Video Game Empire

"Mr. Li, to tell you the truth, as early as last year, the Municipal Party Committee and Municipal Government issued the "Interim Regulations on the Pilot Program of the Shareholding of State-owned Enterprises" to encourage large state-owned enterprises in the special zone to carry out shareholding reform. However, the actual effect is not satisfactory. Opposition is very strong!

In May of this year, the municipal government merged the 21 rural credit cooperatives in the room to set up a new deep-sea development bank. The newly established Shenzhen Development Bank originally planned to adopt a shareholding system, and planned to offer 795,000 shares at a price of 20 yuan per share.

However, the shares of Shenzhen Development Bank have been sold for nearly two months, and the actual progress is not optimistic. The shares sold are less than 30,000 shares! Mr. Li, the company's shares in your name have always been very sought after in Hong Kong! So I took the liberty to learn from you today! "

Li Hao was transferred from the post of Deputy Secretary-General of the State Council to the Special Administrative Region as mayor. And he has been the mayor for less than a year, and he also served as the secretary of the municipal party committee that was vacant after Secretary Liang was transferred. This veteran cadre, who has reached the age of sixty, has slightly white hair on the temples and a little baldness on his forehead, but his eyes hidden behind the gold-rimmed glasses are still sharp.

"The shareholding system is a new thing for China, and it is not easy to be accepted and recognized by the general public for a while. It is also a normal thing! Especially the state-owned enterprises in the mainland are used to 'big pot rice' and 'iron rice bowl', and they are asked to give up the country's Unconditionally, there will naturally be many voices of opposition!

In fact, I also know about the situation of Shenzhen Development Bank. In fact, Jiahua Bank had planned to become a shareholder before. But the government, because we are already negotiating with China Merchants Bank to become a shareholder. So we rejected our proposal! I think the reason why SDB's new shares are so poorly subscribed is mainly because ordinary residents in the mainland have very low awareness of stocks!

In fact, even many shareholders in Hong Kong. There is also a big deviation in the understanding of stocks! Hong Kong's stock market has a distinctive feature, that is, small and medium-sized investors, also known as retail investors, often like to speculate in small-cap stocks.

Because small-cap stocks have a smaller total market capitalization, share prices tend to stretch. Therefore, as long as the hype theme is appropriate, sometimes only one or two good or bad news will lead to big ups and downs. If ordinary shareholders can step on the spot, it is easy to get rich overnight!

Stocks represent shareholders' ownership of a company. Its price should actually be tied to the actual value of the company. The better the company's efficiency and the more net assets, the greater the actual value of each share of stock.

And now the Hong Kong stock market. Many "fairy stocks" don't look at the average operating performance, but the stock price can soar to the sky! This artificial hype, like a gamble, distorts the true value of a stock badly.

Funds, by contrast, prefer blue-chip stocks, which tend to have large market capitalizations. Ordinary experts can't move the stock price at all. And the performance of these companies is often more assured. Although it is rare for stock prices to skyrocket, it is usually possible to get relatively stable returns! "Li Xuan briefly introduced the Hong Kong stock market.

In his opinion, the current Hong Kong stock market has many similarities with the mainland stock market after 2000. Although there is a certain standardization, it is still not mature in general, and the risk appetite is relatively strong!

Li Xuan paused, and then continued: "In my opinion, stocks should actually be used as an investment channel for wealth preservation and appreciation. The interest rates in Hong Kong and European and American countries have long been marketized and have always been very Low. The interest you get when you deposit your money in the bank. It often doesn't even outpace the growth rate of prices, which means that the money in your hand is actually depreciating all the time!

And if you have a good vision and choose a stock of a good company to invest in, you can often get a lot of income! Even if you have no confidence in your own vision, you can choose to buy various publicly offered stock funds and let professional fund managers manage your finances for you!

For example, if a certain shareholder subscribed for 10,000 yuan of new shares at the issue price of 20 yuan per share when Jiahua Bank was listed in 1984. And if he has not sold, the value of these shares has now increased to 75,000 yuan.

But his actual income is not only the appreciation of the stock price, because Jiahua Bank pays dividends every year! For example, last year, Jiahua Bank's dividend was 1 yuan per share. After the stock split, the actual dividend received by this investor was about 2,000 yuan!

If you want domestic residents to accept stocks, you must first let them see the benefits of buying stocks! The price increase in China in recent years has also been very strong, so it is actually a very loss-making thing for everyone to keep money in their hands. Because after a few years, you will find that the money can buy much less than a few years ago!

