Spring Breeze 1991

"Hong Kong implements a linked exchange rate system, that is, the Hong Kong dollar is exchanged for the U.S. dollar at a fixed exchange rate, so the Hong Kong dollar is not a currency in the true sense, but a U.S. dollar exchange bill. This system has ensured the stability of Hong Kong for 14 years and is the foundation of Hong Kong's economic development. A Dinghaishen needle."

Yao Yuan took over the conversation and said, "Soros' strategy is obvious. They want to attack the Hong Kong dollar and force the SAR government to abandon the linked exchange rate system like Thailand and other Southeast Asian countries. Once they succeed, Thailand's present will be Hong Kong's future. .”

He glanced at it and said, "Soros' Quantum Fund has attracted a large number of international speculators, and the international hot money following them is a huge number. The battlefield has been opened up, so this battle is a big battle that burns all over the world."

Yao Yuan knocked on the table and said, "Hong Kong will be the main battlefield."

He looked at Li Jinghan and said, "President Li, BOCI Securities is one of the largest securities firms in Hong Kong. If the SAR government wants to enter the market, I guess I will invite you, Yingda, Hesheng, and Huo Duoli to act as representatives."

Li Jinghan nodded slightly, and said to Deputy Director Zhuo and Director Li, "There are more than 600 brokerages in Hong Kong, and the strength of our BOCI Securities is one of the best in Hong Kong. If the government wants to enter the market for business, it will definitely look for us."

He changed the subject and asked, "The question is whether the SAR government will intervene. The SAR government has always pursued a policy of non-intervention, which is the basic policy of Hong Kong as an international free port and a regional financial center."

Director Li is clear about this point, nodded slightly and said, "This is a basic issue, and the possibility of non-intervention by the SAR government should be considered."

Pan Jie said, "We have a corresponding plan. If the SAR government does not intervene, our campaign goal will be changed to repel Soros and try our best to maintain the bottom line of the Hang Seng Index."

Before the market opened today, the Hang Seng Index had a high of 16870 points, and it fell sharply by more than 100 points at the opening. Afterwards, it experienced a slight ups and downs for more than an hour. When the market opened in the afternoon, the nightmare began. point!

Industry analysts believe that the temporary plunge caused by some speculators selling Hong Kong dollars and HSBC shares in the New York stock market. It is generally believed that the Hang Seng Index will soon return to its high point after the market opens on Monday. This is due to investors' full confidence in Hong Kong's economic development. .

But Yao Yuan knew that this was a test by Soros, and the purpose was to see the situation of the emergency response mechanism of the SAR government.

As a result, Soros found it difficult to handle. As an old regional financial center city, Hong Kong has gone through the stock market crash in the 70s. It is very experienced in dealing with such emergencies, and a comprehensive response mechanism is very effective. of.

Yao Yuan judged that Soros would stop and continue to look for Hong Kong's weaknesses, and he would not let it go.

He said, "After the market opens on Monday, there is a high probability that the Hang Seng Index will rise sharply and return to the high point before the plunge. Soros will continue to search for Hong Kong's weaknesses in secret, and another attack will be a full-scale war."

Smiling, he said, "I estimate that there will be at least one or two months of blank time. I suggest that everyone do what they are doing for the time being, and recharge their batteries for the day of war."

Li Jinghan asked, "Mr. Yao, do you think the sharp drop of the Hang Seng Index today is a probing attack by Soros?"

Yao Yuan nodded slightly, "Very likely."

"If this is the case, the war has actually already begun." Li Jinghan thought for a while, then turned to his subordinates and said, "Let's stop resting and study hard from Huayin's colleagues. Don’t be proud and complacent just because you think you are one of the most powerful brokerages in Hong Kong, you are far behind the counterparts in Huayin Securities.”

The Central Bank, the State Administration of Foreign Exchange, and the Hong Kong Branch of the Bank of China have drawn three or five young and promising financial talents to come to study. In fact, they may not think so in their hearts. The chain of contempt exists in reality.

Especially those from the Securities Department of BOCI, they look down on Huaxia United Bank, let alone people from the Central Bank and the State Administration of Foreign Exchange.

They knew that the predecessor of Hua Xia United Bank was Nanyang Bank, which was just a small and medium-sized bank in Southeast Asia.

However, after Nanyang Bank was acquired, the restructured Huaxia United Bank has been keeping a low profile.

As a large securities firm with many years of roots in Hong Kong and rich experience in the industry, the Securities Department of BOCI International looks down on Huaxia United Bank, a non-famous bank, which is also reasonable.

Li Jinghan was afraid that these subordinates would not pay attention to it or cause trouble because of the dog's eyes. He said with a straight face, "Huaxia United Bank has made long-term and short-term investments in South Korea, Japan, London, New York and other major stock markets in the past three to four years. The profit has exceeded 50 billion. U.S. dollars. If you had half the skills of others, the securities department of BOCI would have already become a well-known international brokerage."

Several elites from the securities department of BOCI widened their eyes in surprise, subconsciously thinking that Li Jinghan was joking or being deceived, but suddenly realized that in this serious occasion, people from Huaxia United Bank would not joke about such things, President Li, who is also a professional, will not be easily deceived.

At this time, Gao Jian pointed at Pan Jie with a smile, and said, "Part of this is from Shenzhen Development Bank, and Shenzhen Development Bank has a great amount of funds. They use us to invest in overseas financial markets. Fortunately, they are not disgraceful. They are small. There are gains."

It was also the first time Director Lin heard of this matter. He didn't care what the people below thought. What he cared about was the situation of Huaxia United Bank and Deepin Development Bank, especially the latter.

He hurriedly asked, "President Pan, can you elaborate on this matter?"

The central bank manages all the banks in the country. Director Lin is the director with real power, and he and Deputy Director Zhuo are vaguely equal.

Pan Jie was sincere and respectful, and said, "Director Lin, the situation is like this. Our business in Russia has developed more smoothly than expected. For a while, there was a large backlog of US dollars in Russia, and it was very easy to recover them according to normal procedures. It’s troublesome, so I discussed it with President Gao, and they will come forward to represent us with this backlog of dollars.”

Smiling, he said, "I didn't expect not only to get it back in its entirety, but also to make a lot of profit. I didn't expect it either."

Gao Jian smiled and said nothing.

This was all carried out under Yao Yuan's instructions. Some very coquettish operations can't be imagined by ordinary people. Only Yao Yuan's brain can produce them...

Director Lin didn't want to get to the bottom of it. What he cared most about was actually the matter of "domestic banks making profits from investment in foreign financial markets".

The major national banks in China, except Bank of China, the three major banks of agriculture, industry and construction have never made even a cent of profit in the international financial market, and in the past two years, the tuition fees have paid tens of millions of dollars...