History of Hong Kong Island

Chapter 432
"Brother Xian, members have been here for a long time." Zheng Yutong raised his eyes and said that he had almost eaten.He Dingxian was still unhurried, cooking the hot pot and stuffing the meat into his mouth: "Tell them to arrive at six o'clock, if you arrive early, just sit down obediently."

"The sky is falling, and I have to wait for me to eat my food first."

He Shanheng, Huo Guantai and others deeply agreed.

He Dingxian ate for a while, until it was five minutes before six o'clock, Fang put down his chopsticks, stood up and walked to the steps in the middle hall.He Shanheng, Zheng Yutong and other directors also got up together, stood behind him, and looked at the 5 members of the chamber of commerce sitting below.

"Last night, foreign banks created a run on Chinese-funded banks."

"Mingde bank went bankrupt, Yongtai, Shenglong, and Fengyu's seven banks were trampled!"

He Dingxian was wearing a suit, tie, and combed his hair back. He stood on the field and shouted loudly: "I want to trample our Huazi to death!"

"This time, Chinese capital blindly chased the real estate market, and the financial industry ignored risks and gave foreign banks opportunities, which led to the current situation. I am not blaming you anymore, but everyone here is responsible for disregarding the responsibility for financial security!"

He pointed down the stage.

Not only were the more than 100 banking bosses present shocked, but the seven directors standing behind were also awe-inspiring.

But He Dingxian didn't come to scold people. He looked around the crowd and said, "But my people, I'll take care of them. Back then, I took the lead in establishing the Guangdong Provincial Joint Chamber of Commerce. Together."

"Clenched into a fist!"

"Whoever hits us, we must not only be able to defend, but also be able to fight back!" He clenched five fingers in his right arm, punched out a punch, and said in a vibrating voice, "Ghost wants to hit my brother, I don't agree!"

"The directors of the Chamber of Commerce are also different!"

"Today, on behalf of the chamber of commerce, I would like to formally inform you that the three major banks of the chamber of commerce have opened their treasury to rescue the market. You all know the specific plan. Because, in just one afternoon, the Eastern Bank released more than 5000 million Hong Kong dollars!"

"But I want one thing!"

Boss Xu of Yongtai Bank stood up, clasped his fists and said, "The chamber of commerce saved our lives, and we should be obliged to do whatever it takes."

"Correct!"

"Director He, please speak."

The people below were enthusiastic.

The big boss took money out to save the market, so what's the point of making a little request?What's more, the big boss didn't ask for mortgage equity in the terms of the loan, so it was impossible to impose any excessive conditions, and the members present felt at ease.

"Remember this lesson!"

He Dingxian said: "There will not be only one run. Since we are in Huazi Finance, the first bottom line is to keep Huazi Finance's safety. Money can be earned slowly. You can buy one less building and eat less seafood. !"

"If the line of financial security is broken, it doesn't matter if you jump into the sea, don't force people to hang on the door of your bank to collect debts."

"I'm on errand, so I can't see this kind of scene"

The members were silent for a while, feeling a little guilty.

In fact, if the owner of a bank was a bank teller 30 or [-] years ago and had no work experience in Shanghai, he really doesn't know what the financial war is all about.This is also the first time that the four major foreign companies have made a move on Hong Kong Island.

Because the previous Chinese capital was not worthy at all.

"In the future, if this kind of thing happens, I will still save you, but I will save you after you are dead! Finally, remember the grace of the Chamber of Commerce! In the future, there will be a lot of Chinese capital to overcome difficulties. If you need everyone to contribute, remember to listen to the Chamber of Commerce. order!"

"I help you guys, and I hope you will keep your family business and continue to help people in the future!"

The expressions of the members were greatly touched. Ordinary words were usually heard as deaf ears, but this situation moved the members who were in difficulties. Several elderly members had already shed tears and were about to Wipe gently with the cuff of a gown.

Xu Mingye took a deep breath, clasped his hands together, and bowed long: "Thank you, He Sheng, thank you to the chamber of commerce, and thank you to all the directors."

"This time we are in the same boat, sharing weal and woe, Xu Mingye will never forget it, and the Chamber of Commerce's admonition will definitely be kept in mind!"

More than 100 members stood up, bowed, and shouted loudly: "Thank you He Sheng, thank you Chamber of Commerce!"

"The feeling of being in the same boat will never be forgotten!"

Shouts echoed in the hall.

He Dingxian stopped talking nonsense, and said with a light smile, "Does your butt hurt from sitting, and you can't wait? Hehe, let's line up to exchange money. The treasurers of the three major banks are all sitting in the guild hall, so I guarantee that no one will drown!"

He Dingxian touched his watch, turned around and took Zheng Yutong, Huo Guantai, Xu Shifen and others to the second floor to drink tea. Qiu Degeng, Li Guanchun, and Feng Jingxi sat at the desk and led their buddies to lend money to members one by one.

This can be regarded as a special loan for bailout!
In areas where there is no Chinese government, or where the government is lacking in ruling power, local chambers of commerce, associations and other associations must assume certain government functions. Otherwise, how will the Chinese develop?If there are not many local Chinese, or lack of community soil.

The Chinese will adapt to local conditions, and then choose to adopt the system of the gentry family, defend the interests of the Chinese, and continue the family inheritance. The higher the level of this three-tier system, the higher the conditions required, and the more benefits it will naturally bring.

Many people always say that the family system is dark, the chamber of commerce system is despicable, and SHZY is number one!

nonsense.

