong Island.

Because the previous Chinese capital was not worthy at all.

"In the future, if something like this happens, I will still save you, but I will wait until you are dead! Finally, remember the kindness of the Chamber of Commerce! In the future, there will be many difficulties for Chinese capital to overcome. If you need your efforts, remember to listen to the Chamber of Commerce. Order!"

"I'm helping you, and I hope you can keep your family business and continue to help others in the future!"

The expressions of the members were greatly touched. Ordinary words that would normally fall on deaf ears were deeply moved by this situation. Several elderly members had already shed tears. Wipe quietly with the cuffs of your gown.

Xu Mingye took a deep breath, bowed his hands, and said, "Thank you He Sheng, the Chamber of Commerce, and all the directors."

"Xu Mingye will never forget this feeling of being in the same boat and sharing weal and woe. The Chamber of Commerce's admonishment will be kept in mind!"

More than a hundred members stood up one after another, bowed and shouted: "Thank you He Sheng, thank you to the Chamber of Commerce!"

“The feeling of being in the same boat is unforgettable!”

The shouts echoed in the hall.

He Dingxian stopped talking nonsense and said with a chuckle: "Does your butt hurt from sitting and you can't wait any longer? Haha, line up and come up to exchange money. The shopkeepers of the three major banks are all sitting in the clubhouse. I guarantee that no one will drown!"

He Dingxian touched his watch, then turned around and took Zheng Yutong, Huo Guantai, Xu Shifen and others to the second floor to drink tea. Qiu Degeng, Li Guanchun and Feng Jingxi sat at the desk and led the clerks to lend money to members one by one.

This can be regarded as a special loan to rescue the market!

In areas where there is no Chinese government or lack of government governance, local chambers of commerce, associations and other township associations must assume certain government functions. Otherwise, how can the Chinese develop? If there are not many Chinese people in the local area, or there is a lack of community foundation.

The Chinese will adapt to local conditions and choose to adopt the system of the gentry family to safeguard the interests of the Chinese and continue the family inheritance. The higher the level of this three-level system, the higher the conditions required and the more benefits it will naturally bring.

Many people always say that the family system is dark, the chamber of commerce system is despicable, and SHZY is number one!

nonsense.

This is inevitable because it has superiority and can become bigger, but what about places outside the government’s influence? The Chinese also want to survive and develop, so chambers of commerce, associations, and families have become the best choices.

It's better than being swallowed whole.

This is why Guangdong, Hakka, and Fujian have endless family temples and incense, and why a chamber of commerce on Hong Kong Island can affect the livelihoods of tens or hundreds of thousands of people.

Unite to protect ourselves.

Mutual assistance and cooperation.

Many times there is no choice.

That night, the Chamber of Commerce invested more than 130 million.

Wheelock.

In the president's office, Madden held a cigar in his mouth, crossed his legs, leaned against the sofa, flipped through a document, and said with a joyful expression: "In less than forty-eight hours, Defeng Bank had an additional deposit of 180,000 yuan, more than 300 yuan. Inter-corporate customers.”

"The results of the financial war are huge. Harvesting Chinese people in one wave is comparable to ten years of operation."

Qi Yaolin, the president of HSBC, is sitting opposite, full of confidence: "HSBC also has 25 million more deposits. It is expected that in the next 24 hours, at least 100 million funds will be transferred from Chinese banks to foreign banks."

"We won the first battle and the results are gratifying."

Standard Chartered's chief executive, Richard, sounded excited: "Absorbing depositors' funds is only the first step. It will cause a chain of Chinese banks to collapse. Only by buying Chinese factories at the bottom can they make big profits."

Among the accounts of the four major foreign banks, Wheelock has contributed the least and can only take a sip of soup in the financial industry. Standard Chartered's interests are to eat Chinese-owned factories, HSBC's interests are to merge Chinese-owned banks, and Swire's interests are to acquire and mortgage them. Cheap real estate.

Among them, HSBC has the biggest cake and Wheelock has the smallest, but each has its own independent direction and works towards the same goal without stumbling upon each other.

If someone is capable and can steal a bite from someone else's territory, everyone will maintain a default attitude.

Madden frowned when he heard this: "Originally, Yongtai and Fengyu banks were supposed to stop cashing at night, which further amplified the run, but now they can still pay smoothly. According to industry news, major Chinese chambers of commerce have begun to spend money to rescue the market. "

"The response was quick."

Qi Yaolin smiled deeply: "I would be surprised if He Dingxian didn't get his hands in the banking industry, but I wouldn't be surprised at all if He Dingxian stepped forward to organize a financial protest and asked the Chinese Chamber of Commerce to pay for it for a while."

"However, we have a plan to deal with Oriental Bank. Although Oriental Bank has a lot of money, it is not enough to support the entire banking industry. What's more, won't there be a payment crisis in Oriental Bank?"

"At that time, no matter how large the capital pool of Oriental Bank is, it will bottom out and it will not be able to protect itself. How can we save others?"

Madden looked thoughtful, and the more he thought about it, the more horrified he felt.

If you want to use Oriental Bank’s money, you have to dig into Oriental Bank’s roots.

Where are the roots of Oriental Bank?

Charlie smiled meaningfully and looked at Madden, his expression unconsciously arrogant.

"And now that the turmoil has arisen, it will not be easy to calm down. Can Wing Tai and Feng Yu escape, but can every other Chinese bank escape? Standard Chartered is ready to eat meat. I wonder if Wheelock has any."

As the four major foreign banks said, once the bank run crisis starts, it cannot subside in a short time. Because news fermentation itself is a process, and information dissemination also takes time. Many citizens have just received the news, so how can they trust it again?

Even if most people know that the bank account is still intact, out of a rush mentality, they will cash in the cash first, and then think about which bank to deposit it to next. That night, banks of all sizes on Hong Kong Island stayed up until nine o'clock to close their doors.

The next day, morning.

Hong Kong Commercial Daily, South China Morning Post, and many newspapers published the news that "Mingde Bank filed for bankruptcy", was "insolvent", and "depositors worth more than 10 million Hong Kong dollars disappeared". Subsequently, experts on the business channels of many radio stations came out to analyze the investment policies of Chinese-owned banks blindly chasing the real estate market. For a time, public opinion that all Chinese-owned banks would go bankrupt in a chain was rampant. Real estate market expectations were once again frustrated, and real estate prices entered a rapid decline channel. .

Just because the bosses of Chinese-owned banks had a good night's sleep, it doesn't mean the world is at peace. As soon as they opened in the morning, all banks were blocked. Many people in the market don't even go to work and come to the bank to grab cash. The banking industry is having another tough day.

In the afternoon of that day, two banks, Feng Yu and Sheng Leong, were unable to support themselves and applied for bankruptcy. This is no longer a question of whether the chamber of commerce can help or whether there is money, but that the shareholders of the two banks are insolvent, lack confidence in the industry, and dare not borrow any more money.

Because the rapid decline in property prices has indeed caused the confidence of Chinese banks to be frustrated again, and some bosses have had to adjust their expectations in order to survive. However, within 72 hours, only three banks went bankrupt and no large-scale landslides occurred.

The situation is undoubtedly much better than in history. The three major Chinese banks can easily take over the mess left by the three banks.

Eighty-sixth hour.

Hong Kong Island's first trust bank, Guangdong Trust, broke the news that its boss ran away overnight, and the bank run expanded again, involving the top wealthy families in Hong Kong Island.

In this financial war, the most critical moment for Chinese capital has arrived!