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In order to cope with the economic recession, the SAR government has adopted an expansionary fiscal policy and increased the budget deficit, and the treasury stock has dried up in the summer of each year, and the government has to go to the money market to exchange US dollars for Hong Kong dollars.

Just like a martial arts master, one party underestimates the internal strength of the other party, causing its own internal strength to be continuously sucked away and resolved by the other party.

The first round ended at 4:30 p.m. on Monday, 6th, with the Hong Kong Monetary Authority's small victory, and the exchange rate stabilized at the level of about 7.75 Hong Kong dollars per US dollar.

Whether it is for political or economic gain, Hong Kong's financial market will face an unprecedented storm, even more drastic than all the countries of Southeast Asia have suffered, which is what Chan said is different from history, and foreign speculators have not only not stopped, they have even doubled their size, and at the same time, they have started in the money market and the securities market.

Perhaps they are well aware of the strength that the Hong Kong Special Administrative Region says it has, and even the financial strength of the big 6 is also in their hands, so it seems that the opponent is more confident.

Beginning on 7 April, a grand "gamble of the century" began, with tens of billions of dollars invested by both the enemy and the enemy every day.

On 7 April, international speculators sold more than HK$65 billion, and the SAR government gritted its teeth and ate it all, and the exchange rate of the Hong Kong dollar was basically stable, but the foreign exchange reserves in the hands of the SAR government fell by $900 million.

This frightened the Financial Secretary, who returned from abroad, and it is said that he did not sleep all night and secretly wept three times.

His pressure is too great, if he loses, he loses all the money of Hong Kong people, even if he jumps off the building, he can't make up for it, and for more than half a month, he doesn't want to sleep well, to put it mildly, even if he falls asleep, he will be awakened by nightmares, all the nerves are straightened, and the shadow of fear always lingers all over his body.

More than 60 billion Hong Kong dollars are only in the currency market, and in the securities market, in order to cope with the decline in the stock market, the Hong Kong government has also invested 2.3 billion Hong Kong dollars into it, and has taken a short position.

If this is the case, it will take less than 10 days, maybe eight days at most, and all the money in the hands of the Hong Kong government will be exhausted.

The afterglow shone in through the floor-to-ceiling windows and landed on Chan's steady, youthful face, who was holding a copy of a report drafted by officials from the Hong Kong Monetary Authority and the Financial Services Bureau, which he received only 23 minutes after Ct.

The report clearly reflects the fear of financial officials in Hong Kong, and how fierce the war is.

In the report, according to the analysis of officials of the Hong Kong Monetary Bureau, "the general trend has gone", if the central government does not take action, the Hang Seng Index will soon plummet to 4ooo points, bank loan interest is at an all-time high, Hong Kong is likely to "cut off" within 5 days,,,,,, Hong Kong's death has been clearly predicted.

They may not be able to help the central government, but they may not be psychologically bottomless, otherwise, their tone will not be so pessimistic, and they will have a completely restrained mentality.

Half an hour later, Chen Kangjie threw the report aside, and after not smoking for a long time, he asked for a cigarette from his subordinates, stood upright in front of the window, and silently exhaled the smoke alone.

It can be seen that Chen Kangjie is also under pressure, of course, his pressure will not come from how much he makes and how much he loses, the key is that the burden on his shoulders is too big this time, the fate of more than 5 million Hong Kong people is in his hands, the long-term prospects of the republic are on him, and the success or failure of hundreds of billions of dollars is in his heart, not only is the burden of money too heavy, but the enemy he is facing is not a plate of loose speculation, but a conspirator with the support of the Federal Reserve behind his back, which is a fierce enemy he has never encountered.

Half an hour later, Chen Kangjie returned to his desk and picked up the phone to call Huang Zhenhua.

The phone rang and it was picked up.

"Xiaojie, I'm about to call you too", Huang Zhenhua was the first to speak.

"I know why, I have read the report you forwarded to me, as they said, if the central government does not intervene, they are indeed very likely to disarm in a few days, and the strength of the opponent is stronger than I expected, but this also confirms my previous suspicion, this is definitely not an unorganized financial attack", Chen Kangjie said calmly, without revealing the slightest pressure.

"So what are we going to do?" , Huang Zhenhua asked habitually.

"Didn't you communicate with the new prime minister, the financial work of the central government was under his control, and he can be regarded as a promising expert in the industry, what is his opinion?" , Chen Kangjie did not answer, but asked.

