The next morning, Hu Yimin's uncle Hu Xuezhai, who was the Minister of Household Affairs at that time, indeed submitted a memorial to establish the Securities Supervision Office. This was a small matter, and the cabinet approved it after a little discussion.
But what was unexpected was that the securities supervision yamen did not fall under the control of its own people. The household department had long been controlled by the minister Huang Xiaotian, and Hu Xuezhai was just an empty post. The establishment of a new yamen would inevitably involve the appointment and dismissal of many personnel.
The issue of fund allocation has always been a matter of wealth. What's more, this new yamen is in charge of securities trading. Who doesn't know how to make money by buying stocks now? Being an official of this yamen is equivalent to sitting on a golden mountain.
Well, so Huang Xiaotian immediately asked the emperor for orders in the morning and personally established a securities supervision yamen.
The Securities Supervision Yamen is under the Ministry of Household Affairs, and the chief officer is the fifth-rank official. The final candidate is Zhang Fulin, a fifth-rank doctor from the former Huguang Qingli Division of the Ministry of Household Affairs. Mr. Zhang was a Jinshi in the Wanli Dynasty. He was smooth and capable in business. He was Huang Xiaotian's
A capable officer was transferred from the Huguang Qing Li Division to the Securities Supervision Office. Although it was a horizontal transfer, it was actually moved up by half a level because the Securities Supervision Office is a relatively independent office with financial power and financial power.
With the power of investigation, you can not only collect money to make money, but also sit in court and cast lots to arrest people. It is really a rare and valuable position.
There are three things a new official should do when he takes office, and Zhang Fulin is no exception. Moreover, these three things lit by this fifth-rank official have burned Liu Ziguang's pain everywhere. The first is to locate the Securities Supervision Office in Nanjing instead of Shanghai, thus avoiding
The yamen was embarrassed to be within Liu Ziguang's sphere of influence. Secondly, it vetoed the draft suspension system proposed by the stock exchange. The last step was to deprive the stock exchange of its right to review and list. Any firm that wanted to
To be listed on the Shanghai Stock Exchange, you must go to the Securities Supervision Yamen located near the Nanjing Hubu Yamen to go through the listing verification procedures.
Liu Ziguang really shot himself in the foot. He originally wanted to use administrative means through the imperial court to intervene in the chaotic securities market, but he didn't know that he was playing into someone else's plan. He took advantage of the situation and took over the securities trading market that Hu Yimin and Peng Jinrong had worked hard to establish for a year.
Got it.
The Securities Supervision Yamen is in Nanjing, while the trading market is in Shanghai, which is very troublesome in itself. Telegraphs are not something that ordinary people can afford. They can only be used for emergency military affairs and the transmission of imperial decrees. Therefore, official documents between the Yamen are generally only
It can take 600 miles by express or canal express, and it is 800 miles from the capital to Shanghai. Even the express train takes a day and a night. I don’t know how many things will be delayed by this coming and going, but the Yamen is located in the capital.
The reasons are also very good. People keep saying that the Securities Supervision Office is a new agency and needs to always listen to the instructions of the leaders of the Ministry of Accounts. For the convenience of adults, they can only make the people of the exchange work harder.
The limit system is a system prepared to be implemented in order to protect the healthy development of the nascent securities market to curb sudden rises and falls. It uses mandatory means to stipulate that the rise or fall of all stocks in one day must not exceed 10% of the closing price of the previous day. This will enable the majority of people to
Investors will not take risks in order to make huge profits and disrupt the financial market, nor will some stocks fall from the clouds to hell in one day, causing investors to lose too much and jump into the well. This is a protection formulated by Liu Ziguang based on the securities trading rules of later generations.
policy, but was vetoed by Lord Zhang Fulin in one sentence, saying that this system would inevitably hinder the economic development of the Ming Dynasty, and he must not set a threshold for himself, because this proposal was made in the capacity of the exchange authority and not as an individual of Zhenwu Hou
opinions, so it is reasonable for people not to give face. The Shanghai Stock Exchange is only a private institution, but it is responsible for the stock issuance of countless large companies in the Ming Dynasty. It has a heavy responsibility and affects the whole body. It cannot be done without the guidance of the imperial court.
Zhang Fulin not only vetoed the suspension system, but also took back all the power to formulate trading rules. From now on, the exchange only needs to implement the policies of the China Securities Regulatory Commission, collect your commission honestly, and earn your share.
Can.
It would be even more outrageous to nationalize the right to review listings. This is a matter of life and death for the securities market. If a firm wants to issue stocks on the exchange, it must have the accounting books of the past three years inspected by Rishengchang's accounting auditors. It must make a profit every year and
Only a healthy capital mix can be listed. Otherwise, someone can just set up a firm and make money by going public. If they make enough money and run away, it will be troublesome. The people will not be told about the loss, and the brand of the exchange will be ruined. What if?
If the China Securities Regulatory Commission relaxes the threshold just to make money, then the exchange is not far from collapse.
At this point, it is difficult for the court to take back the order. Hundreds of stocks have been issued on the exchange. At this time, it is impossible to protest and give up. I can only bite the bullet and hope that the adults in the Securities Regulatory Commission will not act recklessly. Fortunately, nonsense
Yimin and Peng Jingrong are not ordinary people. One of them is a rich man in the world, and the other is a royal wife. Presumably, a small fifth-level securities supervisor would not dare to really trick the exchange into death.
