In Hong Kong, we build a global business empire

Chapter 660 A New Overlord Ascends the Throne: Bank of East Asia Officially Crowned as Hong Kong's Largest Bank!
Ten minutes passed quickly in a tense and oppressive atmosphere. The senior executives in the conference room whispered among themselves, weighing the pros and cons.

The senior executives at Standard Chartered Bank mostly represent the interests and demands of the various shareholders.

Therefore, each high-ranking official essentially represents the will and inclination of a certain major power.

Ten minutes later, Lord Derek Barber cleared his throat, scanned the room, and said, "Time's up. Voting will now begin."

The senior executives raised their hands to express their decision.

Some directly supported Lord Derek Barber's proposal, believing it to be the most feasible solution at present;
Some hesitated, but ultimately raised their hands following the majority opinion.

According to statistics, most senior executives agreed with Lord Derek Barber's proposal, which allowed the Bank of East Asia to choose two of the four conditions as the basis for cooperation.

Lord Derek Barber nodded slightly, feeling somewhat relieved: "Good, now that we've reached a consensus, let's proceed with the communication and negotiation with the Bank of East Asia according to this plan. We need to expedite this matter and not let this opportunity slip away."

For Standard Chartered Bank, a delay of two or three days is already a waste of time.

Soon, the decision from Standard Chartered Bank headquarters reached Brown, the head of Standard Chartered Bank's Hong Kong branch.

……

July 26th, morning.

Lin Haoran slept until he naturally woke up.

I glanced at the alarm clock on the bedside table; it was already 8:30 a.m.

He stretched his arms and yawned before getting up.

After brushing his teeth and washing his face, the maid had already prepared breakfast and a newspaper for him.

Lin Haoran first picked up the Oriental Daily, and his eyes were immediately drawn to a very eye-catching headline.

"A new hegemon has ascended the throne; Bank of East Asia has officially been crowned the largest bank in Hong Kong!"

The detailed content is readily available in the financial industry report released by Global Research.

Based on detailed data and insightful analysis, the report accurately analyzes and predicts the current market share structure of Bank of East Asia and HSBC from multiple dimensions.

Below this headline news article are several articles that provide in-depth analysis and further discussion based on data from a financial industry report released by Global Research.

"With its capital exceeding HK$100 billion for the first time, Bank of East Asia is ushering in a new era of dominance for Chinese-owned banks!"

"With its market share soaring to 44%, Bank of East Asia has crushed HSBC with overwhelming force, profoundly reshaping Hong Kong's financial landscape!"

"The duopoly lasted only a few days before Bank of East Asia surged ahead again, leaving Huifeng Bank far behind!"

Lin Haoran quickly scanned the contents of the newspaper, a smile unconsciously creeping onto his lips.

As expected, Bank of East Asia's ascension to the position of Hong Kong's largest bank will undoubtedly cause a huge stir throughout the city.

When a new hegemon rises to power, the old hegemon naturally has to step down from its high position.

He put down the newspaper, had a quick breakfast, and then took a car to the Kang Le Building.

During this period, due to matters concerning the Bank of East Asia, he visited the Kang Le Building less often and spent most of his days at the Bank of East Asia headquarters.

Along the way, the Oriental Daily was prominently displayed on the newsstands outside the car window, attracting many pedestrians to stop and buy it. Talk of East Asia Bank becoming the new dominant force could be faintly heard in the streets and alleys.

Just as he had expected, at this moment, the entire Hong Kong was engulfed in an unprecedented wave of financial discussion because of this matter.

Because it was an exclusive report, the Oriental Daily News experienced an unprecedented buying frenzy today.

Although Cui Zilong had anticipated this and knew that it would cause a sensation, he specifically instructed the printing plant to print a full 500,000 copies of the newspaper.

Unexpectedly, before noon, news came from various newsstands that the newspapers had already sold out.

Seeing this, many newsstand owners hurriedly placed additional orders, fearing they would miss this golden opportunity to make money.

The printing plant was also extremely busy, with machines roaring and workers working overtime to urgently reprint to meet market demand.

This is a chance to break newspaper sales records, so we can't just let it go once it's sold out.

This demonstrates that the enthusiasm of Hong Kong citizens for Bank of East Asia's rise to become the largest bank in Hong Kong is beyond imagination.

Meanwhile, the owners or executives of other mainstream media outlets in Hong Kong were experiencing a complex mix of emotions.

They watched helplessly as the Oriental Daily News made a fortune from this exclusive report, with its reputation and sales soaring, and they were filled with regret and resentment.

If we continue to avoid discussing matters related to Huifeng Bank, wouldn't we be watching Oriental Daily dominate traffic every day, attracting readers and advertisers to it?

