There are many Hong Kong piers, but most of them are large piers, and there is only one public pier that can accommodate small boats to dock and drop off passengers, which is Queen's Pier in Edinburgh Place, Central, Hong Kong Island, adjacent to the Hong Kong City Hall, facing Victoria Harbour.

May 20th.

Xia Yu stood in front of the floor-to-ceiling windows of the upper floors of the Jiuding Bank Building, looking at the grand handover ceremony being held at the Queen's Wharf.

It was a special day.

It was only because the newcomer Peter Monroe, the Governor of Hong Kong, arrived at the Queen's Wharf and handed over power to MacLehose on the wharf, officially assuming the position of Governor of Hong Kong.

Looking at the grand celebration ceremony, Liu Tianci, who was standing next to Xia Yu, said with a smile: "Chairman, it seems that there are many bigwigs on the scene to welcome Peter Monroe's arrival, when are we going to visit him? Or will we wait until he holds a banquet?"

An inexplicable smile appeared on the corner of Xia Yu's mouth, and he shook his head slightly and said, "There's no need to visit him, he will take the initiative to come." ”

Liu Tianci was stunned for a moment, and glanced at Xia Yu puzzled: "Will he take the initiative to come?"

Xia Yu bowed slightly, did not hide it from Liu Tianci, and said softly: "I have reached an agreement with the British Prime Minister, and in the future, I will have the final say in Xiangjiang!"

"Peter Monroe should have been given orders. ”

Liu Tianci was shocked, looking at Xia Yu with an indifferent expression on his face full of shock, and then, his heart was filled with great joy.

If what the chairman said is true, then from this moment on, the sky in Xiangjiang will change, and the chairman will cover the sky with one hand, from the business and political tycoons to the people of Limin, all of whom will be shrouded in the shadow of the Jiuding Consortium!

What this means, Liu Tianci can't imagine, but he knows that Jiuding Bank has stepped on the head of HSBC and the time has come to dominate Xiangjiang!

"Wang Qi should be almost here, tell me about the situation of the Stock Exchange!"

With that, Xia Yu turned around and left directly.

Liu Tianci once again took a deep look at the bustling Queen's Wharf in the distance, and with a smile on his face, he strode away, he wanted to meet Wang Qi first, and then report to the chairman on the progress of the Stock Exchange.

......

It didn't take long for Wang Qi to come to the Jiuding Bank Building, and after a brief communication with Liu Tianci, the two came to Xia Yu's office.

"Chairman, I'm sorry I'm late!"

In the face of Wang Qi's apology, Xia Yu waved his hand and said: "Kowloon is a little far from Central, you are not late, sit down, and tell me about the specific situation of the Stock Exchange." ”

Liu Tianci and Wang Qi glanced at each other, and then Wang Qi took the lead in saying: "Chairman, from September to March last year, we completed a large number of equity acquisitions of the four major exchanges, and then on the 18th of last month, we completed the asset integration of the four exchanges, and converted all the equity of the four major exchanges into the equity of the Xiangjiang Stock Exchange. ”

"After the conversion, the total share capital of the Stock Exchange is one billion shares, and we hold a total of 495 million shares, accounting for 49.5 percent, but these shares are dispersed among Jiuding Bank, Jiuding Securities Company, Standard Chartered Bank, Jiuding Insurance Co., Ltd., Island Chiba Bank and Hang Lung Bank, of which Jiuding Bank holds up to 15% of the shares, and is also the largest shareholder of the Hong Kong Stock Exchange. ”

"In addition to us, the second largest shareholder is the Heung Kong government, which holds 10.5% of the shares and has two board seats, and the Bank of East Asia and Lee Fuk Siu hold a total of 9.2% of the shares, making it the third largest shareholder......

As Wang Qi narrated, Xia Yu had an intuitive and specific impression of the Xiangjiang United Exchange.

In this life, under his intervention, the Hong Kong Stock Exchange is fundamentally different from the previous life.

According to the historical trajectory, the Hong Kong Stock Exchange had to wait at least until 1985 to get to this point, but now it has reached this level three years ahead of schedule.

