History of Hong Kong Island

Chapter 430 Letters are worth ten thousand gold, open the library!
"There are 2 million Hong Kong dollars in the vault of Dongfang Bank, more than 300 million in gold and securities, and a total of [-] million usable assets." Qiu Degeng reported his family background, nearly one billion Hong Kong papers!He Shanheng, Feng Jingxi, and Li Guanchun all showed horror, and Huo Guantai, Zheng Yutong, and Xu Shifen even felt dizzy and unreal when they heard the astronomical figures.

The three bankers are well aware of nearly one billion in cash, which proves that there are at least 20 billion or more assets in the general ledger of the Eastern Bank.

This is equivalent to a big bank with tens of billions of funds in the future when the per capita monthly income is three or four hundred.

Moreover, the main customers of Eastern Bank are in Hong Kong Island, and there is still a lot of potential to be tapped in the entire Asian market, which shows that Eastern Bank has more money than Swire and Wheelock.

No wonder Boss He is full of confidence. He wants to support all Chinese capital in Hong Kong, and even dares to utter bold words about pulling out ghosts. It turns out that his waist is hard!

He Shanheng took a breath, and answered the words: "Hang Seng Bank has a fund reserve of 2000 million Hong Kong dollars, of which about 5000 million is cash that is easy to withdraw, and the remaining 1 million is gold and securities."

This means that the savings scale of Hang Seng Bank has reached more than 15 billion. After all, Eastern Bank has better risk control, and the ratio of cash reserves to total accounts is higher, while other banks are lower.

On behalf of the Bank of East Asia, Li Guanchun said: "The development of the Bank of East Asia has not been very good in recent years. The capital reserves are lower, only more than 2 million, and now they have 8000 million."

He Dingxian calmly calculated, and said: "The three major banks of the Chamber of Commerce put together a scale of about 18 billion Hong Kong dollars. Even if it is easy to use 13 billion in cash, it is not difficult to support the current banking crisis."

"What's more, the Chamber of Commerce came forward to fight against the flag. The veterans and uncles in the business world must do their best. If the 13 billion cash is not enough, they can get more than 1 million more funds."

"The other chambers of commerce will see how much money Chairman He can negotiate."

Banks reserve gold and securities for investment purposes. If they are shipped at one time, it will be enough to cause the price of gold on Hong Kong Island to fall, and even affect the domestic market.

In the most optimistic case, the bank's gold reserves are not used.Historically, after the bank run turmoil expanded, the Hong Kong government ordered HSBC to inject capital to rescue the market, acquire Chinese-funded banks, and merge Chinese-funded enterprises.The final amount that HSBC paid was also around 12 billion.

Of course, the ghosts used HSBC as a rescue bank, not to really help Chinese-funded enterprises, but to take advantage of the bailout turmoil to be reaped by foreign banks, not to mention those who merged and reorganized.Even Chinese-funded enterprises that accept loans from HSBC have to pay high interest and use equity as collateral.

In the world, if the initiator of any game becomes the receiver, then the goal of harvesting has been successfully achieved.

"Saving the market" can really save national enterprises and local economies, and it can also become a synonym for a sickle. It depends on the heart of the person who stands up to save the market!
Still clean!
He Dingxian was able to have so much capital reserves, of course not because he had so much money, but because he opened up the "money empire" and "financial empire" and took all the black money from ghosts for his own use.[-] million out of one billion belong to the police ghost, but the ghost's money can also be used to save national assets.

He has done so many things in the police force, and he started to run a chain of operations ten years ago, isn't it just for the strength to make a final decision at critical moments?Holding power in your hands and not using it is worse than having no power. If you have power and don’t use it well, the crime is heinous.

"I'll try my best."

As the leader of the banking industry, He Shanheng has close friendships with bankers from other chambers of commerce. Since he has decided to assume the responsibility of chairman, he will not work hard in this regard.After being silent for a long time, Zheng Yutong said: "If the chamber of commerce and banks need to sell their gold reserves, Chow Tai Fook can buy them in one go at the real-time gold price of the day without discount."

He Dingxian felt relieved when he heard the words, nodded and said: "Thank you Zheng Changli for helping me write Chow Tai Fook's acquisition commitment into the announcement. With more efforts, brothers will have more confidence. Now is the time for everyone to help each other."

"If you are busy, you can leave. Please have dinner in the clubhouse tonight, and come back for a meeting then."

He Shanheng stood up, cupped his hands and said, "He Sheng, I'll go to meet with the representatives of other chambers of commerce first, and report back to the board of directors when I have news."

"it is good."

He Dingxian nodded, turned around and said, "Ah Gang, send Chairman He out."

Lan Gang immediately went forward to see him off, and then Feng Jingxi, Li Guanchun, Xu Shifen and others left one after another. It is not yet eleven o'clock in the morning, and there is still some time before the banking conference at six o'clock in the evening.This half day itself is for the big bosses to handle official duties and prepare resources.

Everyone has to be busy in the face of a crisis. It is impossible to sit in the hall and make tea and chat. They come and go quickly. After the directors withdrew, He Dingxian also drove to Tai Kwun to start work.Eastern Bank has Qiu Degeng watching, and the two foundations under his name also have their own chairmen. In terms of finance, he only needs to formulate policies, and he doesn't need to do it himself.

noon.