Thinking of this, many editors-in-chief or bosses of mainstream media no longer hesitated, and decisively dispatched their own teams and paparazzi to the front lines.

They scrambled around, trying every possible way to uncover inside stories about the hot news related to Huifeng Bank and Bank of East Asia, attempting to get a share of this news feast and salvage some of their lost face and market share.

As for giving face to Huifeng Bank?
Huifeng Bank is no longer the powerful force they couldn't afford to offend. So why bother with past relationships?
As long as they can dig up juicy scoops, attract public attention, increase their media's visibility and influence, and raise advertising revenue, they don't care about anything else.

For a time, the streets and alleys of Hong Kong, as well as inside and outside financial institutions, were filled with these mainstream media teams and paparazzi.

They disguised themselves as various individuals, infiltrated various financial gatherings and business negotiation venues, and kept their ears and eyes wide open, not letting go of any detail that might become a news lead.

Some paparazzi waited outside the headquarters of Huifeng Bank, watching everyone who came in and out, trying to catch a clue about the current state of the bank from their expressions and words.

Some infiltrated Bank of East Asia's customer base, subtly inquiring about their views on Bank of East Asia becoming the largest bank, and whether they would increase their cooperation with Bank of East Asia in the future.

Inside Sir Michael Sandberg's office at the headquarters of Huifeng Bank.

Shen Bi stared intently at the newspaper in his hand, his anger burning fiercely in his chest, and the veins on his forehead bulging.

This report in Oriental Daily News is like putting Huifeng Bank on the hot seat!
Originally, Huifeng Bank planned to keep a low profile, gradually seek financial support, shrink its lending and investment business, and try to get the external funds to flow back slowly. In this way, it might be able to weather the crisis safely.

What does it matter if their market share decreases a bit? As long as they can maintain their foundation, they will still be one of the giants in the financial world.

However, the Oriental Daily News report has once again brought Huifeng Bank into the spotlight, keeping it in the public eye and making it a topic of conversation for many.

Shen Bi felt a surge of heat rush to his head, and he was so angry that he almost lost his mind.

"Mr. Sir Michael Sandberg, a lot of reporters have come downstairs, all clamoring to interview you!" The secretary knocked cautiously on the door and entered, reporting softly with worry in her eyes.

"No! No one! Throw them all out!" Shen Bi was so angry that he swept his hands out, knocking the documents off his desk and scattering them all over the floor. The papers fluttered down in the air, just like his troubled mind.

Chinese Plaza, Cheung Kong Holdings headquarters, Chairman's office.

Li Jiacheng's gaze was fixed on the eye-catching headline in the newspaper, his brows furrowed into a deep frown, and his anxiety surged like a tide.

Cheung Kong Holdings and Hutchison Whampoa, these two business giants, have long been closely tied to Hui Fung Bank.

The company's cash flow is like a series of blood vessels, all of which rely on Huifeng Bank, its "heart," to maintain its operation.

As a top tycoon in Hong Kong's business world who wields considerable influence, and as a member of the board of directors of Huifeng Bank, Li Ka-shing naturally possesses information far beyond that of ordinary citizens.

That's why he knows better than anyone that Huifeng Bank is now like a giant ship teetering on the brink of capsizing in a storm, fraught with danger.

On one side are allies with whom we have cooperated for many years and have no choice but to support;
On the other hand, there is a ticking time bomb that could collapse at any moment, dragging him into the abyss as well.

This put Li Jiacheng in a dilemma, unable to move forward or backward.

He was well aware that if he continued to be deeply tied to Huifeng Bank, and Huifeng Bank's capital chain broke, then the business layout and hard work accumulated by Cheung Kong Holdings and Hutchison Whampoa over the years could very well vanish instantly, and all their efforts would be in vain.

But if they unilaterally breach the contract and attempt to transfer funds, how could Huifeng Bank easily agree?

Moreover, given Huifeng Bank's current tight cash flow, even if he wanted to transfer funds, he might not be able to easily allocate a sufficient amount.

After all, every large transaction can be like a boulder thrown into a calm lake, triggering a series of unpredictable chain reactions.

"Sigh!" In the office, only Li Jiacheng's long sigh, full of helplessness and worry, echoed in the air for a long time.

If Huifeng Bank were to collapse, the impact on him would undoubtedly be enormous.

The headquarters building of Swire Group, the executive office.

Schjok looked at the newspaper in his hand, his brows also furrowed.

Although Swire Pacific didn't put all its funds in Huifeng Bank, Huifeng Bank accounted for the largest portion of its funds.

Moreover, Swire and Huifeng Bank had deep collaborations on several large-scale projects, ranging from shipping finance to real estate development, with complex financial transactions. Schjork knew that if Huifeng Bank collapsed, Swire's investments in these projects could be completely wiped out, and it could even affect Swire's overall cash flow and business layout.

