[I made a mistake in the name of the previous chapter, I don't change it, it's too troublesome, forgive me.] Pen %Fun %Pavilion www.biquge.info】

Chen Han Chengtian in the second year, autumn. Shanghai and Guangzhou, two of China's most influential foreign trade cities on the eastern coast, are simultaneously having a large-scale construction site in the central bustling area of the two cities. These are the only two stock exchanges in China and their corresponding supporting facilities.

The two stock exchanges will not only become landmarks in their respective cities in the coming days, but also become a financial and commercial center in their respective cities. In the area centered on the Stock Exchange Square, the stock exchange sits south and faces north, and the other locations are shops, teahouses, restaurants, hotels, and so on.

Huang Song's first wave of official Chinese missions to the West had already returned to the country, in Amsterdam in the Netherlands, London in England, Paris in France, and Venice and Genoa on the Mediterranean coast, although the latter had long since decayed. Looking at the 200-year history and trajectory of the banking and financial industry in Europe, China's stock exchange was born in line with the standard take-it-or-leave-it doctrine.

In the far west, since the establishment of the Amsterdam Stock Exchange in the Netherlands in 1609 by the Western calendar, large-scale and large-scale financial transactions in Europe have a history of 160 years, and the system has developed relatively formally and maturely! At least with Chen Ming's vision and economic knowledge, he can't see anything wrong with this.

Even with the influence of the Bank of England hanging over the entire Kingdom of Great Britain, the London Stock Exchange was officially established in 1773 at the New Jonathan Cafe. Although the Bank of England is now established, it still controls the issuance and sale of government bonds and bank stocks.

Throughout the 18th century, the Bank of England issued large quantities of government bonds and equities for the war effort in England, and even though their stock exchanges did not yet have cities, the actual trading of stocks was very active and the form of trading was gradually improved. On this basis, the establishment of the London Stock Exchange was a matter of course.

After the establishment of such a dedicated stock exchange venue, decentralized securities trading will be concentrated on the exchange, and the benefits of government regulations on securities trading will be obvious. Whether it is the Netherlands, London, or Paris, the most marketable securities in the securities exchange market are almost all treasury bonds, foreign bonds, mines, canal stocks, etc.

"At present, our dynasty is dredging rivers on a large scale, opening up land transportation routes, mining mines, cultivating water conservancy and other major facilities, and using stocks to easily raise funds for private construction. As for the ability to repay, in terms of waterway and land transportation, the imperial court can completely use the tax revenue of the river and official roads to share the profits. In addition, the handicraft industry, represented by the textile industry, has also developed very rapidly. In order to expand production and strengthen competition, many family businesses in many places have been converted into joint-stock companies, and they are planning to issue their own shares and expand costs, which provides a good economic foundation for the establishment of the stock exchange...... "Huang Songcai will not say that there are many people who would rather prevent the pace of development than take out their shares."

Huang Song, who returned from Europe, faced the inquiries of the cabinet from all quarters, and spoke eloquently.

Chen Ming had only planned to build an exchange in Shanghai, which was the work of old ideas in his head. In fact, even though Shanghai has been developing rapidly for several years, it is still not as good as Guangzhou. Fame takes time to brew, and economy also takes time to create. For the West, the city of Guangzhou has been etched in their memory for hundreds of years, and Shanghai is just emerging.

To be fair, Chen Ming is not sure what the Pearl River Delta will develop into in the future, an economic zone that has surpassed Tokyo in Japan to become the world's largest urban agglomeration in terms of population and area, and has now lost its most precious treasure -- foreign trade privileges.

Regardless of whether this privilege is to their liking or not, the 'open treaty port' will never again coincide with Canton, and the colonies will never be imprinted on Hong Kong's head again. Without Hong Kong, would there still be Shenzhen? Now that place has an ancient name, it is called Xin'an.

In the future, Hong Kong, the world's 11th largest trading economic system, the third largest gold market, the sixth largest foreign exchange market, and the 15th largest banking center, is now a military base of the Chinese Navy Division, and ground was broken in the spring of the second year of Chengtian.

Although Hong Kong's Victoria Harbour was one of the world's three major natural harbors in the past life, it was not without boasting elements, but as a natural Liang Liang harbor, it was absolutely sufficient as a military base for the sailors.

The Pearl River Delta, which has embarked on another path, will have what the future development will be, Chen Ming really can't say. But with the current business status of Guangzhou, Chen Ming really shouldn't 'forget' it in the back of his mind.

The strength of the Guangzhou business group is very strong, and it is a very strong economic force. At the beginning, the head tribe of the Commerce and Trade Bank went to Shanghai, which made Guangzhou very opinionated.

The only thing that Shanghai has an advantage over Guangzhou is the banking sector. Among the major banks in China, the headquarters of the Commercial Bank is in Shanghai, the headquarters of Zhongyuan Bank is in Lushan, in addition, including Jiangnan Bank, and the newly established central bank, the headquarters are in Nanjing, which is obviously closer to Shanghai. Shanghai is clearly closer to the center of China's banking community than Guangzhou. However, the establishment of an exchange in Shanghai alone was obviously insufficient, so the construction plan added this one in Guangzhou.

