Chapter 642
If audio player doesn't work, press Stop then Play button again
Facts have proved that Gao Xian really doesn't spend a gentleman's belly with a villain's heart.
With the commencement of the work of the Hong Kong dollar exchange rate review committee, the high string improved currency board system gradually fully surfaced. Some members who had to be invited finally expressed their views and voiced their opposition. In particular, the attitude of the financial secretary designate, Mr Patrick Pang, was the most clear. "The government cannot stabilize the Hong Kong dollar exchange rate at any specific level, and the market is the factor."
In the coming July, the current financial secretary of the Hong Kong government, Xia Dingji, will be promoted to the Chief Secretary of the Hong Kong government, and the financial secretary designate, Peng Lizhi, will become the official financial secretary. Therefore, his attitude almost represents that of the next financial secretary.
Peng Lizhi's upcoming appointment as the financial secretary of the Hong Kong government will break a history, that is, the first financial secretary who has not been a civil servant of the Hong Kong government so far.
So, where did Peng Lizhi suddenly "emerge"?
The answer is thought-provoking. It involves the coping strategies of major British interest groups in Xiangjiang in the current uncertain environment. Peng Lizhi belongs to the talent sequence of relatively low-key Swire Group's external "export".
Just last year, Peng Lizhi was also the chairman of the board of directors of Guotai Airlines Co., Ltd. and Swire Pacific Co., Ltd. in addition, Peng Lizhi was a senior senior employee of Swire Group. He retired from the army after the end of World War II and joined Swire Group.
Gao Xian remained silent about this. After all, the Hong Kong dollar exchange rate review committee is a platform tailored by him for the improved currency board system. In order to reflect brainstorming, of course, he should let the other party say it casually.
Of course, Gao Xian secretly touched the details of Peng Lizhi, for example, chatting with Xia Dingji, who is about to become the former financial secretary.
Xia Dingji is preparing for his appointment as chief secretary. He is very good at dealing with the current work of the financial secretary. On the one hand, he is very enthusiastic about taking part of the money from the exchange fund to Gaoyi investment value-added, and has almost promoted it. On the other hand, he has never made a clear statement on the reform of monetary policy. At most, he can mention to the outside world that the ongoing attempts of banks are very constructive, However, it is of great importance and still needs further investigation.
"The reform of the Hong Kong dollar exchange rate can not be achieved overnight. Let's leave it to the next financial secretary for overall planning." Xia Dingji, who is about to step down as financial secretary and be promoted to Chief Secretary, finally paid the end to Gao Xian. Although it is very sophisticated, it is not surprising. After all, if he now promotes the reform of the Hong Kong dollar exchange rate, it is equivalent to forcibly assigning homework to the next term, and the effect is not necessarily good.
Seeing Sir Gao frown slightly, Xia Dingji pulled back his words and said, "of course, the Zhengfu will not put the report to be formed by the Hong Kong dollar exchange rate Review Committee on the shelf. After all, if the Hong Kong dollar depreciates again, the Hong Kong economy will not be able to bear it, which will make me even more headache."
Gao Xian pondered: "at least clarify the degree of adoption. For example, Huifeng bank, Standard Chartered Bank and favorable bank all try out the internal exchange rate with the exchange fund. Anyway, they will set the upper limit of transactions."
"There is still a risk of hollowing out the exchange fund, and Huifeng bank can't join in." Xia Dingji waved his hand again and again. "Sir Gao, from the prototype of the report to be formed by the Hong Kong dollar exchange rate review committee, the driving force comes from bank arbitrage and competition. Huifeng bank is too large, accounting for more than 75% of the issuance of Hong Kong dollar cash alone."
Gao Xian shrugged. "If Zhengfu has been so forward-looking and hesitant, the hidden danger of Xiangjiang economy will only deepen day by day. When it breaks out, it will be more difficult to solve it!"
In fact, although Gao Xian complained so much, he knew Xia Dingji's concerns like the back of his hand.
