Reborn in Hong Kong: The Tycoon Grows Up

The collapse of Xie Liyuan Gold Shop triggered a run crisis on Hang Lung Bank and plunged Hong Kong's financial industry into a serious crisis of trust. Governor Yoder also attached great importance to this matter. After all, the Iron Lady had not left for long, and he did not want people to laugh at her.

Youde regretted selling so many war bonds in Hong Kong before. If he had 5 billion British bonds in hand, dealing with all this would not be a problem. The current fiscal deficit of the Hong Kong government is staggering, and it can no longer spend money to save Hong Kong's financial market.

The UK will definitely not care about these things. The money has already been spent, and it will be even harder to get it back.

Governor Youde looked at the bankers and heads of financial institutions sitting below, and now he could only place his hopes on them. If these people do not take action, Xiangjiang's financial system will face collapse.

Youde straightened his tie and said: "You are all the heads of major financial institutions in Hong Kong. It can be said that you are the wallet of the people of Hong Kong. I am calling you here this time. I think everyone already knows. The collapse of Xie Liyuan Gold Shop and the recruitment of Hang Lung Bank At this time, Hang Lung Bank is in a very dangerous situation and may collapse if no one comes to help them."

"Therefore, the Hong Kong government hopes that everyone will work together to help Hang Lung Bank tide over the difficulties. This is not a matter for Hang Lung Bank alone. If the matter is not handled well, it may cause a chain reaction, which will bring about the destruction of the entire Hong Kong banking industry. disaster."

The banker has sent a distress signal to Governor Youde through Joante. In Zhuang Rongkun's view, the Hong Kong government may not get a penny if it takes over the banker, but if it is acquired and old accounts are investigated, he will go to jail.

As the chief executive of HSBC Bank, Shen Bi has always been a king in the financial industry in Hong Kong. Even the Finance Department will act based on his expression. Basically, if there is any major event, everyone will give him the opportunity after the governor talks about it. This has become a routine.

Shen Bi: "Hang Lung Bank does not have much business dealings with HSBC. They have close dealings with Standard Chartered Bank and Hua Xia Bank Xiangjiang Branch. In addition, Standard Chartered Bank absorbed a large amount of deposits yesterday. I think Mr. Sanderson has the best say."

Everyone at the scene, including Governor Youde, disagreed with Shen Bi's words. HSBC plays a quasi-central bank role in Hong Kong, and now it starts to push back when something goes wrong. This is a typical example of not wanting to take responsibility.

Although it has no affiliation, HSBC has always been the bank that consumes the most resources from the Hong Kong government. It has guidance obligations for other banks in Hong Kong and also holds 70% of the minting rights. Standard Chartered Bank does not have so many privileges. Now that there is a problem, Standard Chartered Bank takes action. Is it ridiculous that HSBC is watching from the side?

Of course, Bauhaus-Sanderson was not to be outdone, and responded directly: "HSBC belongs to the central bank in Hong Kong and has the most resources. Now that Hong Kong's financial system is facing a crisis of trust, it should be the first to stand up and take charge of the situation."

"I didn't expect HSBC to be so irresponsible and leave the problem to other banks; is this what the central bank does!"

"As long as HSBC agrees to give up its minting rights, Standard Chartered Bank will definitely spend money to stabilize the financial market in Hong Kong even if it goes bankrupt. After owning the minting rights, these can be easily earned back in the future."

Bauhaus-Sanderson knew that even if Shen Bi agreed to give up the coinage rights, it would be useless, and the HSBC board of directors would definitely intervene to stop it. The right to mint money is the cornerstone of HSBC's development in Hong Kong. Without the right to mint money, HSBC would be nothing like other banks.

Now that Bauhaus-Sanderson has made the offer, everyone is waiting for Shen Bi to take over.

In fact, Shen Bi is still suffering and cannot speak out. At this time, HSBC's foreign exchange losses are very serious. HSBC has exchanged a lot of foreign exchange in recent days, causing the bank's foreign exchange reserves to be stretched thin. Since Heiyun closed its account, HSBC has not had much foreign exchange income at all. These are all the assets they have saved with great difficulty.

At the same time, HSBC issued a large number of loans, and the loans of Xiangjiang Real Estate Company were almost monopolized by them. Now that the real estate market is down, HSBC has been most affected.

In addition, several shareholder loans of Bao Huodong Mining Company were borrowed from HSBC. Just a few days ago, Li Chaoren borrowed HK$1 billion from HSBC to pay Bao Zixuan to purchase shares.

Shen Bi: "The right to mint money has been determined for a long time. To be precise, it was decided during the time of Mr. Sanderson's great-grandfather. The credit system has been formed, so it cannot be changed easily."

