813, the run wave spread to the entire banking industry
Being able to make a decision on the Hang Lung Bank matter in such a short period of time is definitely very fast for the Hong Kong government and the British government.
Early in the morning, at the Legislative Council meeting, Youde sat there and preached calmly.
"Two things. First, I need the Exchange Fund Administration to fund the takeover of Hang Lung Bank. At that time, the Exchange Fund Administration and the Office of the Supervisor of Banks will jointly elect new board members of Hang Lung Bank to be responsible for operating Hang Lung Bank.
After the situation improves, we will look for suitable candidates to repurchase Hang Lung Bank.
The second thing is that I hope that the Hong Kong government will come forward to stabilize the situation in Hong Kong this time. Hong Kong is everyone’s Hong Kong, and I believe that everyone here does not want any problems in Hong Kong’s economy!”
Youde's straight-to-the-point statement triggered discussions among members of the Legislative Council meeting.
The Hong Kong of today is not the Hong Kong of the future. In Hong Kong of today, whether it is the members of the Legislative Council or the Executive Council, they are all selected by the Governor of Hong Kong. It is not like these members were all elected later.
In fact, the implementation of suffrage was a Hong Kong policy promoted during Youde's term, and this policy was actually a policy launched by the British to disgust his hometown.
So in the current Legislative Council meeting, Youde still has very absolute rights...in name only!
At this time, Youde did not think that his proposal would be rejected by the Legislative Council, so after he finished speaking, he had a faint smile on his face.
But just when Yoder thought everyone would agree with his suggestion, a councilman stood up.
"Mr. Governor, we have no objection to your decision, but there is one thing I hope you can give us an accurate answer to!"
Yoder frowned slightly. What he wanted to see was that after he finished speaking, everyone agreed with his opinion directly, instead of someone asking him questions now.
However, Youde still maintained his demeanor and said with a smile: "Do you have any questions that Congressman Zhou doesn't understand? You can ask them and I will try my best to answer your questions!"
Councilor Zhou nodded and said: "That's right. What I want to ask is, if the Exchange Fund Administration funds the takeover of Hang Lung Bank, can the run on Hong Kong's banking industry that may be caused by Hang Lung Bank be eliminated?"
Youde nodded confidently and said: "This is natural. The current bank runs in Hong Kong are only limited to Hang Lung Bank. Now that Hang Lung Bank's problem has been solved, there will naturally be no other problems!"
Councilor Zhou shook his head and said: "Mr. Governor of Hong Kong, I'm afraid things are not that simple, right?"
Youde raised his eyebrows again and asked: "Congressman Zhou, what do you mean?"
Councilor Chow said: "When the Governor of Hong Kong came to the Legislative Council, he must have not read today's newspaper, right?"
Although Youde still didn't know what Congressman Zhou was talking about, he still said: "Congressman Zhou, if you have any ideas, just say it directly. Our time is very precious now!"
Councilor Zhou said: "Okay!"
After finishing speaking, Councilor Zhou took out a newspaper. Someone took the newspaper from his hand and handed it to Youde on the rostrum.
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Councilor Zhou continued: "This is the issue that was missed in today's "Sheng Bao". I think if this matter is true, even if the Hong Kong government funds the takeover of Hang Lung Bank, it is just a waste of taxpayers' money. There’s no way to stop the squeeze trend from coming!”
When everyone in the conference room heard what Congressman Zhou said, they all showed surprised expressions. Everyone focused on the "Victory Report" that had been handed to Youde.
I want to know what happened to make Congressman Zhou say such appalling words.
Although "Sheng Bao" reported the Xie Liyuan Gold Shop incident and pointed out the relationship between Hang Lung Bank and Diners Club at the press conference, they gained a certain reputation in Hong Kong.
However, this newspaper's background in Hong Kong is really negligible, so the high-ranking Legislative Council members present will not pay special attention to this newspaper.
Yoder looked at the newspaper in his hand and his expression completely changed.
‘The storm is coming, and Xiangjiang will usher in a large-scale squeeze wave!’--"Sheng Bao"
This is the front page headline of "Sheng Bao".
Yoder originally thought this was some kind of alarmist title, but when he saw the content, he had no choice but to think so!
"According to the exact information obtained by this newspaper, Xiangjiang Overseas Trust Bank has experienced a large number of uncashable checks, amounting to nearly 70 million US dollars. Most of the uncashed checks were issued by Dominion, a subsidiary of Ye Zhuangling, a friend of former Overseas Trust Bank Chairman Zhang Mingyi. Nega Finance Company…”
This time, "Shengbao" pointed its finger at Overseas Trust Bank, the fourth largest banking group in Hong Kong after HSBC, Hang Seng and Jiaku.
