Hong Kong's new giants

Chapter 424 [Bank VS Real Estate Developer]

The news that the real estate developers joined hands with the Hong Kong government to "confront" the news was published in various newspapers the next morning.

As the Financial Secretary, McGuller was naturally told about this by his assistant, and immediately lost his temper.

McGill is an old official in the colony. He was hired by the Hong Kong government as an administrative officer in 1966. He was only 26 years old at the time, and he had only graduated from Birmingham Business School with a bachelor's degree in philosophy four years ago.Successively served as Assistant Chief Secretary, Assistant Financial Secretary, Director of the Trade Administration, Secretary of Industry and Commerce (not the third department), and Deputy Financial Secretary.

Now that he was newly appointed as the Financial Secretary, he had never expected to encounter such a difficult problem.Of course, as an official who has served in Xiangjiang for a long time, McGaule is well aware of the strength of the real estate developers in Xiangjiang. If the public opinion is not too great, he does not want to attack the real estate with great fanfare.

As the financial secretary, he is of course very concerned about fiscal revenue, and he is indeed worried about the threat of real estate developers-investing overseas.

However, now he has to move back to Yicheng, otherwise he, the newly appointed Financial Secretary, will have no prestige and become a joke of the citizens.

Go to war directly with real estate developers?
Obviously impossible, others did not violate any laws, and even if they violated, the Hong Kong government would not dare to openly suppress all real estate developers.

Soon, he said to his assistant, "Immediately invite Brewers, head of HSBC Bank, and Li Guowei, chairman of Hang Seng Bank, to my office and tell me that I have something urgent to discuss!"

"Okay, Director!"

About an hour later, Powell and Li Guowei came to the Financial Secretary. HSBC Bank is the "quasi-central bank" of Hong Kong, and now it is the rotating chairman of the Hong Kong Bankers Association. Hang Seng Bank is a subsidiary of HSBC, and the Finance The company is the immediate boss of HSBC, so the relationship between the three can be known.

McCall said, "Did you see the news in the morning?"

Pu Weishi nodded and said, "I was also told by my assistant about such a big matter, and I found it a bit unbelievable. The real estate price has soared this year, and they are still not satisfied!"

Li Guowei also echoed: "They purposely used the name of entertaining provincial officials, but they actually aimed at this 'crackdown on speculators' policy. They even revealed that they planned to use their own financial company in private to carry out a strategy of high-value mortgages. Apparently, the banks are also targeted!"

Hang Seng Bank is no longer the Hang Seng Bank of the past. The run on Hang Seng Bank in the 60s was when Li Quowei negotiated with HSBC. Since then, Li Quowei has truly become a member of HSBC.At the beginning, the veterans of Hang Seng and HSBC got along peacefully. Although HSBC took 51% of the shares, it only dispatched 4 directors and did not interfere too much with the operation of Hang Seng Bank.

But over time, the veterans of Hang Seng found that HSBC first listed Hang Seng Bank in the 70s, and then bought shares in the stock market aggressively, expanding the shareholding to 61%. As a result, the influence of the veterans of Hang Seng has weakened.

The fact is also the same. HSBC has taken a series of measures such as strengthening its holdings and supporting Li Quowei.In the end, the veterans of Hang Seng can only completely lose control of Hang Seng Bank.

McCall nodded and said, "How do you think you should fight back against them?"

Pu Weishi and Li Guowei immediately pondered. In this battle without gunpowder, the real estate developers were really strong and united.

Mai Gaole saw that the two were silent, and immediately said: "What do you think about bringing Lin Zuhui over here? He has an agreement with the Financial Secretary. If the China Commercial Bank is managed well, he can give priority to buying overseas trust banks at a price of 25 billion. Now, I only need to ask him to let New Era Group hold a press conference and agree to abide by [-]% of the mortgage. I believe that he will also weigh the pros and cons!"

If Lin Zuhui was at the scene, he would not be allowed to scold Mai Gaole. This was the condition negotiated at the beginning, and the Hong Kong government dared to backtrack on it, using it to threaten itself.

Pu Weishi actually didn't want Lin Zuhui to take over the overseas trust bank. After all, Lin Zuhui was too good at doing business. He was worried that Lin Zuhui's bank would affect HSBC and Hang Seng in the future.But at the time when China Commercial Bank, others paid out 50 billion in real money, who could possibly influence the rise of others!
"This trick is not impossible, it immediately disintegrated the Real Estate Developers Alliance!"

McGuire nodded and said, "Also, I hope you will come forward to advise all real estate developers not to fight against the Hong Kong government. If they insist on going their own way, their other real estate plans will not get the support of the bank!"

Pu Weishi and Li Guowei were shocked immediately, McGallo was taking the entire banking industry to fight against real estate developers!

However, as a quasi-central bank, it is impossible for HSBC not to agree and not to support McGulle;
Precisely because HSBC is a 'quasi-central bank', it must keep pace with the Financial Secretary.

"Okay, Director!"

But Lin Zuhui was on the phone, when he was warned by Pu Weishi, he immediately wanted to go back - it's okay if you don't threaten me, if you really threaten me, you HSBC is useless!
He is not another real estate developer, he needs the support of the bank, he has his own bank, and he can earn a lot of cash financially, so he can lend money from the bank to his own company.

But on second thought, he might not be afraid of banks, but other real estate developers must be!

They will definitely bow their heads, why do they stand alone?
Moreover, if it is reported by the news and he is alone against the Financial Secretary, then the "good reputation" he has finally built up may be ruined.

