Chapter 1178 The Unlucky Hong Kong Governor

Just as Qin Fan thought.

Governor Yud is indeed under great pressure now.

His appointment was McLeho, the best governor of Hong Kong in history.

Hong Kong people call the period of time in Hong Kong in MacLeho's place "Medicaid Time".

The rise of Hong Kong's economy and status appeared during the term of MacLeho.

After Youde took office, he immediately faced severe Sino-British negotiations.

It can be said that among the previous governors, this governor was the most unlucky one.

Continuing the past and the future, the previous term is so outstanding and famous. Next is a difficult matter like the Chinese-British negotiations.

After just one year of taking office, Youde, he had not taken a breath from the Sino-British negotiations, and immediately faced the problem of the crazy depreciation of the Hong Kong dollar exchange rate.

The problem of Hong Kong dollar depreciation has been falling since the stock market crash in 1981.

But last year, this decline was just a dark drop, the kind that fell very slowly.

In a whole year, it only dropped from 7.6 to around 8.2.

Before July this year, the Hong Kong dollar exchange rate fell rapidly.

Until July, the Chinese and British delegations held negotiations on the future of Hong Kong Island for the second time.

However, during the negotiations, the negotiations failed to reach consensus and progress, which caused the confidence of Hong Kong people to be shaken and triggered a crisis of confidence.

After that, the Hong Kong dollar depreciated rapidly, and it took only two months to depreciate to around 8.9 yuan now.

The Hong Kong dollar exchange rate depreciated, and the future was uncertain, starting from July, the Hong Kong stock market also experienced a small stock market crash.

Qin Fan's acquisition of two listed companies, Miramar and Jinlibao, was so smooth.

It is also because now is the stock market crash, and no one is with him.

There are also factors that include this reason when Li Zhaoji retreats.

Nowadays, there have been cases of rushing to buy grain on the market, and many banks have also squeezed out.

Even HSBC is no exception.

Qin Fan was auditioning for the actor "I Have a Date with a Zombie".

No. 18, Yalibi Road, Mid-mountain, Central Ring Road, Central District, Main Office.

Sir Yode is furious.

Among the people he lost his temper, he went out and was an amazing giant in the city.

There is Secretary for Administration, Xia Dingji, who is the head of the Hong Kong government, the chief civil servant of Hong Kong Island, and a member of the Executive Council and the Legislative Council.

Position and power are only under the Governor.

There are the Foreign Exchange Fund Administration and Banking Supervision Office that manages the entire Hong Kong Island Securities, Finance and Banking Corporation, and the head of the Securities Regulatory Office.

He was squirting all of them.

".In less than two months, the Hong Kong dollar exchange rate has depreciated by almost one dollar! Although I didn't study economics in college, I know that the currency depreciation is so depreciated, and the market will definitely move!"

".You always tell me that this is a market behavior, this is a capitalist market behavior! OK, I admit that this is a market behavior!"

".But you have to know that this kind of market behavior continues. Don't wait for the north to come and take over Xiangjiang. The citizens of Xiangjiang will drive us away by themselves!"

".I don't want to be the first governor of the citizen port. I believe you don't want to be the first principal palace to be driven away by the citizen!"

"Xia Dingji, tell me! What should I do!"

"."

Over the past month, Governor Yud has been under great pressure on his head and has begun to bald!

However, in the face of this situation, before the real outcome of the Sino-UK negotiations came into play.

There is actually no good idea between Youde and the Hong Kong government.

Because the Hong Kong dollar exchange rate depreciates, after all, it is because investors and Hong Kong citizens themselves no longer optimistic about this city.

Under this premise, no official manager can do anything about it.

The tantrum of the Governor General did not receive a response from his subordinates.

In fact, he also knew that if the Chinese-British negotiations did not have a good result for the Dayin Empire, then this situation would not be completely resolved.

Not even London.

Moreover, in London, it is not just that it is deliberately depreciating the Hong Kong dollar and causing chaos in Hong Kong.

They may think that this can force others to retreat and achieve their goals in the Great Yin Empire.

But the reality is-

Even if it is the second negotiation.

Even if this happens to Hong Kong Island, the attitude in the north is still as firm.

London is doomed to make mistakes.

The sun never sets in the empire has set, and a war in the Cabernet Islands allows the world to see the desolation of the former overlord.

"I saw something today."

After his temper broke out, Youde sighed and looked at everyone with a blank expression:

“Fiji, Bolivia and Belize, these small countries have recently applied to us to open offices in Hong Kong.”

".Haha, these stinky cockroaches. They didn't apply before, and they didn't apply late. They just came here to apply now."

"Who doesn't know that they are doing this to attract investment immigrants!!"

As he spoke, Governor Youde's eyes gradually gathered on the Director-General Xia Dingji.

Of course, Xia Dingji is a Yin Guoren. The name Xia Dingji is just his Chinese name.

He has been working in Hong Kong since 1962.

In 1971, Xia Dingji was promoted to the position of Financial Secretary. Since then, Hong Kong Island’s financial policy was decided by him during his tenure.

He was the founder of Hong Kong's financial system and established the Hong Kong government's financial management philosophy.

Later, he was promoted to Chief Secretary for Administration, but he still had a great influence on the Hong Kong government's financial policies.

Therefore, in addition to three regulatory authorities, Yu De also got angry at Xia Dingji for the fall in the Hong Kong dollar.

Because this is also considered to be Xia Dingji's affairs, the current Financial Secretary was his former subordinate.

Seeing the Governor of Hong Kong staring at him, even if Xia Dingji didn't want to stand out, he knew it was impossible.

He had no choice but to say: "In this situation, if you want to prevent the Hong Kong dollar from depreciating, you can only use the Hong Kong government's foreign exchange to buy back the Hong Kong dollar from citizens and investors."

The practice he mentioned is also the practice that most government officials choose when facing currency depreciation.

However, Youde was not satisfied at all. If this method was easy to use, the Governor of Hong Kong would have used it long ago.

Where do you need Xia Dingji to give advice and think of this solution?

"William! Tell our Secretary for Administration, how much foreign exchange we have now!" Yud said directly to another official in the government.

William is the head of the Hong Kong Foreign Exchange Fund Management Office and manages all foreign exchange in the Hong Kong government.

"We still have 8.6 billion US dollars and 2.6 billion pounds," William said as he stood up.

Now, 80 years ago, the US dollar has long become the world currency.

Although the exchange rate of the pound is strong, its influence has been reduced.

Now Europe and countries within the British Federation will use some pounds.

Of course, Hong Kong Island will also have some pound reserves, and it is easy to change it to US dollars anyway.

"Listen! Our foreign exchange is only so much! Can we save this situation by taking out all of them to buy Hong Kong dollars?" Yu De looked at Xia Dingji and said with a sneer.

"No." Xia Dingji, "and it is impossible to take it all out. After all, we still have to keep some reserves to issue new Hong Kong dollars."

The value of the Hong Kong dollar is based on the Hong Kong government's credit and foreign exchange reserves.

If the Hong Kong government's foreign exchange reserves are exhausted, the credit value of the Hong Kong dollar will also fall to the deepest level.

If this happens, it will be even more doomed!

However, if you wait for the Hong Kong dollar exchange rate to continue to drop, the situation will also be very threatening.

"Maybe." Xia Dingji said quickly as he saw Youde getting angry again.

"Another method can be used, as long as it can be successful, there is no need to use the Hong Kong government's foreign exchange."

Yud: "Let me tell me."

After all, Xia Dingji worked in the Finance Department so much, and also laid the foundation for the Hong Kong government's financial system.

He is still professional in finance.
To be continued...