Back then, Chu Huan had conflicts with Overseas Trust Bank because he wanted to take back his family's Jiahu Textile. Later, there were conflicts and cooperation.
However, the development of Overseas Trust Bank has not fallen behind in these years. In 1968, Zhang Mingyi acquired the supplier bank of the Zhou Xinian family. In 1972, Overseas Trust was listed in Xiangjiang. In addition to Zhang Mingyi, the major shareholders are now bankrupt. Zhuang Qingquan, a shareholder of Hang Lung Bank on the edge.
After going public, Overseas Trust Bank obtained a large amount of cash and began to actively expand overseas business. It successively established branches in Indonesia, Thailand, England, North America, Canada and other countries to expand overseas Chinese business there.
When it first entered the 1980s, Overseas Trust Bank acquired Dajie Finance in Xiangjiang and another bank run by the Zhou Xinian family, the Chinese Bank, through the issuance of new shares.
At this point, Overseas Trust Bank has become a line of its own, with 3 licensed banks, 2 financial companies, and 62 branches opened in Xiangjiang. According to the financial report in the middle of this year, the total asset value of Overseas Trust Bank has reached 120 billion Hong Kong dollars, and the deposit limit exceeds 30 billion Hong Kong dollars.
It has become the fourth largest local bank in Hong Kong after HSBC, Hang Seng and Jia Ku!
After Zhang Mingyi's death, Huang Changzan, a senior banker in Hong Kong, became the chairman of Overseas Trust Bank.
Zhang Mingyi’s widow Wu Huirui and eldest son Zhang Chengzhong serve as company directors.
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In this report of "Shengbao", Zhuang Qingquan was highlighted. After all, Zhuang Qingquan is not only the general manager of Hang Lung Bank, but also the vice chairman of the board of directors of Overseas Trust Bank.
It was mentioned in the report that the relationship between Zhuang Qingquan, Wu Huirui and Zhang Chengzhong was very bad. The reason was that Zhuang Qingquan hoped that Overseas Trust Bank could provide help to the current Hang Lung Bank, but was opposed by board members led by Wu Huirui and Zhang Chengzhong.
Such a situation can easily arouse the curiosity of readers. After all, Zhuang Qingquan, as the vice chairman of the board of directors of overseas trusts, must also have a high position in overseas trusts. In addition, everyone in Hong Kong is now looking at the situation of Hang Lung Bank. If Hang Lung Bank is at this time
If the bank really goes bankrupt due to the bank run incident, then everyone will definitely turn their attention to Zhuang Qingquan, who is also one of the major shareholders. At that time, the overseas trust with Zhuang Qingquan as the chairman of the board of directors will naturally be in danger.
It is impossible for Overseas Trust Bank not to know such a simple truth, but even if it knows, it still turns a blind eye to the situation of Hang Lung Bank. There are many things that can be analyzed here.
In fact, in this report, "Shengbao" has already given a conclusion.
The purpose is actually that the current overseas trust banks cannot protect themselves.
It turned out that when Zhang Mingyi was still alive, Zhang Mingyi followed the advice of his friend Ye Zhuangling and began to use the "check wheel" technique, losing nearly 70 million US dollars in public funds.
The Dominican Financial Company founded by Ye Zhuangling mainly provides immigration services to Hong Kong people. In the past two years, Ye Zhuangling has continuously discounted the company's uncashed checks to overseas trusts. Due to the "time difference" caused by the check transfer, it can
The proceeds from the discounting of the second check are deposited into the account to cash the first check, and at the same time, these funds are used for speculative activities within the "time difference".
And this is the "check wheel" that shocked the financial community in Hong Kong.
Due to the failure of Ye Zhuangling's investment, the total value of overseas trust's uncashed checks now reaches nearly US$70 million.
In addition, in this report, it was also mentioned that due to the existence of some bad debts, the actual financial situation of Overseas Trust Bank has reached a loss of nearly 3 billion Hong Kong dollars!
The most important reason why the true financial status of Overseas Trust Bank has not been disclosed today is actually that current Overseas Trust Chairman Huang Changzan, Wu Huirui, Zhang Chengzhong and others designed falsified accounts to cover up Overseas Trust's losses.
That’s the general content of the entire report.
Yoder looked at the report in his hand, his face began to turn pale, and his expression lost the confidence he had before.
In the current situation where Hang Lung Bank is experiencing a wave of runs, Overseas Trust Bank has been exposed by the media to such a situation. Not to mention whether the content in the "Sheng Bao" is true or false, just the current situation, such a report is enough to trigger
Panic psychology of overseas trust bank depositors.