After He Dingxian finished eating the takeaway from the tea restaurant, he opened a business newspaper that came with the meal. There was already news that Mingde Bank filed for bankruptcy, but it was not on the headlines.Gui Lao is very organized in his work, he knows not to act too hastily, and he is creating public opinion step by step.

in the afternoon.

After one o'clock.

Chu Yunnan called and said confidently: "I have already negotiated with Uncle Ji, Uncle Ming and the people from the four major families. If the three major banks can't support the market, they can raise 5000 million Hong Kong dollars, but there are only 5000 million trust loans, and the remaining [-] million will be mortgaged by assets."

"understood."

He Dingxian agreed very readily: "An extra [-] million reserves will increase the winning rate by one point. Although the chamber of commerce has already transferred a large sum of money, it is well prepared. I have taken care of it. Thank you for me."

"You're welcome."

"It's all family."

Chu Yunnan said: "Old Dou, Uncle Ji and Uncle Ming have already discussed, if they want to use money, they will split the shares of the company to pay for it, and you are responsible for taking the money."

A warm current flashed in He Dingxian's heart, and he was very moved. He made a decision in the chamber of commerce. He wanted to persuade everyone, and he used tough methods to make a decision at home. In a word, the whole family supported him!The only people in this world who support you unconditionally and believe in you unconditionally are your family members.

When facing a financial crisis caused by trust, he deeply felt how precious the word trust is.

"it is good."

"I'll have two more drinks with Laodou when I go back tonight."

Chu Yunnan smiled, looked back at home, and said to the phone: "I am really playing with children. After raising the eldest daughter in this life, the younger brother went to school and started raising grandchildren. He really likes children."

"You're busy."

"Didn't go home for dinner tonight." He Dingxian said anxiously, Chu Yunnan had an indifferent attitude: "If you don't go home and sleep, you'll die!"

He Dingxian listened to the blind tone on the phone, and was very happy: "With this kind of wife, can you not go home and sleep?"

What's more, he has more than just a wife in his family.
In the afternoon, at two o'clock, the Chamber of Commerce's bailout notice was officially issued. It was not only pasted on the main entrance of Ruihe Hall, but also distributed to all members according to the address. One after another, members received the bailout notice from the Chamber of Commerce.It can be said that this strong and swift move immediately boosted the confidence of the Chinese-funded banking industry and factory owners.

Since Mingde Bank submitted a bankruptcy application to the court early in the morning, nearly 1000 million Hong Kong dollars have been evaporated out of thin air by Chinese consignors.Everyone who owns the cargo hates it so much that they wish to shovel Zhou Weimin's entire family.But it is allocated to each person, the more is 10,000+, and the less is tens of thousands or thousands.

In terms of law, once a bank enters bankruptcy proceedings, it will wait for the assets to be liquidated. If the assets are insolvent, the debt repayment will become a dead letter.There will never be a government backstop in the free market, and if you want to take a backstop, you can only introduce another capital side.

If not, Mingde Yinhao is a registered member of the Guangdong Provincial Chamber of Commerce, and some cargo owners have asked for swordsmen to greet Boss Zhou.This reflects the powerful role of the Chamber of Commerce, at least to ensure the safety of members within the scope of the law.

As long as members do not take the initiative to cross the red line, the chamber of commerce controlled by social forces is the last personal safety guarantee for members.Of course, it is another matter for members to take the initiative to step on the red line, borrow from usury outside Hong Kong Island, or make personal enemies.

The membership dues to the organization will never be paid in vain, but if you pay such a small membership fee, don't even think about kidnapping the organization.

The consignors who managed to escape by rushing to cash the checks the day before, not only felt very lucky, but also began to transfer the money to the British-funded foreign firms.It is not limited to the funds exchanged by Mingde Bank, but also includes deposits in other Chinese-funded banks.

Panic has already spread rapidly, endangering everyone. When a knife is on your neck and you want to loot your hard-earned wealth, what can ordinary people do but run?what else?This cannot be blamed on cargo owners and ordinary citizens, they do not have the confidence and strength to support them.

Who doesn't know that financial stampede can kill people?Will the run on the storm cause an economic crisis?But if someone clearly wants to eat you in one bite, it is better to run away than to sit and wait for death. He would rather be trampled to death than be eaten!Escaping is only their last option.

Since the morning, a total of [-] banks in Hong Kong, including Shenglong, Fengyu, Yongtai, etc., have had redemption incidents... Although these banks are struggling to support, trying their best to exchange money, trying to stabilize the turmoil, but the cash pool is exhausted visible to the naked eye. Everyone knows that the imminent crisis of bankruptcy is imminent.

At this time, a notice from the chamber of commerce was undoubtedly saving national enterprises from the fire, and the bank bosses who were the first to be impacted grasped a life-saving straw: "Quickly go to the chamber of commerce to borrow money!"

"Call Chairman He."

"To Ruihetang!"

"quick!"

Before it was evening, many bank bosses and bank shareholders had already come to the guild hall, scrambling to beg the chamber of commerce to open a warehouse to save the market.After Qiu Degeng called the big boss for instructions, he walked out of the room wearing a brown gown, looked at everyone and said, "Take the check that the bank will cash, and exchange it for money. Interest-free loan, mortgage with corresponding assets, and redeem it with money afterwards."

"From now on, the Chamber of Commerce will open a warehouse to save the market in accordance with the sixth resolution of the council this year!"

"Come one by one, there are plenty of Hong Kong papers!"

(End of this chapter)