To put it simply, it is only 1981 and the degree of globalization is limited. The concept of foreign exchange reserves has been around for some years, but the degree of attention paid to it is also limited. The size of Xiangjiang's exchange fund is far less than that in the "old script" during the Asian financial crisis.
During the period when the Hong Kong dollar was pegged to the British pound, Xiangjiang's foreign exchange fund was kept in the settlement bank in London, England, which helped Xiangjiang, who entered the Pacific war stage in the Second World War and was involved in the war, avoid the bad luck that the foreign exchange fund was robbed by a book, and the Xiangjiang economic system, which was almost completely destroyed after being driven away, mainly relied on this foreign exchange fund, Step by step to recover.
However, after the collapse of the Bretton Woods system, Britain's economic strength could not cover its younger brothers. They all sharpened their heads and sought to join the European economic community. The Hong Kong government had to decouple the Hong Kong dollar from the British pound and instead aim at the US dollar. As a result, the foreign exchange funds of Xiangjiang were moved from London to Xiangjiang, and then the British pound in the foreign exchange fund was changed into US dollars, Wait a series of operations, that's called a toss!
As a result, it is much more convenient for the Hong Kong government to use the exchange fund to affect the exchange rate of the Hong Kong dollar, including meeting the financial needs of the government. From 1975 to 1976, the Hong Kong government will no longer announce the surplus of the exchange fund.
On the other hand, last year, in 1980, Hong Kong's money supply M1, that is, the legal tender held by the public, including Hong Kong dollar notes and coins, plus the demand deposits of licensed bank customers, exceeded HK $24 billion; M2 covers a wider range, exceeding HK $96 billion; M3, which covers the widest range, exceeds HK $138 billion.
The size of the exchange fund is like billions of dollars. Considering the emergency situations such as the misappropriation of the government's finances, it is not easy to deal with the currency contraction aimed at curbing the depreciation of the Hong Kong dollar. It is not surprising that Peng Lizhi and others have an excuse to oppose it.
In the final analysis, the pressure of life and death did not come to the head, and all kinds of statements can stand.
Seeing that Sir Gao complained openly, Xia Dingji quickly comforted him: "I think it is an old and prudent progress to expand the scope to Standard Chartered Bank first. In this way, we can detect how Sir Gao's model actually performs in an environment not under Sir Gao's direct leadership."
Gao Xian nodded. It is not unacceptable for him to slowly grind forward and the Hong Kong government to retreat. Most of the real games are entangled. What's more, can't you afford it?
"In the ten years since Sir Xia Dingji served as the financial secretary, the financial industry in Xiangjiang has developed rapidly. Sir Xia Dingji and I have also got along well and become good friends without saying anything." after Gao Xian summarized his friendship with Xia Dingji, the conversation changed: "I hope that after taking office, Mr. Peng Lizhi can inherit the solid foundation left by Sir Xia Dingji, so that the financial secretary's work can be wholeheartedly supported by the banking sector."
"I'll remind Peng Lizhi." Xia Dingji's smile is slightly complex. On the one hand, it's dark and cool. Sir Gao's words show that the financial secretary can't leave him. On the other hand, he's vaguely worried that the relationship between Sir Gao and Peng Lizhi doesn't seem to be so harmonious.
You should know that the resistance to the operation of Gaoxian through the Hong Kong dollar exchange rate review committee this time mainly comes from the Hong Kong government. Members of the Executive Committee of the Hong Kong Association of banks, including Huifeng bank and Standard Chartered Bank, are happy to see the implementation of the currency board system driven by Bank arbitrage and competition.
In this case, jazz Gao, who has great energy, has a momentum of cheering and gathering responders.
Moreover, one thing can not be ignored. Huifeng bank has failed to acquire Royal Bank of Scotland because it is the quasi Central Bank of Xiangjiang and then tied to the fate of Xiangjiang. However, it has been busy in vain. Its attitude has become somewhat subtle and seems to have the idea of "decentralization".
After the two kinds of assistance are superimposed, sir Gao's position in Xiangjiang's financial sector becomes more and more prominent. If Peng Lizhi doesn't look at it, he will inevitably create contradictions.
