Chapter 200 The Secretary of Jiangkou Municipal Party Committee Comes for Help
In late October, a lot of things happened here in Mingzhu, the two most important of which were the establishment of Pudong New Area and the visit of Jiangkou Municipal Party Committee Secretary Li Jiazheng to Mingzhu.
The establishment of Pudong New Area is a long-term project, so there is no need to rush. The official visit is the visit of Li Jiazheng, Secretary of the Jiangkou Municipal Party Committee, which is of great significance. This is also the first brother city leader to visit after Ye Ziping came to power. [...
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Although Jiangkou's status in the domestic political arena is not high, and the municipal party committee secretary is only at the deputy provincial and ministerial level, as the first special zone city, Jiangkou's influence on the domestic economy is relatively high.
Although the distance between Jiangkou City and Mingzhu City is relatively large in terms of economic aggregate, some of Jiangkou City's concepts and practices, as well as its fighting spirit in the economic wave, are worth learning from Mingzhu City.
Especially at this juncture when Mingzhu City is about to develop and open up the Pudong New Area on a large scale, the visit of Jiangkou Municipal Party Committee Secretary Li Jiazheng is quite interesting.
Strictly speaking, Jiangkou Municipal Party Committee Secretary Li Jiazheng is a member of Comrade Fang He's group.
Although Ye Ziping represents the old Ye family, the relationship between Tongfang and Comrade is harmonious. Therefore, Li Jiazheng's visit has no other factors. It is just a normal interaction between the two cities, and he also brought some personal information with him.
Just a request.
Zang Jiankai, deputy secretary of the Mingzhu Municipal Party Committee, personally went to the airport to greet Li Jiazheng. Mayor Feng Yuanguang also met with Li Jiazheng immediately and talked about the common progress and future cooperation between the two cities in the reform and opening up.
The visiting representatives from Jiang City will stay in Mingzhu City for about three days.
After Ye Kai got the news, his first feeling was that Li Jiazheng must have come here for something, otherwise there would be no need to come here at this time.
At night, Ye Kai's suspicion was confirmed from Ye Ziping's mouth.
"It's mainly about the stock market. The stock market in Jiangkou has fallen sharply recently. Lao Li is here to ask for help. He wants us to give him some advice and help him." Ye Ziping said to Ye Kai.
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"Oh, I'm just saying, I won't go to the Three Treasures Hall for anything." Ye Kai nodded.
Speaking of the stock market in the morning, Ye Kai also found it quite interesting. It is more like a child playing house than a set of immature capital market trading rules. The rules of the securities market can be said to change three times a day, and you don’t even know what will happen tomorrow.
What is the limit on price rise and fall?
Of course, although the stock market is chaotic, it is true that you can make money and lose money.
Since last year, there have been black market stock stalls everywhere in Jiangkou City’s stations, streets, vegetable markets, and docks.
There is no need to go to the counter to trade. You can buy directly at the station and sell at the pier, speculating on the price difference in the streets and alleys. The rich and wealthy merchants spent more than 20,000 yuan on a single unit in just a few days.
The price of stocks on the black market can actually be twice as high as the price on the counter.
It was not until last May that Jiangkou City issued an announcement to "Resolutely Ban Illegal Over-the-Counter Trading Activities", and this situation was alleviated. Immediately afterwards, Jiangkou City introduced a daily limit system - the daily increase or decrease shall not exceed 10
%
Although black market trading has been curbed, stock prices continue to rise.
In comparison, the stock market here in Mingzhu seems deserted. The Jing'an Index (the index of stock trading institutions before the Mingzhu Exchange was officially established) fell below 100 points and was very dismal.
There is a reason for this. It does not mean that the people in Pearl City have no money, but that the investors here in Mingzhu City mostly use stocks as bank time deposit certificates and keep them after buying them, so Jing'an over-the-counter transactions are rare.
The performance of the old eight-share stocks in Mingzhu City is pretty good, but the Jing'an Index has been changing within ±20% for a long time. The stock price-to-earnings ratio is between 515 times and the price-to-book ratio is about 1 times. The stocks are relatively cheap.
Because of this situation, a large number of Jiangkou stockholders came to Mingzhu City and called themselves the "Northern Expeditionary Army", saying that they would teach Mingzhu people how to trade stocks.
At that time, the largest stock on the Shanghai Stock Exchange was Electric Vacuum. At that time, Electric Vacuum had only a face value of 1 yuan.
Because it always issues additional rights shares, the investors in Pearl City hate it.
However, the "Northern Expedition Army" used it as a leader to speculate. Driven by the investors of the "Northern Expedition", the electric vacuum was quickly speculated above its face value.
The Jing'an Index hit a new high of 123 points in one fell swoop, shocking investors in Pearl City.
At that time, the management of the Financial Management Office of the Pearl City Branch of the People's Bank of China felt that the stock market was too hot, so they introduced a daily limit system - the price of the rise or fall was determined by the price. At this time, investors who had withdrawn from the black market transactions in Jiangkou City joined the "Northern Expedition" team. Even if there were
Despite the daily limit, the Jing'an Index still climbed straight to 200 points, and one month later it reached 300 points.