China's third private bank is also about to be established, and the Nanling Bank in Liangguang naturally wants to have a stock exchange in the city, because Nanling Bank is located in Guangzhou.

……

Time flies. In a blink of an eye, it came to the first day of June in the third year of Chengtian.

Shanghai Huangpu River ushered in a very special day. The stock exchange, which had been built and decorated for more than half a year, was finally about to be unveiled. The entire business community in Shanghai was shaken, with pennants fluttering, gongs and drums noisy, golden lions dancing wildly, and firecrackers sounding. Xiao Lou, the mayor of Shanghai, personally appeared, and also invited the big people from above, and the specifications of the unveiling ceremony were not ordinarily high.

From now on, the stock exchange has become a landmark of Shanghai. Although it is not very tall, only three floors, and at this time the four or five storey buildings in Shanghai have been arranged one or two. But it didn't work.

Landmarks, landmarks, are the calling cards and symbols of a city. It represents not only the building itself, but also a way of life, an experience of a new trend of thought. The reason why the lifestyle of a region or a city can be called a symbol is not only because of the building itself, but also because of the combined force of the environment, culture, educational atmosphere and other aspects, and it is they who jointly create a regional classic.

In Shanghai, in Guangdong, there is nothing more suitable than the stock exchange.

As a stock exchange carefully built by Chen Han, the decoration here, the appearance here, is also absolutely beautiful. The sparkling glass windows, the pale yellow granite patch walls, the yellow and green glazed tile eaves, the three-foot-high granite pedestal, and the front are lined with twelve small five-zhang high circular columns. Compared to the traditional brick and wood houses in the surrounding area, it is really much more powerful. There is also a spacious square in front of the building, and in the center is a beautiful fountain, which was designed and supervised by Jiang Youren [missionary], the design and construction director of the artificial fountain of the Old Summer Palace. Even in Shanghai, a coastal city that has extensive exchanges with the West and is affected by the westerly winds, such a large fountain landscape is the first time in the world. And the entire stock exchange, since the construction of this fountain landscape, has become a place for countless people to talk about and pay attention to after dinner.

It invisibly gave a national advertisement to the future stock exchange.

Therefore, when it opened today, the grand unveiling ceremony attracted many people to watch. What makes the people find interesting is that not only the official who holds the authority, the gentleman who is rich, but also the red-haired and blue-eyed foreigners, and even Han Teng, the third-in-command of the Industrial and Commercial Bureau, came to congratulate in person.

The square is still noisy with gongs and drums, but the whispers of the people below are not inferior to the sound of gongs and drums. Although there have been a lot of new things in the past two years, these people are still very concerned about the stock exchange. Because it's in their vital interest. After the Chinese New Year this year, the price of land bonds in the northeast has been rising, and it is now close to the 60 mark. But that's not the final price! Everyone is convinced of this view.

Sixty pieces of paper money are six silver dollars, four taels of silver. If such a price were to buy land in Northeast China ten years ago, nine out of ten people in the country would think that the price was too high. But what about now? The income of soybeans is obvious, who is not the main soybean farmer who has entered the large and medium-sized farms in the Northeast in the past two years? This benefit is eye-catching. The bean dregs left over from oil extraction are not only a fine material that livestock loves to eat, but also can be used to fatten farmland. Since last year, the price of okara has been rising, because the merchants of sugarcane plantations in the south have gone to the northeast to buy okara cakes.

Sugar cane is very labor-intensive.

Newspapers large and small have paid attention to this matter and analyzed it. It is generally accepted that the stock exchange is the most direct cause of the recent acceleration in the price of land bonds.

Because once the stock exchange is officially operational, the price of land bonds will be more transparent, and at the same time, it will also make many, many small-cost buyers strike out. Because the price they offer is unattractive in the eyes of many people who hold land bonds in their hands. This is a 'world' of capital, after the big fish enter the market, many small fish will be greatly squeezed out of the living space by the big fish even if they are not eaten.

It's like banks and banks, which are no longer mysterious in the eyes of ordinary people, although there are still many honest people who prefer to seal their money in jars and bury it in their backyards, regardless of whether the money is made of copper or silver, or paper. Because they believe that it is much more reliable to leave the money in the custody of the 'land lord' than to hand it over to the government and private custody. As for private banks, in the impression of some ordinary people, they are even more equivalent to the money bank and silver number plus pawnshops and usury in the past, and the image is also a 'profiteer'. But more and more people still choose banks, because banks give better interest rates, because banks are endorsed by the national court, so that more and more money banks are going bankrupt and out of business.

Whether it is the old Shanxi silver number, or the local name in Jiangnan. Under the mighty torrent, everything is like this. In the financial industry, the competition is really, really cruel.