What's more, Pu Weishi also relayed the words of Mai Gaole about the issue of overseas trust banks, which made Lin Zuhui a little worried and annoyed.He actually doesn't believe that the Hong Kong government will tear up the agreement, but he doesn't want to gamble.

Therefore, after hanging up the phone, Lin Zuhui immediately communicated with Zheng Yutong and others.

Sure enough, everyone sighed, expressing that they didn't want to make too much trouble with the bank, and they didn't say that Lin Zuhui opened the bank, which means compromise!

That being the case, Lin Zuhui suggested that everyone jointly hold a press conference to announce the real estate developer's decision.

Everyone agrees!

The next day.

Cheung Kong, New Era, New World, Xindi, Henderson and other large real estate companies jointly held a press conference, expressing their decision to accept [-]% of the bank's mortgage and not intending to contradict the bank.

Real estate developers may not be afraid of the government, but they are definitely afraid of banks.

Without bank support, any real estate group with strong financial resources cannot operate normally.

HSBC is the rotating chairman of the Hong Kong Association of Banks, acting like the government's central bank.

Those who know the times are Junjie!

Of course, this is just a compromise on the surface, and it can be regarded as selling face to the newly appointed financial secretary and the bank.

Actually?

First of all, the Hong Kong government may not be able to be strict in the implementation process;

Secondly, this time, HSBC and Hang Seng Bank also expressed their views. Most banks are actually responsive to real estate developers.Therefore, it is only logical that real estate developers colluded with some banks to increase mortgages without authorization.

Finally, real estate developers generally believe that too much control is not conducive to the development of the property market.

This matter has come to an end, but the turmoil in the Xiangjiang property market has just begun!
When people find that the houses in Xiangjiang not only have not been suppressed, but continue to skyrocket, it will be the second round of 'war'!

At that time, the citizens will not complain about the real estate developers, but the beneficiary groups including the Hong Kong government.

Wait and see!

This incident reminded Lin Zuhui that the New Era Group needs to speed up its development—comprehensive development!
The next public outrage will never be so small!

Moreover, at that time, the largest real estate developer, Shuaihu, will be the best candidate!
So he may be the most angry object of the citizens!

He has to do some preparations!
'Prospering Hong Kong with the flow of Hong Kong', 'Prospering Hong Kong with comics', 'Prospering Hong Kong with traditional Chinese medicine', and 'Integrated New Era Group' are Lin Zuhui's solutions.

Monday, October 11.

At the core high-level meeting of New Era Group, Lin Zuhui said: "From now on, regarding the purchase of land reserves, the scale will be reduced by 300%, and the land and old buildings in Hong Kong, Kowloon, Shatin, and Tsuen Wan will be given priority. At present, we will only The land reserve of [-] million square feet is less than that of Sun Hung Kai, so there is no need to be too radical, and the issue of comprehensive investment must also be considered!"

In the first ten months of this year, New Era Group purchased nearly 4 million Hong Kong dollars in land reserves almost every month. At present, it has reached 3000 million square meters, and there are still 1800 million square meters of farmland.

Purchasing nearly 4 million land reserves every month is equivalent to spending almost all of the profits from the development site and the return of land/construction costs.

At present, the New Era Group still has almost 50 billion in cash and 80 billion in debt in its accounts.

The high-level executives heard the words, and they also knew that the "Hong Kong government, banks, and real estate developers" incident that had caused a lot of trouble this time had touched the boss-he didn't want to be the first bird.

Chen Bin said: "Okay, but our land is still higher than Sun Hung Kai in terms of location and quality!"

Lin Zuhui said: "Since this is the case, let's set the tone! Moreover, we are now investing in a large number of large projects-the Tsuen Wan project, the commercial building reconstruction plan, and they also need a lot of funds. The cash flow in the company's account must be guaranteed. Enough, ready to make large-scale investment overseas and inland at any time. Xiangjiang is too small to accommodate our New Times Group.”

Everyone couldn't help being surprised. This was the opposite of the boss's strategy of "only investing in Xiangjiang". Could it be that the boss chose to reduce his investment in Xiangjiang because he cared about his reputation.

Seeing everyone's questions, Lin Zuhui said with a smile: "Of course, the main investment is Xiangjiang, which cannot be lower than 60%!"

Then everyone nodded.

Then, Lin Zuhui said to Lu Donglai: "Give me three times the talent pool of New Times Group (Huaxia), ready to expand to the mainland at any time!"

Everyone is so familiar with Lin Zuhui's predictions, they are actually used to it. No one in Xiangjiang has the boss to make such predictions in advance and accurately.The boss said so today, he must have gotten wind of it when he went to the mainland in October.

Lu Donglai said seriously: "Okay, I know what to do!"

He had followed his boss to the mainland for investigation, and he had also heard some of the boss's plans, so it was not surprising.

In the end, Lin Zuhui concluded: "Don't worry, everyone, the effect of the Hong Kong government's crackdown on real estate this time will not be too good. The real estate of Xiangjiang is still full of momentum. Next year, we will still have a huge cash flow. So, show our passion, Seriously manage each industry. When the time is right, the entire group will explode with amazing strength."

Give everyone a bloodbath, so as not to think that the Hong Kong government and the bank have won this time.

"Yes, boss!"

Everyone really got excited. Next year, the New Era Group will reap even more, and office buildings will be acquired one after another. The status in Xiangjiang can be seen.

(End of this chapter)