Chapter 328: Jiahua Bank's Big Drama
"The Federation of Hong Kong Industries held a special meeting yesterday to discuss the impact of the current severe situation on Hong Kong's industries. After the meeting, Mr. Han Peng, the new chairman of FHKI, called on all Hong Kong citizens to exercise restraint and calm in an interview with our reporter. At the same time, he also said that on behalf of all members of the Federation of Hong Kong Industries, he would go to the Governor's Palace to present his case to Governor Youde in person.
Chairman Han said that the recent sharp fluctuations in the exchange rate have severely affected the normal import and export trade order of Hong Kong, and also dealt a huge blow to Hong Kong's industry. FHKI hopes that the Hong Kong government will take strong measures to maintain the stability of the Hong Kong dollar exchange rate and provide a guarantee for the healthy development of Hong Kong's industry.
In addition, according to the latest news received by this station, Mr. Li Xuan, the founder of Dongfang Electronics, who has just been the richest man in the world, arrived in Hong Kong urgently on his own private plane at noon. And in the evening, after returning to Hong Kong for less than half a day, 'God of Wealth Lee' drove to the Governor's Mansion at Albert Road in Central!"
This was reported in the program of Asia Television's "Evening News".
Li Xuan did have dinner with His Excellency Governor Youde that night. In the exchange after the dinner, Li Xuan also euphemistically expressed his and the Eastern Bloc's concerns about the chaotic situation facing Hong Kong. Governor Youde also told Li Xuan that the Hong Kong government is "actively formulating" a new monetary stability plan to ensure that Hong Kong's financial order is restored to the best possible extent and to restore the capital market's confidence in the Hong Kong dollar.
Downing Street was originally trying to incite Hong Kong's economic crisis and sent a jade-burning posture to force the Chinese mainland government to make concessions on the Hong Kong issue. However, I did not expect that Beijing was not moved at all, but that public opinion strongly condemned the irresponsible behavior of the British side.
And the British government really does not dare to allow Hong Kong's economy to really collapse, because Hong Kong is still under British rule. If there is a real economic crisis in Hong Kong. Not only will the British government face a huge loss in its international image, but British capital will also suffer huge losses when investing in Hong Kong.
So the Hong Kong dollar fell sharply to 9.6 to 1 dollar. Youde, the governor of Hong Kong, is also under tremendous pressure. Once the exchange rate falls below the important psychological threshold of US$10, the market's confidence in the Hong Kong dollar may indeed collapse completely. At that time, it is likely that the Hong Kong dollar will really be reduced to waste paper.
"As a Hong Kong enterprise in charge, the Oriental Group is willing to contribute within the framework of the Hong Kong government's rescue plan!" this is the promise Li Xuan made to Youde that night.
This promise was translated into an announcement in the newspapers of Hong Kong early the next morning. Mr. Li Xuan, the majority shareholder of Carnival Bank, deposited US$100 million in his personal name with Carnival Bank. From now on, Jiahua Bank will allow depositors to deposit their deposits in Jiahua's accounts into foreign currency accounts in the amount of U.S. dollars. Mr. Li Xuan also said that he can deposit additional US dollars at any time if needed, up to a maximum of US$1 billion.
US$1 billion could be converted into HK$9.5 billion at yesterday's exchange rate. Li Xuan was almost telling the depositors of Jiahua. You don't have to worry. If you don't have confidence in the Hong Kong dollar, I can bet with you and eat all the Hong Kong dollars you have deposited in Jiahua Bank.
Li Xuan felt that someone was tickling him, so he opened his hazy eyes from his sleep, and what greeted him was a delicate jade face like a flower. Guan Zhilin was half-lying on top of him, holding a wisp of green silk in her hand, and gently rubbing it on his face mischievously.
Li Xuan likes long hair, whether it is Zhong Chuhong, Li Zhi, or Guan Zhilin. He especially likes to play with their jet-black hair in private. But at this moment, Li Xuan didn't have much interest in the curly hair fragrance, he wanted to swallow the lovely person in front of him directly.
So Li Xuan turned over lightly and pressed Guan Zhilin under him. His big hands had gently lifted the silk nightdress on the beauty's body. The nightdress worn by Guan Zhilin was quickly lifted to her waist. A dark clump of sedge below the navel is exposed.
And she also twisted her body very cooperatively, so that Li Xuan completely removed the only thin cover she was wearing and threw it at the head of the bed in three or two clicks.
Guan Zhilin is like a beautiful snake. Take the initiative to hook your legs around the man's waist and open the pink arms that are hidden in front of your chest. Wrap around the back of Li Xuan's neck. On the pair of towering jade mounds on his chest, two cherry blossom buds were sincerely displayed in front of Li Xuan's eyes. Li Xuan couldn't help but blood gushing. In the shyness of the beautiful woman, she began to gallop freely on this slippery ketone body.