Electric vacuums started at 92 yuan and went up to 500 yuan. Yuyuan, with a face value of 1 yuan, was priced at more than 400 yuan in just two months under the daily limit. The black market price outside the market was even more astonishing, reaching 1,600 yuan per share.
The rise in other stocks was even more astonishing. Xiaofeile, with a face value of 50 yuan, was sold to 382 yuan, and Shenhua, with a face value of 10 yuan, was sold to 382 yuan.
By the time the Mingzhu City investors woke up, it was too late, and many had to go outside the market to buy stocks that had been sold at low prices.
The skyrocketing stock price has also brought about many problems. In Jiangkou City, because the stock price kept rising and the risks were extremely high, the government had to issue a document asking party and government cadres to take the lead in selling stocks.
But by the end of last year, the situation had reversed.
The stock market in Jiangkou City continues to plummet, but the stock market in Mingzhu is better because the upward momentum has not been fully released, so it is performing strongly. In order to weaken the decline, Jiangkou City has done a lot of work, but it still cannot stop the market from falling.
Since repeated adjustments to the price limit limits failed to take effect, the management of Jiangkou City's stock market finally decided to gradually lift the price limit and let the market mechanism adjust itself.
However, on the day when the price limit was lifted, Jiangkou Development fell 416% within an hour of opening, below the directional issuance price of 156 yuan, and fell to 134 yuan a few days later. You must know that a few months ago, its stock price was more than 170 yuan.
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The plummeting stock market in Jiangkou City finally alarmed city leaders.
Li Jiazheng, Secretary of the Jiangkou Municipal Party Committee, chaired a rescue meeting attended by many business leaders. When he asked companies to provide money to save the market, few companies were willing at first. Later, the boss of Jiangkou Development said he hoped to buy back his own stocks.
Many people believed that Jiangkou Development had lost its value, so they raised 200 million yuan in rescue funds.
However, compared with the plummeting stock market, the 200 million yuan invested has not seen much results.
Therefore, Secretary Li Jiazheng rushed north to Mingzhu City, hoping that Ye Ziping could take action to save the Jiangkou stock market.
"The distant water cannot quench the near thirst, what can I do? Besides, Mingzhu City wants to develop Pudong New Area now just to raise money, and we don't have any money in hand!" Ye Ziping told Ye Kai that there was nothing he could do about it.
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Ye Kai really thought about it, touched his chin and said to his father Ye Ziping, "Actually, there is still a lot of money."
"Oh?" Zi Ping was stunned after hearing this, wondering what Ye Kai was referring to?
"The money is in the hands of the common people." Ye Kai said with a smile, "If we liberalize the policy and allow the people of Mingzhu City to speculate on the stocks of Jiangkou City, this problem should be easily solved."
After hearing this, Ziping felt that it made sense.
The reason why Jiangkou City's stock market keeps falling is mainly because locals have no confidence in the stock market and outsiders cannot speculate. If investors in Mingzhu City can speculate on Jiangkou City's stocks, then the new funds will
It plays a role in promoting the stock market. Once market confidence is established, the problem will be solved.
"But there is a problem." Ye Ziping then thought about another thing, "There is already a stock market in Mingzhu City. Why do investors want to go far away and speculate on the stocks of Jiangkou City, which they are not familiar with?"
Ye Ziping's question is also very reasonable. After all, everyone likes to play at home. If you go to make money in a field that you are not familiar with, you will always feel uneasy.
"This is a very simple price advantage." Ye Kai replied with a smile. Seeing his father Ye Ziping's confused look, he explained to him, "Jiangkou's stocks are cheap, a few yuan or ten yuan per share. Mingzhu's stocks are several hundred yuan more expensive.
If you let people in Pearl buy Jiangkou's stocks for thousands of dollars per share, they will definitely feel it is very cheap and their enthusiasm for participation will be very strong."
"That's not the case." Although Ye Ziping doesn't trade in stocks, he still knows the basic situation. "The face value of Jiangkou City's stocks is one yuan per share, and the face value of Mingzhu's stocks ranges from ten to one hundred yuan. It's not good.
Compare
"Stock investors don't care about this, as long as they think it looks cheap," Ye Kai replied.
"Are you sure it will be effective?" Ziping asked.
"It definitely works. When did I say nonsense?" Ye Kai replied.
The next day, Ye Ziping, member of the Central Political Bureau and Secretary of the Mingzhu Municipal Party Committee, met with Li Jiazheng, Secretary of the Jiangkou Municipal Party Committee. The two parties had good discussions on the economic and trade cooperation between Mingzhu City and Jiangkou City, and exchanged views on vigorously promoting reform and opening up.
opinions.
The two sides issued a statement in front of the media. Mingzhu City will learn from Jiangkou City's advanced experience and promote the construction of Pudong New Area, while Jiangkou City will also closely cooperate with Mingzhu City to carry out all-round beneficial mutual assistance activities.
After the press conference, both parties jointly announced a latest decision. From next month, Jiangkou City's stocks will be listed on the Mingzhu City Securities Market for trading.
After the news came out, Jiangkou City's stock index rebounded slightly, and finally stopped its multi-day decline in late trading, closing in the red.
"Look, I said it will definitely work. The market's reaction is the most real." Ye Kai said to Ye Ziping with a smile while watching the news at night.