Chapter 363: 363

After the red tape at the beginning of the banquet passed, Gao Xian first talked openly with Hong Kong Governor Mai Lihao, "governor, I really didn't expect that you had such high hopes for me in favor of the bank."

"I don't think you want me to play the role of Challenger of the existing pattern of Xiangjiang banking industry when you want me to take over the favorable bank. Can you express your goal so that I can know it well in my next work."

The governor Mai Lihao nodded earnestly, "David, your business attainments are absolutely worthy of the economic adviser of Zhengfu. You must understand my pressure."

"To sum up in the most concise terms, I hope you can make favorable banks enough to join the current functional structure of the central bank composed of Zhengfu exchange fund, HSBC and Standard Chartered, so as to enhance the ability to resist risks."

If Gao Xian hears it, it seems that in the Bureau of favorable bank, Hong Kong Governor Mai Lihao should not collude with Shen Bi, or even have the tacit understanding between new Bijian and Shen Bi, but really promote the matter from a pragmatic point of view.

To put it bluntly, Hong Kong Governor Mai Lihao was at a loss when Shen bi was used as a gun. As for his abacus, it is not difficult to understand.

As we all know, there is no central bank in Xiangjiang, but this does not mean that the corresponding responsibilities of the central bank will disappear out of thin air. The solution adopted by the Hong Kong government is to distribute them to various government institutions and commercial banks, such as the government exchange fund, HSBC and Standard Chartered bank.

Take the role of "lender of last resort", one of the responsibilities of the central bank. For example, if a bank in Xiangjiang is run by depositors because of deep rumors and needs liquidity assistance, or faces bankruptcy due to poor management and needs capital injection assistance, HSBC and Standard Chartered Bank have the responsibility to stand up.

Hang Seng Bank, a leading Chinese bank in Xiangjiang, suffered a depositor run because of being slandered by rumors, and was finally taken control by HSBC, which was willing to "reveal the bottom".

Another responsibility of the central bank is to issue banknotes. At this stage, the three commercial banks HSBC, Standard Chartered Bank and vanguard bank have been authorized by the Hong Kong government to issue banknotes, but it is the Hong Kong government's exchange fund that finally "reveals the bottom" of the Hong Kong dollar.

In this era, there is no "old script". Many years later, the Hong Kong dollar has encountered the kind of treacherous and thrilling value crisis caused by international capital speculation, but it is still dragged down by the collapse of the Bretton Woods system like a small boat in the sea.

Originally, the Hong Kong dollar was directly linked to the British pound, but when the British pound was really facing the pressure of depreciation that could not be alleviated, regardless of the life or death of the Hong Kong dollar, it ran first. Therefore, the Hong Kong government decided in June 1972 that the Hong Kong dollar was decoupled from the British pound and directly linked to the US dollar. The exchange rate was HK $5.65 to US $1.

Unfortunately, the US dollar has also been depreciating in recent years. Under increasing pressure, the Hong Kong government had to announce two years later, that is, in November last year, that the Hong Kong dollar was decoupled from the US dollar and the Hong Kong dollar was floating freely. Now the exchange rate has long fallen below six.

In the era when the Hong Kong dollar was pegged to the British pound, the Hong Kong government set up a reserve in London. Now it has moved back to Xiangjiang and operated in the form of an exchange fund. It is not difficult to imagine that it has only been operating for a few years, and the card face is limited, which makes Hong Kong Governor Mai Lihao, who is keen to increase fiscal expenditure frequently, obviously feel that he is tied up and even that the crisis is looming.

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Gao Xian's wealth growth rate in recent years is amazing. Under Shen Bi's clever words, Hong Kong Governor Mai Lihao wishful thinking that the Hong Kong government can benefit from Gao Xian's amazing means of making money through favorable banks.

"The development goals set by the governor for the bank are really a bit daunting to me, but I am willing to work hard to shoulder this important task." Gao Xian made an impassioned speech and put an end to his conversation with governor Mai Lihao.

Governor McLehose nodded happily, got up and said, "I'll go and catch up with Mr. Nicholson first."

Although Nicholson is notorious in the United States, the former president of the world superpower can not be underestimated by Xiangjiang. Moreover, even if Nicholson stepped down, he did not completely lose his energy, so Hong Kong Governor Mai Lihao really had to meet with him with a correct attitude.

Newbijian said: "the imperial preferential tax system is about to fail. I don't know whether the United States can successfully realize the inclusion of Xiangjiang in the preferential tariff beneficiary areas. I hope Mr. niksson can provide some reference information."

In the years since the end of the Second World War, the United States has been using the predecessor of the World Trade Organization - the general agreement on Tariffs and trade to suppress the imperial preferential tax implemented in the Commonwealth system; The European Economic Community, which Britain has been striving to join before, is also not interested in Imperial preferential tax; Now Britain has become a member of the European Economic Community, and the imperial preferential tax of the Commonwealth has accelerated its disintegration.

Although Xiangjiang economic system has manufacturing industry at this stage, as a free port, import and export trade has always been the top priority.

In 1969, when Gao Xiangang came to this era, Xiangjiang's economy emerged from the turmoil of the previous two years and began to recover. The total import and export trade exceeded HK $28 billion, including more than HK $14.8 billion in imports, more than HK $10.5 billion in exports and more than HK $2.6 billion in re exports.

Last year, in 1974, the total import and export volume of Xiangjiang exceeded HK $60 billion, reaching more than HK $64 billion, including imports of more than HK $34.1 billion, exports of more than HK $22.9 billion and re exports of more than HK $7.1 billion.

These figures, including trade volume and growth rate, are enough to show how import and export trade plays an important role in the economic development of Xiangjiang, and is more sensitive to the changes of the multilateral mechanism of international trade.

As for Jardine's century old British capital in the Far East, it is no less than facing a drastic change in the new market environment similar to that in China a few decades ago. Whether it can be adjusted in time may be related to life and death.

Gao Xian glanced at Niu Bijian with concern on his face and thought with glee that Jardine began to show decline in the late 1970s in the "old script". There are different opinions on the reasons. Now it is estimated that fate is hard to change. It is not worth getting into the trap set by Shen Bi to confuse you. I am bound in terms of capital liquidity.

Without answering newbijian's remarks, Gao Xian turned to ask Shen Bi bluntly, "when will the favorable bank recovery plan start?"

"Waiting for you at any time." Shen Bi replied with a secure victory: "Sir Gao can send a department to benefit the bank tomorrow to participate in the transfer of control, asset restructuring and other related matters."

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