After spending a few days in the capital, Margaret Thatcher came to Xiangjiang again, and in an interview with the media, she declared in a high-profile manner that Britain would not give up Xiangjiang, and only under the leadership of Britain would Xiangjiang maintain permanent prosperity.

The next day, after the contents were reported, the director of the Xinhua News Agency in Xiangjiang immediately stood up and stated: Xiangjiang is an inalienable part of the national territory, and according to the contract signed between Britain and the Manchu Qing Dynasty in that year, in 1997, the mainland government took back Xiangjiang in full accordance with international law.

At the same time, the Ministry of Foreign Affairs in Beijing openly stated that the resumption of Xiangjiang by the mainland is a need for territorial sovereignty, and that considering that the people of Xiangjiang are accustomed to the present life, the policy of "one country, two systems" will be implemented for a long time, and the central government will not ask for Hong Kong's financial revenue, but will also implement the strategy of "Hong Kong people governing Hong Kong."

......

The media on behalf of the two sides have come and gone, declaring war in the air, causing a wave of panic, and the collapse of the real estate market is the first to bear the brunt, in just one week, the average transaction price in Xiangjiang fell by 20% to 30%, and the biggest decline is industrial land and high-end housing.

In December 1980, the price of industrial land in Kowloon Bay was HK$360 per sft in terms of floor area, but in October 82, it was only HK$25 per sft, a drop of 93%.

Some residential sites on Hong Kong Island have also fallen from HK$1,500 a foot to HK$540.

But in fact, the real decline has not yet been fully revealed, at this moment in Xiangjiang, any intermediary agency is almost surrounded by crowds, these people are not here to buy houses, all of them are selling.

Some of them are self-sustaining, but more of them are all kinds of speculators, and some of them even spend pension money and borrow money from relatives to invest in it.

In today's market, there are only people who sell, but there are not many people who buy, and there are some gamblers among them, hoping that the current situation is only temporary, so that they can start at a low price now, and they can make a lot of money in the future.

However, the ideal is beautiful, the reality is cruel, in order to improve the confidence of the real estate market, the Hong Kong government held a real estate auction in early October, including some commercial and residential land in good locations.

But the final result is that more than half of the land is unsold, and most real estate companies go to the auction, not to auction these lands, but to know the market of the entire real estate industry up close.

The most important thing in the real estate industry is confidence, but everyone wants to count on others to invest heavily in the market, and the final result is that no one cares about the land, and even the land, which has always been called a "real estate friend", is unwilling to end, and everyone understands that a real estate crisis has officially arrived.

A number of companies in Heung Kong have also been affected.

Small companies have a simple structure, and many bosses have long been prepared with the funds to walk, and now they are in a state of observation, and if something is wrong, they will immediately buy a ticket and leave.

Although there are some overseas funds, if they leave their home Xiangjiang, I am afraid that they will immediately return to the pre-liberation period overnight, so they have shrunk their fronts and began to prepare to survive this winter.

Although it is inseparable from Xiangjiang, the ability of giant companies to resist crises is generally not bad, but there is one company that is special, it has a lot of "assets", but it is a fat man.

On September 26, 82, the third day of the Iron Lady wrestling, Jianing released its interim results, with a profit of HK $270 million, an increase of 27.5% over the same period last year, and announced a dividend of one dime and two cents per share.

However, the plunge in land prices still hit Jianing's stock and market prospects violently, and on October 26, Jianing suddenly announced that it would cancel its medium-term dividend and replace it with a 3-year bond, and was also preparing to issue HK$500 million of preferred shares to raise funds.

This move immediately detonated the entire stock market, and everyone knew that Jianing must have a serious predicament, although Jianing's senior management repeatedly emphasized that this was the company's preparation for the next round of investment, but Jianing's shares still fell by three percent in one day, from HK$1.52 per share to HK$1.02.

Affected by this, the stock market of the entire Xiangjiang also fell sharply, and the panic of countless shareholders caused greater losses, and the Hang Seng Index fell below the "psychological defense" of 800 points, and the total market value of the stock market lost 13.2 billion Hong Kong dollars in one day.

For Chen Songqing, another bad luck is that Jianing's long-term partner, his Chen Songqing's guide, Zhong Zhengwen, chairman of Yida Group, absconded overseas on November 1, leaving behind a huge debt of 2.1 billion Hong Kong dollars.

The Independent Commission Against Corruption and the police immediately took over the entire Yida Group, and successively found out that several cooperation projects between Yida and Jianing had huge financial problems, but fortunately, the cooperation between the two did not have a guarantee relationship, Chen Songqing temporarily escaped from the investigation of Yida, but also became the focus of the police's Economic Crime Investigation Bureau.

On this ground, the Hong Kong Stock Exchange rejected Jianing Group's HK$500 million fundraising plan.

Golden Gate Building, Central:

Two years ago, it was the most famous building in the whole of Hong Kong, from 750 million Hong Kong dollars in 78 years, to 1 billion in the early 80s, and then to the transaction price of 1.7 billion Hong Kong dollars at the end of 80 years, in just two years, the price of a building has more than doubled, and the Golden Gate Building has become synonymous with the prosperity of Hong Kong real estate.

It's just that this transaction is actually still a left-handed to right-handed, and Chen Songqing used fake news and capital accumulation in the stock market to make a fortune from it.

This is his normal way of doing things, raising money from the stock market or borrowing from banks and various financial institutions, and then using this money to buy a property, although the interest rate of the loan is very high, but when the real estate market is developing well, the price of housing rises much faster than the interest increase.

Housing prices have been rising, so Chen Songqing has more and more real assets in his hands, as long as it exceeds the loan, then all the previous bad records can be completely flattened, and Jianing can also get rid of the current way of lending and supporting loans, so as to truly become a normal company.

From 1978 to the beginning of 1982, housing prices in many areas of Xiangjiang rose 2-3 times, counting the leverage effect of real estate, the profits of real estate companies were higher, Jianing could actually get out of the whirlpool of fraud a long time ago, but greed is the only nemesis of victory, as long as you wait, wait, etc., the profits will be higher.

In the end, what we waited for was the collapse of land prices, the collapse of the stock market, and the depletion of the company's liquidity but still in debt.