In addition, the Hong Kong Stock Exchange in the previous life was a membership-based stock exchange, while in this life it is a company-based stock exchange, which is a fundamental difference in the system.

Both systems have their own advantages and disadvantages, and for people with different positions, the meaning of advantages and disadvantages is different.

A membership-based stock exchange is a non-profit-making organization established in the form of a membership association, mainly composed of securities dealers. Only members and licensed brokers are eligible to trade on the exchange. In addition, the membership-based stock exchange implements member autonomy, self-discipline and self-management. The highest authority of a membership-based stock exchange is the General Assembly, and the Board of Directors is the executive body, and the Board of Directors hires managers to be responsible for day-to-day affairs.

For example, the Shenzhen Stock Exchange and the Shanghai Stock Exchange in the mainland in the previous life were both membership-based stock exchanges.

The corporate stock exchange, on the other hand, is a company established by the joint investment of various investors, and the corporate stock exchange has the responsibility to guarantee the securities transactions in the stock exchange, and must have a compensation fund.

The Geneva Stock Exchange in Switzerland, the New York Stock Exchange in the United States, and the London Stock Exchange in the United Kingdom are all typical representatives of corporate stock exchanges.

As for the advantages and disadvantages of exchanges in both regimes, let's briefly summarize them.

The advantages of the membership-based stock exchange: relatively speaking, it is not the economic interests as the first goal of the enterprise, but how to make the exchange platform bigger and stronger as the first goal.

Disadvantages of membership-based stock exchanges: there are more rules, the efficiency is relatively low, and the scale of the exchange is relatively slow.

The advantages of the corporate stock exchange are: because it does not directly participate in the trading of securities and is in a neutral position in the process of securities trading, it helps to ensure the fairness of the transaction; at the same time, because its main responsibility is to provide various material conditions and services required by the stock exchange, its business activities are relatively simple, and it is conducive to providing securities dealers with the most complete trading facilities and services possible.

Disadvantages of a corporate stock exchange: Compared with the membership system, maximizing shareholder profits is the primary goal of the company, and sometimes the interests of other traders are harmed for the benefit of shareholders.

For Xia Yu, a capitalist and the king of Xiangjiang finance, of course, the company-based stock exchange is more beneficial to him and can better stabilize his position in Xiangjiang.

And in order for Hong Kong to rise as quickly as possible, the inefficient and slow expansion model of a membership-based stock exchange is indeed inappropriate.

......

After Wang Qi finished speaking, Xia Yu asked: "Is there a lot of noise in the United Stock Exchange now?" Are Li Fuzhao and the others honest?"

This time, it was Liu Tianci's turn to introduce the chairman of the board of directors.

He shook his head and said: "Li Fuzhao is definitely unwilling, but he is a smart person, so after obtaining the position of vice chairman of the exchange, he is also more cooperative with the company's various decrees. ”

But he is also the second largest force in the exchange, and under his collusion, Hu Hanhui, Chen Pufen, Wang Qiming and Hu Baixi are all rallying around him, and they together hold more than 22% of the shares and have four board seats. ”

"On our side, we have 10 seats on the board, and in addition to the 9 seats corresponding to our own equity, Bank of China has also given us 0.5% of the voting rights corresponding to the equity, so that we have increased the number of seats on the board of directors, and now we control 10 of the 19 board seats. ”

"We are also the majority shareholders of Hang Seng Bank and HSBC, and the directors of these two banks on the exchange have been on our side. ”

"And the two directors from the Hong Kong government are also very supportive of us, so the merger of the exchanges is going very well. ”

"Now that the new Governor Peter Monroe has taken office, the position of the two directors of the Hong Kong government will definitely be more firmly on our side,"

Xia Yu showed a smile and said affirmatively: "Good job." ”

"Thank you, chairman, for the compliment!"

Liu Tianci and Wang Qi immediately replied modestly.

Xia Yu smiled and continued to ask: "So what procedures do the United Stock Exchange need to go through now, and when will it be officially launched?"

PS: In the last hour of the month, ask for a ticket, thank you!