Chapter 453 Financial War!

When Soros took action against the Hong Kong dollar, the Hong Kong financial authorities immediately intervened in the market and bought a large amount of Hong Kong dollars to maintain the exchange rate of the Hong Kong dollar against the US dollar above the psychological mark of 7.75 Hong Kong dollars.

In the first week, it did have the desired effect. But soon, the Hong Kong dollar exchange rate fell below the HK$7.75 mark. The Hong Kong Monetary Authority once again used its foreign exchange reserves to fully intervene in the market, raising the Hong Kong dollar exchange rate to above HK$7.75 again, demonstrating its strong financial strength.

Soros's first tentative attack failed in the strong defense of the Hong Kong Monetary Authority.

Under this situation, the head of the Hong Kong Monetary Authority made an emergency appointment with Fan Wubing and asked for his help.

However, the situation was still under control at this time, so although the director of the Monetary Authority was taking precautions, his mentality was still relatively relaxed. He invited Fan Wubing to have tea and chat in a tea house with a good history.

Interestingly, the owner of this restaurant is an old Beijinger from the mainland. Although he can speak Cantonese at this time, when talking to Fan Wubing, he still speaks with a Beijing accent and a Beijing accent.

The boss seems to know the director very well. Maybe they receive guests from the mainland and leaders often come here. The boss personally arranged for the boys to serve them tea, and then said, "To drink good tea, you must have good water. Speaking of this water, you have to talk about Emperor Qianlong of the Qing Dynasty. Legend has it that Emperor Qianlong made a In terms of water method, he made a silver bucket to identify the best water in the world. The water with light weight is better. The result is that the water from Yuquan Mountain in Beijing is the lightest and ranked first, the water in the center of the Yangtze River is second, and Huiquan is the third spring. Fourth. So Emperor Qianlong designated the water from Yuquan Mountain as the water used in the palace. However, what should be done if the water from Yuquan Mountain was left in water bottles for a long time and the water quality would change? Put it into the urn and stir it vigorously. After stirring, the light water from the Yuquan Mountain will float to the top, and the other water will naturally sink to the bottom and become the washing water. "

"Oh, there is such a thing?" Fan Wubing had never heard of such a thing, so he couldn't help but asked curiously, "Then what kind of water do you use here?"

Seeing that Fan Wubing was interested in what he said, the boss happily boasted, "The shop also uses the water washing method. I made four sand tanks. In the first sand tank, half a tank was placed in the four layers above and below. The cobblestones are covered with white and thick Baiyan sand from the Taizitan area. A layer of bark is spread on the sand. The river water pours from the mouth of the tank. There is a small hole underneath, and a bamboo pipe is inserted. The water flows in from the embroidered pipe. The second water tank under the stone steps. At the bottom of the second water tank, there are seven fist-sized pockmarked pebbles with holes all around, and then there are about thirty small walnut-sized ones. The pockmarked stones are then covered with white eye sand and brown bark, and flow into the third sand tank. At the bottom of the third sand tank, there is a layer of small pockmarked pebbles about one foot thick made of sintered Qinggang tree. After finishing the charcoal, put a layer of charcoal essence that has a fire-clearing effect on the charcoal. Then, spread river sand and bark on the charcoal to let the water flow into the fourth water tank.

In this way, the already good river water

After being filtered layer by layer in four sand tanks, it becomes very pure and is naturally good for making tea. "

Fan Wubing raised his glass and took a sip. Sure enough, I felt that it was different from what I usually drink. He couldn't help but praise. "It is indeed extraordinary. I have drunk many times in Beijing. But I have never seen someone who is as dedicated to his career as you, boss."

"That's a compliment. That's a compliment. The guests must be comfortable. Recommend a few more friends to support me. I can't thank you enough." The boss laughed. When you are proud of yourself, you don’t forget to bring in business for yourself.

Wait until the boss leaves. The director then said to Fan Wubing. "The financial tycoon Soros wants to make Hong Kong follow in the footsteps of Thailand. He is coming with force. People in Hong Kong are panicked. The stock market is unstable. They are very worried. Although this time the attack was defeated by us, but based on past experience, Soros is definitely not The kind of person who is willing to give up easily. He is making large forward purchases of Hong Kong dollars and is ready to pay more attention to the glory of England and Southeast Asia. He hopes that Mr. Fan can help save the crisis."

After Fan Wubing was polite. Analyze it to him. "Soros's decision this time is not a wise one. Because he did not take into account the mainland China behind Hong Kong. The foreign exchange reserves of Hong Kong and mainland China amount to more than 200 billion US dollars. Including Taiwan and Macau, the foreign exchange reserves are no less than 374 billion U.S. dollars. Such a powerful force is not comparable to that of England and Thailand. The chance of winning this time is not high."

"Although the top management is relatively confident, when Soros attacked the Thai baht, hundreds of billions of dollars of funds were concentrated in Taiwan and Macau. We will not be able to use them in a short period of time. Although there are two thousand dollars in the mainland and Hong Kong It’s impossible to invest all the billions of dollars in foreign exchange reserves into this financial war,” the director explained to Fan Wubing.