……
PS: bow and thank book friends: chhtm1977, Zhao Yuanxi's reward!!
Please report us if you find any errors so we can fix it asap!
Facts have proved that Gao Xian really doesn't spend a gentleman's belly with a villain's heart.
With the commencement of the work of the Hong Kong dollar exchange rate review committee, the high string improved currency board system gradually fully surfaced. Some members who had to be invited finally expressed their views and voiced their opposition. In particular, the attitude of the financial secretary designate, Mr Patrick Pang, was the most clear. "The government cannot stabilize the Hong Kong dollar exchange rate at any specific level, and the market is the factor."
In the coming July, the current financial secretary of the Hong Kong government, Xia Dingji, will be promoted to the Chief Secretary of the Hong Kong government, and the financial secretary designate, Peng Lizhi, will become the official financial secretary. Therefore, his attitude almost represents that of the next financial secretary.
Peng Lizhi's upcoming appointment as the financial secretary of the Hong Kong government will break a history, that is, the first financial secretary who has not been a civil servant of the Hong Kong government so far.
So, where did Peng Lizhi suddenly "emerge"?
The answer is thought-provoking. It involves the coping strategies of major British interest groups in Xiangjiang in the current uncertain environment. Peng Lizhi belongs to the talent sequence of relatively low-key Swire Group's external "export".
Just last year, Peng Lizhi was also the chairman of the board of directors of Guotai Airlines Co., Ltd. and Swire Pacific Co., Ltd. in addition, Peng Lizhi was a senior senior employee of Swire Group. He retired from the army after the end of World War II and joined Swire Group.
Gao Xian remained silent about this. After all, the Hong Kong dollar exchange rate review committee is a platform tailored by him for the improved currency board system. In order to reflect brainstorming, of course, he should let the other party say it casually.
Of course, Gao Xian secretly touched the details of Peng Lizhi, for example, chatting with Xia Dingji, who is about to become the former financial secretary.
Xia Dingji is preparing for his appointment as chief secretary. He is very good at dealing with the current work of the financial secretary. On the one hand, he is very enthusiastic about taking part of the money from the exchange fund to Gaoyi investment value-added, and has almost promoted it. On the other hand, he has never made a clear statement on the reform of monetary policy. At most, he can mention to the outside world that the ongoing attempts of banks are very constructive, However, it is of great importance and still needs further investigation.
"The reform of the Hong Kong dollar exchange rate can not be achieved overnight. Let's leave it to the next financial secretary for overall planning." Xia Dingji, who is about to step down as financial secretary and be promoted to Chief Secretary, finally paid the end to Gao Xian. Although it is very sophisticated, it is not surprising. After all, if he now promotes the reform of the Hong Kong dollar exchange rate, it is equivalent to forcibly assigning homework to the next term, and the effect is not necessarily good.
Seeing Sir Gao frown slightly, Xia Dingji pulled back his words and said, "of course, the Zhengfu will not put the report to be formed by the Hong Kong dollar exchange rate Review Committee on the shelf. After all, if the Hong Kong dollar depreciates again, the Hong Kong economy will not be able to bear it, which will make me even more headache."
Gao Xian pondered: "at least clarify the degree of adoption. For example, Huifeng bank, Standard Chartered Bank and favorable bank all try out the internal exchange rate with the exchange fund. Anyway, they will set the upper limit of transactions."
"There is still a risk of hollowing out the exchange fund, and Huifeng bank can't join in." Xia Dingji waved his hand again and again. "Sir Gao, from the prototype of the report to be formed by the Hong Kong dollar exchange rate review committee, the driving force comes from bank arbitrage and competition. Huifeng bank is too large, accounting for more than 75% of the issuance of Hong Kong dollar cash alone."
Gao Xian shrugged. "If Zhengfu has been so forward-looking and hesitant, the hidden danger of Xiangjiang economy will only deepen day by day. When it breaks out, it will be more difficult to solve it!"
In fact, although Gao Xian complained so much, he knew Xia Dingji's concerns like the back of his hand.
