It is said that it is rude to come and go without reciprocating. On Sunday morning, this day happened to be a day for most citizens to take a vacation, but there was a long queue outside Hang Lung Bank, all of which were citizens withdrawing money.
I don’t know whether it was accidental or intentional, but the Jiashi live broadcast team happened to be at one of the Hang Lung Bank branches.
Suddenly, the news that Hang Lung Bank misappropriated depositors' funds to expand its own industry spread throughout Hong Kong at an extremely fast speed.
This is the fourth bank run in Hong Kong after the runs on Xin Jian, East Asia and Dao Heng.
The chain effect is very scary. There are runs on these well-known banks, and citizens who deposit their money in small and medium-sized banks are even more worried.
As a result, there were long queues at major bank branches today, and even HSBC and Standard Chartered experienced small-scale cash runs.
The Xiangjiang Monetary Authority, which had not taken it seriously before, was now completely panicked. They had no time to cause trouble for Xin Jian.
While withdrawing the investigation team, a press conference was held, stating that several major banks were operating well and that their internal liquidity was well above the warning line set by the Monetary Authority. The general public was advised not to worry about damage to their money deposited in banks.
It's a pity that now the Monetary Authority can no longer rest assured with just a few words. Citizens can only rest assured now when they have their money in their own hands.
In the afternoon of the same day, several branches of small and medium-sized banks, including Hong Kong Kwong On Bank, Wing On Bank, Ka Wah Bank, Overseas Trust Bank, Conian Bank, Union Bank, etc., announced the suspension of operations, which further deepened the panic among citizens.
The only local banks that can still maintain normal operations in Hong Kong are Standard Chartered, HSBC, Xin Jian, Dao Heng, East Asia, Heung Kong Asian Commercial, Sun Hung Kai, Hang Lung, Wing Lung, Hang Seng and other banks that are backed by large forces.
In the afternoon of that day, various press conferences were held intensively. Wing Lung Bank reached strategic cooperation agreements with Global Shipping, Wharf, Wantai Clothing, Xingfu Enterprise Group, etc., and the account funds of several major groups will be transferred to Wing Lung Bank.
At the same time, Sun Hung Kai Bank also announced that it has reached strategic cooperation with Henderson Land, Sun Hung Kai Properties, Chow Hing Properties, Chinachem and other groups. In the future, Sun Hung Kai Bank will be responsible for the banking business of these major groups.
Not to be outdone, Hang Lung Bank also announced that it has reached strategic cooperation agreements with Cheung Kong, Shun Tak, Great Eagle, Wireless, Golden Harvest and other companies.
Suddenly, Wing Lung Bank's reputation has soared. The small and medium-sized bank that once had little reputation has become comparable to banks such as Hang Lung and Sun Hung Kai because of its cooperation with many groups.
Especially in the current situation, with the strong support of several major groups, Wing Lung will definitely become one of the largest banks in Hong Kong after this crisis is overcome.
Among the local banks today, only HSBC, Standard Chartered, Dao Heng, East Asia, and Xinjian have not held any external press conferences, and they are full of confidence in the current crisis.
At Wheelock Building, Li Jianhui said to Li Zaiwei: "In the past two days, you have carefully investigated these banks that are in crisis, screened out some potential ones, and acquired them if possible."
What it has evolved into now is indispensable to Li Jianhui's credit. This time he not only wants to fight back against the coalition camp, but also wants to bring down these small and medium-sized banks.
At present, there are too many small and medium-sized banks in Hong Kong. Instead of waiting until three years later, Li Jianhui feels that it is better to detonate them now.
Moreover, Li Jianhui believes that he is not the only one who has such an idea. It is estimated that Hang Lung, Sun Hung Kai, Wing Lung and other banks also have such ideas.
This may seem like a crisis to many people, but for them it is an opportunity. The opportunity for rapid mergers and acquisitions and expansion is coming.
The incident has fermented, and now we just need to wait quietly. Banks with the support of big forces will naturally survive smoothly, while those banks without the support of big forces and with a relatively high proportion of real estate loans can only resign themselves to fate.
Li Zaiwei smiled and said: "Li Sheng, I have already researched the banks that may have problems at present, and the one that is more useful to us is Overseas Trust Bank.
In addition, I plan to let Xingsha Investment Company acquire Union Bank and Yuntao Investment Company acquire K. Wah Bank, transforming the two major investment companies into financial groups. Many of our operations will be more convenient in the future."
Li Jianhui has no objection to Li Zaiwei's proposal. Now that his apparent assets are already very strong, letting Xingsha Investment Company and Yuntao Investment Company come out will also help reduce the growth rate of his apparent wealth.
After these two investment companies have banks, just like Lanfeng Investment Company, their funds no longer need to be placed in Xinjian Bank.
At the same time, Li Jianhui also asked Li Zaiwei to arrange for the six major investment companies, Meiya, Lipu, Quanyuan, Nanlong, Lanxi, and Huaying, to acquire as many banks as possible in the local headquarters.
Li Jianhui has a very broad layout. The six investment companies are headquartered in Los Angeles, London, Tokyo, Kuala Lumpur, Paris, and Vancouver.
Together with Xingsha and Yuntao in Xiangjiang, as well as Lanfeng in London, the nine major investment companies have become his right-hand man to cover up his wealth.
Li Jianhui also puts a lot of effort into management. Apart from him, Chen Xinyi, Chen Yulian, Guan Jiahui, and Zhou Jiayi, only the second sister Li Chunmei, Wu Jiankun, Li Zaiwei, and Zhou Pengfei from the political and economic research office are fully aware of these investment companies.
Even the heads of various investment companies themselves do not know that these investment companies are their allies. They are all under the command of Zhou Pengfei or Li Zaiwei, or Li Chunmei and Li Jianhui alone.
However, there is no shortage of political and economic office personnel around these persons in charge, and they monitor the company very strictly. At the same time, the main persons in charge of the company's finances are all members of the accounting firm owned by Li Jianhui.
As the Xinjian Department continues to develop, Li Jianhui will train a group of capable but relatively low-key people to hold important positions in these companies in the future.
As the industry continues to develop, Li Jianhui also has more departments, including the political and economic office, the internal coordination office, the finance department, and the legal department.
At the same time, in order to supervise the internal supervision of major enterprises, a special review department has been established.
In addition, in order to prevent the Political and Economic Office from becoming a dominant force, Li Jianhui began to strip the Political and Economic Office of its internal supervision authority over the Xin Jian Department. In the future, the information obtained by the Political and Economic Office will only be disclosed to the outside world, and internal aspects will be transferred to the Confidentiality Office.
In the future, the confidentiality office will not only be responsible for the management of important documents of the Xinjian Department, but also be responsible for the supervision of internal situations, becoming another major intelligence agency.
Especially in the eight major investment companies and Blue Maple Investment Company, there are staff from the Political and Economic Research Office, the Security Office, and the Review Department, forming a situation where multiple departments jointly supervise.
Coupled with the financial review every quarter, Li Jianhui believes that these companies will not have any major problems.
Especially as these companies continue to expand, he will be able to put more personnel in and put these companies under his absolute control.