After a period of cloud-shaking rain, Guan Zhilin's snow-white skin like mutton fat still had a bit of blush after happiness. Li Xuan leaned comfortably on the head of the bed, held Guan Zhilin in his arms, and kept playing with the pair of swaying pepper-breasts on her chest with both hands, savoring the afterglow of the high-tide aftertaste.
When they were in the United States before, Li Xuan and Zhong Chuhong took care of the child in their wombs, and they were very careful every time they were happy. But Li Xuan's biological age is only twenty-three years old, which is the time when he is the most strong, and the days when he doesn't know the taste of meat are extremely hard.
In fact, last night, Li Xuan had already released Guan Zhilin, a stunner, twice, but when he woke up early this morning, he still did a morning exercise in spirit.
After Li Xuan came out of Gentle Township, he did not go to the headquarters of the Oriental Group, but went to the head office of Jiahua Bank in Central. His emergency return this time was ostensibly due to the turbulent situation in Hong Kong, and he deliberately came back at this critical moment to stabilize the morale of the army. In order to express his worries about the current situation in Hong Kong, he made a special trip to the Governor's Palace yesterday.
But in fact, these are superficial work, and the root cause of the current situation in Hong Kong is, to put it bluntly, China and Britain are fighting the law. Li Xuan does not think that he has the ability to influence the political wrestling between the two great powers.
Previously, Han Peng, as the chairman of the Federation of Hong Kong Industries, convened an emergency meeting of all directors. And on the day after Li Xuan returned to Hong Kong, he went to the Governor's Palace to meet His Excellency the Governor. In fact, this series of actions is to win the hearts of the people and establish a responsible and socially responsible corporate image for Dongfang Electronics Company.
In fact, Li Xuan had foreseen the Hong Kong dollar crisis, and the entire Eastern Bloc had begun to prepare for it a few months ago. Before the crisis was revealed, the companies in the Eastern Bloc had already converted all cash into dollar assets in advance, except for a small amount of liquidity.
And in the past few days. The exchange rate of the Hong Kong dollar against the US dollar fell rapidly from 1 to 7.6 to 1 to 9.6 in an avalanche. After the Hong Kong dollar exchange rate broke 9. The Eastern Bloc began to secretly sell off the dollars it had previously purchased. Especially on September 24, when the exchange rate of the Hong Kong dollar fell to the lowest point of 1 to 9.6 yuan. The Eastern Group quietly sold $800 million in cash in a single day.
But in the frenzied rush of the entire market to buy dollars, the dollars thrown by the Eastern Bloc did not make many waves at all. Han Peng can also be regarded as a figure who has experienced all kinds of storms, but in the face of the Hong Kong financial market's crazy bearish Hong Kong dollar market, he can't help but feel a little worried.
You must know that in order to make a profit from the Hong Kong dollar crisis this time, Li Xuan almost suppressed the cash flow of the entire Oriental Group. In the event of a real collapse of the Hong Kong dollar, the Eastern Bloc will inevitably be hit hard. Han Peng felt worried, so he called Li Xuan, who was far away in New York.
And Li Xuan also made a quick decision and flew back to Hong Kong immediately. As a born-again person, he naturally knows it clearly. The Hong Kong government cannot allow Hong Kong's economy to collapse, and the linked exchange rate system will soon be introduced. For the next 30 years, the exchange rate of the Hong Kong dollar will be pegged to 7.8 to 1 US dollar.
Before Li Xuan arrived in Hong Kong, the Oriental Group had allocated a total of $1.5 billion for foreign exchange speculation. This even includes $500 million in credit payments from HSBC and Standard Chartered in the name of short-term borrowings.
The average selling price of the $1.5 billion was around HK$9.2. In other words, when the exchange rate of the Hong Kong dollar against the US dollar is fixed by the Hong Kong government at 7.8 to 1 next month, Li Xuan will receive a gross profit of about 270 million US dollars.
With such a windfall, the financial pressure on the acquisition of RCA by the Eastern Group will be much less. More importantly, Li Xuan's action is to be bullish on the Hong Kong dollar, which is just the opposite of the speculators who are generally bearish on the Hong Kong dollar in the exchange rate market. Li Xuan's actions represent his support for the Hong Kong dollar and Hong Kong. Even if it is exposed by the media in the future, there is no need to bear any moral pressure.
On the contrary, Li Xuan can say that if it were not for his billions of dollars in secret, perhaps the exchange rate of the Hong Kong dollar would have fallen to 9.6 to 1 on September 24. Instead, it may break 10 directly.
