The flowers in the factory of rebirth are too fierce

In mid-July, a small amount of international capital began to test the Hong Kong dollar. The Hong Kong Island Monetary Authority only used US$7 billion in foreign exchange, coupled with some conventional policies, to stabilize the situation.

Ordinary Hong Kong Island citizens barely realized what happened before the incident was over, without affecting their continued immersion in the prosperity at all.

At that time, Hong Kong Island was the world's fourth largest financial center, the sixth largest foreign exchange trading market, and the second largest stock trading market in Asia. Hong Kong Island's major banks and other depository institutions had a total of nearly one trillion U.S. dollars in overseas assets, accounting for 8% of the world's total. %.

In the first half of 1997, Hong Kong Island's economy maintained rapid development, and the property and stock markets continued to hit new highs. Whenever a new property goes on sale, there will be long queues the night before. As a barometer of Hong Kong Island's economy, the Hang Seng Index of Hong Kong stocks has been soaring, and on the last day of July, it exceeded 7 points for the first time.

There are various signs that the financial crisis seems to have been blocked by Hong Kong Island.

But is this really the case?

Compared with other markets in Asia, Hong Kong Island has a profound heritage, but its shortcomings are also obvious: a huge real estate bubble, high household debt, over-reliance on borrowing by enterprises, a serious trade deficit, etc.

These problems are also clearly seen by international speculators. Therefore, although they have not made any big moves, they have already begun secretly hoarding Hong Kong dollars and futures contracts, waiting for opportunities.

Sure enough, in mid-August, they launched the first round of attacks on the Hong Kong dollar.

On August 8th and 15th, speculators sold 16 billion Hong Kong dollars in a concentrated manner. The Hong Kong dollar and the US dollar implement a linked exchange rate system (a type of fixed exchange rate system). The stability of the Hong Kong dollar is ensured by being linked to the US dollar. Since 40, the exchange rate of the US dollar against the Hong Kong dollar has been fixed at 1983-7.75.

Affected by this wave, on the 15th, the exchange rate of the US dollar against the Hong Kong dollar once reached the warning line, and the Hang Seng Index fell by 2.43%. On the next trading day, the Hang Seng Index fell below 16000 points and fell to more than 9 points in early September.

But Hong Kong Island and Siam are different. You know, Hong Kong Island’s foreign exchange reserves at that time amounted to nearly US$1000 billion. Therefore, like last time, the Hong Kong Monetary Authority used U.S. dollars in foreign exchange to recover excess Hong Kong dollars in the market and at the same time raised interest rates, once again resolving the crisis.

For the small people in Shengdou, the financial crisis affects their jobs and their livelihoods, but for a big family like Mr. Li, every big fluctuation in the exchange rate and every turmoil in the stock market can cause serious consequences for their family. Total assets fluctuate in the tens or even hundreds of millions.

If Hong Kong Island cannot hold on and becomes like Siam and Malaysia, where the stock market crashes, the property market collapses, factories shut down, and companies go bankrupt, then the rich will not lose even a penny.

Even though Mr. Li is sitting on a yacht, surrounded by charming beauties, drinking a bottle of top-quality white wine that costs thousands of dollars, the anxiety in his heart is not something outsiders can understand.

The reason why he entertained Song Qin and Lin Zhiyuan so generously this time was actually because of his family's instructions.

For families like Mr. Li, during the turbulent period after the financial crisis, the most important thing was to transfer assets to safe areas.

In this current situation, the mainland is undoubtedly their best choice.

On this occasion when they were supposed to be talking about Fengyue, Mr. Li talked about the current economic situation in Hong Kong Island. He actually did it on purpose. He wanted to see the reactions of Song Qin, Yu Yue and Lin Zhiyuan.

But what disappointed him was that Song Qin and Yu Yue didn't seem to listen to him at all, and were focused on teasing the pretty girls around them. Only Lin Zhiyuan showed concern after hearing what he said.

At this moment, Mr. Li made a position for these three people.

Song Qin and Yu Yue were both useless dandies, but Mr. Lin looked like a man of affairs.

Sure enough, in the following conversation, Mr. Li deliberately mentioned that his family intended to develop and expand in the mainland and invest in the mainland.

Song Qin and Yu Yue both said on the spot that as long as Young Master Li was of use to them, they could just say so.

Lin Zhiyuan fell silent instead.

Mr. Li knew what was going on, so he stopped talking about such topics and started talking about Fengyue instead.

The protagonist at the wine table has also changed from Master Li to Director Huang.

Compared with Yu Yue and Song Qin, Director Huang is simply an expert in romance. Otherwise, how could he make a movie? Just throw something out, and Song Qin and Yu Yue will be amazed, and Lian Lian sighs that they can still play like this.

The five little stars brought by Director Huang seemed to be used to this kind of scene. Instead of being angry, they were adding fuel to the fire. Soon the atmosphere became ambiguous and humid.

Song Qin and Yu Yue were both eager to try and impatient.

Mr. Li smiled and said, "A moment of spring is worth a thousand pieces of gold. Mr. Song, Mr. Yu, Mr. Lin, let's not waste time and hurry up and go back to the room to rest!"

Lin Zhiyuan raised his head and smiled at Song Qin, "Brother Song, you will do this for me. The cabin is stuffy. I'm going to smoke a cigarette on the deck to get some fresh air." After saying this, Lin Zhiyuan stood up and left.

Song Qin laughed happily and scolded, "You deserve your lack of beauty!"

His left hand was magnificent, his right hand was long, and he hugged him from left to right into the bedroom of the yacht.

Seeing this, Mr. Li's eyes flashed with excitement. He pushed the beautiful girl next to him to Yu Yue, "Mr. Yu, those who are capable work hard. I will leave this to you. You can't lose to Mr. Song." ah!"

Yu Yue followed suit and entered another bedroom with two beautiful girls in his arms.

Mr. Li took two wine glasses and a bottle of wine and walked out of the cabin. When he saw Lin Zhiyuan sitting on the sofa on the deck blowing the sea breeze, he walked over and poured two glasses of wine.

"Is Mr. Lin worried about the influence? Don't worry, the people on this boat are all my people. They are very sensible and will not go out and talk nonsense."

Lin Zhiyuan took the wine glass, smiled and shook his head, "That's not the reason, mainly because I don't think it's interesting."

"Mr. Lin, do you mind if I sit here?"

"Master Li is joking, this is your ship, why would I mind?"

The two drank wine and admired the sea at night.

Mr. Li asked Lin Zhiyuan some information about the Lesteel Yangcheng Branch project. Lin Zhiyuan answered all questions and answered in detail.

"Mr. Lin, I can tell you that as long as your company produces products, it will have no worries about sales."

"Why can Mr. Li be so sure?"

"Hong Kong Island! How much construction steel is consumed in Hong Kong Island alone every year? My family has a real estate company, so I am quite familiar with the situation. After the 1960s and 1970s, Hong Kong Island entered rapid development. In this period, how many new skyscrapers were built in the Victoria Harbor area alone? There are no steel plants on Hong Kong Island, and almost all the steel needed needs to be imported. Geographically speaking, Mr. Lin’s company is the closest to Hong Kong Island..." Mr. Li The analysis is clear and logical.