In the afternoon of the next day, Li Guangyu was invited by the Hong Kong Monetary Authority to attend the meeting as a special guest of the Hong Kong Financial Conference.

Xiangjiang is currently in a critical moment, the stock market has plummeted, the property market is about to collapse, and most of the funds of the major banks in Xiangjiang are circulating in these two areas, one is not careful, the momentum of Xiangjiang's rapid development in recent years will stagnate, and there may even be a phenomenon of regression.

Obviously, the Hong Kong government does not want such a situation to occur, and the purpose of convening the heads of major financial institutions in Hong Kong to attend the meeting is to maintain the stability of Hong Kong's finances.

At the same time, it is hoped that everyone can support the industry and commerce of Xiangjiang, and under the situation of huge pressure on real estate, major financial institutions should reduce the financing of the real estate industry and turn more funds to other industries and manufacturing industries.

The heads of financial institutions in Hong Kong were invited to attend the meeting, as well as special guests such as Henry Keswick, Lorence Kadoorie, Woolden Schwaier, Pao Yugang and Hui Shixun.

Speaking at the meeting, the Director of the Hong Kong Monetary Authority, Mr McBurney de Shaun, said, "Thank you very much for coming to this meeting, Hong Kong is facing serious challenges, and today's meeting aims to promote exchanges and solicit views and opinions on Hong Kong's financial community, so as to contribute to the development and financial stability of Hong Kong. ”

McBurney DeSean then recounted the current situation facing Hong Kong, and offered his views on the excessive inflow of money into real estate by banks.

At this time, the major banks are required to stick to their own funds to the real estate industry, and at the same time to clean up the bank's liabilities, and the financial bureau will supervise the banks in the near future to prevent the banks from becoming insolvent.

The heads of HSBC, Standard Chartered and Tianyu Financial Group, which are currently the three giants in Hong Kong, made speeches one after another, focusing on supervising the real estate groups that have lent money, paying attention to market trends at any time, and preventing the emergence of large amounts of bad debts.

These giants are not too worried, they have enough financial resources to deal with this crisis, and many small and medium-sized financial institutions are under great pressure.

Because they want to compete for business with these large financial groups, they have relaxed a lot in terms of loan conditions, and many of the objects of their loans are also small and medium-sized real estate companies, and in the face of this imminent storm, these real estate companies will definitely be the first to sink.

Now the Monetary Authority has also strengthened its supervision of them, which makes them even more pressured, and as long as the company and the bank collapse, they will face the receivership of the Monetary Authority, and they will go into bankruptcy liquidation.

The heads of these small and medium-sized financial institutions are not stupid, they know very well in their hearts that the current property market cannot be sustained, and they are not ignorant of the vacancy rate of the Xiangjiang property market.

The main reason why housing prices have been able to maintain until now is that many people feel that the myth of the rising property market will not be shattered, and they do not think that they will be the last to take over.

However, a few days ago, a piece of news came, instantly let the property market enter the cold winter, these days, whether it is Central or Kowloon, whether it is the urban area or the remote Tin Shui Wai area, there are constantly houses and shops hanging out, but unfortunately there are more and more people selling at present, and there are almost no people buying.

At present, these small and medium-sized financial institutions have no funds to support the development of industry and commerce in Hong Kong, and they only hope that they can recover the money they have released as soon as possible, so as to prevent the banks and companies from not having enough cash flow and being run by the public.

After the representatives of the heads of these financial institutions spoke, Li Guangyu, as a special guest, also expressed some of his own views.

Li Guangyu said: "The development of Xiangjiang over the years has not come easily, it is with so many financial institutions stationed in Xiangjiang, that Xiangjiang has become the world's third largest financial center, we must be full of confidence in the future of Xiangjiang, we must believe that the current difficulties are only temporary, and the future development of everyone will only get better and better." ”

"The most important thing for the major financial institutions in Xiangjiang is to clean up their bad debts as soon as possible, especially those large loans, we must follow up and supervise to prevent them from becoming bad debts of banks and institutions, financial institutions are very important to Xiangjiang, only when everyone is stable, all walks of life in Xiangjiang can develop steadily. ”

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As for some of Li Guangyu's views, all of you here selectively agree, especially the views on the property market, the Li consortium and its interest groups ran out as early as last year, successfully avoiding the impact of the property market crash on them.

At the beginning of this year, the financial group to which the Li consortium belongs and its allies also strengthened the supervision of real estate loans, raising the threshold for loans, so that they have very little pressure in this regard.

As for McBurney DeSean's proposal to support Hong Kong's industry and commerce and to make loans as tilted in this direction as possible, not many of the delegates at the meeting mentioned it.

At present, which of the major families in Xiangjiang is either in the financial industry or in the real estate industry, even if the families and groups that are mainly in other industries also have real estate companies in their hands.

The windfall profits of real estate have made the Xiangjiang families devote more energy to the real estate industry, and the profits from developing one real estate project are equivalent to the profits of other industries for five to ten years, and they are obviously more willing to invest in it.

Especially the upper-class family in Xiangjiang, there is no one who does not have a real estate company in their hands, even if the Huo family is restricted by the Xiangjiang government in this regard, they are also engaged in building materials in the real estate industry.

These representatives are all representatives of the largest financial institutions in Hong Kong, and they lend more to these big families, so there is no way to talk about this at all.

At present, Xiangjiang's low-end manufacturing industry is limited by labor costs, many companies are currently moving to the mainland and treasure islands, and there are not enough talents to support the mid-to-high-end manufacturing industry, Xiangjiang currently only has Xiangjiang University and Xiangjiang Chinese University, which is simply not enough to meet the needs of Xiangjiang's high-tech development.

Therefore, it has also caused major families to march into the real estate market, and the hollowing out of Xiangjiang industry has begun to slowly appear.

Not to mention anything else, the Li consortium has not recruited personnel in the Xiangjiang Industrial Park for two years, and Li Guangyu will slowly eliminate these low-end manufacturing industries and begin to march to the middle and high-end.

Li Guangyu doesn't have a great need to spend an extra part of the cost to support the employees of the industrial park, Pengcheng is so close to Xiangjiang, and the labor cost is many times lower than Xiangjiang, he naturally prefers to produce in Pengcheng.

McBurney DeSean is also aware of the current situation in Hong Kong, but Governor Youde hopes that financial institutions will tilt towards the manufacturing sector and promote the industrial upgrading of these companies to ensure the sustainable development of Hong Kong.

During MacLehose's administration, Hong Kong's economy maintained rapid growth for seven years after initial difficulties, making Hong Kong known as the Asian Tigers along with South Korea, Treasure Island and Singapore.

At present, the other three regions are developing high-tech industries with semiconductors as the core, and Youde also hopes that Heungjiang can keep up with the footsteps of these regions so that the economy of Xiangjiang can be diversified.

It's a pity that Youde's current idea is good, but I'm afraid that he won't have that kind of idea in two years, and Britain will only choose to leave a series of problems to the mainland at that time, so as not to estimate the future development of Xiangjiang.

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