This is inevitable, because of its superiority, it can grow bigger, but what about places outside the influence of the government?The Chinese also want to survive and develop, and chambers of commerce, associations, and families are the best choices.

It's better than being swallowed in one gulp.

This is why Guangdong Province, Hakka, Fujian, family temples are endless, and incense is still there, and why a chamber of commerce on Hong Kong Island can affect the livelihood of tens of thousands or tens of thousands of people.

Unite and protect yourself.

Mutual aid and cooperation.

Many times there is no choice.

That night, the Chamber of Commerce invested more than 3000 million.

Wheelock.

In the CEO's office, Madden was smoking a cigar, crossed his legs, leaned on the sofa and looked at a document, and said with a happy expression: "In less than 48 hours, Defeng Bank had an extra deposit of 300 yuan, more than [-] rooms client of Company."

"The results of the financial war are really great. Harvesting a wave of Chinese is comparable to ten years of operation."

Qi Yaolin, the president of HSBC, was sitting opposite, full of confidence: "HSBC also has 500 million more deposits. It is estimated that in another 24 hours, at least [-] million funds will be transferred from Chinese-funded banks to foreign banks."

"The first battle was won, and the results are gratifying."

Standard Chartered Daban Charlie was excited: "Accepting depositors' funds is only the first step, causing chain closures of Chinese-funded banks, and only by buying bottoms can Chinese-funded factories make a lot of money."

Among the accounts of the four major foreign banks, Wheelock contributes the least, and can only take a sip of soup in the financial industry. The interest of Standard Chartered is to eat Chinese-funded factories, the interest of HSBC is to merge Chinese-funded banks, and the interest of Swire is obtained from the acquisition and mortgage. Cheap real estate.

Among them, HSBC has the largest cake, and Wheelock has the smallest, but each has its own independent direction, and its efforts will be directed at one place without stumbling each other.

If someone has great skills, he can steal a piece of other people's territory, and everyone maintains a default attitude.

Madden frowned when he heard the words: "Originally, the two banks of Yongtai and Fengyu should have stopped paying at night to further expand the run, but now they are still able to pay smoothly. According to industry sources, major Chinese chambers of commerce have already begun to provide money to save the market. "

"Responds very quickly."

Qi Yaolin smiled deeply: "I would be surprised if He Dingxian didn't get involved in the banking industry, but I wouldn't be surprised if He Dingxian came forward to organize a financial struggle and let the Chinese Chamber of Commerce pay for it for a while."

"However, we already have a plan to deal with Dongfang Bank. Although Dongfang Bank has a lot of money, it is not enough to support the entire banking industry. Besides, won't Dongfang Bank have a payment crisis?"

"At that time, no matter how many capital pools the Eastern Bank has, it will be bottomed out, and it will be hard to protect itself. How can we save people?"

Madden looked thoughtful, and the more he thought about it, the more horrified he became.

If you want to move the money of the Eastern Bank, you must dig the roots of the Eastern Bank
Where is the root of Eastern Bank?

Charlie De smiled meaningfully, and looked at Madden with an unconsciously arrogant expression.

"Besides, since the turmoil has arisen, it will not be so easy to calm down. Wing Tai and Feng Yu can get out, and can every other Chinese bank get out? Standard Chartered is ready to eat meat. I don't know if Wheelock has it."

As the four major foreign firms have said, once the storm of runs is initiated, it cannot be subsided in a short time.Because news fermentation itself has a process, and information dissemination also takes time. Many citizens have just received the news, so how can they trust again?
Even if the vast majority of people know that the bank account is not bankrupt, out of the mentality of rushing to run, they will first get the cash in their hands, and then slowly consider which bank to deposit in the next step.That night, all the banks on Hong Kong Island, big and small, stayed open until nine o'clock to close.

The next day, in the morning.

Hong Kong Island Commercial Daily, South China Morning Post, and many newspapers published news that "Mingde Bank filed for bankruptcy", "Insolvency" and "More than 1000 million Hong Kong dollars of depositors evaporated".Afterwards, some experts came out from the commercial channels of several radio stations to analyze the investment policy of Chinese-funded banks blindly chasing after the real estate market. For a while, public opinion that all Chinese-funded banks will go bankrupt in chains was rampant, and the property market was expected to be frustrated again, and property prices entered a rapid decline. .

Just because the bosses of Chinese-funded banks got a good night's sleep does not mean that the world will be peaceful. As soon as they opened in the morning, all the banks were blocked.Many people in the market do not even go to work, and come to the bank to grab cash.Another rough day for the banking industry.

In the afternoon of the same day, two banks, Fengyu and Shenglong, were unable to support themselves and filed for bankruptcy.This is no longer a matter of whether the Chamber of Commerce will help or whether there is money, but that the shareholders of the two banks are insolvent and lack confidence in the industry, so they dare not borrow any more money.

Because the rapid decline in property prices has indeed caused another setback in the confidence of Chinese-funded banks, and some bosses have to adjust their expectations in order to survive.However, within 72 hours, only three banks went bankrupt, and no large-scale landslides were caused.

The situation is undoubtedly much better than in history. The mess left by the three banks can be easily taken over by the three major Chinese banks.

No.80 for six hours.

The first trust bank on Hong Kong Island, Yuedong Trust, broke the news that the boss ran away overnight, and the run on the bank expanded again, involving the top rich families on Hong Kong Island.

In this financial war, the most critical moment for Chinese capital has arrived!
(End of this chapter)