Reborn Tycoon Rise

Cultural Oriental Hotel, in the presidential suite:

Newbijian and Bao Fuda had already arrived. They discussed with each other for a long time. Suddenly, Newbijian looked at his watch, frowned and asked, "It's already 10 minutes late. What are Xu Zhi and Sides doing!"

Bao Fuda also subconsciously looked at the door, but there was no movement, so he said: "Maybe there is a traffic jam."

Niubijian calmed down for a while, thinking about how to convince the two people who were about to meet.

"Dong dong dong..." There was a knock on the door and the waiter's voice: "Mr. Xu, please come inside."

Xu Zhi and Yuan Tianfan walked in and immediately saw Niubijian and Bao Fuda sitting on the sofa by the window.

"Xu Sheng, where is Mr. Sides?" When Xu Zhi came over, Niubijian stood up and asked.

Xu Zhidao: "Mr. Sides has something to do and can't come, but he promised that I can fully represent him when he comes here today."

"Does Thaders have that power?" Newbikin asked with a frown after some people sat down.

If Xu Zhi asked Sides to represent him, that would be no problem, because Bank of East Asia is privately owned and all rights and interests are only responsible to Xu Zhi. But the reverse is not true. Sides's status in the Xiangjiang business community is second only to Shen Bi, but in the end he only works for Standard Chartered. Not to mention the board of directors, there are many people above him in Standard Chartered's UK headquarters. Land currently owes Standard Chartered billions of Hong Kong dollars, and Newbijian is also worried that Sides may not have the right to represent Standard Chartered, let alone an outsider now.

Xu Zhi took a document from Yuan Tianfan, handed it to Niubijian, and said, "Mr. Niubijian, I think this document can give you the answer you want!"

"Oh." Niubijian took it and looked at it carefully, but his expression soon changed: "Unexpectedly, Xu Sheng actually acquired this business of Standard Chartered Bank. It seems that the plan is not light."

Bao Fuda was a little confused, but he finally understood after Niubijian gave him the documents. Land's acquisition of the Hilton Hotel and subsequent demolition costs totaled HK$2.93 billion, of which HK$2.5 billion was a loan from Standard Chartered Bank. However, this is no longer the case. Bank of East Asia bought the loan business. In other words, this money Now Land owes Bank of East Asia.

Newbijian said: "Did Xu Sheng spend a lot of money?"

Xu Zhi smiled and said: "It's okay. Compared with Disney and the 20 billion Hong Kong dollars it plans to invest in Hong Kong, this is nothing."

Niubijian and Bao Fuda suddenly felt bad. Now, the opponents they faced were too powerful. Not to mention Xu Zhi's other industries, the net profit announced by Hutchison Whampoa some time ago shocked all banks, including HSBC. Hong Kong people and British-owned foreign companies.

In particular, some British-funded groups are most worried that the tiger's mouth of Chinese capital will open to them again. You must know that at this moment, they are facing an economic crisis that only occurs once in ten years, and they do not have much resistance.

The top management of Jardine is not too worried. The first is that they believe that Yihe Mutual Control is impregnable. The second is that Niubijian and others believe that Xu Zhi acquired Disney and assumed billions of dollars in debt while also paying off the debt. To deal with a large group with serious losses, it is impossible for too much money to move eastward to Hong Kong.

Even though Hutchison Whampoa has made a lot of money recently in the US stock market and the Hong Kong dollar exchange rate crisis, Xu Zhi once promised to invest 200 Hong Kong dollars to enter the construction industry. Although he can rely on financing channels, he will inevitably have a lot of investment. The investment was enough to consume Hutchison Whampoa's huge profits.

However, Niubijian never dreamed that Xu Zhi could actually get the loan contract for his company from Sides. If he wanted to convince the senior management of Standard Chartered in the UK, Xu Zhi would have to spend real cash to succeed.

