Chapter 788
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PS: Happy New Year!
……
Obviously, it is impossible to draw a definite conclusion at the meeting of Xiangjiang Banking Association about the confrontation between the improved currency board system advocated by Sir Gao and the independent operation of the exchange fund.
Anyway, the detailed operation of how to raise interest rates in Xiangjiang banking industry has been specifically formulated. Without delaying the business, we should enjoy a wonderful play for free. Therefore, after the meeting, all people except the quarreling parties had a faint mysterious expression on their faces and hurried to their own things.
It can be seen that a big "melon" torn by Sir Gao and financial secretary Chris Pang will soon be inevitably presented to the public through the media.
Financial Secretary Peng Lizhi took a few steps to catch up with Hui Feng's class Shen Bi and asked the other party why he had not kept his promise and helped himself suppress Gao Xian's arrogance at the meeting.
As a result, Shen Bi replied faintly, "I suddenly feel that it is more important to understand Sir Gao's real intention."
The financial secretary, Peng Lizhi, was so angry at Shen Bi's renegade that he reminded him pointedly: "don't forget, our position is the same."
Shen Bi sighed softly, "although Zhengzhi negotiations can continue to be tough, you saw the reaction of the representatives of banks just now. It's hard to hide their resentment."
Financial Secretary Peng Lizhi could not help but sneer: "I'm afraid Huifeng is going to shake."
Shen Bi glanced at the financial secretary Peng Lizhi, "I also remind you that you'd better consider your situation. Sir Gao obviously cut you, the financial secretary and the government, but accused you of inaction and dereliction of duty. If you still want to keep the position of financial secretary, you really need some skills."
On hearing this, the financial secretary Peng Lizhi became even more angry. "Others don't know, you don't know? Why did I do that? I didn't act according to the meaning of London!"
Shen Bi smiled meaningfully, "sometimes it's the tacit understanding of all parties to calm down the situation to find someone to carry the pot."
Looking at Shen Bi's back, financial secretary Peng Lizhi felt a little cold in his heart. This possibility seems to really exist. Speaking, the position of Financial Secretary of the Hong Kong government has always been selected from senior civil servants, and he was "airborne" from Swire senior executives to the financial secretary, which can be said to set a precedent. It is inevitable to arouse people's concern. Maybe he will be pushed out to be a scapegoat sometime.
……
It is not known to the outside world how complicated financial secretary Peng Lizhi began. The Hong Kong Banking Association acted quickly and quickly announced that the deposit interest rate would be increased by 1.5% from the next day, that is, the savings deposit rate would be 7%.
Not surprisingly, this measure has little practical effect on stabilizing the Hong Kong dollar exchange rate. The Hong Kong dollar exchange rate continues to fall. At most, it only helps small and medium-sized Chinese banks that have just extricated themselves from the banking crisis to temporarily stabilize people's hearts.
Under such circumstances, the news of the public quarrel between Sir Gao and financial secretary Peng Lizhi is particularly eye-catching.
Regarding the media's gossip, financial secretary Peng Lizhi ignored it in his own capacity. Sir Gao, who took the lead in firing, did not respond positively in public. However, a small matter still aroused the public's interest in the public quarrel between Sir Gao and financial secretary Peng Lizhi.
Favorable bank announced that a collection just donated by Sir Gao was published in 1935. The first Hong Kong dollar note in Xiangjiang, numbered A001, was purchased from a London collector with Sir Gao's earlier contribution of HK $50000.
According to the introduction of the favorable bank to the public, this one Hong Kong dollar note is of extraordinary historical significance, because it was in 1935 that the Hong Kong government abolished the use of silver dollars as the note issuing reserve and replaced it with gold and other foreign currencies as the note issuing reserve, that is, when Xiangjiang entered the sterling exchange standard system.
