Nobody knows about Eric. Root. Why did Artez suddenly go crazy and report his company, for a person who earns hundreds of thousands of dollars a year, it is all too rare for a conscience to find such a thing. Pen & Fun & Pavilion www.biquge.info And one of the biggest doubts about the whole thing is that it has been six or seven years since the matter reported by Eric, why is it only reported now?

It is widely believed in the industry that there is a conspiracy behind this incident. But in an interview with the New York Times, Eric didn't admit that he had any other purpose, but repeatedly emphasized that he couldn't stand the torment of his conscience. As for whether others believe it, Eric said with his hands spread out that there is nothing he can do about it.

Zhong Shi, the mastermind behind this incident, was in Yanjing at this time, attending a very high-level seminar, and the person presiding over this meeting was the highest person in charge of the entire Chinese economy.

The theme of this economic discussion is "further reform", and the specific topics include real estate, iron and steel, foreign trade and exports, finance, import free trade zones, tax reform, cultural industries and many other aspects, involving all aspects of the country's economic life. Before Zhong Shi and the others came to Yanjing, the entire meeting had lasted for a month.

Among the people who came with Zhong Shi this time, in addition to Li Xiaojia, chairman of the Hong Kong Stock Exchange, there were also a large number of well-known high-ranking officials, such as the secretary of the Hong Kong Monetary Authority, the chairman of the Hong Kong Securities Authority, and the director of the Hong Kong Foreign Exchange Administration. In addition to the chairman of the Huaxia Suhai Stock Exchange, a series of senior officials such as the China Securities Regulatory Commission, the Central Bank, and the Minister of Finance also attended the meeting.

Zhong Shi, as a civilian, was also invited to attend this meeting. Of course, no one objected to this decision, because this decision came from the highest level, and naturally there was some justification.

In fact, as Zhong Shi, who participated in the three major crises of Hong Kong's 98 financial crisis, the subprime mortgage crisis in the United States and the European debt crisis, not only stood tall but also made a lot of profits like crazy, this achievement definitely makes him qualified to sit in front of everyone.

However, for Zhong Shi, it is unlikely that he will participate in the problem of system construction. The main reason why he was brought in was to let him design the system from the perspective of a speculator, to see if there were any flaws and loopholes in it. If these things are used by people with ulterior motives, then the whole reform will lose its original purpose.

"On the issue of exchange rates, due to the daily fluctuations in the exchange rate of the Hong Kong dollar and the renminbi, I personally think that the establishment of a settlement fund between the two traders is dedicated to the settlement of the positions of both parties on the trading day, which not only facilitates the transaction between the two parties, but also saves them the cost of exchanging foreign currency."

In this conference room, which can accommodate more than 30 people, senior financial officials from China, including Hong Kong, gathered to further discuss the contents of the exchange between the Hong Kong stock market and the Suhai stock market.

From time to time, there are soldiers with loaded guns walking by outside the window, and the security here is very tight, so it can be said that it has reached the point where the needle cannot be inserted and the water cannot be leaked, after all, the identity of everyone here has reached the point of importance. The actions of any one of them are enough to shake the capital markets of the two places.

"Regarding this settlement fund, it can be operated by a commercial bank, or by the Hong Kong Monetary Authority or the Central Bank of Foreign Exchange, or even by several commercial banks to jointly fund the establishment of a new fund to operate, and the specific method and subsequent benefit distribution need to be further discussed."

Li Xiaojia continued, "Of course, the existing exchange conditions are not impossible. But what I'm afraid of is that if the earnings do not meet the expectations of capital, that is, they cannot exceed the cost of foreign exchange, then it will cause some positive damage to the Suhai market or the Hong Kong market. ”

As the president of the Hong Kong Stock Exchange, Li Xiaojia has a positive and favorable attitude on the issue of interconnection between the Suhai Exchange and the Hong Kong Stock Exchange. In fact, since he came to power, the Hong Kong Stock Exchange has seen an unprecedented boom, and this year alone, the funds raised from the Hong Kong Stock Exchange have surpassed those raised by the New York Stock Exchange to become the world's number one exchange.

The ambitious Li Xiaojia is negotiating on the London Metal Exchange in an attempt to swallow up the other party's commodity trading business, and in the future develop the Hong Kong Stock Exchange into a heavyweight exchange involving global commodity trading in addition to stocks and derivatives.

The prime minister, who graduated from a doctorate in economics, nodded subconsciously, and then wrote hard in his notebook, quickly recording Li Xiaojia's views.

"Questions about Regulation......

The chairman of the Hong Kong Securities Regulatory Commission pondered for a moment and said, "Whether in Hong Kong or the mainland, criminal acts involving the securities industry are criminal offenses. I'm not worried about penalties, but at the moment both sides have jurisdiction. Let me give you an example, if a mainland capital commits illegal acts in the Hong Kong capital market, and its legal entity is in the mainland, we do not have the right to investigate, but can only request an investigation by sending a letter of assistance, so does this reduce the cost of crime and encourage them to manipulate the market in disguise? ”

"I have discussed this issue with our judiciary."