"It is not impossible for HSBC to take action, but I hope you can exchange part of the US dollars and Japanese yen to HSBC. Now HSBC's foreign exchange reserves are in a hurry, and people in Hong Kong are exchanging US dollars, Japanese yen, gold, etc. on a large scale. Among them, come to HSBC to exchange The number of people is the largest.”

When Youde heard that it made sense, it was unrealistic for the HSBC family to contribute money and efforts at this time, so he said: "Everyone, Hong Kong is in a critical period now. I believe you all understand what Mr. Shen Bi said. I want to maintain the credibility of the Hong Kong dollar. The system must have enough foreign exchange for the exchange of Hong Kong dollars. HSBC is indeed facing a lot of pressure. If you still have foreign exchange balances in your hands, I hope you don’t keep them secretly. Xiangjiang Financial’s credit system needs a lot of foreign exchange support.”

After Yoder finished speaking, everyone present stopped talking. Even if you have foreign exchange now, you don’t dare to talk nonsense, you have to keep it to save your life. At this time, every bank in Hong Kong was facing requests from depositors to exchange foreign exchange, so HSBC couldn't help itself.

Seeing everyone looking at him, Bauhaus-Sanderson knew he couldn't hide. After thinking for a moment, he said: "Standard Chartered Bank does have some foreign exchange, but it is not from our bank. It is the deposit of Heiyun Group in Standard Chartered Bank. Yesterday, it even used part of the emergency funds privately. If Heiyun Group needs money at this time, There is no way Standard Chartered will not pay.”

"If all the foreign exchange is exchanged to HSBC, what will Standard Chartered pay for? If you refuse to pay, the bank's credit will be damaged. It will not only be Hang Lung that will go bankrupt, Standard Chartered should also be included in it.

Hearing that Heiyun Group had a large amount of foreign exchange deposited in Standard Chartered Bank, the eyes of everyone present were filled with greed. Everyone knows a little bit about where the money from Heiyun Group went after it closed its account with HSBC.

Youde is not going to ask the Bank of Japan to save Hong Kong's financial system. Even if they agree to take action, the requirements will be very harsh. It was no different than luring a wolf into the house, and he didn't dare to take the risk.

But Youde did not dare to let Standard Chartered Bank exchange Bao Zixuan's foreign exchange deposits with HSBC. If he knew that Standard Chartered would do this, it is estimated that the next unlucky person would definitely be Bauhaus-Sanderson. Although he was not in Xiangjiang, he knew a little about the previous conflict between Heiyun and HSBC.

Bao Zixuan dared to go to HSBC to cancel his account. There was nothing else he didn't dare to do. It can be said that there is a dilemma at this time. Youde is more of a politician, and the economic field is not his strong point, so he turned his attention to the Director of Finance.

The director of finance in Xiangjiang has always been the most embarrassing existence. There is a governor above him, and there is also a HSBC boss. However, Shen Bi, the current chief executive of HSBC, is an extremely powerful person. He has the final say in formulating most economic policies. The Finance Department is basically a decoration.

The Governor had already named him, and he could not say anything; so the Director of Finance said: "The main crisis at present is that the citizens of Hong Kong do not believe in the Hong Kong dollar, and they are selling a large amount of international currencies such as the US dollar and the Japanese yen. Secondly, there is a run on Hang Lung Bank. "

"In fact, we can solve these two things together, let a company with a large foreign exchange balance take over Hang Lung Bank, and directly open a foreign exchange exchange point at Hang Lung Bank, so that all crises can be easily solved."

After the Director of Finance finished speaking, the first thing that came to mind among the bankers and heads of financial institutions present was Bao Zixuan of Heiyun Group. Currently, only Bao Shoufu has this ability and strength.

If Bao Zixuan is willing to take over Hang Lung Bank, depositors will not withdraw money at all, which can very well appease the public.

Youde: "Of course this is a good idea, but can Heiyun Group agree to take over Hang Lung Bank?"

Bao Zixuan paid a special visit to the Director of Finance a few days ago. This was the best opportunity for the Director of Finance to turn around. After being suppressed by Shen Bi for so long, he could finally feel proud. This chess piece is playing its due role.

Director of Finance: "This requires the Governor's personal persuasion. I think Bao Zixuan will not deny you face. At the same time, it can also reflect the Governor's determination and responsible attitude towards things."

With Youde agreeing to the Director of Finance's request, this Hong Kong government financial meeting came to an end. Of course Shen Bi knew that this was Bao Zixuan's plan, but he had no way to stop it. What people use is conspiracy, that is, you know what you will do, but you can only watch your opponent get it done.