Li Xuan didn't wake up late this morning, but he worked Guan Zhilin, a stunner, and then got tired of the beauty for a while. Wait for Li Xuan to finish taking a bath. After eating the love breakfast carefully made by the beautiful woman, when I set off from Guan Zhilin's boudoir. It was almost ten o'clock.
"How is the situation at the various branches? I passed by the Central District Branch when I was in the car just now, and the bank gate there was already crowded with people!" Li Xuan walked into Yang Lingjun's office. I couldn't wait to ask with a smile.
"The situation in each branch is similar to what we expected, although they are all overcrowded, but the order is quite orderly! We have also informed the Hong Kong Police Force in advance, and there are police officers in each branch to help guide order!"
Yang Lingjun explained with a smile, a confident smile on his face. He was originally talking to Han Peng, but when he saw Li Xuan walk in, both of them immediately stood up to greet him.
"You two should sit down too, it seems that everything is under control!" Li Xuan said with satisfaction.
Like other subsidiaries of the Oriental Group, Jiahua Bank foresaw the Hong Kong dollar crisis early on. Therefore, under the command of Yang Lingjun, the president, Jiahua Bank bought a large amount of US dollars in advance under various pretexts. In the past two days, when banks in Hong Kong have almost sold out of US dollars, Jiahua Bank is still able to provide its depositors with limited US dollar to huàn business.
This has greatly established the credibility of Jiahua Bank among the people of Hong Kong. In fact, the dollars held by Jiahua Bank are far from being exhausted, and Yang Lingjun has specially prepared a big drama in order to maximize the effect of these dollars. And Li Xuan is the guest celebrity who was invited by Yang Lingjun to help create momentum in this big play.
In the first scene of the big play, Li Xuan, as the boss of Jiahua Bank, announced that he would deposit $100 million in deposits with his bank. Funding and saving money are two different concepts, the former is converted into the bank's equity capital, which cannot be recovered for a while. The latter is lent to the bank, and Li Xuan can get it back at any time. All the surplus money of the Oriental Group had to be kept to acquire RCA later, and he naturally did not have extra spare money to inject capital into Jiahua Bank.
And Jiahua Bank is now operating healthily and does not need to inject capital from shareholders at all. Even Jiahua's dollar reserves are very sufficient, and what it really needs is this gold-lettered signboard of "God of Wealth Lee". How rich is "God of Wealth Lee"? Not long ago, a Hong Kong newspaper devoted a great deal of space to once again popularizing science to the entire Hong Kong public. The second year in a row that the world's richest man has total assets of $10 billion.
Therefore, taking out 100 million US dollars is just a small case for "God of Wealth Lee". Even if he takes out $1 billion, it is only one-tenth of the total assets, and there is no need for Li Xuan to break his muscles and bones at all. Therefore, everyone will not doubt the validity of Li Xuan's promise.
Li Xuan did transfer $100 million to Jiahua Bank's account yesterday, but Jiahua Bank's commitment to a maximum deposit of $1 billion in major newspaper announcements this morning is simply an empty word. All the cash of the Oriental Group has already been used by Li Xuan to speculate in foreign exchange.
"At just ten o'clock, the presidents of each branch reported the latest numbers. These figures have been summarized and shown that since we opened at 8 o'clock this morning, we have sold a total of 62.37 million US dollars in foreign currency, of which 21.12 million are new foreign currency deposits!" Yang Lingjun briefly reported.
For today's action, Jiahua Bank deliberately opened an hour earlier. Depending on the number of customers at the bank's counter, Jiahua Bank may also close late in the afternoon.
Of course, it is certainly impossible for Jiahua Bank to allow its depositors to really withdraw the money deposited in Zài Bank, so there are prerequisites for exchanging US dollars from Jiahua Bank. Firstly, it must be the funds deposited by the depositors of Jiahua Bank in Zài Bank, and secondly, these funds need to be deposited in the depositor's foreign currency account with Jiahua Bank.
In this way, Jiahua Bank is actually just converting depositors' money from Hong Kong dollars to US dollars at the current exchange rate. However, Grandhua Bank actually bought a large amount of US dollars in advance long before the Hong Kong dollar exchange rate fell. In the back and forth, Jiahua Bank earned a large amount of exchange rate differentials.
In addition, many depositors have abandoned their original fixed deposits in order to preserve their value in foreign currency, and have instead deposited them in newly opened foreign currency accounts. Among them, the interest rate difference between regular conversion and current account, as well as the management fee income from opening foreign currency accounts, allowed Jiahua Bank to make a small profit. (To be continued......)