This stamp duty is derived from the British tax system. It refers to documents for the transfer of properties, stocks, securities, bills, building leases, or specific documents, contracts, and agreements signed by both parties in Hong Kong. In order to obtain criminal protection from the law, the Stamp Duty Office must be reported to the Stamp Tax Office when signing.

Pay stamp duty and affix the stamp at the same time.

All transaction documents without stamps have no legal effect.

Now the Hong Kong government has doubled the stock stamp duty, which has greatly increased the price that stock exchanges need to pay. This means that Jardine Matheson's acquisition of Wheelock also needs to pay a large amount of extra tax.

But after Lei Yunrong thought about it, he felt that something was not right. Even if HSBC could lobby the Hong Kong government to enact this measure, looking at Jardine Matheson's high-profile posture, Huide must have to pay an extra tax.

Feng took it.

In other words, HSBC did not expect that Jardine Matheson would be so determined this time.

After Lei Yunrong calmed down and thought about it, he felt that the Hong Kong government should have had this plan for a long time, and might have taken advantage of the dispute between Jardine Matheson and HSBC Group to promulgate the tax increase policy.

This time the Hong Kong government acted quickly. It issued a formal document the next day, announcing that it would impose a levy on securities transactions starting from the first trading day after Christmas, that is, December 27, 1976.

The stamp duty will be increased from the original 4% to 8%, and a series of detailed rules for supplementing securities transaction profits tax will be introduced.

This immediately stirred up waves, and the Hong Kong stock market was like a bucket of cold water poured on it. Trading volume dropped sharply, and the speculative atmosphere was wiped out. The effect of the policy can be said to be immediate.

For such a hot spot, Lin Xingzhi of the Hong Kong Economic Journal would certainly not miss it, and his very professional level was also demonstrated at this time.

He commented in an article in the Hong Kong Economic Journal that, “In the past year of 1976, the trading volume of the Hong Kong stock market exceeded HK$13 billion, although the volume was not as high as the previous bull market’s peak annual turnover of nearly HK$50 billion.

volume, but it also significantly exceeded the annual trading volume of over 10 billion in 1975."

"This would have been a good omen. However, now that the Hong Kong government has enacted a policy of increasing stamp duty, I am afraid that the Hong Kong stock market in 1977 will be very deserted in terms of trading volume, and may even be cut in half and fall below

The level of HK$7 billion.”

g. At the same time, he also quoted a lot of detailed data to support his guess.

Coupled with Lin Xingzhi's excellent writing style and this in-depth special report, even though the Hong Kong Economic Times reprinted the newspaper twice, the supply was still in short supply. After reading it, a large number of investors lamented that the Hong Kong stock market will not be the best next year.

It's over.

Through Lin Xingzhi's unremitting efforts, the Hong Kong Economic Journal has become more and more authoritative in the financial commentary circle, and some people have even begun to praise it as the Eastern Wall Street Journal.

Of course, Lei Yunrong didn’t know whether Pang Yidian arranged for someone to put stickers on the face of the Hong Kong Economic Journal.

In fact, Lei Yunrong still doesn't understand the Hong Kong government's tax increase, mainly because he knows too little information and his relationship with the Hong Kong government is also very weak.

However, the Li family has a deep background in Xiangjiang, and Li Zeming is also well-informed and should know some inside stories. Lei Yunrong wanted to go to him to find out the situation, and also to see his girlfriend.

No, I should go to see my girlfriend and pay a visit to Mr. Lizeming.

What was more unfortunate was that when Lei Yunrong came to Li's house, Li Yunyun was not at home, so he had to go directly to Li Zeming.

Li Zeming is actually semi-retired, and his business is usually handled by his son. Unless there are any major decisions that require him to personally make the decision, he almost always stays at home or does what he likes like Lei Juehua.

.

In the past, Li Zeming and Lei Juehua could often get together, but later Lei Juehua had new things to be busy with and the two of them had fewer gatherings. Therefore, when he saw Lei Yunrong coming over, he seemed very happy.

, smiled and said:

"Arong, why do you have time to come over and see me, an old man today?"

"Uncle Li, I haven't come to visit you for a long time. I just have time today, so I came to see you."

"I think you came here to find Xiaoyun, but she went to collect photos with her friends today."

"Uncle Li, you have really wronged me. I really came to visit you this time."

"Oh, really?"

"of course it's true!"

Then Lei Yunrong said again: "Uncle Li, you are very knowledgeable. I have a little question and I want to ask you for advice."

"I knew you, a little guy like you, who has no profit and can't get up early, wouldn't be so thoughtful. Tell me, what happened?"

Lei Yunrong didn't pay attention to Li Zeming's teasing. He stood up and got him a cup of tea and said:

"Uncle Li, you should know about the tax increase announced by the Hong Kong government two days ago, right?"