To put it simply, it is only 1981 and the degree of globalization is limited. The concept of foreign exchange reserves has been around for some years, but the degree of attention paid to it is also limited. The size of Xiangjiang's exchange fund is far less than that in the "old script" during the Asian financial crisis.
During the period when the Hong Kong dollar was pegged to the British pound, Xiangjiang's foreign exchange fund was kept in the settlement bank in London, England, which helped Xiangjiang, who entered the Pacific war stage in the Second World War and was involved in the war, avoid the bad luck that the foreign exchange fund was robbed by a book, and the Xiangjiang economic system, which was almost completely destroyed after being driven away, mainly relied on this foreign exchange fund, Step by step to recover.
However, after the collapse of the Bretton Woods system, Britain's economic strength could not cover its younger brothers. They all sharpened their heads and sought to join the European economic community. The Hong Kong government had to decouple the Hong Kong dollar from the British pound and instead aim at the US dollar. As a result, the foreign exchange funds of Xiangjiang were moved from London to Xiangjiang, and then the British pound in the foreign exchange fund was changed into US dollars, Wait a series of operations, that's called a toss!
As a result, it is much more convenient for the Hong Kong government to use the exchange fund to affect the exchange rate of the Hong Kong dollar, including meeting the financial needs of the government. From 1975 to 1976, the Hong Kong government will no longer announce the surplus of the exchange fund.
On the other hand, last year, in 1980, Hong Kong's money supply M1, that is, the legal tender held by the public, including Hong Kong dollar notes and coins, plus the demand deposits of licensed bank customers, exceeded HK $24 billion; M2 covers a wider range, exceeding HK $96 billion; M3, which covers the widest range, exceeds HK $138 billion.
The size of the exchange fund is like billions of dollars. Considering the emergency situations such as the misappropriation of the government's finances, it is not easy to deal with the currency contraction aimed at curbing the depreciation of the Hong Kong dollar. It is not surprising that Peng Lizhi and others have an excuse to oppose it.
In the final analysis, the pressure of life and death did not come to the head, and all kinds of statements can stand.
Seeing that Sir Gao complained openly, Xia Dingji quickly comforted him: "I think it is an old and prudent progress to expand the scope to Standard Chartered Bank first. In this way, we can detect how Sir Gao's model actually performs in an environment not under Sir Gao's direct leadership."
Gao Xian nodded. It is not unacceptable for him to slowly grind forward and the Hong Kong government to retreat. Most of the real games are entangled. What's more, can't you afford it?
"In the ten years since Sir Xia Dingji served as the financial secretary, the financial industry in Xiangjiang has developed rapidly. Sir Xia Dingji and I have also got along well and become good friends without saying anything." after Gao Xian summarized his friendship with Xia Dingji, the conversation changed: "I hope that after taking office, Mr. Peng Lizhi can inherit the solid foundation left by Sir Xia Dingji, so that the financial secretary's work can be wholeheartedly supported by the banking sector."
"I'll remind Peng Lizhi." Xia Dingji's smile is slightly complex. On the one hand, it's dark and cool. Sir Gao's words show that the financial secretary can't leave him. On the other hand, he's vaguely worried that the relationship between Sir Gao and Peng Lizhi doesn't seem to be so harmonious.
You should know that the resistance to the operation of Gaoxian through the Hong Kong dollar exchange rate review committee this time mainly comes from the Hong Kong government. Members of the Executive Committee of the Hong Kong Association of banks, including Huifeng bank and Standard Chartered Bank, are happy to see the implementation of the currency board system driven by Bank arbitrage and competition.
In this case, jazz Gao, who has great energy, has a momentum of cheering and gathering responders.
Moreover, one thing can not be ignored. Huifeng bank has failed to acquire Royal Bank of Scotland because it is the quasi Central Bank of Xiangjiang and then tied to the fate of Xiangjiang. However, it has been busy in vain. Its attitude has become somewhat subtle and seems to have the idea of "decentralization".
After the two kinds of assistance are superimposed, sir Gao's position in Xiangjiang's financial sector becomes more and more prominent. If Peng Lizhi doesn't look at it, he will inevitably create contradictions.
