"Hong Kong implements a linked exchange rate system, that is, Hong Kong dollars are exchanged for U.S. dollars at a fixed exchange rate, so the Hong Kong dollar is not a currency in the true sense, but a U.S. dollar exchange bill. This system has ensured Hong Kong's stability for fourteen years and is an important factor in Hong Kong's economic development.
A sea-fixing needle.”
Yao Yuan took over and spoke, saying, "Soros's strategy is obvious. They want to attack the Hong Kong dollar and force the SAR government to abandon the linked exchange rate system just like they did to Thailand and other Southeast Asian countries. Once they succeed, Thailand's present will be Hong Kong's future.
.”
He glanced at it and said, "Soros' Quantum Fund has attracted a large number of international speculators, and the international hot money following their actions is a huge number. They have invested in the world's four major securities markets as well as Russia, Taiwan, and South Korea.
A battlefield has been opened up, so this war will be a big war that will spread all over the world."
Yao Yuan knocked on the table and said, "Hong Kong will be the main battlefield."
He looked at Li Jinghan and said, "President Li, BOCI Securities is one of the largest securities firms in Hong Kong. If the SAR government wants to enter the market, I will probably ask you and the four securities firms Yingda, Hesheng and Duoli to act as representatives."
Li Jinghan nodded slightly and said to Deputy Director Zhuo and Director Li, "There are more than 600 securities firms in Hong Kong. Our strength at BOCI Securities is one of the best in Hong Kong. If the government wants to enter the market to do business, it will definitely come to us."
He changed the subject and asked, "The question is whether the SAR government will intervene. The SAR government has always pursued a policy of non-intervention. This is Hong Kong's basic policy as an international free port and a regional financial center."
Director Li knew this clearly and nodded slightly, "This is a basic issue and the possibility of non-intervention by the SAR government should be taken into consideration."
Pan Jie said, "We have corresponding plans. If the SAR government does not intervene, our battle goal will be to repel Soros and try our best to maintain the bottom line of the Hang Seng Index."
Before today's opening, the Hang Seng Index's high was 16,870 points. It dropped more than 100 points at the opening, and then experienced a small rise and fall for more than an hour. When the market opened in the afternoon, the nightmare began, falling all the way, and plummeted by more than 1,100 points by the close.
point!
Industry analysts believe that the temporary plunge was caused by some speculators selling Hong Kong dollars and HSBC shares in the New York stock market. It is generally believed that the Hang Seng Index will return to its high point soon after Monday's opening. This comes from investors' confidence in Hong Kong's economic development.
.
But Yao Yuan knew that this was a test by Soros to see the emergency response mechanism of the SAR government.
The result was difficult for Soros to handle. As a long-established regional financial center, Hong Kong had experienced the stock market crash in the 1970s. It was very experienced in dealing with such emergencies and had developed a complete response mechanism.
Effective.
Yao Yuan judged that Soros would stop and continue to look for Hong Kong's weaknesses, and he would not give up.
He said, "After the market opens on Monday, the Hang Seng Index will most likely rise sharply and return to the high point before the plunge. Soros will continue to secretly look for Hong Kong's weaknesses. If he attacks again, it will be a full-scale war."
Smiling, he said, "I estimate that there will be at least a month or two of blank time here. I suggest that everyone do what they are doing for the time being and recharge their batteries until the war begins."
Li Jinghan asked, "Mr. Yao, do you think the Hang Seng Index's plunge today is a test attack by Soros?"
Yao Yuan nodded slightly, "It's very possible."
"If this is the case, this war has actually begun." Li Jinghan said thoughtfully. After thinking for a while, he turned back to his men and said, "Let's not rest. Let's study hard with our colleagues from Huayin. You International Securities
Some people think that they are one of the most powerful securities firms in Hong Kong and are complacent. Compared with your colleagues in the Huayin Securities Department, you are still far behind."
The central bank, the State Administration of Foreign Exchange, and the Bank of China Hong Kong Branch have all recruited three or five young and promising financial talents to study here. In fact, they may not think so in their hearts. The chain of contempt here is real.
Especially those from the Securities Department of BOCI, they look down on Hua Xia United Bank, let alone those from the Central Bank and the Administration of Foreign Exchange.
They know that the predecessor of Hua Xia United Bank is Nanyang Bank, which is just a small and medium-sized bank in Southeast Asia.
However, after Nanyang Bank was acquired, the reorganized Hua Xia United Bank has been keeping a low profile.
As a large securities firm with many years of roots in Hong Kong and rich experience in the industry, BOC International Securities Department makes sense to look down on Hua Xia United Bank, a non-well-known bank.
Li Jinghan was afraid that these subordinates would not pay attention to them or cause trouble because of their contempt for others, so he said with a straight face, "Hua Xia United Bank has made more than 5 billion in long-term and short-term investments in major stock markets such as South Korea, Japan, London, and New York in the past three or four years."
U.S. dollars. If you had half the skills as this person, the Bank of China International Securities Department would have become an internationally renowned securities firm long ago."
Several elites from the Securities Department of BOCI opened their eyes in surprise, subconsciously thinking that Li Jinghan was joking or being deceived. However, they suddenly realized that in this serious occasion, people from Hua Xia United Bank would not joke about such a thing.
Mr. Li, who is also a professional, is not easily deceived.
At this time, Gao Jian pointed to Pan Jie with a smile and said, "Some of them are from Shenzhen Development Bank. Shenzhen Development Bank has a huge amount of funds. They carry out investment activities in overseas financial markets through us. Fortunately, they have lived up to their fate and are considered small companies."
There is a gain."
This was also the first time Director Lin heard about this matter. He didn't care what the people below him thought. He was concerned about the situation of Huaxia United Bank and Shenzhen Development Bank, especially the latter.
He hurriedly asked, "President Pan, can you elaborate on this matter?"
The central bank controls all banks in the country. Director Lin is the de facto director, and he and Deputy Director Zhuo are vaguely equal.
Pan Jie's attitude was sincere and respectful, and he said, "Director Lin, the situation is like this. Our business in Russia has developed more smoothly than expected. There was a large backlog of U.S. dollars in Russia for a period of time. It will be very difficult to recover it according to normal procedures.
It’s troublesome, so I discussed it with Governor Gao and asked them to act as agent for the backlog of U.S. dollars on our behalf.”
He smiled and said, "I didn't expect that not only did I get it back completely, but I also made a lot of profit. I didn't expect it either."
Gao Jian smiled and said nothing.
This was all done under Yao Yuan's instructions. Some very cool operations cannot be imagined by ordinary people. Only Yao Yuan's brain can produce them...
Director Lin did not want to get to the bottom of things. What he was most concerned about was actually the matter of "domestic banks making profits from investing in foreign financial markets."
The major national banks in China, except for the Bank of China, the Agricultural Bank of China, the Industrial and Commercial Bank of China, and the China Construction Bank, have never made even one cent of profit in the international financial market. However, in the past two years, they have paid tens of millions of dollars in tuition fees...