On Friday morning, Xinjian Real Estate and Hutchison Real Estate successively transferred enough land funds into the account of the Land Planning Department, which also marked that the land was officially owned by the two companies.

In the afternoon of the same day, news spread like wildfire that Xinjian Bank, Dao Heng Bank, and Bank of East Asia had loaned most of their funds to Xinjian Real Estate, Hutchison Real Estate, and Wheelock Land.

The core meaning is that these three major banks do not have much liquidity at all, and depositors' deposits are basically lent to several major real estate groups.

And there is a lot of information to prove it, such as Xinjian Real Estate’s large-scale investment, the construction of several major Wheelock plazas, and Hutchison Real Estate’s large number of projects.

One stone can be said to stir up a thousand waves. Even though many citizens are at work today, there are long queues at all the business offices of the three major banks, countless reporters are conducting on-site interviews, and ATV and Wireless are even broadcasting the incident live.

In the Wheelock Building, after Li Jianhui received the report, he did not bother to find out who was targeting the Xin Jian Clique and its allies.

He immediately called Li Zaiwei and asked him to immediately contact Citibank, Fujifilm, Daiichi Banking, Sumitomo, Bank of China, HSBC, Standard Chartered and other banks to exchange for one billion US dollars in Hong Kong dollars to deal with this crisis.

At the same time, Li Jianhui also told Feng Jingyao and Li Guobao not to worry. As long as they survive today, Huihong Group will deposit HK$2 billion in each of their banks tomorrow morning.

With Li Jianhui's commitment, Feng Jingyao and Li Guobao were relieved. After arranging for senior management to transfer reserve funds to support major branches at any time, they personally attended the bank's external press conference.

At the meeting, the two major banks announced their loan status. Whether it is Daoheng Bank or Bank of East Asia, Xinjian enterprises currently have zero loans.

As for the loans that Xinjian Department had, as early as the end of January, Xinjian Department had paid them back in full.

Both Li Guobao and Feng Jingyao promised at the press conference that business outlets will not be closed as long as it is during working hours, and at the same time, they will ensure sufficient funds for each business outlet.

As for Xinjian Bank, they were not moved at all. Li Jianhui and Xinjian senior management did not come forward to hold any press conference.

Li Zaiwei was very fast. Even HSBC and Standard Chartered did not delay the exchange. He exchanged more than 5.1 billion Hong Kong dollars before the major banks got off work that afternoon.

Originally, Li Jianhui thought that if HSBC and Standard Chartered made it difficult for Xin to establish a relationship, he could drag these two companies into trouble to see if he could break the two banks' monopoly on the right to issue Hong Kong dollar notes.

I didn't expect these two banks to be so straightforward, even faster than the other major banks, and did not give the Xinjian Department a chance to attack them.

This time, in addition to HSBC and Standard Chartered, Li Jianhui looked for banks with fairly good relationships, because the person in charge in Xiangjiang approached them directly, and they didn't talk about how long it would take for the review to be completed. As long as the US dollars passed through, they could be exchanged for Hong Kong dollars.

HSBC and Standard Chartered are the issuers of Hong Kong dollars. If the U.S. dollars of these two major banks cannot be exchanged for Hong Kong dollars, it will be a big problem. Once word gets out, it may immediately cause a financial crisis.

When the bank was about to close in the afternoon, Xinjian Bank issued an announcement through Jiayi Group. In order for the general public to withdraw their deposits from Xinjian Bank, Xinjian Bank would extend its business hours to 9 p.m.

This news not only stunned the citizens, but even the business leaders felt confused. The biggest fear of opening a bank is a run. Absolutely most bank failures are due to runs.

The Xin Jian Department was so confident in the face of a run that they just went to work normally and extended their working hours. This was the first time they had encountered this in decades.

Before they could recover, Dao Heng Bank and Bank of East Asia also announced at the same time that the business hours of Hong Kong branches today would be extended to 9 p.m.

In a private room at the Peninsula Hotel, Shen Bi said to Shi Huaiya, Nubigian, Chen Zengxi, Li Chaoren and others: "You should try your best not to let this matter involve you. There is no shortage of funds. This afternoon, 200 million US dollars of Hong Kong dollars were exchanged at HSBC alone.

I also asked Standard Chartered, and they also exchanged 200 million US dollars in Hong Kong dollars. According to HSBC's investigation, many senior executives of Xinjian visited Bank of China, Fuji, Citi, Sumitomo and other banks at the same time this afternoon. Obviously Also in exchange for Hong Kong dollars.

Even if these banks are half as much as ours, that's still several billions of Hong Kong dollars, and it's simply impossible to collapse Xin Jianyi with this."

Several people present had very bad expressions. This was completely different from what they had imagined.

Newbigian said: "Shen Bi, are you sure those US dollars are real? Where did they get so much money?"

This kind of question was also what others present wanted to ask. Where did the Xinjian Department get so much money? I thought I already knew the situation of the Xinjian Department relatively well, but I didn't expect that the so-called understanding before was so ridiculous.

Regarding the financial resources shown by the Xinjian Department, what can they use to compete with it? The most important thing is that they have no idea how strong the Xinjian Department really is.

"Currently, I don't know how much money Xinjian Bank has, because Xinjian Bank is not a listed bank, and it is difficult for us to know how much foreign exchange they have.

However, I have contacted the Monetary Authority, and they will conduct an inspection of major banks in the next two days. By then, they should be able to know the specific cash flow and foreign exchange reserves of Xinjian Bank."

After the MacLehose era opened up Hong Kong's financial sector and allowed free entry and exit of foreign exchange, it was generally difficult for the Monetary Authority to grasp the specific foreign exchange reserves of each bank, especially those unlisted banks.

Although HSBC and Standard Chartered have the right to issue banknotes, they cannot print money at will. This aspect is strictly supervised by the Monetary Authority.

Xinjian has many industries, especially the gaming products of Huihong Group, which have been very popular in the past two years. They don't know how much foreign exchange has accumulated for Xinjian Bank.

This is also the benefit of companies that are not listed. They do not need to announce their company's financial results every quarter.

Chen Zengxi said in a deep voice: "Now we should discuss what to do next. The Xinjian Department still has such a huge amount of funds in hand, and it is bound to accelerate the expansion of the industry in Xiangjiang.

Once the Sha Tin area of ​​Xin Jian Department is developed like Tin Shui City in Tseung Kwan O, we will not think about the price increase. This will not only have an impact on our profits, but will also be a heavy blow to our stock market."

No one has a good solution in this regard. Either they price it at the same price as Xinjian Real Estate, or they wait until the Xinjian Department is developed before developing the property.
Chapter completed!