Reborn Capital Madman

If you have a general understanding of Gui Lao's tactics to clean up the Hong Kong securities industry, you will understand how passive organizations like the Heung Kong Securities Industry Review Committee, which lays the foundation for legislation, were once Gao Xian's report on the Hong Kong securities industry came out.

The four securities exchanges in Hong Kong merged to form the Hong Kong United Exchange. In this only legal trading platform in Hong Kong, all important positions from top to bottom are run by Chinese, and Gui Lao is further marginalized.

During the Black Monday stock market crash, the Chinese management of the Hong Kong Stock Exchange, headed by Li Fuzhao, misjudged the situation and suspended the market for four days, which led to verbal criticism and resentment caused by accumulated abuses. Even the underlying fundamentals of the base camp of Hong Kong could not be preserved. The Hong Kong government

The Financial Secretary, the Department of Finance, and the Securities Industry Supervision Bureau, who supported the four-day suspension of the market, did not have official endorsement, and it suddenly became a situation where everyone was pushing against the wall.

Under such circumstances, the Heung Kong Securities Industry Review Committee controlled by ghosts came into being as a matter of course; through the Independent Commission Against Corruption, all the senior management members of the Heung Kong Stock Exchange were removed; the committee of the Hong Kong Stock Exchange Committee

Key members were forcibly suspended; a management committee was established to replace the Hong Kong Stock Exchange Committee; ghost man Huo Liyi was parachuted in as chief executive, taking over daily affairs and initially completing the seizure of power over the Hong Kong Stock Exchange.

The next step is for Huo Liyi to digest the power of the Hong Kong Stock Exchange; at the same time, the Hong Kong Securities Industry Review Committee spent some time writing a problem investigation and rectification report; the Hong Kong government fully accepted it and provided legislative protection for the thorough cleansing of the Hong Kong securities industry.

But at this point, the media inadvertently revealed the views of Sir Gao Sir, President of the Hong Kong Monetary Authority, on the Hong Kong securities industry.

How powerful is this high-string report?

After Davis finished browsing calmly, he realized that, even if he was unwilling to do so, his Davis report would only be viewed as unreasonable, and who would be in charge of Xiangjiang Securities would be affected by Gao Xian's report.

Industrial reform will bring big trouble.

Huo Liyi must have also finished reading Gao Xian's report, and he anxiously found Davis overnight to urgently discuss countermeasures. We brothers are the vanguard at the forefront, and we must reach a consensus as soon as possible.

"This so-called experience note is actually Gao Xian's report. Do you think it was really exposed unintentionally?" Davis said suspiciously, holding on to luck.

"This issue is no longer important." Huo Liyi shook his head, "I have been an assistant securities industry supervisory commissioner in Xiangjiang for several years, and I know a lot about the local affairs in Xiangjiang."

"Early before the Hong Kong dollar broke out in 1982, as a member of the Executive Council and a leader in the financial industry, Gao Xian published an influential Gao Xian report on the dangers of the continued weakness of the Hong Kong dollar exchange rate, which provided the foundation for Hong Kong Foreign Exchange

The establishment of the Fund Management Bureau laid the legislative foundation."

"As for the banking industry, Gao Xian also published a report focusing on the minimum asset liquidity ratio in the banking industry, which promoted the revision of banking regulations and formed a series of important policies to prevent banking crises, paving the way for the establishment of the Xiangjiang Monetary Authority.

It also laid the foundation.”

"At this time, the Gao Xian report on the securities industry has popped up again, and it must be to compete with us for control of the Xiangjiang Securities Industry and the Stock Exchange." Huo Liyi said in a very determined tone.

"Then there is no room for maneuver..." Davis was very worried. "The success of the Hong Kong Monetary Authority in rescuing the market is still quite recognized. The suspension of the listing of Tracker Fund can also arouse some people's anxiety. If the Hong Kong Monetary Authority insists on this,

This is a breakthrough, and if you get involved, you may occupy some names to some extent, but the key point is that this Gao Xian report is really annoying!"

"This is Gao Xian's consistent behavior." Huo Liyi's eyes flashed, "Do you think the Hong Kong Monetary Authority wants a new Securities Regulatory Commission or the Stock Exchange?"

"In terms of your familiarity with the local situation in Xiangjiang, you are much better than me, and you still want to ask me?" Davis was a little unsure of Huo Liyi's thoughts.

"I blame me for not saying it accurately." Huo Liyi quickly corrected, "Among the new China Securities Regulatory Commission and the Stock Exchange, which one will Gao Xian choose as the primary goal?"

Davis replied thoughtfully, "From the perspective of the Hong Kong Monetary Authority, naturally the new China Securities Regulatory Commission is the foundation, and it should be taken down first."

"I thought of coming together." Huo Liyi nodded, "We have divided the work like this. It's still working hours in London, so you should communicate with them quickly; I will contact the local supporting forces, including government officials.

"

…

The next day, various media outlets in Hong Kong, working overnight, published Gao Xian's report and put it on the front page. He suddenly seized the power of the Hong Kong Stock Exchange and the godfather of the Hong Kong stock market, Li Fook, who was out of the game, faced jail.

The hot spot of disaster.

Any elite who is familiar with the evolution of Hong Kong's financial order since the 1980s will suddenly smell a familiar smell from another Gao Xian report.

In particular, various media interpretations have noticed Sir Gao's attitude, that is, although Xiangjiang International Financial Center has unique advantages, it is ultimately limited in size. The higher the degree of internationalization, the more obvious this inherent shortcoming will be.

For example, in the securities industry, Nomura Securities alone has a capital of 20 billion U.S. dollars; the international giants of Wall Street in the United States are even more powerful.

And like in the Black Monday stock market crash, the default risk of about HK$200 billion in the Hang Seng Index futures market has caused much pressure?

Therefore, only by building a multi-dimensional and three-dimensional regulatory system can Xiangjiang Finance develop dynamically and effectively manage risks.

What is multidimensional?

It is already obvious that the Hong Kong Monetary Authority wants to take over the regulatory power of the securities industry.

Since Sir Gao released this report to the media, he must have expected that it would be interpreted to mean this. In other words, the Hong Kong Monetary Authority has already spoken!

Now there is quite a lot of gossip.

Because the Heung Kong Securities Industry Review Committee does not have the participation of the Heung Kong Monetary Authority, it stands to reason that the Heung Kong Monetary Authority has been very effective in rescuing the market. With this credit, it is fully qualified to join the Heung Kong Securities Industry Review Committee, at least as a consultant. Could it be that there is something wrong with this?

What’s the trick?

In the morning, Davis, chairman of the Hong Kong Securities Industry Review Committee, was blocked by media reporters and asked what he thought of the Hong Kong Monetary Authority's intention to include the securities industry supervision.

Davis replied with a serious face, "First of all, the President of the Hong Kong Monetary Authority Sir Alex Ko has not publicly stated this attitude, so you are all guessing; secondly, if the Hong Kong Monetary Authority really has this intention, it would be treating itself as an all-rounder."

In the afternoon, a spokesman for the Hong Kong Monetary Authority responded to Davis's remarks, "The Hong Kong Monetary Authority has always been cautious in its work and actively learned from the successful experiences of its international counterparts, such as the Monetary Authority of Singapore in Southeast Asia."

Of course, the media can correctly interpret this kind of diplomatic answer. The Monetary Authority of Singapore integrates banking supervision, insurance supervision, and securities supervision. It is an all-rounder. What's the fuss? Are you pretending to be confused?