Chapter 657 The electronic industry that is difficult to develop
Facing the current severe and complex situation, the collapse of the property market is inevitable. If Hong Kong does not find new economic support, an era of depression will come.
As Youde, who just took over as the governor of Xiangjiang this year, obviously does not want to face such a bad start.
MacLehose's many years of governance in Hong Kong have earned him all the praise in Hong Kong. But if the economy of Hong Kong continues to decline after he takes over, then such a clear response will make him nailed on the pillar of shame in Hong Kong.
In the history of Xiangjiang, I will be a negative example.
In order to maintain the stability of Hong Kong and prevent a major slowdown in the economic development rate of Hong Kong, on the morning of the 19th, Youde specially held a meeting of the Hong Kong business community in the banquet hall of the Government House, inviting the heads of medium and large companies in Hong Kong and various people in Hong Kong.
The heads of the big families attended this meeting to discuss the future of Hong Kong's economy.
There were more than 300 people present this time, which was a very large number of people for the meeting held in the Governor's Mansion. This time was not the previous banquet with family members. The invitees all came alone this time.
At the meeting, Youde expressed his gratitude to those who came to attend, and at the same time introduced the current situation in Hong Kong, focusing on the real estate industry.
Youde said: "The development of Xiangjiang in the past few years has made many of our businessmen look at the huge profits. The property market prices in Xiangjiang have doubled several times in just a few years. In the past, an ordinary family might be able to buy a house in just ten years.
It now takes twenty or even thirty years to buy a good house, so the price is obviously unreasonable."
"The collapse of the property market in Xiangjiang is inevitable. I invite you here today because I hope to discuss the future of our city with you. The development of Hong Kong's economy is ultimately in your hands. I think this property market crisis will also make you
We understand the dangers of being solely engaged in the real estate industry. The development of Xiangjiang cannot rely solely on real estate. We need to find more pillar industries."
Among the people who came today, many people already regretted that they had invested all their assets in the real estate industry. This property market crash has really hit them hard.
Xiangjiang's business elites are well aware that Xiangjiang's current economic development is likely to experience a sharp decline.
The property market crash not only affects the real estate sector, but also the political situation in Hong Kong. The service industry in Hong Kong is also not doing well.
The flight of the middle class and the large number of people trapped in the property market have caused Xiangjiang to lose a large number of consumers.
Whether it is Zheng Yutong's Chow Tai Fook Jewelry Company, Hengyu Supermarket Group, Watsons and Hongyu Clothing Group, sales performance has declined to a certain extent in the past two months.
At this time, if the government does not come up with some policies that can boost confidence, Hong Kong's economy will be even more pessimistic next year.
The collapse of the property market is good for consumption in Xiangjiang, so that citizens will have more funds for consumption.
But this requires the emergence of pillar industries that can replace the real estate industry. What else does Xiangjiang have besides real estate?
Currently, nine and a half of the ten top-level families in Xiangjiang are mainly engaged in the real estate industry. Even if Li Guangyu's own real estate group accounts for a small proportion of his own profits, he still owns three major real estate groups.
Once the real estate market in Xiangjiang collapses, countless people in Xiangjiang will face unemployment. Major groups will definitely reduce their salaries, and their bonuses will also be reduced accordingly. The consumer industry hopes that the plummeting real estate market will increase its sales. At present, it is still relatively difficult.
As early as a few years ago, Xiangjiang's economy began to develop abnormally. When everyone found that the profits earned by their company's hard work for a year were not as good as the profits brought by the appreciation in the value of a few houses bought by others, they would also invest
Come into real estate.
At that time, Xiangjiang did not pay attention to this. When South Korea, Taiwan, and Singapore were developing high-tech industries in order to support the continued development of their economies by the electronics industry based on semiconductors, Xiangjiang's real estate industry also ushered in glory.
Due to some reasons, the government in Xiangjiang is unwilling to upgrade the industry in Xiangjiang, and the major upper-class families are also unwilling to spend huge sums of money on the research and development of semiconductor and electronic industry technologies.
The real estate industry is so good, it is simple and effortless, the profits are very high, and the returns are very fast. It is not like the electronics industry, where you can invest billions of Hong Kong dollars and still see no results.
As soon as the real estate industry collapsed this time, the economy of Xiangjiang showed its prototype. The false prosperity that Xiangjiang had previously supported by high housing prices finally showed what it should look like at this time.
Fortunately, Hong Kong is not like some places. When the property market collapse is irreversible, they will not intervene in the market to keep housing prices from falling. No matter how Hong Kong's economy develops in the future, at least the current Xiangjiang government still has the courage to break into the real estate market.
Bubble courage.
Although this will be a big blow to the economy of Xiangjiang, as long as the major groups and families in Xiangjiang transform and invest funds in other industries, especially some high-tech industries, the future economic development of Xiangjiang will definitely be able to recover.
Came here.
Youde is still determined to develop Hong Kong's economy well, and he hopes that he can have a relatively perfect political career in Hong Kong.
It's a pity that his current mentality will change soon. At that time, he will probably not mention the transformation again. He hopes that all the major families in Hong Kong will be engaged in real estate, so that he can sell
Produce more land, and finally leave this mess to the mainland.
At the meeting, Youde told everyone present: "In order for Hong Kong to have enough talents to support the development of our various industries, our government plans to establish Hong Kong Polytechnic University and Hong Kong City University to provide conditions for everyone's industrial transformation and upgrading."
Youde is very clear that the reason why there are currently no high-tech enterprises in Xiangjiang is mainly due to the lack of talent reserves in Xiangjiang, especially talents in science and engineering. This time, whether it is a polytechnic university or a city university, they will focus on science and engineering to balance the current cultural and cultural background in Xiangjiang.
A situation of strong reason and weak reason.
It's a pity that Youde made the wrong calculation. Top families like Xiangjiang don't have much thought to engage in high-tech industries.
Compared with these, they are keen on traditional industries, for which they understand better. They do not seek to get rich suddenly, they only need to enter this industry that can bring them good profits.
Therefore, even if these families in Xiangjiang expand their industries, many of them are related to their real estate industry, such as the hotel industry. They also control some industries related to people's livelihood, such as electricity, transportation, gas, water supply and other industries.
These industries have relatively few risks and have very strong cash flow. These enterprises related to people's livelihood will collect fees as usual every month, which can provide a steady stream of funds for their development.
Because of these differences in ideas, although Youde talked about the broad prospects of the future of the electronics industry, very few responded to him, and no family was prepared to enter it.
A few of the people who responded were just the heads of some electronics companies that do OEM processing. They don’t have any core technology themselves. Many parts are imported from outside, and then they assemble it themselves to earn a small OEM fee.