After hearing this, the prime minister nodded silently, "Indeed, there is a question of jurisdiction between the two sides. My personal opinion is that for capital that wants to enter the Hong Kong market, they need their brokerage to obtain a license to operate in the Hong Kong capital market. If something goes wrong, the first person responsible will be their broker or legal entity. The most important thing is that the credit lists of both sides can be exchanged, and if there is a suspicion of crime and they avoid it, then the capital market of the country will follow up until they respond. ”

"Of course, what I've said above isn't perfect."

The Prime Minister had a headache at the thought of this problem, and even he had difficulty solving it completely, "This is just my personal preliminary suggestion." The specifics of this will require further discussions between the judicial authorities of both sides, and I will continue to focus on the issue of combating crime. It can be said that this issue has a bearing on the success or failure of the capital markets of the two places, and neither Hong Kong nor the mainland can take this lightly. It is not until there is a mutually satisfactory outcome on this issue that our capital market interconnection can be truly implemented. ”

Although he expressed his determination, because there are still many unresolved issues on the judicial issue, the Prime Minister can only talk about it in general terms, and the rest of the issues will have to be resolved by legal experts on both sides.

After receiving the Prime Minister's promise, the frowning chairman of the Hong Kong Securities Commission nodded silently and said no more.

"Any other questions?"

The meeting lasted all day, and everyone in the room was dizzy, and although they were very tired, there was an extraordinary sense of accomplishment as the problems were discussed or solved one after another.

However, after half a day, no new agenda was raised, and the prime minister duly threw out such a sentence, ready to conclude the long meeting with two more sentences.

"Funds flee!"

At this time, Zhong Shi, who had not spoken, raised his arm and said with a stern face, "There is a very important issue, that is, some interest groups may transfer large amounts of funds through stock market interconnection to achieve the purpose of money laundering, which has to be guarded against." ”

"Hehe, I thought you couldn't speak!"

Seeing that Zhong Shi finally couldn't hold back his mouth, the prime minister smiled and touched the tip of his nose, pointed at Zhong Shi and said, "Our expert has finally spoken." ”

Seeing the prime minister make this move, many people also laughed.

Although they were laughing, they were very emotional in their hearts, because from beginning to end, the prime minister had a serious face when facing them, with a businesslike attitude, and there was no emotion at all. But when facing Zhong Shi, the prime minister was completely relaxed, which made them have to weigh the relationship between the two sides in their hearts.

"Based on my judgment, I hope you don't sit in the right seats."

Zhong Shi stood up and said solemnly, "After thinking about it, I found that there are loopholes in the plan proposed by President Li Xiaojia. ”

"It is certainly a good thing to exchange the funds of both sides in the form of a settlement fund, but there is a very obvious loophole, that is, the funds settled into Hong Kong dollars through RMB can flow freely, which theoretically constitutes the possibility of capital flight. Because Hong Kong is a ******, as long as the funds are converted into Hong Kong dollars through corresponding means, they can be moved out of the country openly, and the whole process does not even violate the law. ”

"If it were me, I would put a large amount of money into the Hong Kong stock market in the name of investment, and then transfer it through the penny stock market, it would be possible for this stock to plummet by 90% in one day. In this case, I was able to easily transfer the vast majority of my property with a little collusion with the outside dealers. Judging from the whole thing, I have no problem with the settlement of funds, Hong Kong stocks, etc., and there is no sign of illegal inquiry at all. But this is not essentially an investment, but money laundering. ”

Hearing Zhong Shi's words, everyone fell into deep thought, even the prime minister.

Indeed, according to Zhong Shi's thinking, the whole thing can basically be done flawlessly, and even not illegal at all. It looks like an investment failure, but in fact the funds have been transferred long ago.

"And what do you think can be done to stop this?"

The Prime Minister put away his smile, nodded heavily, and asked, "Or how do you think this situation should be contained?" ”

"Limit!"

Zhong Shi reluctantly said, "The establishment of a daily cap, the strengthening of the access system for capital entry on both sides, and the severe crackdown on the manipulation of the stock market cannot prevent the situation from happening." Personally, I think the best thing to do is to impose strict foreign exchange controls on the institutions and banks involved in the stock market to ensure that these funds are invested in the market and not simply laundered. As for the specific amount, I think it will require further negotiation between the two sides. ”

Both the people in Hong Kong and the high-ranking officials on the mainland have a headache over this issue. The reason why they didn't bring it up was because they couldn't think of a good solution. When it comes to quotas, for example, some people must have thought of it, but no one said it because it was contrary to the spirit of reform. But now that Zhong Shi said it, many of them were relieved.

"The other is the issue of the settlement fund, if the limit is implemented, there is no need to set up such a fund at all."

Zhong Shi continued, "The participation of certain banks that do not have operations on the mainland will only lead to the intensification of money laundering activities. Personally, I suggest that the settlement bank be positioned as a bank under the joint supervision of the Central Bank of China and the Hong Kong Monetary Authority, so as to incorporate the trend of foreign exchange into the entire foreign exchange management system and reduce the losses caused by capital flight as much as possible. ”

"I will seriously consider your opinion!"

After taking a deep look at everyone present, the prime minister said, "This issue should not be careless, and this issue should be taken seriously from the same level as the judicial issue mentioned earlier." Our reform measures must not be used as a tool by some people. ”

He tapped lightly on the table, not very loudly, but it struck the hearts of some people like a morning bell. (To be continued.) )