Chapter 446: 446

Out of concern for Concorde, Gao Xian returned to Xiangjiang from London and chose the way of Midway transfer, that is, first take the plane to Bahrain in the Middle East, and then continue the transfer, first to xingjiapo, or fly directly to Xiangjiang.

As a result, Gao Xian was lucky. The middle link didn't waste much time. He returned to Xiangjiang almost twice as fast as usual.

"If it weren't for the maintenance of Concorde, you could really find a way to build your own private plane or company's business plane." Gao Xian shook his head with emotion and could only hope that Concorde could really operate the route from London to the Far East.

Gao Xian's return to Xiangjiang this time mainly deals with the affairs of Xiangjiang futures exchange.

Objectively speaking, the overall business performance of Xiangjiang futures exchange at this stage is not hot.

The reason is not that the entry threshold of Xiangjiang futures exchange is too high. In fact, as long as you are a resident of Xiangjiang or a company registered in Xiangjiang, you can apply to become a full member or affiliated member of Xiangjiang futures exchange.

In terms of expenses, full members must purchase a share of shares of Xiangjiang futures exchange with a face value of 100000 yuan, and pay a compensation fund of 50000 yuan and a fee of 10000 yuan for the right to market that can be directly traded in Xiangjiang futures exchange; Affiliate members who do not have the right to go out of the market only need to pay a membership fee of 5000 yuan.

In sum, the entry threshold of Xiangjiang futures exchange is lower than that of the four stock exchanges in Xiangjiang.

The reason why the overall performance of Xiangjiang futures exchange is slightly dull is inseparable from complex environmental factors.

In terms of gold trading varieties, Xiangjiang has a mature gold stock exchange and the local London gold market, and the position of Xiangjiang futures exchange naturally ranks behind.

In addition to cotton trading varieties, cotton merchants and textile manufacturers do not have the awareness of risk hedging. Although Gao Xian arranges his subordinates to provide more thoughtful special services, Xiangjiang textile industry has a declining trend due to the impact of the international environment. For example, Chen Tinghua, the boss of Nanfeng industry, is ready to go into real estate.

As for the two trading varieties of sugar and soybean, they are commendable, especially the latter, which is favored by a futures commission merchant.

However, Gao Xian is not anxious about this. Anyway, it is enough for his own enterprises to make good use of the local futures tools provided by Xiangjiang futures exchange to hedge risks.

In line with the principle that it can at least serve its own company, Gao Xian is ready to let Xiangjiang futures exchange launch foreign exchange futures.

From the perspective of self-interest, for example, the personal computers and video game consoles produced by Huanyu electronics in Gaoxian industrial estate can be transported to the American market for sale. They can make a foreign exchange swap with Ruixia in the United States to avoid losses to the two companies due to abnormal exchange rate fluctuations in the freely convertible Hong Kong dollar and US dollar in this era.

In addition, from the vigorous development of Xiangjiang foreign exchange market since the Hong Kong government liberalized foreign exchange control, it should be called the right time for Xiangjiang futures exchange to launch foreign exchange futures at this time.

Gao Xian is in his office, waiting for Englishman Peter Shi, vice chairman of Xiangjiang futures exchange, while browsing the report data of Xiangjiang futures exchange.

Now it is October 1977. With two months to go, the performance of Xiangjiang futures exchange this year can basically outline a general outline.

For example, from the commodity futures trading situation of Xiangjiang futures exchange, cotton is expected to reach 10000 hands; Sugar should be more than 1500 hands; Soybeans, which are highly favored by one futures commission merchant, can be basically determined to be more than 10000 hands; Despite the fierce competition between the gold stock exchange and the local London gold market, gold transactions are still very active, with about 15000 hands.

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Gao Xian put down the document, looked out of the window and thought to himself. It seems that financial derivatives are still needed to stimulate investors' enthusiasm for Xiangjiang futures exchange.

However, if the Hang Seng Index, which is expected to be the most promising, wants to become a futures, it is not what Gao Xian can say. It is the child raised by Hengsheng bank for many years.

Perhaps covered warrants are a relatively easy entry point.

At this time, Peter came in and said, "Sir Gao, you seem to have been tanned by the sun these days."

Gao Xian laughed. "It's estimated that he spent a long time running outside. He didn't pay attention to the protection."

"However, sir Gao looks more manly and may have charmed a lot of women," said Peter

From these greetings, it is not difficult to see that Gao Xian and Shi Peter, the partners of Xiangjiang futures exchange, can be called personal, happy and tacit cooperation.

Gao Xian chose a Brit as the executive vice chairman of Xiangjiang futures exchange, naturally to meet the need to balance the forces of all parties.

Moreover, according to the Xiangjiang Commodity Futures Trading Ordinance promulgated by the Hong Kong government, the Xiangjiang futures exchange should be subject to appropriate supervision by the government. It can also reassure the Hong Kong government that British people such as Peter Shi hold important positions in the Xiangjiang futures exchange.

From the work performance of more than a year, Peter Shi is still convinced that Gao Xian, who is younger than himself, works in a regular way and has no major problems.

After the conversation got to the point, Peter Shi first mentioned the reaction of Xiangjiang economic circles to the upcoming foreign exchange futures of Xiangjiang futures exchange, "Last year's Hong Kong dollar foreign exchange index was nearly 109, and this year's Hong Kong dollar foreign exchange index will certainly rise, which shows the vigorous development of Xiangjiang foreign exchange market. Everyone welcomes the introduction of foreign exchange futures by Xiangjiang futures exchange."

Gao Xian nodded, "what about Zhengfu?"

Peter Shi's answer was very concise, "may be concerned about the operation of the Hong Kong dollar, but indifferent to other currencies."

Gao Xian looked at the green tea leaves stretching out in the cup. His mind was a little erratic. "The Hong Kong government's monetary policy is still so confused."

His view is relatively easy to understand when compared with the Hong Kong dollar linked exchange rate system introduced by the Hong Kong Government in the 1980s in the "old script".

Under the Hong Kong dollar linked exchange rate system, two exchange rates coexist. One is the free exchange rate in the market, and the other is the official exchange rate only existing between the Zhengfu exchange fund and note issuing banks such as HSBC and Standard Chartered Bank.

When the free exchange rate deviates from the official exchange rate by more than the allowable range, Xiangjiang monetary authority will take action to correct it.

In this era, the "official exchange rate" mechanism has not appeared, and the Hong Kong government has not realized it, which has buried hidden dangers for the uncontrolled depreciation of the Hong Kong dollar.

"Since the Hong Kong government has no such awareness, I will let go and do it!" after Gao Xiansi paid, he put down his tea cup and smiled. "Now that everything is ready, we will officially launch foreign exchange futures."

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