Then the run on overseas trust banks is naturally inevitable.
Now that the Hong Kong government is taking over Hang Lung Bank, will overseas trusts that are larger than Hang Lung Bank also have to take over?
The most important thing is that the occurrence of such situations in two banks in succession will definitely trigger panic among the citizens of Hong Kong.
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By then, not only Hang Lung Bank and Overseas Trust Bank will experience a run on banks, but all small and medium-sized banks in Hong Kong will face such a situation.
Is the Hong Kong government going to take over everything?
Faced with such a situation, even Yoder couldn't find a suitable solution for a while.
"Immediately notify the police station and ICAC will investigate Overseas Trust and put Huang Changzan, Wu Huirui, Zhang Chengzhong, Ye Zhuangling, Zhuang Qingquan and others under control, and at the same time organize professionals to investigate the financial status of Overseas Trust Bank.
In addition, contact HSBC immediately and Standard Chartered will hold a meeting on the Hong Kong banking industry!
Finally, send someone to investigate Shengbao. What kind of newspaper is they?"
Although Youde doesn't know whether to sell and take over Hang Lung Bank, he must take some countermeasures now.
Someone immediately passed on what Yoder ordered!
.
Overseas Trust Bank Headquarters!
As the fourth largest local banking group in Hong Kong, the headquarters of Overseas Trust Bank is naturally located in Central.
As of now, the members of the board of directors of Overseas Trust have not paid attention to the content of "Sheng Bao". Like those in the Hong Kong Governor's Office, the influence of "Sheng Bao" has not yet reached the level of their attention.
However, at this time, the three giants of overseas trust banks were also discussing the situation of Hang Lung Bank.
"Hang Lung Bank is definitely doomed this time!"
Zhang Chengzhong gave a sermon with a complicated expression.
In fact, Zhang Chengzhong has always had a shadow on Xiangjiang. When Chu Huan was not yet successful, he gave him a hard punch. Later, Zhang Chengzhong formed an Avengers Alliance with several people to target Chu Huan. As a result, Chu Huan
Huan fought so hard that he almost couldn't find Bei.
Huang Yulang even lost his Yulang International. Now it is no longer seen in Xiangjiang. It is said that it has now gone to Southeast Asia for development.
Although Zhang Chengzhong had completed his undercover behavior in this incident and provided some conveniences for Chu Huan, Zhang Chengzhong was still afraid of Chu Huan.
But his father passed away, and even if he didn't like Xiangjiang, he could only stay in Xiangjiang.
Huang Changzan is only temporarily serving as the chairman of Overseas Trust Bank, and he will still take over in the future!
But what Zhang Chengzhong didn't expect was that just after his father passed away, Hang Lung Bank had such a problem. For a while, he was really worried that Hang Lung Bank's situation might endanger overseas trusts, but he really couldn't agree with Zhuang Qingquan.
My proposal is to let overseas trusts help Hang Lung Bank, because overseas trusts are also riddled with holes now!
"Fortunately, the Hong Kong government has decided to take over Hang Lung Bank. I think this Hang Lung Bank incident should have passed without any danger!"
Wu Huirui preached in a relaxed manner.
Huang Changzan looked at the mother and son. In fact, he also knew that he was an excessive chairman. Sooner or later, Overseas Trust Bank would belong to this mother and son, so he just obeyed the two of them's objection to Zhuang Qingquan in this matter.
In the past few years that I have been the chairman of Overseas Trust Bank, I have just reaped enough benefits.
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Huang Changzan looked at his watch and said: "It's almost time. I guess Hang Lung Bank has received the final call from the Hong Kong government. Should we call Zhuang Qingquan to confirm?"
Zhang Chengzhong smiled and said: "There is nothing to call. That is their own business at Hang Lung Bank and has nothing to do with us!"
As a result, the office phone rang at this time.
Huang Changzan answered the phone, and then said to Wu Huirui and Zhang Chengzhong: "It's Mr. Zhuang who called."
Zhang Chengzhong smiled and said: "It seems that Mr. Zhuang is here to report to us the situation of Hang Lung Bank!"
But after he finished speaking, Huang Changzan, who was holding the phone, could no longer laugh, and even his expression began to become panicked.
"What's wrong?" Wu Huirui couldn't help but asked when she saw this.
Before Huang Changzan could answer, the door of the office was pushed open, and the three of them saw Huang Changzan's secretary walking in with two teams of people.
One of the young men in a gray suit said: "Hello, you three, I am Lu Zhilian, the chief investigator of ICAC. I am here today to..."