That's why private bank licenses are so precious.

In the past two years, there have been farms in the Northeast one after another, including major military and civilian joint-stock companies. However, in many farms, the operators get more use rights than ownership, and for these large and medium-sized companies with a certain amount of money in their hands, the most in their interests is of course to completely take the surprise as their own. But many people just hold on to the ownership and don't let go, because the price of land bonds is always rising, not falling.

There are also many businessmen who are in urgent need of funds to expand the scale of the industry, and these people are very concerned about the stock exchange.

Although the first batch of companies that have passed the review of the China Banking Regulatory Commission and are qualified to be listed, there are only 70 companies in Shanghai and Guangzhou combined, but this is a 'road'.

Many people already know the 'pricing' of land bonds, and the CBRC gives 60 notes per acre of land. And how high this price will sprint to after today, no one knows how high it will be. Because no one knows how crazy the 'buyer' will be.

But another real example is the North Sea Company. The latter released 12% of the shares, divided into 120,000 shares, each priced at 12 yuan, endorsed by Zhongyuan Bank. In other words, if this price is stabilized, the market value of Beihai Company will become a full 12 million banknotes, 1.2 million silver dollars. And what was the registered capital of Beihai Company three years ago? One hundred and fifty thousand silver dollars.

Although the Beihai Company has become famous in the past two years, the 'actual capital' of the Beihai Company is there, whether it is the whaling fleet, the oil refinery, the cannery, the jerky factory, the leather company, or the company's account funds, the total assets are five or six million banknotes. But now that this stock is 'blown', it's really going to be bragged.

Although there are not many such examples of Beihai companies, the stock prices of most companies are still based on the average price of the stock price of the Securities Regulatory Commission, and at most they are overflowing by one or two percent.

These tangible examples are also the biggest reason why countless large, medium and small businessmen are keen on the stock exchange. Moreover, the term 'financial speculation' is not new now. Newspapers can report a lot of things related to finance. The history of financial development in Europe for more than 100 years has been frequently reported after Huang Song and his return to Nanjing.

For example, the 'South China Sea bubble crisis' in the United Kingdom, the 'tulip effect' in the Netherlands, the sharp rise and fall of stock prices caused by these off-the-normal investment frenzy, and the chaos that followed, are all completely published. The harm of financial speculation and the madness of the stock market have long fallen into the eyes of an unknown number of people. Although when they themselves fall into it, whether they can resist the temptation is another matter.

Jiangnan businessmen and giants gathered together, government officials at all levels can be seen everywhere, and Robert, who was holding wine, congratulated Pan Zhenen and said: "Mr. Pan, congratulations on becoming the director of the China Securities Regulatory Commission." Because of Robert's own good connections with the Chinese government, he is now the British Consul General in China.

Formal diplomatic ties between China and the EU were also finalized in May last year, with the diplomatic level of course, at the ambassadorial level. Many of the members of Gao Yanming's delegation to Europe this time are the staff of the future embassies in Europe.

If it weren't for the Europeans who first handed over an olive branch to China, the two sides handed over diplomatic relations at the ambassadorial level. Chen Ming sent envoys to other countries, and it was really possible to attract slander from the government and the opposition. This traditional Chinese concept of diplomacy is somewhat different.

Robert smiled amiably.

Two years ago, the gunfire in Lexington completely frustrated the British plan, and the attention turned to the British in North America, and at this time they did not dare to touch China's red line again. The alliance between Britain and France in the Far East, with the arrival of Franklin in France last year at the age of seventy, also quickly collapsed.

The French have not yet made a complete decision, and the situation on the North American continent, the British still have an absolute advantage. The Battle of Saratoga, a turning point in the American War of Independence, had not yet broken out. But the French are so attached to the humiliation of the Seven Years' War that every European can see. After Franklin arrived in France, he was welcomed by all walks of life in France, and a lot of private donations were also sent to him, and then turned into various military supplies urgently needed by the Continental Army.

It's just one chance away!

If the iron fist of the Kingdom of Great Britain can be hit the vital points of the Continental Army, the French assistance to the United States may only exist in the 'people'. And if the Continental Army can carry the iron fist of the British, and in turn give the British a heavy blow, the French, who are absolutely emotionally motivated, may really end up in person.

Under these conditions, trade between the British and China became an unshakable link. This is related to a very large amount of the British government's fiscal revenue, and there must not be the slightest slip of the beat. So John Bull quickly abandoned the Gongbang dynasty in Burma.

Poon and Robert are old friends. This time, he semi-departed from the Industry and Commerce Department and became the director of the Securities Regulatory Commission, which was a landmark decision for him. Whether you can go further in your lifetime depends on how you go.

"It was the right and wise decision. In an economy as large as China, the stock exchange will inevitably become an indispensable part of it. Robert raised his glass to Poon.

"Lend your good words. I think so too. Pan Zhenen laughed. (To be continued.) )