Chapter 634
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In addition to discussing how to make Heji "obedient", Gao Xian and Li Bancheng naturally exchanged some information.
"Recently, sir Shen Bi privately revealed that the banking industry has the possibility of raising interest rates." Li Bancheng said casually.
At this stage, if a bank wants to obtain the qualification for normal operation in Xiangjiang, it needs to obtain a license, join the Xiangjiang Bank Association and accept the constraints including the agreed interest rate.
The so-called constraints are not mere words on paper. After several banking crises, the authority of Xiangjiang Banking Association has grown to be no joke. Anyone who thinks that business is free and engages in tricks such as attracting deposits at ultra-low interest rates will first be kicked out of the Xiangjiang bill settlement system. It's like breaking a leg if you can't do bills of exchange, checks, promissory notes and so on.
The chairman of Xiangjiang banking association is held by Huifeng bank and Standard Chartered Bank in turn. In fact, Huifeng bank, the quasi Central Bank of Xiangjiang, has the final say.
In this case, Shen Bi's tone of Huifeng bank represents a trend to a great extent.
Gao Xian is not surprised by this, because in the face of thorny problems, the solutions available are often the same.
Xiangjiang's real estate industry and stock market reflect each other. Chenghui's hot market does not mean how healthy Xiangjiang's economy is, but just reflects the hidden worries in front of us.
According to Gao Yi's market research, last year, that is, at the end of 1980, there was no difference in commercial land in Xiangjiang real estate industry. But industrial land has declined.
If we say that this is related to the industrial shrinkage in the economic restructuring of Xiangjiang, the housing that gives the public the most direct feeling is very close to the extreme.
To illustrate with data, the average monthly income of Xiangjiang citizens' families is about HK $3000, and the most popular small residential unit with an area of 400 square feet has a price of more than HK $1000 per square foot. That is, the money required to buy such a small residential unit is equivalent to the money saved by ordinary people for more than 100 months without eating or drinking.
Further data relate to the vacancy rate of new residential units in 1980. Different people have different opinions on this issue. In Gao Yi's report to Gao Xian, the result is 41.3%.
From the perspective of the real estate industry of Xiangjiang to the whole economic system of Xiangjiang, the inflation has reached double digits, which is no different from that of the United States, but no matter how prosperous the economy of Xiangjiang is, it is known as one of the "four little dragons of Asia". But after all, it is a small place with limited volume. It is relatively difficult to cover up the seriousness of the problem. However, once the real estate and stock market officially enter the downward cycle, there will be no fig leaf.
One of the main reasons for the high inflation in Xiangjiang is the real estate industry. The reason is obvious. Buildings are built everywhere, and most of the required building materials depend on imports, thus "contributing" to the trade deficit.
This involves another important issue. The Hong Kong dollar, which fluctuates with the US dollar, is soft because of the increase of Xiangjiang's trade deficit.
Then raise the perspective from Xiangjiang to the world. In order to control inflation in the United States, the measures taken by the Federal Reserve are a bit like shock therapy, constantly raising bank interest rates, which are almost 20%.
As a result, a new speculative business, which Gao Xian prefers to call risk arbitrage, has emerged, that is, the arbitrage between the Hong Kong dollar and the European dollar.
In fact, the US dollar has become the world currency, and there are a large number of US dollars outside the United States, known as the European dollar. The name does not mean European dollars, but traces back to PS: bow and thank book friends: reward in ambush!!
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In addition to discussing how to make Heji "obedient", Gao Xian and Li Bancheng naturally exchanged some information.
"Recently, sir Shen Bi privately revealed that the banking industry has the possibility of raising interest rates." Li Bancheng said casually.
At this stage, if a bank wants to obtain the qualification for normal operation in Xiangjiang, it needs to obtain a license, join the Xiangjiang Bank Association and accept the constraints including the agreed interest rate.
The so-called constraints are not mere words on paper. After several banking crises, the authority of Xiangjiang Banking Association has grown to be no joke. Anyone who thinks that business is free and engages in tricks such as attracting deposits at ultra-low interest rates will first be kicked out of the Xiangjiang bill settlement system. It's like breaking a leg if you can't do bills of exchange, checks, promissory notes and so on.
The chairman of Xiangjiang banking association is held by Huifeng bank and Standard Chartered Bank in turn. In fact, Huifeng bank, the quasi Central Bank of Xiangjiang, has the final say.
In this case, Shen Bi's tone of Huifeng bank represents a trend to a great extent.
Gao Xian is not surprised by this, because in the face of thorny problems, the solutions available are often the same.
Xiangjiang's real estate industry and stock market reflect each other. Chenghui's hot market does not mean how healthy Xiangjiang's economy is, but just reflects the hidden worries in front of us.
According to Gao Yi's market research, last year, that is, at the end of 1980, there was no difference in commercial land in Xiangjiang real estate industry. But industrial land has declined.
If we say that this is related to the industrial shrinkage in the economic restructuring of Xiangjiang, the housing that gives the public the most direct feeling is very close to the extreme.
