At first, Li Xuan couldn't understand why the Zhili Textile Bank took out 500,000 taels of silver to invest in Dingsheng Shipyard.

With the current situation of the Dingsheng shipyard, even if the operation is smooth, but the fixed assets and future profits are there, it will take a long time for 500,000 taels of silver to recover the cost.

What's more, now the shipbuilding industry seems to be prosperous, but the competition is also great, so many shipyards have sprung up like mushrooms after a rain, competing for orders with each other, and finally it is inevitable that the market will have price competition.

Today, the shipbuilding industry of the Tang Dynasty, the average price per ton has dropped by at least more than 10% compared with the five years of Xuanping, which is of course due to technological progress, increased production efficiency and reduced costs, but more because of competition with each other.

This also means that in the future, it is very likely that the Dingsheng shipyard will be difficult to maintain the existing profit scale, so for the Zhili Textile Bank, it is possible that it will not be able to recover the cost for 50 years.

So at that time, Li Xuan asked: "How are they going to recover the cost?" ”

But what I didn't expect was that the people in the Royal Assets Department said that the Zhili Textile Bank did not intend to recover its costs through dividends at all, and they were ready to split the 10% of the shares and then sell them to other small investment institutions and even individuals.

However, the officials of the Royal Assets Division believe that this will make the shareholding structure of Dingsheng Textile Company very troublesome, although some of the assets managed by the Royal Assets Division are also joint ventures with others, such as cooperation with enterprises under the Ministry of State-owned Enterprises, and some are cooperation with private companies and even individuals, but this cooperation is basically limited to a scope.

But now the Zhili Textile Company is planning to split and sell 10 percent of the shares obtained from the investment, so that the number of shareholders of the Dingsheng shipyard may even reach dozens or even hundreds.

The Royal Assets Section has great doubts about this kind of thing, for fear of causing some trouble, but the Zhili Textile Bank has taken out 500,000 taels of silver with real money, and if you don't take it, you feel that it will be too much of a loss, so this is the report to Li Xuan, and I respectfully ask for the Holy Judge!

When Li Xuan heard what the people from the Royal Assets Department said, he vaguely guessed something, and then asked them to show him the detailed plan of the Zhili Textile Company, and at the same time, the cooperation plan between the two sides was shown to him personally.

In the end, Li Xuan determined that this Zhili Textile Bank was not to invest in any shipbuilding industry at all, and it was not even a simple vote, because it had already been mentioned in the business investigation report of the Royal Assets Section that the bank had done similar things more than a dozen times before, all of which were to buy some of the company's shares first, and then sell them at a higher price to small investors and individuals who only had money in their hands, but had no channels to directly invest in various enterprises, so as to make a profit.

At the same time, in order to make it more convenient for small and medium-sized investors to trade on their own, they have also set up a service-type company to provide small and medium-sized investors with special stock trading, and charge fees in the transaction process.

It's just that in the past, they operated some private enterprises, and the estimate was not too big, and at the same time, it was basically only circulated in a small circle of institutional investors, and the outside world didn't know much, but now this time, they decided to play a big vote.

This is enough to directly alarm the Holy Son Li Xuan!

After seeing these reports, Li Xuan didn't know that this Zhili Textile Bank, they were not here to invest in any company at all, they were trying to build a stock exchange!

The drunkards don't mean to drink, by investing in stocks and then spinning them off, this is just the surface, I'm afraid their core purpose is to create a stock exchange.

Damn, who is the person in charge of this bank, this ambition is big enough, he is in the forefront of many people, and even set up a stock exchange in front of Li Xuan.

You must know that Li Xuan has plans to establish a stock trading system, but he thought that now is not the time, and he is ready to wait until there is an appropriate time before withdrawing from stock trading.

But I didn't expect that if he didn't do it himself, someone else would do it!

Regarding this matter, Li Xuan did not make a decision immediately, but asked the Royal Assets Department to conduct an in-depth investigation to see if there are similar banks or other institutions in China that are engaged in stock trading.

At the same time, it also allows them to conduct an in-depth investigation of the prosperity of the shipbuilding industry in the country.

As an institution that manages a large amount of royal assets, the Imperial Assets Division seems to be only a department under the Hallym Academy, but in fact it is the same as the Survey and Statistics Division of the Hallym Academy.

However, Li Xuan was still not at ease, in addition to letting the Royal Assets Section investigate, Li Xuan also began to summon the person in charge of the Royal Bank to listen to some of the recent capital flows of the Royal Bank, especially in terms of commercial loans.

