Reborn Tycoon Rise

The difference between 7.8 and 9.6 is so huge that most people cannot accept it.

After the Hong Kong government announced the new linked exchange rate, I don’t know how many people will hang their heads. A few days ago, they were happy that they had exchanged U.S. dollars. But now, the government has set the exchange rate. In an instant, they At least 20% of the capital was lost.

Some of those who sold their houses to exchange for U.S. dollars, or wanted to take advantage of the Hong Kong dollar crisis to short-sell the Hong Kong dollar, lost almost everything.

The Hong Kong dollar exchange rate crisis seems to be over, but there are still undercurrents behind the scenes. There are forces inside and outside Hong Kong that still refuse to give up and continue to short the Hong Kong dollar. As long as all the US dollar foreign exchange held by the Hong Kong government is consumed, then the final link will be The exchange rate can only collapse.

At the same time, within Hong Kong, even if the exchange rate stabilizes, many people intend to immigrate. Before, the exchange rate fluctuated greatly, and there were also great restrictions on exchange. Many people did not exchange enough U.S. dollars.

Now, the Hong Kong government has introduced new exchange rate regulations and has prepared enough foreign exchange, so more people are going to banks to exchange foreign exchange. This has put great pressure on the Hong Kong government and the British government behind it.

After entering the 1980s, the British government's economy also encountered many problems. Gross domestic product, industrial production and foreign trade fell from second only to the United States in the 1950s to fifth place, behind West Germany, Japan and France.

At the same time, the country was also plagued with internal problems, including a serious fiscal deficit, a large number of state-owned enterprises suffering losses, and serious internal inflation. After Mrs. Thatcher came to power in 1979, she began to reform state-owned enterprises and encountered waves of strikes.

Externally, although they won the Battle of the Falklands, they only won face but lost face. The entire battle only lasted 74 days, but it cost the British army 7 billion US dollars in military expenditures. With such data, how can the British still have the ability to compete in Asia? A war, not to mention opponents are also of different levels.

The current issue of the Hong Kong dollar in Hong Kong is forcing the UK to come forward to solve it. Economic pressure has forced the British government to make up its mind for the first time and start negotiations with the mainland government on the formal return.

Of course, all this has little to do with Xu Zhi's current situation, because in the past half month, the Bank of East Asia converted 1.3 billion U.S. dollars into 12.48 billion Hong Kong dollars, of which 10.56 billion Hong Kong dollars was exchanged for Hutchison Whampoa's 1.1 billion U.S. dollars, and the rest The HK$1.92 billion is Xu Zhi’s additional expenditure of US$200 million.

According to the current linked exchange rate, the US$200 million provided by Xu Zhi, after conversion, earned almost HK$400 million, while Bank of East Asia earned enough handling fees. The 5% handling fee almost generated a profit of HK$600 million. , which is equivalent to the net profit of the entire Bank of East Asia for two years.

However, compared with Hutchison Whampoa, these figures are just a drop in the bucket.

Two years ago, Hutchison Whampoa raised a total of 3 billion Hong Kong dollars from the stock market. After the investment from General Electric in the United States and this foreign exchange exchange, it has now directly turned into 10.56 billion Hong Kong dollars. Even if the annual 13% interest is removed, in the past two years, , the net profit from this investment was as high as HK$6.78 billion. In terms of cost, not a penny was spent, a real net profit!

Hutchison Whampoa is a listed company and needs to publish operating data every quarter. According to the Listed Company Law, the operating data for the third quarter (July-September) needs to be released before November. However, when Hutchison Whampoa exchanged Hong Kong dollars through the Bank of East Asia, Many small shareholders of Hutchison Whampoa jointly opposed this plan. They believed that the Hong Kong dollar would become a piece of waste paper. Hutchison Whampoa's biggest mistake was to convert the huge US dollars in its hands into Hong Kong dollars.