To illustrate with data, the average monthly income of Xiangjiang citizens' families is about HK $3000, and the most popular small residential unit with an area of 400 square feet has a price of more than HK $1000 per square foot. That is, the money required to buy such a small residential unit is equivalent to the money saved by ordinary people for more than 100 months without eating or drinking.
Further data relate to the vacancy rate of new residential units in 1980. Different people have different opinions on this issue. In Gao Yi's report to Gao Xian, the result is 41.3%.
From the perspective of the real estate industry of Xiangjiang to the whole economic system of Xiangjiang, the inflation has reached double digits, which is no different from that of the United States, but no matter how prosperous the economy of Xiangjiang is, it is known as one of the "four little dragons of Asia". But after all, it is a small place with limited volume. It is relatively difficult to cover up the seriousness of the problem. However, once the real estate and stock market officially enter the downward cycle, there will be no fig leaf.
One of the main reasons for the high inflation in Xiangjiang is the real estate industry. The reason is obvious. Buildings are built everywhere, and most of the required building materials depend on imports, thus "contributing" to the trade deficit.
This involves another important issue. The Hong Kong dollar, which fluctuates with the US dollar, is soft because of the increase of Xiangjiang's trade deficit.
Then raise the perspective from Xiangjiang to the world. In order to control inflation in the United States, the measures taken by the Federal Reserve are a bit like shock therapy, constantly raising bank interest rates, which are almost 20%.
As a result, a new speculative business, which Gao Xian prefers to call risk arbitrage, has emerged, that is, the arbitrage between the Hong Kong dollar and the European dollar.
In fact, the US dollar has become the world currency, and there are a large number of US dollars outside the United States, known as the European dollar. The name does not mean European dollars, but traces back to PS: bow and thank book friends: reward in ambush!!
In addition to discussing how to make Heji "obedient", Gao Xian and Li Bancheng naturally exchanged some information."Recently, sir Shen Bi privately revealed that the banking industry has the possibility of raising interest rates." Li Bancheng said casually.At this stage, if a bank wants to obtain the qualification for normal operation in Xiangjiang, it needs to obtain a license, join the Xiangjiang Bank Association and accept the constraints including the agreed interest rate.The so-called constraints are not mere words on paper. After several banking crises, the authority of Xiangjiang Banking Association has grown to be no joke. Anyone who thinks that business is free and engages in tricks such as attracting deposits at ultra-low interest rates will first be kicked out of the Xiangjiang bill settlement system. It's like breaking a leg if you can't do bills of exchange, checks, promissory notes and so on.The chairman of Xiangjiang banking association is held by Huifeng bank and Standard Chartered Bank in turn. In fact, Huifeng bank, the quasi Central Bank of Xiangjiang, has the final say.In this case, Shen Bi's tone of Huifeng bank represents a trend to a great extent.Gao Xian is not surprised by this, because in the face of thorny problems, the solutions available are often the same.Xiangjiang's real estate industry and stock market reflect each other. Chenghui's hot market does not mean how healthy Xiangjiang's economy is, but just reflects the hidden worries in front of us.According to Gao Yi's market research, last year, that is, at the end of 1980, there was no difference in commercial land in Xiangjiang real estate industry. But industrial land has declined.If we say that this is related to the industrial shrinkage in the economic restructuring of Xiangjiang, the housing that gives the public the most direct feeling is very close to the extreme.To illustrate with data, the average monthly income of Xiangjiang citizens' families is about HK $3000, and the most popular small residential unit with an area of 400 square feet has a price of more than HK $1000 per square foot. That is, the money required to buy such a small residential unit is equivalent to the money saved by ordinary people for more than 100 months without eating or drinking.Further data relate to the vacancy rate of new residential units in 1980. Different people have different opinions on this issue. In Gao Yi's report to Gao Xian, the result is 41.3%.From the perspective of the real estate industry of Xiangjiang to the whole economic system of Xiangjiang, the inflation has reached double digits, which is no different from that of the United States, but no matter how prosperous the economy of Xiangjiang is, it is known as one of the "four little dragons of Asia". But after all, it is a small place with limited volume. It is relatively difficult to cover up the seriousness of the problem. However, once the real estate and stock market officially enter the downward cycle, there will be no fig leaf.One of the main reasons for the high inflation in Xiangjiang is the real estate industry. The reason is obvious. Buildings are built everywhere, and most of the required building materials depend on imports, thus "contributing" to the trade deficit.This involves another important issue. The Hong Kong dollar, which fluctuates with the US dollar, is soft because of the increase of Xiangjiang's trade deficit.Then raise the perspective from Xiangjiang to the world. In order to control inflation in the United States, the measures taken by the Federal Reserve are a bit like shock therapy, constantly raising bank interest rates, which are almost 20%.As a result, a new speculative business, which Gao Xian prefers to call risk arbitrage, has emerged, that is, the arbitrage between the Hong Kong dollar and the European dollar.In fact, the US dollar has become the world currency, and there are a large number of US dollars outside the United States, known as the European dollar. The name does not mean European dollars, but traces back to PS: bow and thank book friends: reward in ambush!!