"How did Huifeng Bank suddenly become like this?" Schjok muttered to himself, slamming the newspaper heavily onto his desk.

Huifeng Bank now only has about 31.5% of the market share left, whereas at its peak it was as high as 60%!

This means that Huifeng Bank has lost a full half of its market share in the past two months.

Schjork, who was well-versed in the rules of the financial industry and market fluctuations, was very clear that such a huge loss of market share had definitely put Huifeng Bank in a serious financial predicament.

Although the Governor expressed his full support, how much of a substantial effect can the Financial Secretary's HK$10 billion really have on HSBC Bank?

He stood up and paced back and forth in his office, pondering a solution.

He picked up the phone and dialed the CFO's number.

“It’s me, Schjoker. You need to immediately conduct a comprehensive review of the financial transactions and cooperative projects between Swire Group and Huifeng Bank, and assess the current risks.”

"At the same time, we need to study how to minimize our losses should Huifeng Bank really run into problems," Schjok instructed seriously.

"Okay, Mr. Big Boss, I'll arrange for someone to do it right away," the financial director replied on the other end of the phone.

After hanging up the phone, Schjok fell into deep thought again.

Then, he picked up the suit jacket from the clothes rack, put it on, and prepared to go to Huifeng Bank to have a chat with Shen Bi!
John Madden of Wheelock & Co., Roland Kadoorie of CLP Power, and others also felt a great sense of crisis because of this newspaper.

As partners of Huifeng Bank, they all have intricate connections and interests with Huifeng Bank.

Even the shares are subject to some degree of cross-holding.

The once seemingly indestructible financial edifice of Huifeng Bank is now teetering on the brink of collapse, sending a chill through them like never before.

They know that if the funds are transferred out, there will be no such worry, but is it so easy to transfer them?
The heads of each of these giants are well aware that Huifeng Bank is currently struggling to survive, and its supervision of capital flows will inevitably become increasingly strict. Small amounts of capital can flow freely, but any large withdrawal of funds may be seen as "betrayal," thus triggering a series of chain reactions.

This is also why they had to speak out in unison to support Huifeng Bank.

We have to speak out; if Huifeng Bank collapses, it won't benefit anyone.

Unexpectedly, the Oriental Daily News has now torn off this fig leaf, exposing the dire state of Huifeng Bank to the public.

Huafeng Bank is no longer the largest bank in Hong Kong, and the gap between it and Bank of East Asia is widening!
This is bad enough; market confidence will inevitably suffer a severe blow, and Huifeng Bank's situation will only become more difficult. Their partners are also caught in the eye of a storm, and could be swallowed up at any moment.

This newspaper not only caused concern among many business tycoons, but also stirred up a huge uproar among ordinary citizens.

On the streets and in tea restaurants, people sit together, and without exception, the conversation revolves around the Bank of East Asia and Hui Fung Bank.

“Take a look at this copy of the Oriental Daily News. Bank of East Asia has become the largest bank in Hong Kong. Bank of East Asia used to be so powerful, but now it’s not what it used to be,” an old man in a vest, fanning himself with a palm leaf fan, said to his friend beside him.

The old friend nodded and agreed, "Yes, everyone used to think it was safe to deposit money in Huifeng Bank, but now it's hard to say. I heard that Huifeng Bank has had problems with many of its businesses recently, and its funds are very tight."

A young man nearby also came over and said excitedly, "I've always felt that Bank of East Asia has potential. Look how fast they've developed. Their capital scale has exceeded HK$100 billion. It will definitely get better and better in the future. I plan to transfer all my savings to Bank of East Asia."

The old man quickly waved his hand and advised, "Young man, don't be impulsive. Banks can change their minds anytime soon. You should wait and see."

The young man disagreed: "Sir, you're too conservative. The situation is so clear now. East Asia Bank is definitely more reliable than Huifeng Bank. Besides, East Asia Bank has Lin Haoran as its backer. What does Huifeng Bank have behind it? Can the governor support it for a while, or even forever?"

Such discussions continue to unfold in every corner of Hong Kong.

Ordinary citizens are beginning to re-examine their savings and investment choices, with many inclined to transfer funds from Huafeng Bank to Bank of East Asia or other financial institutions that appear more stable.

At Huifeng Bank's various branches, the number of customers coming to conduct business has decreased significantly, while the number of customers inquiring about withdrawal or transfer services has gradually increased.

The bank staff were extremely busy, trying to both calm customers and meet the task assigned by their superiors to stabilize the funds.

"Sir, please don't rush to withdraw your money. Our Huifeng Bank has a solid foundation and strong capabilities, and we will definitely overcome this difficulty," a bank teller patiently explained to a customer who requested a withdrawal.