"I understand this too. Otherwise I wouldn't be able to stay on Hong Kong Island."

He nodded.

For Hong Kong, maintaining the fixed exchange rate system is a guarantee to maintain people's confidence. Once the fixed exchange rate system fails under the impact of international hot money led by Soros and others, people will lose confidence in Hong Kong, thereby destroying Hong Kong's prosperity.

At this important moment when Hong Kong has just returned to China, protecting the stability of the Hong Kong dollar's exchange rate is an important manifestation of the SAR leadership's ability to govern and an important sign of enhancing Hong Kong people's confidence in the SAR government. Therefore, safeguarding Hong Kong's currency stability is destined to be a life-or-death battle. In a life-or-death battle, the Hong Kong SAR government will fight back at all costs against any challenge to the Hong Kong dollar.

"If Soros continues to attack the Hong Kong dollar, the SAR government will make a corresponding statement and fight to the end." The director said to Fan Wubing.

After listening, Fan Wubing replied, "Since you have made this decision, you should make a statement as soon as possible. On the one hand, it will make Soros afraid to act rashly, and on the other hand, it can also enhance the confidence of Hong Kong people. Waiting until the other party takes action before announcing it seems to be passive."

"Mr. Fan's intention is good, but I think that it is not the end of the road yet. Intervening in the financial market too early will also affect investment confidence." The director expressed his embarrassment.

"If you don't make a decision, you will suffer from the chaos." Fan Wubing replied, "I am also a genius with excellent economic skills. Why do you hesitate to change your situation now? This is not the style of business."

"It's hard for me to say this-" The director said bitterly.

Tung Chee-hwa's life experience is also very colorful. His father, Tung Chao-Yun, was a generation of shipping tycoon. In 1982, Tung Chao-Yun died of a heart attack. In addition, the world shipping industry declined, the cargo tonnage was in excess, and the ship price plummeted. His family company, Orient Overseas, failed to respond in time, resulting in a sharp drop in performance. Tung Chee-hwa owed a huge debt of more than 20 billion Hong Kong dollars.

In 1986, Henry Fok stepped forward to invest 120 million US dollars to save Orient Overseas. In May of the same year, he announced the reorganization of the company. In the new Tung Group, he lost control and became an employee from the boss. He then borrowed 250 million yuan from five banks, led by the Bank of Tokyo.

In 1991, with the efforts of, Orient Overseas finally turned losses into profits, with a profit of 9.8 million US dollars.

By the mid-term results of 1994, Orient Overseas' operating profit increased eightfold to 40 million US dollars, finally saving the family business and turning from a poor man into a rich man.

The election of Tung this time is inseparable from Henry Fok's strong recommendation.

Fan Wubing was more aware of this process, so there was this discussion.

Although the two did not reach a conclusion on the policy talks, Fan Wubing still agreed to the SAR's request, indicating that he would contribute to the stability and prosperity of Hong Kong in his own way. Under this situation, the SAR also changed its previous decision to withdraw Fan Wubing's funds, and instead hoped that he could inject more funds to protect the Hong Kong dollar.

However, Fan Wubing still had some concerns in his heart. He knew very well that Soros's attack on the Hong Kong dollar was actually a trick to attack Pei Gong.

The Hong Kong dollar has been pegged to the US dollar since 1983, with 7.8 Hong Kong dollars to one US dollar. It is obviously not feasible to use the US dollar to attack the US dollar. So why did Soros do this? In the original history, he shorted the Hang Seng Index under the pretext of attacking the Hong Kong dollar, causing the Hang Seng Index to fall from 18,000 points to 6,000 points, which severely hit the Hong Kong economy.

From this perspective, Soros's Asian sniping operation was basically a complete victory.

However, the SAR government is only focusing on defending the Hong Kong dollar at this time. To maintain the stability of the stock market, the energy required is too great. Even if the SAR government does its best, it is difficult to accomplish it. Or the top ten families in Hong Kong can work together to achieve this goal.

However, Fan Wubing also noticed that, let alone whether the top ten families can work together, even if they can work together to support the market, there are too many bubbles in the Hong Kong stock market now, and they must be squeezed.

In Fan Wubing's opinion, the funds of the SAR are enough to maintain the stability of the Hong Kong dollar market. It is enough to support them with a maximum of 20 billion US dollars to defend the Hong Kong dollar. The most urgent task is to prevent Soros from taking too much money from the Hang Seng Index.

Now the Hang Seng Index is running at a high level and there is a risk of falling at any time. Although some people have shouted that the Hang Seng Index will exceed 20,000, it is obviously unrealistic, especially under the current economic situation.

Fan Wubing thought to himself that the decline of the Hang Seng Index was already expected. If he wanted to support the market, it would cost him some money. He might as well make a plan in advance and short the Hang Seng Index. He could recover some losses later, or even make a big profit.

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