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When Solo made a move on the Hong Kong dollar, the Hong Kong financial authority immediately forcibly intervened in the market and bought a large amount of Hong Kong dollars in order to maintain the exchange rate of the Hong Kong dollar against the US dollar above the psychological threshold of 7.75 Hong Kong dollars.

In the first week, it did have the desired effect. Soon, however, the exchange rate of the Hong Kong authorities against the US dollar fell below the HK$5 mark. The Hong Kong Monetary Authority (HKMA) once again used its foreign exchange reserves to fully dry up the market, bringing the exchange rate of the Hong Kong dollar back above HK$7.75, demonstrating its strong financial strength.

Soro's first tentative offensive failed in a strong defense by the Hong Kong Monetary Authority.

Under these circumstances, the person in charge of the Hong Kong Monetary Authority urgently made an appointment with Wu Xian and asked for his help.

However, at this time, the situation was still under control, so although the director of the Financial Authority took precautions, his mentality was still relatively relaxed, and he invited Fan Wuxian to drink tea and chat in a tea house with a very good background.

Interestingly, the owner of this teahouse is from old Beijing, although he can also speak Cantonese at this time, he is talking to Fan Wuxi, but he is still a Beijing accent and Beijing rhyme. (Mobile AP browsing search/search/999)

The boss and the director seem to be very familiar with each other, and they probably receive guests from inside and often guide them here. The boss personally asked the guys to serve them tea, and then said, "If you want to drink good tea, you must have water, and when you talk about this water, you have to talk about the Qianlong Lord of the Qing Dynasty." Legend has it that Qianlong Ye made a washing method, he made a bucket, to identify the world's good water, the light weight of the water is, the result is that the water of Yuquan Mountain in Beijing is the lightest, rated as the first, the Yangtze River Jiangxin water second, Huiquan third, Hupao Spring fourth. So Qianlong Ye designated the water of Yuquan Mountain as the water in the palace. However, the water quality of Yuquan Mountain will change as the water is left in an urn for a long time. What to do? Qianlong Ye ordered people to pour other spring water or lake water into the urn and stir vigorously, after stirring, the water of Yuquan Mountain will float to the top, and the other water will be heavy, and it will naturally sink below, which is the washing water. ”

"Oh, there's such a thing?" Fan Wuxian had never heard of such a thing, so he couldn't help but ask with some surprise, "Then what kind of water do you use here?" ”

Seeing that Fan Wuxian was interested in his words, the boss was happy to boast, "The small shop also uses the washing method, I made four sand tanks, the first sand tank is four layers above and below, half a tank of pebbles is put into the tank, and the pebbles are paved with white and white sand in the area of Taizitan, and a layer of bark is spread on the white eye sand surface, and the river water falls down from the mouth of the tank, there is a small hole under the tank, and a bamboo pipe is inserted, and the water flows from the embroidery pipe into the second water tank under the stone steps. (All overspeed updates: search/search/9/9/9/COM) at the bottom of the second water tank put a fist-sized seven edges and eight holes, surrounded by holes and holes pockmarked pebbles, and then put about 30 walnut-sized small pockmarked stones, and then paved with white-eyed sand and palm bark on the granite, flowing into the third sand tank. At the bottom of the third sand jar is a small pockmark pebble about a foot thick, and a layer of charcoal made of sintering from the green bar tree is placed on the stone, and a layer of charcoal essence with the effect of clearing fire is placed on the charcoal. Then, the charcoal is topped with river sand and tree bark to make the water flow into the fourth tank. In this way, the already very Jiangxin water, and then filtered through the four sand tanks, it is very pure, and it is naturally very good to make tea. ()”

Fan Wuxi raised his glass and took a sip, and sure enough, he felt that it was different from what he usually drank, and couldn't help but praise, "It's really different, I've drunk it many times in Beijing, but I've never seen someone who works so hard as you, boss."

”

"Compliments, compliments. The guests drank comfortably, and recommended a few more friends to cheer, and the contemptible people were grateful. The boss laughed, and did not forget to pull business for himself.

After the boss left, the director said to Fan Wuxian, "The financial predator Solo wants to let Hong Kong follow in the footsteps of Thailand, and it is menacing, the people of Hong Kong Island are panicked, the stock market is unstable, and the chief executive is worried, although this attack was thwarted by us, it is based on past experience, Solo is by no means the kind of person who is willing to give up easily, he is making a lot of forward purchases of the Hong Kong dollar, and is ready to pay attention to the glory of England and the battle in Southeast Asia." I hope that Mr. Fan can draw a knife to help save the crisis. ”

After Fan Wuxian said politely, he analyzed him, "Solo's decision this time is not wise, because he did not take into account the Chinese mainland behind Hong Kong, Hong Kong and Chinese mainland's foreign exchange reserves of more than 200 billion US dollars, plus Taiwan and Macao, foreign exchange reserves of no less than 374 billion US dollars, this powerful strength is not comparable to England, Thailand and other countries." (Mobile AP browsing search / search / 999) this attack on the Hong Kong dollar, the odds of victory are not very sure. ”

"Although the top level is more confident that when Solo sniped the Thai baht, he also concentrated hundreds of billions of dollars, Taiwan and Macao's funds, and we could not use them within a period of time, and although there are more than $200 billion in foreign exchange reserves in China and Hong Kong, it is impossible for them to be invested in this financial war." The director explained to Fan Wuxian.

