Go back to 1990 to start a business

After breakfast, the first guest with a reservation arrived.

This is a short-haired, capable woman with a smile on her face. She is in her late fifties, but she looks like she is in her thirties. She speaks clearly and crisply, with the demeanor of a strong woman.

"Hello Mr. Xia, my name is Cha Shi Meilun."

Cha is her husband's surname, and her own surname is Shi. Although Hong Kong law abolished the custom of naming her husband's surname in the 1970s, women of high status follow the tradition. On the contrary, people will feel respect after hearing their name. This is not casual. woman.

"Welcome, please take a seat." Xia Chuan smiled brightly. This was a future talent, the first deputy-level boss recruited from outside in the Mainland.

Xiuhua served tea in person, and Shi Meilun politely thanked her.

Xia Chuan went straight to the point: "Ms. Shi, you have always adhered to the principle that only shares with the same rights can be listed. Is this right?"

Huang Xiuhua was shocked at first, you are challenging the financial tradition.

Shi Meilun was extremely solemn and said slowly: "All exchanges in the world pursue the same rights for the same shares. This is true for Twist and Nasdaq. If the most basic things cannot be guaranteed, how can there be fairness?"

Xia Chuan asked again: "Do you think it's right?"

Shi Meilun was really sweating.

She knew that Boss Dong was an opera singer and the scripts were all written by Xia Chuan.

Now Xia Chuan is extremely powerful. If she dares to say she is right, her future will be ruined immediately, but saying she is wrong violates her own ethics.

She was helpless and could only say skillfully:

"Perhaps we are all narrow-minded and cannot see the future. Can you tell me why it is wrong?"

Xia Chuan's eyes showed appreciation: "You can still save something. At least you admit that you are very narrow-minded, which is true."

Shi Meilun was on the verge of tears, and Huang Xiuhua was a little embarrassed. You are talking to a woman.

Xia Chuan continued: "We are in an era of rapid change, and we must adjust our positioning and pace in a timely manner to keep pace with the times.

Any reform faces costs and risks.

While we are concerned about the costs and risks of reform, we often overlook the costs and risks of not reforming.

Because the costs and risks of not reforming will only become apparent after several years.

When you look back, you will find that the people who paid the price for your preservation are the next generation.

In the face of challenges, should our generation be more courageous and shoulder our responsibilities? "

Shi Meilun was shocked and said solemnly:

“These are all correct, but what’s wrong with equal shares and equal rights?”

Xia Chuan smiled and said: "Let me correct you. I did not say that same shares with same rights is wrong, but more than one is right. Your mistake is that 'same shares with different rights' cannot be listed on the market."

Shi Meilun's eyes narrowed, and he faintly saw a glimmer of hope. If this was the case, it might be possible to open an opening for Xia Chuan's company.

Xia Chuan continued: "You need to understand the trends in the future first.

First, the first driving force and the first dividend for the future development of the world will be mainland Internet companies.

You must allow the mainland's best high-quality Internet high-tech companies to be listed, so that Hong Kong can rapidly grow and become a world financial center that surpasses Niu Yue.

On the contrary, if you are more conservative than them, what are the consequences?

I am very responsible to tell you that Nasdaq will change its rules. They don't have the same problems as you. As long as the company has no problems and can bring huge benefits to shareholders, then specially modify the rules for this company and there will be no problem at all.

What happens then? All Internet companies are listed on Nasdaq.

Do you believe that many of these companies will grow into Internet giants with a market value of hundreds of billions of dollars?

Mainland enterprises are still very weak. If they want to avoid being invaded by capital, they cannot have the same shares and rights, otherwise they will be directly annexed by capital.

Are you going to exclude all such companies that are on the forefront, have huge growth potential, and can bring huge returns to shareholders?

If we miss the development dividends of the mainland, miss the opportunity for Hong Kong to develop and grow, and let Shanghai replace Hong Kong's status, then decline will follow.

Your conservatism will make the next generation suffer the consequences, and they will scold you.

Of course, no one is scolding us now because we can’t see the future clearly. Your generation and the next generation are all equally narrow-minded.

Second, don’t think that I am seeking personal gain for myself. Do I need it? I have different rights for the same shares. Will the United States not let me go public?

I am here for the development of Hong Kong. I hope that we are a community of interests, with complementary resources and mutual growth. Especially when East and West are torn apart, we will not be controlled by others.

I hope you have a sense of the overall situation. Can we develop without relying on the mainland? Why do you develop if it is unnecessary? Haven't you even thought about this? "

Shi Meilun's face turned blue and white after being scolded, but she finally believed that Xia Chuan was right. Xia Chuan's prediction of the future was so convincing that he never missed it.

She said decisively: "I can speak out for the mainland, but not elsewhere. Equal shares and equal rights are the basis of the joint-stock system and cannot be completely overturned."

Xia Chuan nodded: "Yes, we must insist on equal shares and equal rights, and special treatment will be given to special circumstances. Does the Hong Kong Stock Exchange now use computer-automated trading?"

"This is the first generation of automatic market matching and transaction system, which was launched in November 93."

"Can only be traded on the exchange?"

"Isn't that the case for everyone?" Shi Meilun regretted it after saying it. It seemed that he had said something just now and was criticized.

Sure enough, Xia Chuan sighed: "What you have to do is to go beyond twisting the waist, not to follow others and take one step at a time. You must lead the world, you must lead by a large margin. You must be the first to do what others can't do. Only in this way can capital be attracted.

Immediately develop a second-generation automatic order matching and transaction system, which must be connected to the terminal of a securities firm, and trading instructions cannot be limited to the exchange.

At the same time, we reserve the right to develop a third-generation automatic order matching and trading system. Securities brokers can directly input buying and selling orders into the central processing system for transactions through open connectors, striving to increase transaction speed and increase the amount of data that can be processed.

You have to understand that if a financial crisis comes, we must ensure that 100 million transactions per day do not go down. This is the key to winning. Half of Xiangx's future depends on you, okay? "

Shi Meilun was extremely ashamed. She always believed that she was an outstanding person, but Xia Chuan was obviously not human and could not be compared.

She said simply: "I will do a good job. Tell me what reforms are needed and I will implement them."

"Well, good. The securities and futures markets must be comprehensively reformed to improve their competitiveness and meet the challenges brought about by market globalization.

First, merge the three companies of SEHK, Futures Exchange and Clearing into a single holding company, with the exchange as the controlling shareholder.

Second, it can also be listed on the exchange. Don’t wait for others to do it first.

Third, financing and acquisition of the London Ton Metal Exchange, and global layout.

Fourth, initiate the establishment of a joint trading center in the mainland.

The mainland financial market is still relatively chaotic. When governance begins, various exchanges will be cancelled, such as cultural relic exchanges, digital currency exchanges, etc. This is our opportunity. Our financial system is sound and fully controllable. . "

Shi Meilun's eyes became brighter and brighter, and his heart suddenly became enlightened. The future is so bright!