At this time, the Second Opium War did not happen, and it is estimated that it will not happen, because Britain and France are using their entire army to fight the Ming Dynasty, which has hundreds of thousands of new armies! Moreover, the opium fields in India have also been reduced by more than half, because there are fewer buyers (now the largest buyer is Jishixing), but there are many more cotton fields, and the booming Daming textile industry is very much in need of cotton.

After solving the cancer of the opium trade, China's foreign trade surplus has recovered, and if Lanfang's rubber and palm oil exports are included, the scale of this surplus is not small.

However, the trade between China and Britain was a deficit - the British Empire was still not easy to offend, so the "Ming-British Treaty" included a bilateral tariff agreement, and the Ming Dynasty gave certain tax incentives to British industrial products, especially machinery and equipment, exported to China. As a result, the only imperialist in the world that could threaten the Ming Dynasty shared the benefits of the Ming Dynasty's industrialization to the greatest extent.

After appeasing the British, Daming's rubber, silk, palm oil, coptis, tung oil, bristles and other bulk export commodities can be safely and boldly exported to Europe and the United States to continue to grab surpluses. So now the domestic capital of Daming is quite loose, the old foundation of hundreds of years of trade surplus is still there, and new capital inflows have begun again. According to HSBC's estimates, the gold and silver that have been deposited in China, including the gold and silver that have been minted into gold coins and silver dollars, are worth at least 3.5 billion silver dollars!

Therefore, there is no shortage of funds. Moreover, after the development of the banking industry and the money industry, the precipitated funds began to be absorbed into the financial system in large quantities. As a result, China's financial system is overcapitalized and interest rates are falling. It also opens the Daming securities market. Favorable conditions were created.

Zhu Jishi nodded. said: "Since someone wants it." Then I will arrange for the issuance of some, but the various rules and regulations of the securities market must be drawn up first.

First, banks and banks need to strictly manage the trading of stocks and bonds, and the number of shares held by them must be capped, which in principle does not exceed 50% of the capital; Second, it is necessary to establish an independent regulatory body to investigate the accounts of listed companies and supervise the trading of stocks and bonds; the third is to establish a disclosure system for major affairs of listed companies; Fourth, listed companies need to disclose financial statements on time and regularly, and distribute dividends and dividends. ”

Skpel. William looked at Zhu Jishi with some surprise, the stock markets of various countries in this era are very unregulated. There is no supervision at all, and even he, a banker, can't say so many ways to supervise for a while, Zhu Jishi can actually come up with so many ways, and it seems that it is not a day or two to ponder this securities market.

Several people here also had similar ideas, and they didn't even put forward more suggestions for a while, but Tang Qiwen asked: "Your Majesty, should the cabinet participate in the establishment of a stock exchange and an independent regulatory agency?" ”

"No," Zhu Jishi pondered, "and no one in the cabinet understands this...... Let me issue an edict and charter the Daming Royal Consortium to initiate the establishment of the Daming Stock Exchange. In addition, in conjunction with the Banking Association, professionals were jointly selected to establish the Daming Securities Regulatory Commission. Specific securities management measures. It can be drafted by the Daming Securities Regulatory Commission and approved by me. ”

The conditions for the enactment of the Securities Act are certainly not ripe at this time, because few people in the Constituent Assembly have ever heard of the words securities, stocks, and bonds. This matter can only be tackled first, and then more stringent laws and regulations can be formulated when everyone knows what is going on.

After the decision to set up a stock exchange, the first batch of listed companies in Daming was naturally decided: HSBC, Lixin Bank, Nanyang Rubber, Jishi Bank, Nanyang Bank, Far East, Daming Telegraph and Telecommunications Company, Lanfang Bank and other eight large companies controlled by the royal consortium were the first batch of listed companies in Daming, and later the stocks of these eight companies were called "old eight shares", but the big blue chips in the Daming securities market.