In this way, stocks with good investment value actually have a very good promotion foundation in China! But this must first solve two problems, the first is the exit problem after the stock purchase. For example, what if you just exchanged all your savings at home with stocks today, but suddenly you need money urgently tomorrow?

If you are in Hong Kong, you can always sell your stock at a discount in the trading market through a stock broker. Even if you feel that there is still room for the stock to continue to appreciate and you are not willing to sell it at a low price for the time being, you can still pledge them to the bank in exchange for a loan! So if you want to promote stocks in China, it is very important to allow them to be freely traded and circulated!

If it can't be discounted, what is the difference between robbing money for ordinary people! It is said that the work of issuing treasury bonds in China has become more and more difficult in recent years, and many places can only conduct compulsory apportionment. In my opinion, a very important reason why treasury bills are not recognized by everyone is actually because they cannot be freely transferred.

Once residents buy a Treasury bill, it is no different from waste paper until it is due for redemption! But there is at least one hope for buying treasury bills. Those who win the lottery earlier can get back all the principal and interest in the sixth year, and even if you are lucky, you can get the principal and interest in the eleventh year!

But if stocks cannot be freely traded, they are really like waste paper! Of course, it is inaccurate to say that it is completely waste paper, because if the company's performance is good, shareholders may get a dividend every year! But that brings up another issue, which is the company that issued the stock. It must be a profitable or promising enterprise!

For example, the Hong Kong Stock Exchange has requirements for the market value and profitability of listed companies. Only companies that meet the minimum standards are allowed to issue stocks publicly. This is to ensure the rights and interests of investors!

And in my opinion. Shenzhen Development Bank seems to be completely different! As you said just now, its predecessor was the twenty-one rural credit cooperatives affiliated to Shenhai City. Rural credit cooperatives are the worst in China's entire banking system, whether in terms of business scale, profitability, or management level!

If the SAR government chooses such companies to issue stocks and wants to make blood transfusions from the public, it is undoubtedly an act of robbing the poor and helping the rich. Those who invest in buying stocks. It is very likely to face the situation of losing everything! "

Li Xuan's last words were merciless, and the secretary Li who was sitting next to him could not help frowning.

"Since Mr. Li is not optimistic about the soon-to-be-established Shenzhen Development Bank, why did Jiahua Bank so eagerly want to become a shareholder?" Secretary Li Hao pondered for a moment, then quickly raised his head and stared at Li Xuan and asked back.

Li Xuan looked at the other party very frankly, then waved his hand and smiled heartily: "On the contrary. I am very optimistic about the future of Shenzhen Development Bank! It can be said that the entire banking industry in the Mainland is now a backwater. No matter what. Whether it is China Merchants Bank established by China Merchants Group, or Shenzhen Development Bank established by the SAR government, as long as they dare to carry out reforms and better integrate into the role of providing convenient financial services for the rapidly developing economy of the SAR, there will definitely be rich returns!

And if Jiahua Bank becomes a shareholder of Shenzhen Development Bank, we will be able to provide Shenzhen Development Bank with a lot of international experience in terms of management system construction and business development, so that it can avoid some detours in the process of growth!

Of course if possible. I would naturally prefer to take a stake in the big four state-owned banks. That is the highest quality asset in the entire Chinese banking industry, but this is not realistic in the short term. So take the next step. Shenzhen Development Bank is also a good investment object!

However, from the point of view of issuing tickets, although I have not read the financial audit reports of these 21 rural credit cooperatives, I can guess that I will not be too optimistic. The premise of the successful issuance of stocks is to convince the public that this is a company with low risk and good returns!

But Shenzhen Development Bank is obviously not at this level now. Even if it can successfully become thriving after raising funds, that is another matter! Because the future is completely uncertain, if SDB squanders the newly raised money, who will be responsible for the losses of investors? "

Li Hao was silent, he already understood what Li Xuan meant. As early as last year, the municipal government issued the "Interim Provisions on the Pilot Program of State-Owned Enterprises", but the most profitable municipal enterprises, such as Shenhai Special Development Group and Shenhai Import and Export Group, are not only not enthusiastic about the shareholding reform, but also Obstructed the shareholding reform motion of its subsidiaries.

Because these companies now have good profitability, they naturally prefer to maintain the status quo stably. Therefore, the Shenhai Municipal Party Committee and the Municipal Government can only promote the pilot projects of those enterprises with poor performance, because these enterprises are willing to actively cooperate with the Municipal Government to fight in order to change the status quo! In Li Xuan's eyes, this is exactly contrary to the investment laws of the capital market!