"It's not like I'm blind to what's going on outside the window. This matter has such widespread implications, how could I not know about it. Besides, your business isn't entirely focused on the stock market, so what do you have to worry about?"

"Despite this, I will definitely have more and more contact with the stock market in the future. I don't understand why the Hong Kong government suddenly enacted this tax increase policy, and I always have a confusing idea."

"Then what do you want to know?"

"I just want to understand the deep meaning of the Hong Kong government's promulgation of this measure. Is it really because of the competition between HSBC and Jardine Matheson Group for Wheelock? Or is it that the Hong Kong government is short of money?"

Lizeming took a sip of tea and said slowly:

"Many times, the British look at problems from a different perspective than we Chinese. For example, the stock market has given too many Chinese people the opportunity to rise."

Lei Yunrong asked in surprise:

"Uncle Li, are you saying that this tax increase policy is to suppress the rise of us Chinese?"

Lizeming did not answer directly:

"Hong Kong Governor MacLehose is about to turn 60. According to regulations, he should consider retirement. However, No. 10 Downing Street appreciates MacLehose's work achievements. If nothing else, it won't take long.

, an instruction will be issued to extend the term.”

Lei Yunrong was also carefully savoring Li Zeming's words. MacLehose, or the British-owned groups in Hong Kong, had truly felt the rise of the Chinese and wanted to suppress this trend.

But it shouldn't be that simple. After MacLehose took office, Hong Kong's security and economic environment have also improved significantly. Maybe people are really worried about the stock market going into trouble again.

Historically, the term of Governor MacLehose of Hong Kong was extended several times, and he served until 1982. His health was too much for him, and No. 10 Downing Street had to replace him.

When politicians are about to retire, they will show varying degrees of slack compared to the initial three things they did when they took office.

Judging from this experience, the attitude of Hong Kong Governor MacLehose in favor of strengthening stock market control is understandable. As for the other meaning, it is not without reason.

Although MacLehose is known as the most outstanding and most beloved governor of Hong Kong in the history of Hong Kong, he cannot deny the fact that he represents the interests of the British and British-owned business groups.

Therefore, Lei Yunrong's previous guess was correct. The Hong Kong government's promulgation of this measure was really a smooth process, but the reason behind it was not as simple as HSBC's lobbying.

"Uncle Li, it seems that MacLehose is sitting very upright, but his methods are much smarter."

"Arong, you are still young. This matter will not have much impact on you. As long as you continue to develop step by step, no one can stop your rise. Besides, these British-funded companies now all exude the smell of decay. The Chinese

The rise is unstoppable.”

"I understand, Uncle Lie."

At this time, Lizeming said leisurely, "The weather has changed in the north."

Lei Yunrong expressed his opinion carefully: "Yes, times are changing!"

"You performed very well some time ago. As an entrepreneur, you should never forget your sense of social responsibility. You want me to ask you what you think first. Do you have time to go to Yanjing to watch the ceremony on National Day next year?"

"Invite me? Shouldn't it be my dad?"

"Yes, it's you. Of course, Juehua is also invited."

"It should be a long time before National Day, so why are you sending out invitations so early?"

"It's getting late. In the past, invitations started from this time. Besides, the situation this time is even more special."

"Uncle Li, will you also go this time?"

"I won't go this time. I've been there many times before. I'll leave the opportunity to newcomers."

Regarding this matter, Lei Yunrong felt a bit sudden. At the same time, Lei Yunrong also had to consider the impact of going to Yanjing. Although Britain and China had established diplomatic relations at the ambassadorial level, ideological opposition always existed objectively.

of.

Thinking of this, Lei Yunrong still felt that he had to wait and see. It would be too late to go north two years later. Besides, the special zone had not yet been established.

"Uncle Li, I won't go this time. You know, all my foundation is in Xiangjiang, and I am still young. There will be many opportunities in the future. Let my father go this time."

"That's okay, I'll reply to them then."

"Thank you, Uncle Li."

"There is nothing to thank you for. If you really want to thank me, then hurry up and settle your marriage with Xiaoyun, and then hurry up and have a child, so that I can see Xiaoyun's next generation in my lifetime."

"Uncle Li, we must hurry up."

However, Lei Yunrong thought of another thing after listening to Li Zeming's words. It seems that historically he only had a few years to live and died of illness in 1983.

"Uncle Li, you will definitely be able to see Yun Yun's child if you live a long life. Since you are retired at home now, go to the hospital for a physical check-up if you have time. You can't hide your illness and avoid medical treatment."

"Haha, don't worry, I'm not an old man. Besides, I'm in good health now."

Lei Yunrong chatted with Li Zeming for a while, but when he saw that Li Yunyun had not come back, he said goodbye and left.
Chapter completed!