In fact, the stock exchange has long been noticed by the big guys in the imperial court. Even if Hu Shangshu didn't agree with this, they would have put forward a plan to transfer the exchange to the imperial court. However, Liu Ziguang was the owner of the exchange.
The people behind the scenes didn't dare to raise it, but now Hu Xuezhai, who has a background in the Hu-Liu Alliance, has raised it himself. No wonder the adults are doing something wrong.
It is already mid-November. It is very cold in Beijing this winter. The charcoal from Jiangbei and the cast iron heating stoves produced by Liguo Iron Works are selling well, and the noble families are using high-grade white copper radiators and coal-burning stoves.
A small boiler, the hot steam is transmitted to each room through copper pipes, and emitted from the white copper radiator, making the room temperature suitable without being overly dry.
The Marquis of Zhenwu's house was even more luxurious. The entire pavilion on the rockery in the back garden was made of white copper, with steam pipes running up from under the rockery. Although the sky was gloomy and cold, the pavilion with ventilation on all sides was as warm as spring. Liu Ziguang was still
Wearing half-worn red robes, Hu Yimin and Peng Jinrong wore tight-fitting satin jackets and fox fur scarves. In front of the three of them, there was a hot flower sculpture that had not yet moved.
"This Securities Regulatory Commission is really hateful, asking questions about every detail. We have simply found a mother for ourselves, and she is also a nagging stepmother. This move is not good, and we are simply handing over our wallet to
Others manage it." Peng Jinrong muttered angrily.
Hu Yimin responded: "The imperial court's response this time is amazing. Logically speaking, they should have always lacked interest in this new thing and do not like or want to interfere with it. However, this time they reacted quickly. The cabinet immediately responded.
The decision was made to put Huang Shilang in charge of this matter, and Huang Shilang quickly arranged for Zhang Fulin to be the supervisor of the Securities Regulatory Office, without leaving any opportunity for us to place personnel. I know that this Zhang Fulin is indeed a capable person.
Apart from Huang Xiaotian, he is the only one. It’s a pity that this person belongs to Huang Xiaotian, otherwise it would be good for me to use him. I don’t think the matter has reached the point where it is hopeless.”
Liu Ziguang said: "The establishment of the Securities Supervision Yamen is correct in itself. After all, private operation of the exchange is not the answer. This area must be controlled by the court so that the people can rest assured. Therefore, this step must be taken sooner or later, but a good Yamen must be in the hands of the right people."
In order to be able to play a role, for Zhang Fulin, let’s listen to his words and watch his actions for the time being. If he is still stubborn..."
Peng Jingrong said: "Zhang Fulin is Huang Xiaotian's person, and Huang Xiaotian is Donglin's person. Last time the Jiangdi fraud case did not bring Huang down, this time they will definitely be careful and we will not get caught.
"
Liu Ziguang sneered: "Do we still need to catch him? If he makes the securities market a mess and makes it a mess, the people will naturally make trouble.
, then we only need to add a little firewood to the people's anger, humph, even Qian Qianyi can't save him."
The two women nodded together, they were good at industrial business, but it still depended on the ability of the founder of Nanchang to trick people.
At the same time, in the house of Huang Xiaotian, the minister of household affairs, Zhang Fulin, the newly appointed secretary of the Securities Regulatory Commission, was listening to the instructions of the minister. Huang Xiaotian was an old man of household affairs, and he was also a powerful figure who secretly joined the Donglin Party. He thought that after the coup was successful,
He was able to get the position of Minister of the Ministry of Revenue, but he didn't know that the position of Minister was given to the Hu Yimin faction during the distribution of power. He only got the position of a minister. The aggrieved Minister Huang wanted to resign in protest, but was persuaded by Qian Qianyi to stop him.
, saying that he should be patient for two years and control the Housing Department for Dong Lin. Sooner or later, the minister will still have the surname Huang.
Huang Xiaotian did not disappoint Qian Qianyi. He replaced Hu Xuezhai, the minister, and became the de facto head of the household department, which changed the balance of power in the court. Donglin directly controlled four of the six departments, leaving the rest
Yuan Chonghuan, the minister of the Ministry of War under his command, has now been integrated into the Donglin lineage. It is difficult for the Ministry of Industry controlled by Liu Ziguang to compete with Donglin.
Now the so-called Donglin Party is different from the secretive and noble-minded party before the coup. The martial arts people and social elites such as Hu Yimin who joined the party organization in order to overthrow the tyranny have launched the Donglin Group after achieving their goals.
, and a large number of mediocre, middle- and lower-level officials who took advantage of the situation joined the Donglin Clique through apprenticeships and other methods in order to advance and make a fortune, making this organization gradually turn into a large and loosely organized political and economic interest class.
Even if Zhang Fulin is an official who joined the Donglin system in the later period, his life in the household department was not satisfactory at first. Later he hugged Huang Xiaotian's thick legs and became famous. Recently, he was promoted to Renren with the help of Mr. Huang.
How could the hot-eyed Securities Regulatory Commission official not express his gratitude to his benefactor.