The Son of Finance of the Great Age

  Chapter 991 Exchange Rate Reform

   "We should announce this tomorrow."

Not long after the market closed, a meeting on the timing of RMB reform was held within the central bank. The preliminary work has been discussed and verified by the highest level, the Ministry of Finance, the central bank and other institutions. Now there is only the last topic left. That is, when to announce and implement this reform measure.

  The choice of timing is very important, because the exchange rate reform is a major measure that may have an impact on all aspects of the economy. How to avoid and minimize these shocks and influences is what the final implementation department central banks have to consider.

  Generally, when market regulators, the central bank or the Ministry of Finance release important news, they all choose to release it after the market closes on Friday, in order to reduce the impact on the capital market, and at the same time reserve two days off for the market to digest the news. Of course, the choice of these timings is not absolute, otherwise it would be too dogmatic.

Not long after the meeting started, Gao Dongfang first stood up and said, "The market has soared by nearly 5% today, and it looks like it is approaching 4,000 points. To a certain extent, it promotes the performance growth of some listed companies, and the expectations formed can also promote the growth of the stock index.”

   After he finished speaking, many people nodded.

As masters in the capital market, Gao Dongfang, Li Bin and others have already transferred to the central bank for support when discussing exchange rate reforms in order to deal with the upcoming foreign exchange attacks. After all, compared with the stock market, the scale reaches tens of trillions. The foreign exchange market is more important.

  At this time, the people in the conference room included administrative officials, economists, and Gao Dongfang, who had rich operating experience in the capital market. On this issue, Gao Dongfang and others have enough say.

"this…"

After thinking for a while, Li Bin slowly opened his mouth and said, "Although that's what I said, but at present our follow-up funds are not in place. If we act rashly, if the short sellers combine the attack in the foreign exchange market and launch an attack in the stock market at the same time, Then we will always be unable to hold one end. Now it seems that the probability of the stock market falling is higher."

"what?"

   “Our follow-on funding is not in place?”

   "What the **** is going on? The stock market is still going up today?"

  Li Bin's words were like a heavy bomb, which immediately blew up the originally quiet meeting. The participants discussed one after another, regardless of the discipline of the meeting place. It was the first time they had heard such news, and they were naturally shocked.

   Gao Dongfang's private transaction with Zhong Shi is highly confidential, and even Li Bin and others don't know about it.

   "It is really difficult to protect the capital market by relying solely on the good news given by the policy, rather than the investment of real money."

Li Bin didn't pay much attention to the sensation caused by his words. After looking around lightly, he continued, "We are now recruited to the central bank in order to fight back against the impact of international short sellers on the renminbi at a critical time. It can be said that this kind of impact is a high probability event. However, everyone should also be aware that there is also a short seller raging in the domestic stock market. Although the stock market has temporarily stabilized due to the intervention of rescue funds, the rescue funds In fact, there is not much left in the previous round of bailouts, and follow-up funds have not yet been conceived, at least so far. So once it is announced at this time, I think the stock market will have a high probability of a catastrophic market again.”

"And we all know that the domestic stock market trend has little to do with import and export. When the exchange rate is adjusted several times, the stock market has not seen too much fluctuation. Therefore, I think Mr. Gao's so-called currency depreciation can stimulate the market. Upside claims lack evidence."

   "So in your opinion, when should we announce this new policy?"

President Jin, who has been silent all this time, frowned, looked at Gao Dongfang, then at Li Bin, and finally asked, "M2 data in July increased by 1.5% compared to last month, and the economic downturn has exceeded According to our central bank’s expectations, currency depreciation under such circumstances has become the consensus of all parties, and this matter cannot be delayed for too long.”

   "At least until the second phase of the bailout funds is in place."

After thinking for a while, Li Bin said, "At present, the relationship between the foreign exchange market and the capital market is not the fish and the bear's paw. It is entirely possible for us to protect both markets. Since we can do this, why don't we wait any longer?" What about a period of time? According to the current trend of the stock market, the favorable policies will soon be exhausted, and if there is no strong capital intervention, then we will definitely lose one of the markets.”

   "According to Assistant Li, the strong funds appearing in the market today are not bailout funds?"

At this time, a middle-aged scholar wearing glasses couldn't help but ask, "Assistant Li probably didn't notice today's market, right? Originally, the index rose to 3860 points due to favorable policies, but in the afternoon, the short sellers became fierce. The counterattack once suppressed the index to close to 3,800 points, but at this moment, an extremely strong fund fell out of thin air, directly blowing up the shorts, and took advantage of the trend to push the index to above 3,900 points."

"Now the market is circulating that this fund is the second phase of the bailout funds, and there are also pictures of documents raising the second phase of the bailout funds. Others say that this is the simultaneous sale of the three funds set up by the bailout funds, and that The bailout funds have changed the operation strategy. In short, there are various theories, but now it seems that the fact does not seem to be the case?"

  This middle-aged scholar’s ​​opinion does not represent him alone. Most of the people present who don’t understand the situation have similar questions, even including Li Bin himself.

"this…"

   Li Bin couldn't answer this question at all. After a moment of silence, he turned his attention to Gao Dongfang, "Everyone, you may want to ask Mr. Gao about this. I really don't know the source of this fund."