During the two sessions in 1998, the government leaders were re-elected, and the previous prime minister went to the National People's Congress, and the capable and courageous executive vice premier became the prime minister, overseeing the first responsibility of the administration.

As executive vice premier, he also served as the governor of the central bank, so he is very familiar with financial work, and now he is faced with such a critical issue, which may be the most important task in recent times, Chen Kangjie guesses, the rumored grumpy old man will not be without his own ideas.

"As you said, I just reported to the prime minister and just came back from his office, and his opinion is that your opinion is the main thing," Huang Zhenhua replied.

"What, he's just that simple word." Chen Kangjie didn't expect that the new premier's opinion would be so concise, and he was not surprised, how could he not have any ideas about such a big decision.

"I can't say that completely, how to say it,,,,,, I entrusted you with full responsibility, this is a collective decision, and it is also the opinion of the Chinese comrades, so ,,,,,, not to mention that the prime minister still believes in your ability in this regard, but when he was talking to me, he mentioned that we should speak strongly, first, is to resolutely ensure that the RMB will not depreciate, no matter how much the price suffers, we must ensure that the exchange rate of the RMB is stable, this is not only for Hong Kong, It is also to alleviate the economic pressure faced by the surrounding areas, and secondly, it is to state that the central government will fully support Hong Kong and do everything to ensure the prosperity and stability of Hong Kong, which is a great national cause and a major historical event", Huang Zhenhua expressed the true meaning of the prime minister from the side in embarrassment.

Chen Kangjie understands why the prime minister has only a simple conclusion of "based on Chen Kangjie's opinion".

Although he is in charge of the government now, because of the special organizational structure of our country's political power, two of the three people who decided to entrust Chen Kangjie with important tasks are ranked in front of him, in other words, they are all under the leadership of the prime minister, therefore, as a subordinate, it is natural that he cannot arbitrarily disobey the leader's decision, not to mention, so far, Chen Kangjie's decision has not made any serious mistakes.

At the same time, he also knew that Huang Zhenhua and Chen Kangjie had a close relationship, so after he told Huang Zhenhua his thoughts, Huang Zhenhua would definitely relay them to Chen Kangjie.

"Since this is the case, then I can rest assured that my opinion is completely consistent with the Prime Minister's thoughts, and even some of the words have to be made by the Prime Minister himself, which not only shows the attitude of the central government, but also reassures the hearts of some Hong Kong citizens and strengthens their confidence, but I add that part of the country's foreign exchange reserves really have to be lent to Hong Kong for use, preferably within three days," Chan said.

"Domestic foreign exchange, the most that can be used is only 100 billion, this is the limit, in addition to the need to set aside a part of the repayment of foreign debt, there are also some in the US bond market, can not be withdrawn in a short time, besides, according to the current strength and degree, I am afraid that 100 billion US dollars will not be able to support for long," Huang Zhenhua said nervously.

"It's okay, I can support it for as long as I can, and I'll take the rest," Chen Kangjie gritted his teeth and said firmly.

"Xiaojie, you have to be cautious in everything, we can't afford to lose this big gamble, and we can't afford to lose", Huang Zhenhua involuntarily admonished.

Speaking from facts, Huang Zhenhua's pressure is no less than that of the senior officials of the SAR government, and even worse, he has not had a good night's sleep for two months, and every day the news from Hong Kong is like a fire burning under his feet, making him anxious and restless; just like he said, Chen Kangjie cannot afford to lose, the SAR government cannot afford to lose, and he, Huang Zhenhua, cannot afford to lose.

"Uncle Huang, I understand, don't worry, I will be cautious."

The day after the phone call between Huang Zhenhua and Chen Kangjie, when the prime minister attended a financial meeting, he solemnly stated that the renminbi will resolutely not depreciate, which is responsible for other friendly countries, but also responsible for itself, and the government will take various effective measures to deal with it, and at the same time he also stated that the central government will do everything possible to help Hong Kong stabilize the market, he said that he believes that the fundamentals of Hong Kong's economy are good, and Hong Kong cannot and will not repeat the mistakes of other countries in Southeast Asia, because this is a battle united by 1.2 billion people.

On the same day, he spoke to reporters, and he said tragically, "Maintaining the linked exchange rate is the most unswerving policy of the SAR government, if anyone thinks that we will waver, they are wrong, we absolutely have the ability and determination to maintain the linked exchange rate, we will certainly do it, maintaining the linked exchange rate will ensure Hong Kong's long-term economic vitality and interests, and the short-term pain is acceptable." ”