On December 6 of that year, the Exchange Fund Ordinance came into force. According to its provisions, the three note issuing banks in Xiangjiang, Huifeng, Standard Chartered and Yili, when issuing new notes, must pay the equivalent pound sterling to the exchange fund in exchange for the statement of liabilities issued by the exchange fund, and the note issuing banks and the exchange fund shall exchange them at a fixed exchange rate of one pound to 16 Hong Kong dollars.
This was the basic currency board system that prevailed in the British colonies and protectorates at that time, and the sterling exchange standard of Xiangjiang operated until July 6, 1972, when the Hong Kong government announced that the Hong Kong dollar was decoupled from the British pound, except for the years when a Book occupied Xiangjiang after the outbreak of the Pacific War during World War II.
The bank note issuance Ordinance, which came into force at the same time, stipulates that Hong Kong dollar notes issued by Huifeng, Standard Chartered and Yili are the legal tender of Xiangjiang.
In addition, the one dollar note currency Ordinance was promulgated, and the then Secretary for the Treasury was authorized by the Hong Kong government to issue one dollar notes and two kinds of coins, one cent and five cents, in order to maintain the supply of small denomination money and avoid sudden deflation and affect the stability of the financial market.
The one Hong Kong dollar note numbered A001 donated by Sir Gao to the advantageous bank was the first one Hong Kong dollar note issued by the Hong Kong government at that time.
……
The media had already inquired about the public quarrel between Sir Gao and financial secretary Peng Lizhi. After learning about the news about the favorable bank, reporters immediately flocked to see the first Hong Kong dollar note in Xiangjiang in the showroom.
In this regard, the favorable bank arranged special personnel to receive patiently. Even Chen Zuze, general manager of the favorable bank, took time out of his busy schedule and personally served as an on-site explanation.
Naturally, a reporter asked curiously whether Sir Gao spent HK $50000 on the first one Hong Kong dollar note in Xiangjiang. Does that mean that the one Hong Kong dollar note issued nearly 50 years ago is equivalent to HK $50000 now? If so, it would be amazing!
Chen Zuze was amused, "The 50000 Hong Kong dollars reflects the collection value of the collection, such as historical significance. According to Gao Yi's accounting, in terms of actual purchasing power, the one Hong Kong dollar issued in 1935 is equivalent to more than 400 Hong Kong dollars now. Of course, if the Hong Kong dollar continues to depreciate, its corresponding purchasing power will increase accordingly."
……
Finance and economics majors only account for a part of the reporters, and they may not all be able to accurately understand the real ways in the financial circle. In addition, everyone scrambled to send news, so many specious and eye-catching reports began to rush forward.
For example, in less than 50 years, the Hong Kong dollar has depreciated 400 times. Even reporters went to ask their 70-80-year-old grandparents to verify the situation in that year, and the answers were all without exception. The money at that time was really valuable.
Anyway, now people are concerned about the devaluation of the Hong Kong dollar. Newspapers can sell out as long as they have relevant reports. Whether it is true or false, right or wrong, just send it. This makes serious people cry and laugh, but more ordinary people are stimulated and become more sensitive to the Hong Kong dollar exchange rate. Naturally, they pay more attention. Why are Baron Gao and financial secretary Peng Lizhi arguing? What are they arguing about?
Please report us if you find any errors so we can fix it asap!
PS: Happy New Year!
……
Obviously, it is impossible to draw a definite conclusion at the meeting of Xiangjiang Banking Association about the confrontation between the improved currency board system advocated by Sir Gao and the independent operation of the exchange fund.
Anyway, the detailed operation of how to raise interest rates in Xiangjiang banking industry has been specifically formulated. Without delaying the business, we should enjoy a wonderful play for free. Therefore, after the meeting, all people except the quarreling parties had a faint mysterious expression on their faces and hurried to their own things.
It can be seen that a big "melon" torn by Sir Gao and financial secretary Chris Pang will soon be inevitably presented to the public through the media.