……
PS: bow and thank book friends: chhtm1977, Zhao Yuanxi's reward!!
Facts have proved that Gao Xian really doesn't spend a gentleman's belly with a villain's heart.With the commencement of the work of the Hong Kong dollar exchange rate review committee, the high string improved currency board system gradually fully surfaced. Some members who had to be invited finally expressed their views and voiced their opposition. In particular, the attitude of the financial secretary designate, Mr Patrick Pang, was the most clear. "The government cannot stabilize the Hong Kong dollar exchange rate at any specific level, and the market is the factor."In the coming July, the current financial secretary of the Hong Kong government, Xia Dingji, will be promoted to the Chief Secretary of the Hong Kong government, and the financial secretary designate, Peng Lizhi, will become the official financial secretary. Therefore, his attitude almost represents that of the next financial secretary.Peng Lizhi's upcoming appointment as the financial secretary of the Hong Kong government will break a history, that is, the first financial secretary who has not been a civil servant of the Hong Kong government so far.So, where did Peng Lizhi suddenly "emerge"?The answer is thought-provoking. It involves the coping strategies of major British interest groups in Xiangjiang in the current uncertain environment. Peng Lizhi belongs to the talent sequence of relatively low-key Swire Group's external "export".Just last year, Peng Lizhi was also the chairman of the board of directors of Guotai Airlines Co., Ltd. and Swire Pacific Co., Ltd. in addition, Peng Lizhi was a senior senior employee of Swire Group. He retired from the army after the end of World War II and joined Swire Group.Gao Xian remained silent about this. After all, the Hong Kong dollar exchange rate review committee is a platform tailored by him for the improved currency board system. In order to reflect brainstorming, of course, he should let the other party say it casually.Of course, Gao Xian secretly touched the details of Peng Lizhi, for example, chatting with Xia Dingji, who is about to become the former financial secretary.Xia Dingji is preparing for his appointment as chief secretary. He is very good at dealing with the current work of the financial secretary. On the one hand, he is very enthusiastic about taking part of the money from the exchange fund to Gaoyi investment value-added, and has almost promoted it. On the other hand, he has never made a clear statement on the reform of monetary policy. At most, he can mention to the outside world that the ongoing attempts of banks are very constructive, However, it is of great importance and still needs further investigation."The reform of the Hong Kong dollar exchange rate can not be achieved overnight. Let's leave it to the next financial secretary for overall planning." Xia Dingji, who is about to step down as financial secretary and be promoted to Chief Secretary, finally paid the end to Gao Xian. Although it is very sophisticated, it is not surprising. After all, if he now promotes the reform of the Hong Kong dollar exchange rate, it is equivalent to forcibly assigning homework to the next term, and the effect is not necessarily good.Seeing Sir Gao frown slightly, Xia Dingji pulled back his words and said, "of course, the Zhengfu will not put the report to be formed by the Hong Kong dollar exchange rate Review Committee on the shelf. After all, if the Hong Kong dollar depreciates again, the Hong Kong economy will not be able to bear it, which will make me even more headache."Gao Xian pondered: "at least clarify the degree of adoption. For example, Huifeng bank, Standard Chartered Bank and favorable bank all try out the internal exchange rate with the exchange fund. Anyway, they will set the upper limit of transactions.""There is still a risk of hollowing out the exchange fund, and Huifeng bank can't join in." Xia Dingji waved his hand again and again. "Sir Gao, from the prototype of the report to be formed by the Hong Kong dollar exchange rate review committee, the driving force comes from bank arbitrage and competition. Huifeng bank is too large, accounting for more than 75% of the issuance of Hong Kong dollar cash alone."Gao Xian shrugged. "If Zhengfu has been so forward-looking and hesitant, the hidden danger of Xiangjiang economy will only deepen day by day. When it breaks out, it will be more difficult to solve it!"In fact, although Gao Xian complained so much, he knew Xia Dingji's concerns like the back of his hand.To put it simply, it is only 1981 and the degree of globalization is limited. The concept of foreign exchange reserves has been around for some