"I also understand this, otherwise I would not be able to continue to stay on Hong Kong Island."

He nodded.

As far as Hong Kong is concerned, the maintenance of the fixed exchange rate system is a guarantee of people's confidence, and once the fixed exchange rate system is lost under the impact of international travel funds at the same rate as Solo, people will lose confidence in Hong Kong, and then ruin Hong Kong's prosperity. ()

At this important moment when Hong Kong has just returned to the motherland, protecting the exchange rate stability of the Hong Kong dollar is an important manifestation of the ability of the HKSAR leadership to govern, and is also an important symbol of enhancing the confidence of the Hong Kong people in the SAR government.

"If Solo continues to attack the Hong Kong dollar, the SAR government will make a corresponding statement and fight to the end." The director said to Fan Wuxian.

After hearing this, Fan Wuxian replied, "Since we have made up our minds, we should express our stance as soon as possible, on the one hand, let Solo throw a mouse, on the other hand, it can enhance the confidence of the Hong Kong people, and wait until the other party has launched it before announcing it, which seems to be a suspicion of passivity." ”

"Mr. Fan's intention is also good, but the chief executive believes that this is not yet the end of the mountain, and premature intervention in the financial market will also affect investor confidence." The director expressed embarrassment about this.

"If there is no interruption, there will be chaos. (All overspeed updates: search/search/9/9/9/COM)" Fan replied, "The chief executive himself is also a genius with quite good economic skills, why is he afraid of changing his situation at this time?" That's not the way it works in the mall. ”

"It's hard for me to say this kind of thing," the director said with a wry smile.

The life experience of the Chief Executive is also very wonderful, his father Tung Haoyun was a generation of ship kings, Dong Haoyun died of a heart attack in 1982, coupled with the recession of the shipping industry, a large surplus of cargo tonnage, the price of ships plummeted, and the failure of his family company OOCL to respond in a timely manner, resulting in a sharp drop in performance, and Tung Chee-hwa owed huge debts, amounting to more than 20 billion Hong Kong dollars.

In 1986, Fok Ying Tung stepped in to inject US$120 million to save OOCL.

In May of the same year, he announced the reorganization of the company, and in the new Dong Group, he lost control, changed from a boss to a clerk, and then borrowed 250 million yuan from five banks led by the Tokyo Bank.

In 1991, thanks to his efforts, OOCL turned a profit of US$9.8 million.

By the time of the first half of 994, OOCL's operating profit had increased eightfold to US$40 million, and it had finally saved its ancestral business from a loser to a rich.

Being elected chief executive this time is inseparable from Fok Yingdong's strong recommendation.

Fan Wuxian is more aware of this process, so there is this discussion.

Although the two did not come up with a result of the policy interview, Fan Wuzhi still agreed to the request of the SAR side, indicating that he would contribute to the stability of Hong Kong's prosperity in his own way, and under this situation, the SAR side changed its previous decision to hope that Fan Wuzhi would withdraw funds, and instead hoped that he could inject more funds to protect the Hong Kong dollar.

But Fan Wuxian still had some plans in his heart, and he knew very well that Solo sniping Hong Kong dollars was actually Xiang Zhuang's sword dance with the intention of Pei Gong, and he had other plans.

The Hong Kong dollar has been pegged to the US dollar since 1983, with 7.8 Hong Kong dollars being exchanged for one US dollar. Sniping at the dollar with the dollar, it is clearly not feasible. So why did Solo do this? In the original history, he shorted the Hang Seng Index under the pretext of sniping at the Hong Kong dollar, causing the Hang Seng Index to fall from 18,000 points to 6,000 points, which severely damaged the Hong Kong economy.

From this point of view, Solo's Asian sniper operation was basically a complete victory.

At this time, the attention of the SAR government is only at the level of defending the Hong Kong dollar, and the energy required to maintain the stability of the stock market is too great to be accomplished with the efforts of the SAR government, or the ten major families in Hong Kong can work together to achieve this goal.

But Fan Wuxian also noticed that not to mention whether the ten major families can work together, even if they can join forces to support the market, but the Hong Kong stock market is now too much of a bubble, and it must be squeezed.

In Fan's view, the SAR has enough resources to maintain the stability of the Hong Kong dollar market, and it is enough for him to support them with a maximum of US$20 billion to defend the Hong Kong dollar. The top priority is to prevent Solo from taking too much away from the Hang Seng Index.

Now the Hang Seng Index has been running at a high level, and there is a danger of going down at any time, although some people are already shouting for the Hang Seng Index to reach 20,000, it is obvious that this is unrealistic, especially under the current economic situation.

Fan Wuxian thought to himself, anyway, the decline of the Hang Seng Index is already expected, and if he wants to support the market, he always needs some costs, so it is better to lay out in advance now and short the Hang Seng Index, so that he can recover some losses at that time, or it is expected to make a big profit.

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