1210 Financial Sector Reform
Although Dan, the prince of Yan Kingdom, has his own industry, this industry is compared to the huge war expenses. The daily income is not enough to cover the expenses of the army for a day.
Less in, more out. Considering this, the princeling army had to stop the current war, and more and more tested the ability of logistics supply, not only food, but also the consumption of weapons and ammunition, as well as other material supplies. It's all costly.
Even a powerful country like Qin could not conduct a continuous war, let alone a commercial organization rather than a state.
Money can make a war start or it can end it. Everything revolves around the economy. And the economy of Qin is undoubtedly the center of the economy of all countries. Because of Qin's half-tael banknotes, more and more countries and regions are involved.
"I'm going to introduce this month's State of the Union address." Shang Wen turned his wheelchair and walked up to the stage, holding the microphone and said.
"yes yes." Some of the people listening to Shang Wen's speech cheered loudly.
At the end of last month, the State of the Union address was made by Meng Yi. After all, Meng Yi still lacks the experience of some politicians. So, there is something lacking in this regard, and the population does not buy his policies. Even some newspapers blamed Meng Yi on the current situation of Qin State, believing that Meng Yi was mainly responsible and should take the initiative to back down for the position of deputy prime minister.
"I think everyone has heard Prime Minister Meng Yi's report, so how about listening to me?" Shang Wen said humorously at this time.
"But first and foremost, I want to point out this. My position was reinstated. Shang Wen first pointed out why he was able to make the State of the Union address, because his position as prime minister was restored. However, there are some twists and turns in the restoration of Shang Wen's prime minister, because there are too many places that need to be modified in Shang Wen's plan, and many places need to be adjusted in combination with reality. Especially the matter of the banking union, which made Shangwen collapse for a long time.
However, in the end, he solved the problem, and it was very simple. The government can simply ignore the establishment of a banking union. That is, an indifferent attitude to deal with the matter.
In the end, Shang Wen took a negative approach to the handling of this matter, and he pushed the whole matter of establishing a banking alliance to all the banks. Let these banks form a bank union representative council and committee, and then discuss the establishment of a bank union.
As for the details, the government only needs to know the final result and some details to deal with. The government wants an outcome, not a complex set of contradictions and grievances between banks. None of this is a matter of concern to the government. What the government needs is a stable financial environment. And the bank has an obligation to take care of this.
That's how Shang Wen handled this matter, and Shang Wen only needed to know the result.
"I think things in Qin have been chaotic lately. Some of our factories have gone out of business. There are also a number of banks that have failed. The workers' deposits in these banks are also gone. Some of our workers are in a hurry. Shang Wen said with concern at this time.
"I'm so sorry that this happened." Shang Wen said apologetically at this time.
"But, sorry doesn't work, we have to recoup the losses of our workers." At this time, Shang Wen said.
"As you know, good credit is very important to us." Shang Wen said.
"Many of you here are in good standing. This is true for us Qin people, this is true for the government, and so is it for the country. Shang Wen said.
"If our government doesn't have credit, we won't issue more bonds. Of course, we can not pay our debts, but in that case, I will be immediately ousted. Even the angry populace will tear it to shreds. Shang Wen said at this time.
"Hehehe." All laughed.
"Good credit is the foundation of our country's existence, Qin State hates people without credit, and those who take credit as a child's play are destined not to be accepted by all of us." Shang Wen emphasized the importance of credit.
"Now, we need to restore that credit." Shang Wen said.
"Qin's crisis arose in the lack of enough paper money in the banking system, of course. Everyone knows the development of the Qin State. However, the amount of banknotes issued by the government is very limited. In particular, the establishment of the Qin State Overseas Investment Bank made the Qin State banknotes gradually enter a state of short supply, and as a result, such a thing happened. Shang Wen explained this problem to the people at this time.
But the public may not be able to understand it, and in their opinion, Shangwen's explanation is superfluous, because no one knows how important the paper money will play in this.