After Lu Zhilian finished introducing himself, another young man who was already wearing half-sleeves said: "Hello, I am Liu Baoqiang from the Commercial Crime Investigation Bureau..."
.
Chinese go!
Chu Huan was sitting in his office, listening to Xu Yi's report.
"Youde did not announce the decision to take over Hang Lung Bank at the Legislative Council meeting. At the same time, he ordered ICAC and the police department to start a joint investigation into Overseas Trust Bank..."
Chu Huan was not surprised at all by this result. To save Hang Lung Bank and Overseas Trust Bank, at least 6 billion to 8 billion Hong Kong dollars in cash would be needed. This amount of money is not a small amount for Hong Kong's Exchange Fund Administration.
Even if Yoder finally decides to save these two banks, he will still need to hold a meeting to discuss with members of the Executive Council, the Legislative Council and other members.
This will be a long process.
What's more, the Hong Kong government currently doesn't know much about the actual situation of Hang Lung Bank and Overseas Trust Bank. If it wants to convince various members at the meeting, it needs solid data to support it.
"Now we don't have to worry about the Hong Kong government taking over these two banks."
Chu Huan spoke calmly.
Xu Yi nodded and said: "That's right, our people guarding outside the Overseas Trust Bank just reported that people from ICAC and the Police Commercial Crime Investigation Division have gone to the Overseas Trust Bank. Once this news breaks out, I believe that the entire Hong Kong Central Bank will
Small banks will be in panic!”
The successive outbreaks of local bank situations in Hong Kong will plunge depositors throughout Hong Kong into panic and create a huge crisis of confidence in the credibility of these small and medium-sized banks.
As Xu Yi said, the run on banks in Hong Kong is inevitable!
Chu Huan no longer needs to care about such an established fact, "Let the bullets fly for a while, now is not the time for us to take action!"
Xu Yi nodded and said: "Yes!"
Chu Huan then left the company and returned to No. 12 Mount Galley Road.
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At this time, Cao Yunshang was teasing Chu Shige. When he saw Chu Huan coming back, he asked with a smile: "It seems that the Overseas Trust Bank incident has broken out?"
Chu Huan nodded and said: "The people from ICAC and the Commercial Crime Investigation Division have gone to overseas trusts. I believe this matter will spread in Xiangjiang soon!"
Then Chu Huan asked Cao Yunshang: "How is the acquisition of Xie Liyuan Gold Shop by Imperial Fashion Group going?"
In addition to being an important day for Youde to prepare to convene a Legislative Council meeting and allow the Hong Kong government to take over Hang Lung Bank, today is actually the time for Empire Fashion Group to acquire Xie Liyuan Gold Shop.
Cao Yunshang handed Chu Shige to the nanny and said: "Guo Guandong just called me and said that he had negotiated terms with Xie Zhichao. The two parties had verbally reached an intention to acquire Xie Liyuan Gold Shop. He also told me on the phone
I asked when the specific acquisition agreement will be signed with Xie Liyuan Gold Shop!"
Although Xie Liyuan Gold Shop was acquired by the Empire Fashion Group, it was only the smallest part of Chu Huan's entire plan. However, no matter what, when it came to Chu Huan's entire plan, Cao Yunshang would still ask the Empire Fashion Group to cooperate with Chu Huan's decision.
of.
Chu Huan said calmly: "You can do it at any time. Xie Liyuan Gold Shop is no longer needed at this time, and the later it takes over, the greater the loss will be to the Empire Fashion Group."
Cao Yunshang nodded and said: "If that's the case, then I will inform Guo Guandong and ask him to complete the acquisition of Xie Liyuan Gold Shop as soon as possible. In addition, I also want Gu Chengxi to issue a statement to our Empire Fashion Group!"
The Empire Fashion Group took advantage of the run on Xie Liyuan Gold Shop and obtained the Xie Liyuan Gold Shop at an extremely low price. This was naturally a profit for the Empire Fashion Group, but at the same time, the Empire Fashion Group also had to bear the consequences of Xie Liyuan Gold Shop.
Debt.
This chapter is not finished yet, please click on the next page to continue reading the exciting content! Therefore, the withdrawal incident cannot continue, so Cao Yunshang needs such a statement.
Chu Huan nodded and said: "Okay, you can just contact Gu Chengxi directly about this matter!"
"Um!"
Cao Yunshang nodded and continued: "There is one more thing I want to discuss with you!"
Chu Huan sat on the sofa and said helplessly: "You are still in confinement, why don't you do so many things?"