Financial Secretary Peng Lizhi took a few steps to catch up with Hui Feng's class Shen Bi and asked the other party why he had not kept his promise and helped himself suppress Gao Xian's arrogance at the meeting.
As a result, Shen Bi replied faintly, "I suddenly feel that it is more important to understand Sir Gao's real intention."
The financial secretary, Peng Lizhi, was so angry at Shen Bi's renegade that he reminded him pointedly: "don't forget, our position is the same."
Shen Bi sighed softly, "although Zhengzhi negotiations can continue to be tough, you saw the reaction of the representatives of banks just now. It's hard to hide their resentment."
Financial Secretary Peng Lizhi could not help but sneer: "I'm afraid Huifeng is going to shake."
Shen Bi glanced at the financial secretary Peng Lizhi, "I also remind you that you'd better consider your situation. Sir Gao obviously cut you, the financial secretary and the government, but accused you of inaction and dereliction of duty. If you still want to keep the position of financial secretary, you really need some skills."
On hearing this, the financial secretary Peng Lizhi became even more angry. "Others don't know, you don't know? Why did I do that? I didn't act according to the meaning of London!"
Shen Bi smiled meaningfully, "sometimes it's the tacit understanding of all parties to calm down the situation to find someone to carry the pot."
Looking at Shen Bi's back, financial secretary Peng Lizhi felt a little cold in his heart. This possibility seems to really exist. Speaking, the position of Financial Secretary of the Hong Kong government has always been selected from senior civil servants, and he was "airborne" from Swire senior executives to the financial secretary, which can be said to set a precedent. It is inevitable to arouse people's concern. Maybe he will be pushed out to be a scapegoat sometime.
……
It is not known to the outside world how complicated financial secretary Peng Lizhi began. The Hong Kong Banking Association acted quickly and quickly announced that the deposit interest rate would be increased by 1.5% from the next day, that is, the savings deposit rate would be 7%.
Not surprisingly, this measure has little practical effect on stabilizing the Hong Kong dollar exchange rate. The Hong Kong dollar exchange rate continues to fall. At most, it only helps small and medium-sized Chinese banks that have just extricated themselves from the banking crisis to temporarily stabilize people's hearts.
Under such circumstances, the news of the public quarrel between Sir Gao and financial secretary Peng Lizhi is particularly eye-catching.
Regarding the media's gossip, financial secretary Peng Lizhi ignored it in his own capacity. Sir Gao, who took the lead in firing, did not respond positively in public. However, a small matter still aroused the public's interest in the public quarrel between Sir Gao and financial secretary Peng Lizhi.
Favorable bank announced that a collection just donated by Sir Gao was published in 1935. The first Hong Kong dollar note in Xiangjiang, numbered A001, was purchased from a London collector with Sir Gao's earlier contribution of HK $50000.
According to the introduction of the favorable bank to the public, this one Hong Kong dollar note is of extraordinary historical significance, because it was in 1935 that the Hong Kong government abolished the use of silver dollars as the note issuing reserve and replaced it with gold and other foreign currencies as the note issuing reserve, that is, when Xiangjiang entered the sterling exchange standard system.
On December 6 of that year, the Exchange Fund Ordinance came into force. According to its provisions, the three note issuing banks in Xiangjiang, Huifeng, Standard Chartered and Yili, when issuing new notes, must pay the equivalent pound sterling to the exchange fund in exchange for the statement of liabilities issued by the exchange fund, and the note issuing banks and the exchange fund shall exchange them at a fixed exchange rate of one pound to 16 Hong Kong dollars.
This was the basic currency board system that prevailed in the British colonies and protectorates at that time, and the sterling exchange standard of Xiangjiang operated until July 6, 1972, when the Hong Kong government announced that the Hong Kong dollar was decoupled from the British pound, except for the years when a Book occupied Xiangjiang after the outbreak of the Pacific War during World War II.
