Chapter 742: The Biggest Banking Crisis in Hong Kong's History

Chapter 742 The biggest banking storm in Hong Kong's history!

September 12, 1982.

Sunday.

19:00 p.m.

Headquarters of Overseas Trust Bank Building, Hong Kong Island.

Huang Changzan, chairman of Overseas Trust Bank, the third largest bank in Hong Kong, called the police and surrendered himself before leaving get off work. He was taken away by ICAC staff for investigation at 19:30 that night.

This scene was not only seen by the executives and employees of Overseas Trust Bank, but also by citizens outside.

That night, news about the check scandal of Overseas Trust Bank and the loss of Overseas Trust Bank in the real estate industry was spread, which immediately shocked the whole of Hong Kong.

As the third largest bank in Hong Kong, Overseas Trust Bank has 62 branches in Hong Kong in addition to three banks and two financial companies, which can be said to be spread all over the streets of Hong Kong Island, Kowloon and the New Territories.

Compared with the problem that broke out at Hang Lung Bank a few days ago, Hang Lung Bank only had 28 branches, and all of them experienced such a bank run. Now, Overseas Trust Bank has more than 60 branches in Hong Kong, involving hundreds of thousands or even hundreds of thousands of depositors.

Many depositors with Overseas Trust Bank immediately went to various branches of Overseas Trust Bank to queue up overnight after receiving the news that night. No matter what, they had to get their deposits back from the bank tomorrow.

In addition.

It was reported in the market that in addition to the serious debt crisis of Overseas Trust Bank, it was also reported that Sun Hung Kai Bank, Ka Wah Bank, Wing On Bank, Union Bank, Kangnian Bank, etc. also had similar debt problems.

There were also many debt problems reported about Bank of East Asia in Hong Kong, and even Hang Ti Bank.

Now, can other depositors in Hong Kong, especially some small and medium-sized banks, still sit still?

That night, many depositors immediately went to the branches of major banks to queue up and prepare to withdraw money tomorrow morning.

This situation seems to be more serious than the outbreak of Chinese banks in the 1960s, and the impact and involvement are even greater.

. . .

22:00 in the evening.

Yang Ming is in the study.

Mai Lisi has come.

These two days.

Mai Lisi has bought shares of Overseas Trust Bank from Zhang family Wu Huirui, Zhang Chengzhong, and Zhuang Qingquan on behalf of him and Empire Group, which means that Empire Group is now the only major shareholder of Overseas Trust Bank.

As for Huang Changzan, it was Yang Ming who asked him to report to the police and surrender.

Now, under the leadership of Huang Changzan, not only Overseas Trust Bank has a debt crisis, but also other Chinese banks in Hong Kong.

The debt crisis of Chinese banks in Hong Kong has officially erupted and punctured.

"Boss, now Hong Kong has begun to see a bank run."

Mai Lisi has learned that all major banks in Hong Kong, and even branches of major banks, have queues for bank runs.

All this is within Yang Ming's expectations and control.

"Those banks have problems themselves, and now it is just puncturing their debt bubble in advance."

For Yang Ming, these are nothing.

Many people may not be able to sleep tonight.

The Governor of the Governor's Office, Mr. MacLehose, the Chief Secretary, Mr. Youde, the Financial Secretary, etc., as well as Mr. Shen Yi, the Chairman of Huifeng Bank, and Mr. Pao John, the Vice Chairman.

None of them expected that a few days ago, Hang Lung Bank had a bank run because of Xie Liyuan Gold Shop and Dalai Finance.

They were afraid of a domino effect, but soon after the Empire Group spent 100 million Hong Kong dollars to acquire Hang Lung Bank and injected 500 million Hong Kong dollars, Hang Lung Bank recovered. MacLehose, Mr. Youde, Mr. Shen Yi and others breathed a sigh of relief, thinking that there would be no other reactions.

Tonight, Huang Changzan, the Chairman of Overseas Trust Bank, the third largest local bank in Hong Kong, directly called the police and surrendered himself. The whole of Hong Kong was reported that in addition to the check wheel scandal, Overseas Trust Bank had already suffered a serious deficit. It was unknown how big the hole was, and it even affected other Chinese banks in Hong Kong.

MacLehose could not sleep, Mr. Youde could not sleep, and Mr. Shen Yi could not sleep even more.

The bank run in Hong Kong in the 1960s had a very large impact.

When Mai Lisi, Shen Yi and others recalled it, it was still very scary.

Those people couldn't sleep.

Yang Ming was very comfortable.

After Mai Lisi left.

Yang Ming came to Sarah and Diana.

Sarah and Diana knew that Sir Yang's Empire Group had just acquired a Chinese bank, Hang Lung Bank, a few days ago. Knowing that Sir Yang was busy at work, they didn't ask Yang Ming to see them often.

Now Yang Ming came and accompanied Sarah in the garden of the Mid-Levels Villa to blow the wind. When Sarah looked into the distance, she was attracted by Sir Yang's eyes.

"Sir Yang, stay with me tonight." Sarah said a little embarrassedly.

Yang Ming looked at each other, and Sarah seemed to be more shy.

. . .

It was already early in the morning when Yang Ming left Sarah.

Yang Ming didn't stay until the next morning. Now Sarah had fallen asleep and left her a kiss.

When Yang Ming took a car back to the Repulse Bay Mid-Levels Villa.

Rest for a few hours.

Early the next morning, Yang Ming got up.

It was already past seven in the morning.

The weather in Hong Kong was still very good. When Yang Ming went to the swimming pool to swim, Yang Jirong looked at Yang Ming worriedly and said, "Peter, a big thing happened in Hong Kong last night. The Chinese banks in Hong Kong have all experienced a debt crisis and a bank run has begun. I wonder if the funds of the Empire Group are safe?"

"Daddy, don't worry, the funds of our Empire Group are very safe."

At this time, Yang Ming sat down, and Ah Zhu brought the newspaper over. Yang Ming noticed that the branches of major Chinese banks in Hong Kong's Central District, Kowloon, New Territories, and even Heng Ti Bank, Bank of East Asia, etc., had very serious queues to withdraw money.

These Hong Kong citizens lined up outside those branches overnight, waiting for the bank to open today, and they rushed in to withdraw money.

For many Hong Kong citizens, even if they may only have tens of thousands or even hundreds of thousands in the bank, these are the hard-earned money of their family. What if their deposits are really all lost and cannot be withdrawn, then doesn't it mean that all the hard-earned money is gone?

Yang Ming noticed that these newspapers and magazines were all reporting like this.

Following the Chinese bank craze that broke out in the 1960s, Hong Kong is now experiencing the largest Chinese bank craze in history.

Unprecedented banking storm!

. . .

Yang Ming finished breakfast with his parents, and he did not stay any longer.

He got on the bus and drove to the Empire Group headquarters.

Just arrived at the Empire Group.

At this time, Lin Xiuzhi, Mai Lisi, Tang Shilian and others were waiting for him.

"Boss, it's crazy outside now. Many people are queuing up to withdraw money from the bank, including some employees of our company who have asked for leave to withdraw money."

It is obvious that the citizens of Hong Kong no longer have any trust in those Chinese banks.

Just when Hang Lung Bank had a debt problem, the third largest overseas trust bank in Hong Kong had a check wheel scandal and a hole problem caused by large-scale losses.

Even Huang Changzan's words before surrendering were spread, saying that all Chinese banks in Hong Kong have debt problems, and Chinese banks in Hong Kong are not safe, but many are hidden.

In this case, how can the citizens of Hong Kong dare to rest assured?

Chapter 5!

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