Cao Yunshang smiled happily and said: "Don't worry, I won't tire myself out. It's just that this opportunity is so good that I don't want to give it up. And there are people who actually do the work. I just make the decision!"
Chu Huan also knew that Cao Yunshang would definitely not be able to sit still, so he said: "Tell me what you think first?"
Cao Yunshang said: "Xie Liyuan Gold Shop is currently mainly engaged in the gold jewelry business, but since entering the 1980s, I have found that both the diamond business in Xiangjiang and other places has been growing, but now the international diamond business is controlled by those few In the hands of a giant, they rely on their diamond mines in Africa to control global diamond prices.
If we want to make a difference in this field and are not restricted by them, we can only find new diamond mines in Africa for development.
But you also know the situation in Africa. Without your own armed forces, it will be difficult to achieve anything. Even if a new diamond mine is discovered, you will not have the strength to protect it.
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So I thought..."
Chu Huan understood what Cao Yunshang meant. When he was in Europe, Chu Huan told Ma Jizu about setting up a security company in Jiaku and then transferring the people from the security company to Africa for training.
"I will let the people from the security company take charge of this matter when the time comes!"
Cao Yunshang nodded and said with a smile: "Actually, the best way is that if we can discover a new diamond mine, then a local armed force in the location of the diamond mine will gain power in that country..."
After hearing this, Chu Huan's eyes lit up and he said with a smile: "This is a good idea, you can consider it!"
Cao Yunshang was stunned for a moment. He didn't expect that Chu Huan would really agree with this matter. But then Cao Yunshang thought of what those diamond industry giants were doing in Africa. It seemed that it was not a big deal.
"But before that, the most important thing for us is to have a... no, several exploration teams!"
Chu Huan said with a smile: "I can't help you with this matter. You can let the Imperial Fashion Group form their own exploration team. Then I will ask Ma Jizu to protect them."
Cao Yunshang nodded and continued: "One more thing. When Shu Han came to see me before, he told me about the domestic jade business. I think I can do something about this.
Now that my hometown has been opened to development, they must have enough foreign exchange to support their development. So I was thinking about setting up an acquisition company in my hometown after completing the acquisition of Xie Liyuan Gold Shop. To buy jade from my hometown?"
Chu Huan thought for a moment and said: "I have no objection, but I can give you two suggestions!"
Cao Yunshang looked at Chu Huan curiously and asked, "What's your suggestion?"
Chu Huandao: "Since the Empire Fashion Group is not short of cash at this stage, I think we can store a large amount of domestic jade during this period. In this way, after the price of jade from our hometown increases in the future, the Empire Fashion Group can
With more jade reserves, Imperial Fashion Group will have an advantage in both price wars and costs.
In addition, you don’t need to focus only on your hometown, you can also cooperate with the Myanmar government. After all, where is the largest jade producing country now? I can ask Wu Xiaohui to contact you about this matter, but you will definitely have to pay some price in the early stage!"
After hearing this, Cao Yunshang immediately smiled: "If that's the case, that would be great, I have no objection!"
Later, Chu Huan and Cao Yunshang discussed the details of the matter!
There is nothing going on with Chu Huan and Cao Yunshang for the time being.
But in Xiangjiang, things are now in complete chaos.
No matter how few people pay attention to "Sheng Bao", there are still people who pay attention to it, and then some newspapers that sell afternoon papers also start to forward the reports of "Sheng Bao".
As a result, the matter of Overseas Trust Bank spread in Hong Kong in the afternoon, and TVB even opened a special report on it.
As a result, now, not only are people starting to withdraw money at the door of each branch of Hang Lung Bank, but also people are starting to line up at the door of each branch of Overseas Trust Bank to withdraw money.
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More importantly, the current situation is directly reflected in the Hong Kong stock market.
When the Hong Kong stock market opened in the afternoon, the Hang Seng Index plummeted 86.95 points, a drop of more than 5%. It was the largest drop in Hong Kong since the stock market crash in the 1970s!
Not only that, but on the next day, the stock markets of Singapore, Malaysia and other countries also began to be affected.
And even more media outlets took advantage of the excitement and published such front-page headlines!
'Hong Kong's darkest day since entering the 1980s!'
Such panic began to spread to all walks of life in Xiangjiang, and the banking industry in Xiangjiang was naturally the first to bear the brunt.
Nowadays, reports about the operating problems of small and medium-sized banks in Hong Kong have begun to appear in major newspapers.
At this time, the citizens of Xiangjiang no longer cared whether this was true or not. Every bank that appeared in the newspaper began to see depositors queuing up to withdraw money!
The run on banks in Hong Kong has completely taken shape!