But now is not the time to discuss the other party's motives. We can only take one step at a time. So, Niubijian said: "Okay, in that case, it will be more convenient. Xu Sheng, I think you should also know that the Jianing Group's The crisis has affected many companies across Hong Kong. Whether it is Land or your Bank of East Asia, it has been affected. The Hong Kong government has issued a notice and hopes that we, the affected companies, can fully cooperate and tide over the difficulties together, so I invite you to come today. Just to discuss this matter.”

The impact of the turmoil on Jia Ning was too great. In addition to its own stock being reduced to a pile of waste paper, the banks and real estate companies it cooperated with were also affected, and their stock prices fell. Some financial institutions even suffered another run. However, the Hong Kong government and HSBC intervened in time to suppress the storm that continued to expand.

The credibility of the Hong Kong government has also been greatly reduced by the Carin turmoil. The Hong Kong dollar exchange rate turmoil has not yet passed, and such a shocking scam broke out. The entire financial regulatory agency in Hong Kong is seriously suspected by international peers and large international financial institutions.

In order to prevent the entire Hong Kong economy from being further impacted, the Hong Kong government entrusted HSBC to provide low-interest loans to some affected companies. It also hopes that the creditors of these companies will be appropriately relaxed in pursuing loan repayments.

However, this is just persuasion. Jiani's fraudulent behavior is not a force majeure in the contract. If the impact is not significant, it can still give face to the Hong Kong government. However, Bank of East Asia is facing billions of Hong Kong dollars in loans. It would be better to be more relaxed. At least a loss of HK$100 million, not to mention that the other party is the Jardine Matheson Group. You never know how many cards this Hong Kong’s largest consortium has behind it.

Xu Zhi said with a smile: "It's natural. I have always cooperated with the Hong Kong government's requests. The Bank of East Asia has delayed the loan funds of five small construction companies and reduced the interest. These small businesses finally received the loan from Jia Ning." For a construction contract, I advanced tens of millions of dollars, but something like this happened. It doesn’t matter if their company goes bankrupt, but it’s pitiful that the hundreds of construction workers below can’t get paid.”

If you just look at the data when it comes to the bankruptcy of Jianing, the biggest losses may be some large banks, financial institutions or former partners of Jianing Group such as Land, which can easily cause losses of hundreds of millions or even greater.

But in fact, these companies are all very large enterprises, and their ability to resist risks is very strong. Coupled with the help of government departments, they can survive even if they suffer heavy losses.

For example, Malaysia's Yu Min Finance is backed by one of the country's largest banks and also has government capital. Although it was defrauded by Chen Songqing of almost US$500 million, it has survived well into the 21st century.

Those who are most affected are those small companies and a large number of construction workers. Chen Songqing's deception ability can deceive HSBC and the Hong Kong government. These small companies that cooperate with him are no rivals, let alone Jianing at that time. The group is one of the top consortiums in Hong Kong. If construction companies want to take on projects from real estate companies, most of them can only advance the funds themselves.

This is not just the case for Jianing, but also for Cheung Kong Holdings, Land and Evergrande. Party A is not called dad for nothing.

After the bankruptcy of Jia Ning, how can these small construction companies get back the funds they advanced before? Even if Jia Ning's assets are auctioned to repay debts in the future, the first priority for repayment must be large institutions like HSBC.

If a construction company loses money, the workers may not even be able to get living expenses. After the Bank of East Asia learned that several of the construction companies it cooperated with were cheated, it provided sufficient preferential policies and arranged for these companies to take over part of Evergrande and Part of Hutchison Whampoa's construction business is to ensure that these companies and the construction workers below can survive this crisis safely.

But that's all that can be done for the time being. Jianing's bankruptcy has affected tens of thousands or even more ordinary families, and no one has the ability to cover so many people at once.

"Yeah, no one would have thought that Chen Songqing would actually pull such a big scam." Bao Fuda also said beside him: "I don't know how many people will be deceived and lose their money."

Xu Zhi smiled and said: "Indeed, but with the capabilities of the Yihe Group, Jia Ning's influence should be nothing, right?"