The bank note issuance Ordinance, which came into force at the same time, stipulates that Hong Kong dollar notes issued by Huifeng, Standard Chartered and Yili are the legal tender of Xiangjiang.
In addition, the one dollar note currency Ordinance was promulgated, and the then Secretary for the Treasury was authorized by the Hong Kong government to issue one dollar notes and two kinds of coins, one cent and five cents, in order to maintain the supply of small denomination money and avoid sudden deflation and affect the stability of the financial market.
The one Hong Kong dollar note numbered A001 donated by Sir Gao to the advantageous bank was the first one Hong Kong dollar note issued by the Hong Kong government at that time.
……
The media had already inquired about the public quarrel between Sir Gao and financial secretary Peng Lizhi. After learning about the news about the favorable bank, reporters immediately flocked to see the first Hong Kong dollar note in Xiangjiang in the showroom.
In this regard, the favorable bank arranged special personnel to receive patiently. Even Chen Zuze, general manager of the favorable bank, took time out of his busy schedule and personally served as an on-site explanation.
Naturally, a reporter asked curiously whether Sir Gao spent HK $50000 on the first one Hong Kong dollar note in Xiangjiang. Does that mean that the one Hong Kong dollar note issued nearly 50 years ago is equivalent to HK $50000 now? If so, it would be amazing!
Chen Zuze was amused, "The 50000 Hong Kong dollars reflects the collection value of the collection, such as historical significance. According to Gao Yi's accounting, in terms of actual purchasing power, the one Hong Kong dollar issued in 1935 is equivalent to more than 400 Hong Kong dollars now. Of course, if the Hong Kong dollar continues to depreciate, its corresponding purchasing power will increase accordingly."
……
Finance and economics majors only account for a part of the reporters, and they may not all be able to accurately understand the real ways in the financial circle. In addition, everyone scrambled to send news, so many specious and eye-catching reports began to rush forward.
For example, in less than 50 years, the Hong Kong dollar has depreciated 400 times. Even reporters went to ask their 70-80-year-old grandparents to verify the situation in that year, and the answers were all without exception. The money at that time was really valuable.
Anyway, now people are concerned about the devaluation of the Hong Kong dollar. Newspapers can sell out as long as they have relevant reports. Whether it is true or false, right or wrong, just send it. This makes serious people cry and laugh, but more ordinary people are stimulated and become more sensitive to the Hong Kong dollar exchange rate. Naturally, they pay more attention. Why are Baron Gao and financial secretary Peng Lizhi arguing? What are they arguing about?
PS: Happy New Year!Obviously, it is impossible to draw a definite conclusion at the meeting of Xiangjiang Banking Association about the confrontation between the improved currency board system advocated by Sir Gao and the independent operation of the exchange fund.Anyway, the detailed operation of how to raise interest rates in Xiangjiang banking industry has been specifically formulated. Without delaying the business, we should enjoy a wonderful play for free. Therefore, after the meeting, all people except the quarreling parties had a faint mysterious expression on their faces and hurried to their own things.It can be seen that a big "melon" torn by Sir Gao and financial secretary Chris Pang will soon be inevitably presented to the public through the media.Financial Secretary Peng Lizhi took a few steps to catch up with Hui Feng's class Shen Bi and asked the other party why he had not kept his promise and helped himself suppress Gao Xian's arrogance at the meeting.As a result, Shen Bi replied faintly, "I suddenly feel that it is more important to understand Sir Gao's real intention."The financial secretary, Peng Lizhi, was so angry at Shen Bi's renegade that he reminded him pointedly: "don't forget, our position is the same."Shen Bi sighed softly, "although Zhengzhi negotiations can continue to be tough, you saw the reaction of the representatives of banks just now. It's hard to hide their resentment."Financial Secretary Peng Lizhi could not help but sneer: "I'm afraid Huifeng is going to shake."Shen Bi glanced at the financial secretary Peng Lizhi, "I also remind you that you'd better consider your situation. Sir Gao obviously cut you, the financial secretary