In fact, China's early stock market has always been deformed, and the state allocated listing indicators to each provincial government. These indicators are in the hands of the provincial government and naturally give priority to state-owned enterprises. Even if private companies perform well, it is difficult to get listed indicators.

And sometimes. The attribution of listing indicators even needs to be decided by the Standing Committee of the Provincial Party Committee. The state-owned enterprises most in need of saving in each province are listed after a surprise beautification and packaging, and the money that gets in can make the company look good for several years.

Therefore, for a long period of time, the Chinese stock market has been replacing the central finance and acting as a blood transfusion for a large number of state-owned enterprises that are on the verge of bankruptcy. Naturally, these listed companies, which are golden and jaded, cannot be measured by the concept of value investment. Therefore, investors can only speculate on themes and hot topics, turning the stock market into a casino.

"I personally think that if the SAR government wants to succeed in the shareholding system reform, it needs to start from two aspects! The first aspect is to set up a professional securities company to temporarily authorize all stock transactions. When the time is ripe in the future, it will be established again. The real stock exchange market!

The second aspect is to promote a group of high-quality enterprises to carry out joint-stock reform first. And I don't think these pilots have to be limited to the narrow scope of state-owned enterprises. Township and village enterprises are also an important part of China's economy. Moreover, compared with state-owned enterprises, township enterprises not only have less historical burden, but also face a more sinister living environment, so they also have the motivation to reform! "Li Xuan said with a smile.

Secretary Li Hao seemed to be thinking about Li Xuan's proposal, so the room fell silent. In fact, Li Xuan is very aware of the other party's thinking. The main reason why the deep-sea special zone actively promotes the shareholding system reform is to find a new way for the reform of state-owned enterprises.

So Li Xuan was about to add some chips, and he suddenly proposed: "Has Secretary Li considered letting large domestic companies go to the Hong Kong stock market to raise funds?"

"Go to Hong Kong?" Li Hao said noncommittally.

"Yes, Hong Kong's capital market has abundant funds. If a large amount of Hong Kong's funds can be introduced into China's real economy through the stock market, it will undoubtedly greatly speed up the development of China's economy! In fact, many enterprises in the SAR are fully in line with the Hong Kong Exchanges and Clearing. The listed standard!

For example, Huaqiang Electronics Co., Ltd. has achieved very good benefits in recent years, and its cooperation with Dongfang Group has made it easier for it to be accepted by the Hong Kong capital market! If Secretary Li is willing to give it a try, Asia Securities, Jiahua Bank, and Standard Chartered Bank of Hong Kong will do their best to build momentum! "Li Xuan said very confidently.

The Hong Kong branch of Standard Chartered Bank was listed on the Hong Kong Stock Exchange late last year as an independent company. And Li Xuan successfully became the largest shareholder of Standard Chartered in Hong Kong by replacing the Standard Chartered shares he held.

Hong Kong Standard Chartered's original Taipan Sir Goldstein ~www.wuxiaspot.com~ was transferred back to the UK headquarters after the completion of the listing work. So under the nomination of Li Xuan, Yang Lingjun, the former chairman and president of Jiahua Bank, became the new president of Standard Chartered Bank in Hong Kong.

And Li Xuan himself, as the largest shareholder, served as the chairman of the board of directors of Standard Chartered Bank in Hong Kong. The newly established Standard Chartered Bank in Hong Kong is actually under the control of Li Xuan. Of course, the reason why he was able to take over Standard Chartered in Hong Kong so smoothly is also inseparable from the cooperation of the British head office.

The price Li Xuan paid was the 17.5% stake in Standard Chartered that he originally held, and the shares he later purchased through Xu Jiankui. Except for retaining only 2% of the shares, the rest of the shares were sold in the form of replacement or resale.

After taking control of Jiahua and Standard Chartered, the second and third largest banks in Hong Kong, Li Xuan's influence in Hong Kong's capital market can already keep pace with HSBC's! Even the Asian Securities Company, which was just established last year, has begun to make full efforts in the Hong Kong securities market after receiving the full support of the two major banks, Jiahua and Standard Chartered.

Therefore, Li Xuan now dares to be very confident, and proposes to the Secretary of the Special Economic Zone Municipal Party Committee in front of him to introduce the concept of Chinese-funded H-shares into the Hong Kong stock market in advance! (To be continued.)