Regarding these people, Xu Zhi of course ignored them and directly made a voice through some channels: Those who do not want to hold Hutchison Whampoa stocks can sell them directly.

Although these people were ignored, many media outlets at the time still discussed the matter openly, and many people agreed with these shareholders.

Therefore, when Hutchison Whampoa held more than 10 billion Hong Kong dollars, it released this information in advance even though it was not time for the obligatory announcement.

"6.78 billion Hong Kong dollars!" At this time, the whole of Hong Kong was numb to the return on investment from the richest man. The same project had a net profit of 2.2 billion Hong Kong dollars more than a month ago, but now it has become 6.78 billion. Although the Hong Kong dollar has depreciated, it is still The shocking effect of this ratio number cannot be lessened.

Affected by this, Hutchison Whampoa's market value soared by 40%, with its total market value exceeding HK$20 billion, surpassing Hang Seng Bank, and second only to HSBC in market value in Hong Kong.

However, Hutchison Whampoa is in a unique position in the Hong Kong stock market. Although the entire market was pulled up by Hutchison on the day the news was announced, it only lasted one day. At this moment, it had just experienced a major depreciation of the exchange rate, and the entire stock market was still not stable. optimism.

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While Hutchison Whampoa was making a fortune, another company in Xiangjiang fell into hell.

In early 1982, the Industrial and Commercial Daily described the top ten Chinese-funded consortiums in Hong Kong for the first time. Among them, the Jiani Group ranked at the top of the list, with more than 100 subsidiaries, including Jiani Real Estate, Vinda Shipping and Chang Life Insurance. The scale of listed companies is close to that of Jardine Matheson and Swire, the major British banks with a long history.

From its registration in 1977 to being one of the top ten financial groups in Hong Kong in 1982, the development of Jianing Group can be described as miraculous. However, Jianing Group only focused on expansion and did not consolidate its existing achievements. Of course, it may also be the case in all business transactions. There are too many elements of fraud involved to solidify, and a scam requires more scams to stay afloat.

By the end of 1982, the god of luck no longer favored Chen Songqing. The internal and external economic environment in Hong Kong had changed, banks had reduced loans, and Jianing Group was also in trouble.

Zhong Zhengwen of the Ally Yida Group absconded with the money, and the capital chain of the Caring Group collapsed. In early 1983, Caring's three listed companies, Caring Real Estate, Vinda Shipping and Chang Life Insurance, suspended their listings. Chen Songqing persuaded HSBC to provide a loan of HK$250 million to help Jiani reorganize its debt.

In order to increase the success rate of the debt restructuring plan, Chen Songqing invited the former chairman of HSBC to join the Jiani Group for HK$100,000 in January, and gradually sold its assets to reduce debt.

However, in July, an accountant from Xiangjiang Yumin Finance was murdered and thrown into the wilderness. The police quickly caught the murderer and contacted Chen Songqing.

Although there was not enough evidence, the murder case still led the court to sign a search of the entire Jiani Group. The police later discovered that Jiani owed Yumin Finance nearly 500 million U.S. dollars. At this point, the truth about Jiani's huge source of funds was revealed. , Chen Songqing is neither a South Asian rich man nor a representative of Moscow, but comes from a Malaysian financial company.

By September, the Hong Kong government discovered that Carnegie Group owed more than HK$10 billion in debt to Yumin Financial, HSBC, Hang Seng Bank and other Hong Kong financial institutions.

This is one of the biggest scams in the history of modern human business. On September 18, the police forcibly blocked the entire Jiani Group and obtained more than one million documents. On October 3, Chen Songqing, chairman of Jiani, was arrested at his home. Subsequently, many top executives of Jiani were arrested or fled.

The police action completely shattered Jiani's restructuring plan. On the 6th day after Chen Songqing was arrested, Bankers Trust, one of the creditor banks, applied to the Hong Kong High Court to liquidate Jiani and received approval. At this point, the once-prominent Jianing Kingdom completely collapsed.