This year, shareholders were very hurt and hurt, and it was Qionghai's real estate that was also hurt.

In June, the state promulgated the "Opinions on the Current Economic Situation and Strengthening Macroeconomic Regulation and Control", which included 16 rectification measures, including strictly controlling the total scale of credit, raising interest rates on deposits and loans and treasury bonds, recovering illegal loans within a time limit, reducing infrastructure investment, and cleaning up all projects under construction. The bank was fully tightened, and the Qionghai real estate fever, which had been soaring all the way, was suddenly drawn from the bottom of the kettle.

On the island, which has a total number of only 6.55 million people, in just two or three years, more than 20,000 real estate companies have appeared. In just three years, house prices have increased more than 4 times. The last legacy is more than 600 "unfinished buildings", 18,834 hectares of idle land and 80 billion yuan of backlog, and the bad debts of the four major state-owned commercial banks alone are as high as 30 billion yuan.

Developers fled or collapsed, and banks suddenly became the largest developers, with many banks having non-performing loan ratios of more than 60%. When banks began to dispose of non-performing assets, they found that many mortgage projects had actually dug a big hole, and the mortgaged real estate at sky-high prices was nothing more than a "castle in the sky".

On average, there is a real estate company for every 80 people, and these companies are certainly not all here to build houses. In fact, most people are playing an old game of "drumming and passing flowers", and they are passing on the land in their hands.

At that time, it was rumored that "if you want to make money, go to Qionghai; If you want to make a fortune, fry pre-sale properties".

The land price soared from more than 100,000 yuan/mu in 1991 to more than 6 million yuan/mu;

In the same year, the provincial capital's economic growth rate reached a staggering 83 percent. Another hot spot, Sanya, also reached 73.6 percent, and 40 percent of the province's fiscal revenue came from the real estate sector.

Selling land is making money!

In this unprecedented gamble, the government, banks, and developers have formed a tight iron triangle. Among them, the bank not only acts as the drummer and blood transfusion machine of the game, but also can't help but make a cameo role as a player.

During the period when the bubble was formed, led by the four major commercial banks, bank funds, state-owned enterprises, township enterprises and private enterprises continued to pour into Qionghai through various channels, with a total of no less than 100 billion yuan.

Almost all developers have become debtors to banks. Savvy developers have put the money they make from reselling land or off-the-plan properties into their own pockets, and mortgage their houses to banks at high prices that are still on the drawing papers.

Eventually, with the collapse of the Qionghai Development Bank, the bank became the largest developer in Qionghai.

A well-known real estate developer in later generations. In this big gamble. earned the first pot of gold in his life, but more of them were unlucky, with heavy losses and no return. Vowed not to touch real estate again.

After the bubble bursts. Sun Youcheng specially called. Aside from being grateful, that is to say that real estate is terrible, especially after the bubble bursts. He saw people jumping off the building with his own eyes, and the people were not in front of him, and he was so scared that he had nightmares for several nights in a row, and vowed to touch this thing again, which was really ...... In his words: I still honestly make feed, agricultural and sideline products business is good!

"Hehe......" Fang Menan shook his head and smiled.

The same scene also happened to Ni Baohong and Liuzi, Ni Baohong and the two of them withdrew from Qionghai at the beginning of this year, and now they are really in a cold sweat in retrospect.

If they didn't need funds, they wouldn't be in a hurry to cash out, and now they are glad that some of the people they know have lost a mess, and even hurt their muscles and bones, and even affected their families.

**********

Compared with the domestic stock market, how to fall the word.

Internationally, after half a year of recuperation of international capital, the war in Europe has resumed.

In July, international capital attacked again, and the battle for the defense of the franc entered the final stage of the tragedy. On 28 July, the Bundesbank cut interest rates again, but the market did not react much because the rate cut was too small. From July 22 to 29, in just one week, the Banque de France bought more than 100 billion francs, and its foreign exchange reserves fell to minus 2.8 billion francs. By this time, the German Bundesbank had already lent nearly 200 billion French francs to the members of the European monetary system.

Since then, countries have spent huge amounts of foreign exchange reserves, exhausted all means, and returned to square one at great cost.

On August 3, the finance ministers and central bank governors of the 12 EU countries reached an agreement in Brussels: on the basis of the central exchange rate, the floating range of the six currencies of the French franc, the Belgian franc, the Danish krone, the Spanish peseta, the Portuguese escudo, and the Irish pound will be expanded to 15% above and below, and the three currencies of the German mark, the Dutch guilder, and the Luxembourg franc will maintain a floating range of 2.5% each above and below. The Joint Floating Exchange Rate System has effectively collapsed in favor of a managed floating exchange rate regime.

Since then, the French franc and other European currencies have fallen sharply against the German mark, the US dollar and other currencies, and international capital has made a lot of money.

Of course, Diao Rong and Allen are indispensable, they make a lot of money, and Cheng Shigui, Yang Fan and Wu Zhihong, their main targets are dwarfs.