The customer, however, looked impatient: "Don't tell me that. It's all in the newspapers. Your bank has become the second largest. My friends say you're at risk of a broken cash flow. I'm worried that it's not safe to keep my money here. I'd rather withdraw it."

The teller had no choice but to process the withdrawal for the customer in accordance with regulations.

Watching the customer hurriedly leave with the money, the teller was filled with worry.

If things continue like this, Huifeng Bank will inevitably face a run on its banks sooner or later.

However, the scene is quite different at the branches of Bank of East Asia.

Customers came in droves to open accounts and inquire about services, keeping the staff extremely busy.

"Hello, welcome to Bank of East Asia. What kind of service do you need?" A smiling staff member warmly greets each customer.

"I want to open an account and transfer all the money I have in Huifeng Bank," a customer said.

The staff quickly guided the customer to the service window, processing the paperwork while introducing the various advantages and services of East Asia Bank.

"Sir, you've made the right choice by choosing East Asia Bank. Our bank has strong financial resources, provides excellent service, and offers many innovative financial products that will surely meet your needs," the staff member said.

The customer nodded in satisfaction: "I chose your bank because of its strength and development prospects. I'll keep all my money here from now on."

As ordinary citizens took action, subtle changes began to appear in Hong Kong's financial market.

Funds gradually flowed out of Huifeng Bank and into Bank of East Asia and other financial institutions.

Huafeng Bank's cash flow became increasingly strained, while Bank of East Asia, with this inflow of funds, further consolidated its position in Hong Kong's financial market.

Inside the chairman's office at the headquarters of Bank of East Asia.

He Shanheng stood in front of the floor-to-ceiling window, his gaze passing over the glass and landing on the Huifeng Bank branch across the street from the building.

The service hall was bustling with people, a stark contrast to its usual calm and orderly atmosphere.

A slight, meaningful smile appeared on his lips.

He knew perfectly well that these customers flocking to the store were not there to make ordinary deposits; nine times out of ten, they were there to withdraw cash.

Given the current situation, a large portion of these withdrawn funds will eventually end up in the hands of the Bank of East Asia.

"Knock, knock, knock." Just then, there was a knock on the door.

"Please come in," He Shanheng said to the door after regaining his senses.

The person who opened the door was He Shanheng's assistant.

"Mr. He, there are a lot of reporters outside who want to interview you. Would you like to be interviewed?" the assistant asked respectfully.

“Reporters? Then let’s meet them. Tell the security to maintain order and prevent them from causing chaos in the bank,” He Shanheng said after a moment’s thought.

It's obvious why these reporters came to interview him: it was because of the articles published in the Oriental Daily.

After all, this is just the media's voice. The fact that Bank of East Asia has topped the Hong Kong financial industry has not yet been confirmed by the companies involved, Bank of East Asia or HSBC. These media reporters are here simply to get definite information from him, the chairman of Bank of East Asia, and to dig up some exclusive content so that they can gain an advantage in the news war and increase the influence of their own media.

Instead of holding a press conference, Huanyu Research Company directly submitted its financial report to the Oriental Daily for publication. This left the reporters with many questions they wanted to ask, but they could only hold back, hoping to find a breakthrough from him.

He Shanheng had already planned this out. This was an opportunity to showcase the image of Bank of East Asia and further stabilize market confidence, so there was no reason for him to refuse.

Soon, under the orderly guidance of security personnel, the reporters arrived at a spacious lobby.

He Shanheng walked into the lobby with steady steps and a gentle smile on his face, instantly quieting the previously noisy lobby.

Reporters focused their attention on him, and the sound of camera shutters clicking incessantly.

"Mr. Ho, hello! I am a reporter from Ming Pao. Is it true that the Oriental Daily News reported that Bank of East Asia has been officially crowned the largest bank in Hong Kong? Can you give us a definite answer?" A female reporter asked first, her eyes full of expectation.

He Shanheng nodded slightly, his gaze sweeping steadily across the room, his voice loud and clear: "Thank you all very much for your attention to Bank of East Asia. I can state here clearly that the data presented in the financial industry report released by Global Research is highly consistent with our actual data at Bank of East Asia."

Although I'm not entirely familiar with the specific data from Huafeng Bank, I imagine it's fairly accurate. Therefore, considering key indicators such as market share and capital size, Bank of East Asia has indeed now become the largest bank in Hong Kong.

Upon hearing this, a murmur of surprise and discussion arose from the crowd.

The reporters whispered excitedly to each other, their pens scribbling rapidly in their notebooks.

This signifies that Bank of East Asia has officially confirmed its dominant position in Hong Kong's financial sector, a bombshell that will undoubtedly cause a strong shock in Hong Kong's financial, commercial, and even social spheres.

(End of this chapter)