Sharpening the Blade Against the Red Wall: From Hong Kong to Handong

Zhou Jianguo listened quietly, his fingers tapping unconsciously on the stone table, Zhou Jin's words echoing in his mind. He had experienced the economic difficulties of the early days of the People's Republic of China and witnessed the arduous exploration of economic construction since the reform and opening up, deeply understanding the importance of financial security to national development. Zhou Jin's analysis was reasonable and well-founded, pointing out both the huge potential risks and providing practical solutions. In particular, the concept of "strategic bottom-fishing" transcended a purely defensive mindset, demonstrating a proactive strategic vision, which deeply pleased him.

"You're right. This matter is of utmost importance, concerning the prosperity and stability of Hong Kong and the core interests of the nation. We cannot afford to be careless," Zhou Jianguo said firmly as he stood up. "This report cannot be delayed; it must be delivered to the highest level immediately. Tomorrow morning, I will go to Nanhai and report directly to the Standing Committee of the Residents' Committee."

Upon hearing his grandfather's decision, Zhou Jin was deeply moved, his eyes welling up with tears. He knew his grandfather was under considerable pressure, as the report was written by a young man, and the "memories of his past life" contained within were secrets that could not be revealed. If questioned, not only would the report fail to pass, but his grandfather's reputation could also be affected. But Zhou Jianguo disregarded all of that at that moment. He had only one thought in his mind: for the sake of the country, no matter the risk, he had to pass this warning and plan to the highest decision-making level.

The next morning, just as dawn was breaking, Zhou Jianguo, dressed in a neat Zhongshan suit and carrying the weighty report, boarded the car bound for the South China Sea. The car slowly entered Xinhua Gate, passed through a huge screen wall inscribed with "Serve the People," and came into view the vast South China Sea. Ancient locust trees reached for the sky along the shore, and weeping willows brushed the banks—a picturesque scene imbued with an inviolable solemnity. The car stopped at the entrance of Fengzeyuan Park. Zhou Jianguo straightened his collar and strode inside with steady steps.

The meeting of the Standing Committee of the Central Residents' Committee was held in Yinian Hall. This palace-style building, originally built during the Kangxi era, was simple and solemn, with minimal furnishings inside and inscriptions by leaders hanging on the walls, creating a serious atmosphere. When Zhou Jianguo entered the meeting room with his report, several Standing Committee members were already seated, their eyes all fixed on him.

"Comrade Jianguo, you've come so early this morning. What important situation do you have to report?" the chief asked, his tone calm yet authoritative.

Zhou Jianguo walked to the center of the meeting room, raised the report in his hand, and solemnly said, "Chief, members of the Standing Committee, I have brought a report today on the early warning of financial risks in Hong Kong, written by my grandson Zhou Jin. This report analyzes in detail the current situation of Hong Kong's financial market, predicts the possible impact of international capital on Hong Kong during the 1997 Asian financial crisis, and proposes corresponding countermeasures. Among them, the idea of ​​establishing a secret company to conduct strategic bottom-fishing is very innovative and feasible. It concerns the stability of Hong Kong after its return to China and the national interest, so I think it is very important. I have come to report to you all."

Upon hearing this, the Standing Committee members all showed expressions of concern. With Hong Kong's return to China imminent, its economic stability is the top priority of the nation's work, and any potential financial risks are a matter of great concern to the highest levels of leadership. The top leader gestured for Zhou Jianguo to sit down, allowing him to explain the core content of the report in detail.

Zhou Jianguo, combining key data and analysis from the report, presented his findings methodically. He discussed the scale of international hot money inflows, the loopholes in Hong Kong's linked exchange rate system, the logic of international capital short selling, the timing of the crisis, the specific content of the response plan, and the significant importance of strategic bottom-fishing. His presentation was clear and focused. He emphasized, "Distinguished members of the Standing Committee, Zhou Jin's analysis is not unfounded, but based on a wealth of detailed data and a profound understanding of the laws governing international financial markets. Soros's successful attack on the British pound in 1992 and the Mexican financial crisis in 1994 serve as cautionary tales. As an international financial center and territory we have just reclaimed, Hong Kong will inevitably be a target for international capital. We must prepare in advance and fight a prepared battle."

When reporting on the idea of ​​the "secret company," Zhou Jianguo added: "This company is hidden by its state-owned background and avoids regulatory scrutiny through offshore registration and multi-layered trust structures. The initial capital is 50 billion yuan allocated from foreign exchange reserves and is jointly supervised by the Ministry of Finance, the People's Bank of China, and the Ministry of State Security. It can stabilize the market during crises and also buy up high-quality assets at bargain prices, accumulating strategic resources for the country. This is a strategy that combines defense and offense, and it deserves our attention."

The Standing Committee members listened attentively to Zhou Jianguo's report, occasionally interrupting him to ask questions. The questions focused on key aspects such as the specific operational methods of international capital, the regulatory risks of secret companies, and the feasibility of allocating foreign exchange reserves. Drawing on his deep understanding of the report and his years of political and economic experience, Zhou Jianguo provided calm and forceful responses to each question.

The meeting lasted the entire morning, with lively and in-depth discussions taking place in the Yinian Hall. The Standing Committee members unanimously agreed that the report was extremely valuable, Zhou Jin's risk assessment was incisive, and the response plan was highly practical, fully demonstrating the international perspective and strategic thinking of the young people. At the end of the meeting, the Supreme Leader gave instructions: "Comrade Jianguo, thank you for bringing this important report. The return of Hong Kong is a major national event, and financial security is of paramount importance. We must attach great importance to the risk warnings raised by Comrade Zhou Jin."

He stood up and said firmly, "First, I instruct Comrade Zhou Jin to further refine the plan within a week, focusing on supplementing details such as the regulatory mechanism for the secret company and the control measures for cross-border capital flows; second, I will convene a symposium of central economic experts next week, and have Comrade Zhou Jin participate to report the plan to the experts and scholars and listen to their opinions and suggestions; third, I will immediately instruct the Ministry of Finance, the People's Bank of China, and the Ministry of State Security to establish a joint working group to conduct a comprehensive study on the feasibility, funding sources, and operating model of the 'secret company,' and be sure to produce a scientific and rigorous research report."

The top leader emphasized: "This matter concerns national sovereignty, Hong Kong's stability, and economic security. All relevant departments must attach great importance to it, cooperate closely, and accelerate the progress of all tasks. We must not only safeguard Hong Kong's financial defenses, but also seize the opportunity to acquire strategic assets for the country, letting international capital know that China's financial market is not an 'ATM' they can exploit at will."

After the meeting, Zhou Jianguo walked out of Yinian Hall. The early summer sun shone on him, warming him. He looked up at the ancient cypress trees and the rippling lake in the South China Sea, and the weight that had been hanging over him finally lifted. He knew that this report had attracted the highest level of attention, and a plan concerning Hong Kong's financial security and national strategic interests was about to officially begin.

That afternoon, Zhou Jianguo informed Zhou Jin of the meeting's results. Upon hearing the news, Zhou Jin was deeply moved and remained so for a long time. He knew this was not only recognition of his personal efforts but also a testament to the nation's firm resolve to prevent financial risks and maintain stability in Hong Kong. He immediately threw himself into refining the plan, and the light in his study shone brightly through the night once again. Meanwhile, a joint working group from the Ministry of Finance, the People's Bank of China, and the Ministry of State Security was quickly established, and a thorough and intensive review process began, quietly strengthening the nation's financial security defenses.