"The issuance of stocks and bonds can be done now, and the imperial examination will be overhauled...... There is also a need to take a long-term view. Zhu Jishi's fingers unconsciously tapped on the conference table, "So can the royal consortium do anything beneficial?" ”

"Of course there's a lot to do." Engels took over the topic, "For example, in the construction of commercial ports, most of China's cities now look like huge fortresses, while many cities in Europe have demolished city walls, built water supply and drainage facilities, garbage collection systems, built straight and clean roads, and some have also established a system of public carriages. I think the royal consortium can work with local governments to plan and build some new towns according to the standards of Western cities.

By the way, the revitalization of Beijing should also be placed in a very important position. Because the royal family owns large tracts of land and real estate in Beijing. Beijing is now almost an empty city, and if it can be replanned and reinvigorated to revitalize Beijing, the value of the royal family's land in Beijing should appreciate significantly. ”

This is...... The city-building movement and the old city renovation movement! It can not only stimulate employment, but also develop real estate, and stimulate economic development. In later generations, the officials of a certain country are not the disciples and grandchildren of the great god of grace, and this can all be thought of together.

Emperor Zhu looked at Engels with a smile: "Is there anything else?" ”

"We can also cooperate with local governments and hire foreign experts to carry out a survey of mineral resources in various places to lay a good foundation for further development and utilization."

"In addition to the stock exchange, a property exchange can also be set up to buy and sell commodities such as silk, rubber, grain, coal, and steel."

"In addition, the Royal Consortium can also cooperate with the Royal Education Group to set up some industrial research institutes and colleges, such as textiles, steel, shipbuilding, chemistry, construction, pharmaceuticals, agriculture, mining, finance, commerce, porcelain, animal husbandry, machinery and other industries, and also hire foreign experts to teach and conduct research to train Chinese professionals."

"Moreover, the Ta Kung Pao Publishing Company should not be ignored, or should pay more attention to it, because public opinion propaganda is also extremely important to the industrialization of the Ming Dynasty, and we should increase investment, and we can rely on the cable telegraph network of the telegraph company to start printing houses to issue newspapers, and strive to make the "Ta Kung Pao", "Daming Times", "Industrial and Commercial Daily" and other newspapers into national newspapers that are simultaneously distributed throughout the country."

"In addition, the royal consortium can also fund the establishment of commercial ports overseas, and the Yokohama Domain is a good model. Now Yokohama is already on the verge of replacing Nagasaki as Japan's largest trading port. The Ming Royal Consortium could have used similar means to invest in the establishment of several Chinese commercial ports in Hawaii, the West Coast of the United States, and South America as bases for global trade......"

"Finally, His Majesty the Emperor, all of Europe knows that you are a great doctor, so should the royal consortium donate money to open some hospitals? Daming now only has two or three decent hospitals, is there a few? ”

Engels was right, industrial development, urban construction, national education, international trade, public opinion propaganda, and even medical and health care, almost everything. The royal consortium is about to become a shadow government, at least the State Planning Commission!

But isn't the Royal Consortium now a supergiant that has mastered the economic lifeblood of the Ming Dynasty? The role played is indeed similar to that of the state-controlled enterprises in later generations. There should be a "planning committee" to lead it......

"Friedrich ......"

Zhu Jishi looked at Engels, who had already made his suggestion: "I think you are willing to be the first general manager of the Daming Imperial Foundation?" ”

"General Manager of the Imperial Consortium? Me? Engels did not refuse, but thought seriously for a while, before nodding and saying, "Your Majesty the Emperor, I think you are very interested in the suggestions I just made, right?" ”

Zhu Jishi nodded: "Yes, now the royal consortium is the largest consortium in the Ming Dynasty, with an annual net profit of more than 40 million silver dollars, which is almost close to 60% of the annual income of the Ming Dynasty, what reason is there not to bear the corresponding social responsibility?" So I agree with you. As he spoke, his gaze swept around the conference room again, and then fell on Owen, "I also want to ask Mr. Owen to be the deputy general manager of the consortium." ”

Robert. Owen owes himself: "I am very willing to serve His Majesty." ”

Zhu Jishi said: "Everyone here, as well as Madame Duran and Princess Maria, will all be members of the board of directors of the Royal Foundation. I hope that all of you will work together with me to make the royal consortium play the greatest role in the industrialization of the Ming Dynasty. (To be continued......)