"Everyone is short of paper money, paper money is needed to pay for raw materials, paper money is needed to pay for workers' wages, paper money is needed to pay for meals, there are many things that need to be paid, however, the Qin State lacks enough paper money, and now, the problem has been discovered. Then we'll just get rid of it. Shang Wen said at this time.
"In the coming period, it is very likely that it will take a little longer, but I would say that there will be a big reform in the financial sector, and only in this way can we avoid what happened today, and as for the future, none of us knows." Shang Wen said at this time.
But the people didn't understand Shang Wen's speech at this time, they couldn't understand what Shang Wen was saying? But the newspaper reporters thought that these words portended something, and they thought that the financial industry of the Qin State would undergo great changes, and as for how big, as the prime minister said, no one knew.
This newspaper believes that Qin's financial industry is about to undergo a major reform. In this crisis, everyone acknowledged that the crisis came first from the financial sector, with the stock market plummeting, followed by frequent bank closures, and then the collapse of some small and medium-sized enterprises. The futures market is extremely active, speculation and investment are mixed up, and some people get rich overnight. Others end up destitute overnight. This kind of thing happened a lot in the Qin State, and it was not a new thing. ”
"Why this is happening, we are worth thinking about. The prime minister may have thought of this, and he was determined to start reforming the financial industry first. As for the purpose of the reform, I am afraid that it is to establish a perfect financial order in the Qin State. The financial industry has experienced a chaos that is more devastating than war. The prime minister wanted to re-establish the new financial order of the Qin state after this chaos. ”
"However, it is worth mentioning here that Qin Guo should beware of a person named Li Wen, who heard the words of an insider trader who did not want to disclose his name, this person named Li Wen vigorously shorted the stock market when the stock fell sharply, and the amount was huge. It can be said that to a large extent, it is caused by this person to short the market. And how much money this person is currently earning, no one knows. But conservative estimates are around 10 million gold. Because the whole market is so empty. A financial newspaper in Qin State said.
Just when Shangwen announced that he was going to carry out financial reforms. The banking circles of the Qin State are closing their doors for a heated quarrel, and here they are dividing their spheres of influence.
"Although our bank has been hit hard by this crisis, we still have an advantage over Wenyang Bank in the trust business, and the number of companies handling trust business far exceeds that of Wenyang Bank. That's enough for us to get us on the committee. At this time, a middle-aged man with good looks raised his hand and said loudly.
This is the congress of the Qin State Bank, but the first thing to be elected by the congress is the committee, and the number of members of the committee is very limited. There are only nine seats on this committee, which means that the committee has nine seats for the banking industry. However, the large number of banks, especially those of comparable strength, makes it difficult to compete for seats.
However, there are some banks that do not have to compete, such as the Crown Bank. At the time of the announcement of the establishment of the Banking Union Committee, the Royal Bank already occupied a seat, and this seat must have a Royal Bank, because, as we all know, the strength of the Royal Bank, especially in this crisis, is very strong. At the same time, the status of the royal bank is noble. So, naturally, it's a matter of taking a seat.
"Of the nine, only seven are for us." So said a banker.
"One is the Royal Bank, and the other is Wenyang Bank, don't look at the big loss of Wenyang Bank this time. However, their strength is still there, especially in the field of foreign investment and related technology, Wenyang Bank has an absolute advantage, even if it is a royal bank, it cannot be surpassed. You know, they are very bold, and there are industries under Wenyang Bank, with the help of these, they are enough to enter the second seat, although they now occupy the second seat, but, I believe, it will not be long before he will surpass the Royal Bank. Another banker said at this time.
"So, the other seven seats, we won't fight?" At this time, the banker asked.
"Nope." The banker replied.
"We can't fight. So, let's just stop arguing. At this time, another banker said.
"We won't have any benefit at all in doing this, so we just don't fight." The other banker looked boredly at the bankers vying for seats.
"I have an idea that we might as well join forces and form some small banking groups, so that we can fight for a seat where we can do more in the future." At this time, a banker proposed.