The newly-born Huaxia Investment, in the treacherous international financial market, secretly went out and quietly entered the village, and did not want to shoot guns. In order not to be more realistic, of course, it is necessary to be more hidden, last year's money was pitiful, and in the foreign exchange market, where the daily trading volume is as high as one trillion, their little money is simply not enough for people to see.

And with the harvest is quite abundant, the expansion of funds will have to lurk down and scatter attacks.

Attacking other countries' currency markets is better than private equity funds!

It's like the U.S. government standing behind Quantum, Tiger Fund, even though the world knows it, but can't blame anything? On the surface, people have no relationship at all, and it is purely a commercial behavior.

After all, this face whitewash still has to be done, it's a matter of face!

When the national strength is not strong, it is better to make a fortune quietly!

Since then, the currency of Europe has been swept away by international capital, and only the unique Deutsche Mark remains.

The profit of international capital did not mean that the war was over, because in the previous battles there was a massive influx of international capital into Germany, and although they had already made profits in other European countries, the money that poured into Germany had not yet had time to be withdrawn. The cost of entering Germany for these speculative funds is also high, and a considerable amount of them came in the appreciation of the Deutsche Mark. At this time, they have achieved their goal of pushing up the value of the mark, and they will inevitably have to exchange for other currencies such as the dollar to flee Germany. Therefore, for Germany, taking advantage of the fact that international capital has not yet withdrawn, it immediately took the initiative to depreciate and encircle these foreign capitals.

So international capital is not without flaws and invincible. Soros is well aware of this. He believes that the fixed exchange rate system within Europe has ended, and there is no need for Germany to spare money in order to maintain the exchange rate of the mark, and the German mark should be immediately devalued in order to encircle speculative capital.

In June, Soros asserted that the Deutsche Mark would depreciate, and wrote a letter to publish his prediction of the imminent devaluation of the Mark in the British newspaper The Times. After the defeat of the Bank of England, Soros became too famous. As soon as his views were published, the market reacted quickly, and the Deutsche Mark fell from 80 cents on June 11 to 59 cents on June 25, and the Quantum Fund made a profit of about $400 million. One article earned him $400 million, Soros decided to launch a bigger operation, and after a franc sniper, international capital also needed to rest and fight again in the future.

**********

"Jingle bell ......" The phone in the study rang, and Fang Monan, who was about to close the door and leave to 'sleep', glanced at the wall clock on the wall, showing eight o'clock.

Fang Monan took two quick steps and picked up the earpiece, "Hey! Hello, I'm Fang Menan. ”

“hello！ Dr. Fang! I'm Joseph! ”

"Poof...... When did you learn Chinese! Fang Monan turned on the lamp, walked around the desk, and sat on the circle chair.

"It's not too good! Not as fluent as Hughes said. A shy smile flashed across Joseph's lips.

"Theseus? ......" Fang Menan slapped his forehead, almost forgetting that they were all in the pop music industry, and he was still the king of rock and roll.

However, Joseph and Hughes have different singing styles, so there won't be much conflict! Hearing him call Xiusi like this, Fang Menan thought so!

"No, that's a good point!" Fang Monan shook his head and smiled, but she was very surprised and strange how she could receive a call from him, she was in a hurry when she left, and her contact information was obtained by a friend through her aunt.

As if he knew what Fang Menan was thinking, Joseph said, "It was Hughes who told me the contact information, Doctor Fang, 'doll' to be exact. ”

"I'm going to the Three Treasures Hall for nothing!" Joseph laughed, "I'm not wrong! ”

As soon as he heard the word doll, Fang Monan wondered what he was doing? Could it be......

Sure enough, she thought of the invitation song! Then I heard, "You wrote a song for Hughes, you can't favor one over the other!" Joseph said.

The idioms of favoritism have come out, "OK!" Now that you know everything, you should know that I'm only a lyricist, and I don't know anything about composing! She then added, "No." ”

"Sister! I knew you would say that. A crisp and sweet voice suddenly appeared on the phone.

"Mobei!" Fang Menan stood up in shock, "Why are you all together." ”

"Huh...... Finally scares you! Mo Bei smiled heartlessly.

"And me!" The voice of Xiu Sidi also appeared on the phone.

It's all right!

Fang Monan sat back, with a smile in his eyebrows, the spring flowers of the smile were blooming, the spring breeze was blowing, and he said resignedly, "Bring the tune." "It's so far away that it takes some time to mail it.

"Hey, hey! The three of you are really prepared! Fang Monan shook his head and smiled, and heard a melodious and euphemistic melody on the phone. That's fine, too! Isn't that embarrassing for me! ”

Although the music on the phone was changed and distorted, the melody was probably heard clearly and understandably by Fang Monan.

"The melody is slow!" Fang Menan raised his eyebrows and said, "Is it suitable for Joseph to sing?" ”

He is the king of rock 'n' roll, simple, powerful, straightforward, with a strong rhythm of rock music, which is clearly different from his genre. (To be continued......)

PS: Ask for pink, ask for recommendation