years, but the degree of attention paid to it is also limited. The size of Xiangjiang's exchange fund is far less than that in the "old script" during the Asian financial crisis.During the period when the Hong Kong dollar was pegged to the British pound, Xiangjiang's foreign exchange fund was kept in the settlement bank in London, England, which helped Xiangjiang, who entered the Pacific war stage in the Second World War and was involved in the war, avoid the bad luck that the foreign exchange fund was robbed by a book, and the Xiangjiang economic system, which was almost completely destroyed after being driven away, mainly relied on this foreign exchange fund, Step by step to recover.However, after the collapse of the Bretton Woods system, Britain's economic strength could not cover its younger brothers. They all sharpened their heads and sought to join the European economic community. The Hong Kong government had to decouple the Hong Kong dollar from the British pound and instead aim at the US dollar. As a result, the foreign exchange funds of Xiangjiang were moved from London to Xiangjiang, and then the British pound in the foreign exchange fund was changed into US dollars, Wait a series of operations, that's called a toss!As a result, it is much more convenient for the Hong Kong government to use the exchange fund to affect the exchange rate of the Hong Kong dollar, including meeting the financial needs of the government. From 1975 to 1976, the Hong Kong government will no longer announce the surplus of the exchange fund.On the other hand, last year, in 1980, Hong Kong's money supply M1, that is, the legal tender held by the public, including Hong Kong dollar notes and coins, plus the demand deposits of licensed bank customers, exceeded HK $24 billion; M2 covers a wider range, exceeding HK $96 billion; M3, which covers the widest range, exceeds HK $138 billion.The size of the exchange fund is like billions of dollars. Considering the emergency situations such as the misappropriation of the government's finances, it is not easy to deal with the currency contraction aimed at curbing the depreciation of the Hong Kong dollar. It is not surprising that Peng Lizhi and others have an excuse to oppose it.In the final analysis, the pressure of life and death did not come to the head, and all kinds of statements can stand.Seeing that Sir Gao complained openly, Xia Dingji quickly comforted him: "I think it is an old and prudent progress to expand the scope to Standard Chartered Bank first. In this way, we can detect how Sir Gao's model actually performs in an environment not under Sir Gao's direct leadership."Gao Xian nodded. It is not unacceptable for him to slowly grind forward and the Hong Kong government to retreat. Most of the real games are entangled. What's more, can't you afford it?"In the ten years since Sir Xia Dingji served as the financial secretary, the financial industry in Xiangjiang has developed rapidly. Sir Xia Dingji and I have also got along well and become good friends without saying anything." after Gao Xian summarized his friendship with Xia Dingji, the conversation changed: "I hope that after taking office, Mr. Peng Lizhi can inherit the solid foundation left by Sir Xia Dingji, so that the financial secretary's work can be wholeheartedly supported by the banking sector.""I'll remind Peng Lizhi." Xia Dingji's smile is slightly complex. On the one hand, it's dark and cool. Sir Gao's words show that the financial secretary can't leave him. On the other hand, he's vaguely worried that the relationship between Sir Gao and Peng Lizhi doesn't seem to be so harmonious.You should know that the resistance to the operation of Gaoxian through the Hong Kong dollar exchange rate review committee this time mainly comes from the Hong Kong government. Members of the Executive Committee of the Hong Kong Association of banks, including Huifeng bank and Standard Chartered Bank, are happy to see the implementation of the currency board system driven by Bank arbitrage and competition.In this case, jazz Gao, who has great energy, has a momentum of cheering and gathering responders.Moreover, one thing can not be ignored. Huifeng bank has failed to acquire Royal Bank of Scotland because it is the quasi Central Bank of Xiangjiang and then tied to the fate of Xiangjiang. However, it has been busy in vain. Its attitude has become somewhat subtle and seems to have the idea of "decentralization".After the two kinds of assistance are superimposed, sir Gao's position in Xiangjiang's financial sector becomes more and more prominent. If Peng Lizhi doesn't look at it, he will inevitably create contradictions.PS: bow and thank book friends: chhtm1977, Zhao Yuanxi's reward!!