   "First of all, I have to say that this matter was only a small-scale secret before that, and it was not classified as a secret."

Seeing so many eyes staring at him, Gao Dongfang felt pressured. After weighing in his heart for a moment, he decided to explain the whole thing, "Since everyone asked this question, let me explain this question to you. In the After the second-phase bailout funds fell into a seesaw of bargaining, we urgently discussed this issue, and finally decided to borrow part of the funds from the market to cope with the current situation. This is why you see the reason why there are strong funds today, This fund does not belong to rescue funds. However, according to the lending agreement, all current positions still belong to rescue funds, and we will take over these positions immediately after our funds are in place. From this perspective, it can also be said that this fund belongs to rescue funds funds."

   "I just don't know how long these funds can last?"

No one realized that a look of joy flashed across Li Bin's eyes, and everyone only saw his solemn expression afterwards, and he asked in a deep voice, "If the second phase of the bailout funds can't be resolved in the short term, what will happen?" Then relying on this borrowed funds alone is probably very dangerous, right?"

   "You can rest assured that for at least a month, this fund will firmly hold the stock market."

   Regarding this point, Gao Dongfang was very relieved, and immediately said loudly, "I'm afraid it won't take so long before we will return to the stock market. That's why I boldly suggest that the news should be announced tomorrow."

   "If that's the case, then I'm relieved."

  Li Bin nodded, then looked at President Jin, "President Jin, if everything is as Mr. Gao said, then I have no objection to the announcement of the new policy tomorrow."

   "Since this is the case, do other people have any other opinions?"

  President Jin nodded, then looked around and asked, no one spoke for a while, and immediately decided, "If this is the case, then form the meeting minutes and submit them to the superior for approval. It is initially expected to be announced tomorrow morning."

  Originally, the main purpose of this meeting was to discuss the impact of the announcement on the stock market. Now that Gao Dongfang and others have reached a consensus, the whole matter is basically guaranteed.

  …

   “The central bank will announce exchange rate reform tomorrow.”

Not long after the meeting ended, Xu Fei, who was far away in Suhai, received the news, "The specific reform measures are to change the current pricing formation mechanism of the exchange rate announced by the central bank, from the previous reference price announced by the central bank to the previous reference price by market makers. The closing price of the day, as well as the supply and demand relationship in the market, allow market makers to jointly quote a reasonable price.”

   "Is the thing we've been waiting for a long time finally happening?"

   Zhou Changan on the side moved his head away from the chest of the beautiful woman beside him, picked up a glass of bubbling champagne and drank it down, wiped his mouth and said with a smile, "Hehehe, I seem to see bills flying all over the sky."

  This is a private club, and the two of them come here for leisure after a day of high-intensity work. Just after Xu Fei sat down, Zhou Changan came over with several tall beauties, and forced two of them to Xu Fei, in the name of relaxing.

  The two began to enjoy with a smile, but not long after, the phone in Xu Fei's arms buzzed.

   "Also, guess what happened to the funds that suddenly appeared in the market today?"

  Xu Fei, who had read the message, was in a good mood. He also took a glass of champagne and drank it down. He smiled and said to Zhou Changan, "I'm afraid you can't figure out what's going on without breaking your head!"

"What's wrong?"

  Zhou Changan was stunned for a moment, scratched his head and asked, "Isn't it just like the rumors in the market, is this a fund established with rescue funds? Could it be that there is something inside it?"

"good."

Xu Fei laughed loudly, "I said Mr. Zhou, you are wrong about this. In fact, my guess was not wrong. The bailout funds were really exhausted, but this time I was dumped by that guy named Zhong Shi." One. Do you know, this guy took out his own funds to attack us, the money is his own money, I said why is his style so fierce, it is not like the previous style at all."

   "It turns out he paid for it himself?"

When Zhou Changan heard the name Zhong Shi, Zhou Changan shuddered all over, and almost dropped the wine glass in his hand, "This guy actually paid for it himself? Did I hear correctly? How much money does he have, is it worth throwing it in like this? "

   "It doesn't matter how much money you have, at most tens of billions, maybe hundreds of billions."

Xu Fei was in a good mood when he got the news, so he took the initiative to pour himself a glass of strong whiskey and drank it down, "Hahaha, as long as this guy can't give orders to his funds, the market will be in a vacuum during this period. You can do whatever you want, Mr. Zhou, what do you think?"

  Suddenly drank so much wine that he was already a little drunk, and when he turned his head to look at the female companion beside him, a cloud of evil fire suddenly surged in his heart. At that moment, he suddenly grabbed the other person's hair, pressed his head and moved closer to his body.

   "This guy is really crazy."

Seeing this action, Zhou Changan thought to himself, but this fact is so common that this thought only stayed in his mind for a second, and then he was thrown away, "If you follow his That being said, this is indeed a good opportunity, and I really need to make a good plan.”

   Thanks to book friends 140106105136697, wggalex and many other book friends who voted monthly! The writing of this book has exceeded my expectations, so let’s just let it go. Thank you very much for your support. I hope more book lovers can pay attention to this book~

  (end of this chapter)