Chapter six hundred and fiftieth chapters welcome the arrival of the collapse
The next morning, as soon as Li Guangyu arrived at the office, Gan Qin reported to Li Guangyu: "Li Sheng, the news just came that the Hang Lung Group has begun to cut prices to withdraw funds. With the beginning of the Hang Lung Group, I'm afraid that in the next few days
.Major groups will seek to protect themselves by exchanging price for volume to withdraw funds.”
Li Guangyu knows very well that as long as the large real estate companies cannot stabilize, the avalanche of the Xiangjiang property market will come. At this time, it depends on who can run fast. The groups that can withdraw some funds first have some hope. The groups that are late will then
I'm just afraid I'll get trapped inside.
From 1977 to 1982, the property market, which had been brilliant for so many years, finally could no longer sustain itself. I don’t know how many real estate companies in Hong Kong will disappear this time.
Li Guangyu estimates that the Xiangjiang property market will completely collapse by the beginning of the year at the latest, and maybe even sooner. At this time, Hang Lung Group is taking action. Some groups that have already reached crisis point will definitely follow suit.
When big groups are selling, those real estate speculators and small and medium-sized real estate companies will be even more panicked. In order to cash out as soon as possible, they will only offer lower prices than the big groups, so as to seize customers and hope that they can
Able to cash out and leave the market as soon as possible.
In this way, the property market prices will continue to fall. Li Guangyu estimates that this time the property market is likely to fall back to the price of 1977, or even lower.
After all, that time was just an economic crisis. This time it is not just an economic crisis, but there are also other factors involved.
Li Guangyu said: "Gan Qin, please inform the top executives of the two major banks, the two real estate groups, and Ms. Li Xuemei to hold a meeting in the third conference room on the second floor at two o'clock in the afternoon."
Gan Qin knew that this was Li Guangyu's preparation for the upcoming situation in Xiangjiang. Once the property market in Xiangjiang collapsed, it would have a great impact on Xiangjiang. Xiangjiang's current economic development mainly relies on real estate, and all major groups in Xiangjiang are involved in the real estate industry.
Especially the Jardine Matheson Group, which is already heavily in debt. This time the property market plummeted, and the Jardine Matheson Land Group is also facing huge challenges. I just don’t know if Li Sheng will continue to attack the Jardine Matheson Group this time.
Similarly, the crisis in the banking industry is not small. After working as Li Guangyu's assistant for two years, Gan Qin also learned a lot.
Once the property market collapses, many banks in Hong Kong will inevitably be implicated. This is probably the purpose of Li Sheng's notification to the heads of the two banks this time.
Since the separation of Wing Hang Bank, this is the first time that senior executives have returned to the Lee Building to hold a meeting, which shows that Li Guangyu attaches great importance to this incident.
Gan Qin knew that Li Guangyu had been preparing for this crisis for too long. Now the big crash has finally come. Although many people will be unlucky, the Li Group's wealth will have a qualitative improvement after this time.
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The Lee Group has prepared 10 billion Hong Kong dollars for Wheelock Group this time for bargain hunting. If the price drops to less than half, as long as the property market price returns to the previous level in the future, they will be able to earn tens of billions of Hong Kong dollars in profits every year.
Collecting rent is enough to support the expansion of Wheelock Group.
This time not only the Wheelock Group, but also the Hengyu City Group will be bargain hunting. In other areas, the strategy implemented by the Hengyu City Group is to purchase stores, while most of the stores in Xiangjiang are rented.
After the real estate market bottoms out this time, Hengyu City Group will purchase all city and convenience store stores to own the stores and reduce the group's operating costs.
Gan Qin greatly admired Li Guangyu's vision of the future. As early as a few years ago, Li Guangyu seemed to know everything that was going to happen now. For this reason, he continued to make plans, and now the harvest time is finally here.
After Gan Qin responded to Li Guangyu, he went to his office to inform the executives of Yongheng and Tianyu Financial Group and Tianyu Bank. He also contacted the executives of Wheelock Group and Starlight Real Estate Group.
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At two o'clock in the afternoon, after Li Guangyu arrived at the conference room, he listened to Guo Qingya and Ma Wensong's reports on the current situation of the Xiangjiang property market.
Guo Qingya is currently in a very happy mood. Starlight Real Estate Group has collectively settled in Baodao, where multiple real estate projects have started construction at the same time. Only their Wheelock Group has been resting for a whole year, and now it is finally time for their Wheelock Group to show their talents.
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Next month, the headquarters will allocate 10 billion Hong Kong dollars to its group account for this dip in the Hong Kong property market.
At that time, the Wheelock Group will regain its former glory and let all walks of life in Hong Kong know that the Wheelock Group is still the same Wheelock Group, and that the Wheelock Group now belonging to the Lee Group will be better than the four major foreign banks.
The Wheelock Group is even more powerful.
Li Guangyu said: "Qingya, please continue to pay attention to the changes in the property market in Xiangjiang. At the same time, you must exchange information with Starlight Real Estate Group and the two major banks so that you can better understand the current situation of the property market in Xiangjiang."
Guo Qingya replied: "Li Sheng, we will establish a good liaison mechanism to ensure that the four companies can share information in real time so that each company can make decisions based on market changes."
This time, Li Guangyu only paid attention to the real estate company. Now is not the time to buy the bottom. The most pressing issue at the moment is the bank issue. Even though Li Guangyu had already made the request, the bank still gave loans to many real estate companies and individuals engaged in real estate.
Small amount.
There was no way around this matter. He had completed all the procedures and met the bank's loan requirements, so Li Guangyu had no choice but to give him a loan.
Now that the property market is collapsing, Li Guangyu naturally has to pay special attention to banks and try to avoid large amounts of bad debts in banks.
Li Guangyu said: "Qianwen, Feng Sheng, you two major banks must be more vigilant at this time, tighten lending, and conduct inspections on large loans. Those that have expired must be recovered as soon as possible. Those that have not expired must be supervised intensively.
, in case the company or individual suddenly goes bankrupt and the bank cannot collect the loan."
Luo Qianwen said: "Li Sheng, since the September incident, our Tianyu Bank has specially created files for customers with large loans, and has dedicated personnel to supervise and track them to ensure that we do not lose everything on our loans."
Feng Jingyao also responded: "Our Wing Hang Bank has also done work in this area, but because our Wing Hang Bank has been established for a long time, many of them are old customers. As long as they meet our bank's requirements, they will all get loans.
In terms of loan business, it is bigger than Tianyu Bank in Xiangjiang, so I am a little worried about the situation of some families."
Li Guangyu did not blame Feng Jingyao for handling this aspect. Xiangjiang is a society of favors, and these families have been cooperating with Wing Hang Bank. The procedures were complete at that time, and Wing Hang Bank had no reason not to provide loans to these families.
Now that the property market is collapsing, some people in these families must be having a hard time. But when these families go bankrupt, the banks must recover their loans. Li Guangyu is not a holy mother, and he will not use his own money to rescue these families.
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Li Guangyu had warned everyone in Xiangjiang that the property market in Xiangjiang would be in danger in the next two years. Since these people didn't believe it, they would have to pay the price.
Li Guangyu said: "Our bank's funds belong to our customers. We cannot be soft-hearted just because they have cooperated with us for a long time. When they have problems, the loans that should be recovered must be recovered. This is responsible for the customers and for us."
The bank and ourselves are responsible.”
Feng Jingyao said: "Li Sheng, don't worry, we will pay close attention to it and we will prevent the bank from suffering heavy losses."