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July 26th is destined to be a day remembered in China’s financial history. When regulators promoted financial marketization, the RMB was shorted, Shibor broke through ten, the stock market rose, and the securities market was weird, but everyone could see that the risks were intensifying. .

When ordinary market participants were still half-understood, a large number of selling orders appeared at the 4200 point position.

ETFs, heavyweight stocks, and a large amount of selling are blocked at the 4200 point position. You can say that these orders are short positions, but they do not suppress the index, but the words "strong selling" cannot be compared with the bulls.

Only people in the industry know that this is a financial Great Wall built at 4200 points. Although it is immature, its attitude is very firm.

Either wipe out the selling orders and break through 4200 points, or let the stock market develop normally. This is the attitude of Thunder.

"coming."

"A newborn calf is not afraid of tigers...that's not right, he is a tiger to begin with."

"I didn't expect that the Thunder would be the first to take action."

People in the financial circle who noticed something was wrong with the market said they were shocked. Thunder accumulated funds at 3800 points, then shouted that 3600 points was the normal position, and then placed orders at 4200 points to stabilize the market. This attitude has been very obvious. .

Yanjing, the China Securities Regulatory Commission, and Chen Donghai, Ai Bingwen's father-in-law and vice chairman, issued instructions on the other end of the phone: "We must severely crack down on market manipulation and maintain the stable development of the securities market..."

"Chairman Chen." Chen Donghai's secretary pushed open the office door, with an undisguised expression of panic and eagerness on his face.

"Are you good at doing things? Don't you have to knock on the door before coming in? Did you know..." The secretary's ignorance made Chen Donghai furious. Fortunately, he was also an experienced person and knew that something big would happen when people around him were panicking. happened, he immediately changed the subject and asked: "What happened?"

"Please take a look at the stock market first." Secretary Noonoran replied.

"The stock market?" Chen Donghai had been staring at the stock market in the morning. There were many phone calls just now, so he didn't have time to pay attention. When he turned on the computer again, he was stunned.

"A lot of selling."

Yes, there were a lot of selling orders, and as regulators, at this sensitive moment, many people used their connections to find out the origins of these selling orders. A large number of people were shocked.

"What does Thunder want to do?" Wang Huachen adjusted his glasses, and his eyes seemed to be shining with light under the lenses: "What does Thunder want to do? Lei Hao...well done!"

"Now it depends on whether the opponent will show up." Qin Yu was sitting in the trading department in the Shanghai stock market, and his palms were sweating.

"It's impossible not to show up. This battle has to be fought. Mr. Lei is taking some risks." Hanlong and Song Dongyuan were also agitated unknowingly.

More upper-level people in the circle breathed a sigh of relief and watched this pioneering battle that may ignite China's financial marketization process.

"There are too many people who are bullish or need the index to rise. It will be difficult for the Thunder to win."

"However, it is not necessarily an increase. The current valuation of the stock market is too high."

"As long as the RMB exchange rate fluctuates and falls a lot, it may lead to another speculative rise in the stock market. Everyone has already set the script."

The complexity of the financial market is clearly revealed at this moment. The psychology of market participants can never be the same. Indexes are objective, but market participants' views of the market are subjective.

The only worrying thing is that in such a big battle, the Thunder's funds... don't seem to be that sufficient.

But what makes people tangled is that the halo accumulated by Lei Hao has finally taken effect. Not only Qingyu and Hanlong, but also the representative capital of institutions such as Keda and HSBC have transformed the market from a determined development direction to a There are still variables.

Lei Hao is a variable in itself.

And there are regulators. If Thunder jumps out, what will the regulators do?

"Give it to him! Make an announcement, make an announcement quickly. The process of securities marketization is the process of improving the two financing systems. China has a short-selling system, and our securities lending quota... uh, there are still tens of billions."

"Let Huijin set up a channel for Lei Ting and lend the stocks in his hand to the other party. We can do this level of action! Give it to him, both the securities lending people and the financing people. We will definitely need it later."

"Don't be afraid that the Thunder will not be able to pay back if they lose. How much assets do they have? 20 billion? No, the Thunder's valuation cannot be so low. Give them 30 billion. Even if it is completely determined by the market, the Thunder's credit line can definitely reach 30 billion. "

Everyone was dumbfounded, but after reacting, they immediately got busy.

I never expected it. I thought you were a traitor, but now it seems that you may be a loyal minister. What else is there to say? Everything is easy to discuss, brother. If you want a quota, give a quota, and if you want a channel, give a channel. The country cannot issue policies now, but as long as it follows marketization, it will give you whatever you want.

Don't be afraid of losing. The country's chicken is going to break 70 trillion this year. It's not that I don't have money, but I can't interfere too much. What I lack is not money, but people who dare to come to power and are qualified to come to power.

Yangcheng, Thunder.

The trading department is now under martial law. Ordinary people are not allowed to enter, and those who enter are not allowed to bring communication equipment. Only Lei Hao can communicate with Tao Liyu, Leo and others, and others can only see the situation in the headquarters.

Various data are jumping on the screen wall, and there are still no funds to touch the selling orders piled at 4200 points, but everyone knows that this is just the calm before the storm.

"Our securities lending channel is very smooth. The China Securities Regulatory Commission has increased the total securities lending limit of Yingyi Securities. Taihe's financing limit is closely monitored. It is said that the superiors will send people to investigate whether they have illegal transactions." The atmosphere was a bit tense. , Xiang Yongze said in a pleasant tone.

Taihe wanted to use Lei Ting as a target, but he didn't expect Lei Ting to be a loyal minister. Immediately, the supervisors adjusted their guns and their vitality increased sharply.

Thinking about it, it was originally a certain death situation, but now it seems that there is still a possibility of winning, and the boss almost laughed three times.

However, everyone is still unsure. China’s financial circle is not in contact with the international financial circle. In many cases, we can only win by relying on the protection of the Central Government. Now promoting marketization is equivalent to the Central Government having to tie its hands and let the Central Government restrain its hands. The "children" try to see if they can win.

In other words, the central bank must explain to the outside world the extent to which it will intervene. This flexibility is very, very important and is almost related to the status of the renminbi.

Therefore, the success or failure of Lei Hao's representation of capital is related to how much effort the central bank needs to exert, and it almost represents whether the important step of China's financial marketization can be taken steadily.

The eyes of knowledgeable people from Yanjing, Shanghai Stock Exchange, Hong Kong Island, Asia Pacific, and around the world were attracted.