In addition, Li Xuan also personally instructed the Financial Department of the Ministry of Taxation to submit relevant reports on the domestic financial industry in the near future, with a focus on commercial loans.

Li Xuan keenly feels that the development of some domestic industries seems to be prosperous, but there is already a hidden crisis!

What a crisis, naturally, is an economic crisis!

Almost after seeing that the market value of each shipyard was constantly speculated, and ten percent of the shares of the Dingsheng shipyard could be sold for 500,000 taels of silver, Li Xuan's first reaction was to think of the economic crisis and bubble.

When the market price of a product far exceeds its actual value, there is no doubt that there will be a bubble here, and once the bubble is burst, the economic crisis will appear.

The industry and commerce of the Tang Dynasty have only been developing for a few years, and this kind of thing has happened, which makes Li Xuan quite a headache!

But he also knew that after the development of industry and commerce, this kind of thing would inevitably appear, and the reason why it appeared so quickly now was because the various policies within the Tang Dynasty were still not perfect.

For example, there is no legal, formal stock exchange, and these stock transactions are the spontaneous actions of businessmen.

At the same time, the lack of information will make many people unable to know some of the truth of the matter at all.

For example, the shipbuilding industry makes money, there is no doubt that it is profitable, and the prospects are very large.

However, the shipbuilding industry is an industry with very high requirements for technology and capital, and without enough funds, technical personnel and shipbuilding workers, it is impossible to build a qualified shipyard and survive in the market competition.

But these, the vast majority of people who rush into this industry with money don't know at all, they only know that shipbuilding makes money, how to make money? They don't know.

Li Xuan noticed that there was a problem in the domestic economy, and the shipbuilding industry was just a serious problem.

But this kind of problem is not a problem such as insufficient market and insufficient raw materials, but a financial problem, to put it bluntly, it is a hype!

Leave it alone, let the ignorant people put all their money into it, and then go bankrupt, that's not okay, it will cause an economic crisis.

But it's impossible to ban stock trading and the like, because stock trading is just an ordinary business practice, and if you don't let people sell their shares, it's definitely not okay.

Li Xuan noticed the problem, and for the sake of prudence, he did not deal with it as soon as possible, but asked his subordinate agencies to conduct in-depth investigations, and then sent various investigation reports to Li Xuan.

In order to deal with this matter, Li Xuan even postponed many military and political meetings and devoted himself to studying the economic crisis.

This situation also makes many ministers under them confused, and they are a little confused that the Son of Heaven does not deal with so many military and political affairs, but pays attention to some trivial matters.

Yes, in the eyes of many military and political dignitaries, these financial problems are just small things, and the prosperity of the shipyards is also a good thing, and the taxes collected are even more, and even if there is a problem, it is only those insatiable businessmen who lose and go bankrupt, and it is a matter of imperial!

However, this is just their idea, Li Xuan's idea is not like this, this kind of thing is very dangerous, even dangerous enough to affect the development of the empire's industry and commerce.

As the days passed, the shipyards in China were still unprecedentedly prosperous, and the shareholders of many shipyards were smiling, because more and more wrongdoers waved cashier's checks or checks from the Royal Bank, crying and shouting to buy the shipyard's shares from them.

Some smart people saw the opportunity, found a few people at random, and then registered a shipyard, directly ran to pull investment to buy shares, and many people want to invest in those large shipyards without a door, but also excited, even in these shipyards do not even have a dock, when the plant has just begun to build, it is to take out real money to buy shares!

The stock trading company of Zhili Textile Company is also expanding rapidly, and there are new companies selling their shares here almost every day, and not only shipyards, but also other industries are also joining in one after another.

At the same time, not only the stock exchange under the Zhili Textile Bank, but also several other banks, and even the Royal Bank have seen the institutions that make a lot of money, and have set up their own stock trading companies to carry out stock trading business.

And all the stocks that enter these stock trading companies for trading, the price is rising day by day.

When Li Xuan read the detailed investigation report, although he had already expected it in his heart, he was still shocked by the current domestic stock trading situation.

After reading the report, he had a cold face, and then instructed the secretary: "Call Li Daobing over!" ”

What kind of person is Li Daobing? The head of the Survey and Statistics Section of the Hanlin Academy, the head of the Han Dynasty who is feared and hated by hundreds of officials in the Tang Dynasty!

After the secretary went out, he looked at the report in his hand again, and muttered: "They are so bold that they dare to destroy the foundation of my empire!" ”