and the government, but accused you of inaction and dereliction of duty. If you still want to keep the position of financial secretary, you really need some skills."On hearing this, the financial secretary Peng Lizhi became even more angry. "Others don't know, you don't know? Why did I do that? I didn't act according to the meaning of London!"Shen Bi smiled meaningfully, "sometimes it's the tacit understanding of all parties to calm down the situation to find someone to carry the pot."Looking at Shen Bi's back, financial secretary Peng Lizhi felt a little cold in his heart. This possibility seems to really exist. Speaking, the position of Financial Secretary of the Hong Kong government has always been selected from senior civil servants, and he was "airborne" from Swire senior executives to the financial secretary, which can be said to set a precedent. It is inevitable to arouse people's concern. Maybe he will be pushed out to be a scapegoat sometime.It is not known to the outside world how complicated financial secretary Peng Lizhi began. The Hong Kong Banking Association acted quickly and quickly announced that the deposit interest rate would be increased by 1.5% from the next day, that is, the savings deposit rate would be 7%.Not surprisingly, this measure has little practical effect on stabilizing the Hong Kong dollar exchange rate. The Hong Kong dollar exchange rate continues to fall. At most, it only helps small and medium-sized Chinese banks that have just extricated themselves from the banking crisis to temporarily stabilize people's hearts.Under such circumstances, the news of the public quarrel between Sir Gao and financial secretary Peng Lizhi is particularly eye-catching.Regarding the media's gossip, financial secretary Peng Lizhi ignored it in his own capacity. Sir Gao, who took the lead in firing, did not respond positively in public. However, a small matter still aroused the public's interest in the public quarrel between Sir Gao and financial secretary Peng Lizhi.Favorable bank announced that a collection just donated by Sir Gao was published in 1935. The first Hong Kong dollar note in Xiangjiang, numbered A001, was purchased from a London collector with Sir Gao's earlier contribution of HK $50000.According to the introduction of the favorable bank to the public, this one Hong Kong dollar note is of extraordinary historical significance, because it was in 1935 that the Hong Kong government abolished the use of silver dollars as the note issuing reserve and replaced it with gold and other foreign currencies as the note issuing reserve, that is, when Xiangjiang entered the sterling exchange standard system.On December 6 of that year, the Exchange Fund Ordinance came into force. According to its provisions, the three note issuing banks in Xiangjiang, Huifeng, Standard Chartered and Yili, when issuing new notes, must pay the equivalent pound sterling to the exchange fund in exchange for the statement of liabilities issued by the exchange fund, and the note issuing banks and the exchange fund shall exchange them at a fixed exchange rate of one pound to 16 Hong Kong dollars.This was the basic currency board system that prevailed in the British colonies and protectorates at that time, and the sterling exchange standard of Xiangjiang operated until July 6, 1972, when the Hong Kong government announced that the Hong Kong dollar was decoupled from the British pound, except for the years when a Book occupied Xiangjiang after the outbreak of the Pacific War during World War II.The bank note issuance Ordinance, which came into force at the same time, stipulates that Hong Kong dollar notes issued by Huifeng, Standard Chartered and Yili are the legal tender of Xiangjiang.In addition, the one dollar note currency Ordinance was promulgated, and the then Secretary for the Treasury was authorized by the Hong Kong government to issue one dollar notes and two kinds of coins, one cent and five cents, in order to maintain the supply of small denomination money and avoid sudden deflation and affect the stability of the financial market.The one Hong Kong dollar note numbered A001 donated by Sir Gao to the advantageous bank was the first one Hong Kong dollar note issued by the Hong Kong government at that time.The media had already inquired about the public quarrel between Sir Gao and financial secretary Peng Lizhi. After learning about the news about the favorable bank, reporters immediately flocked to see the first Hong Kong dollar note in Xiangjiang in the showroom.In this regard, the favorable bank arranged special personnel to receive patiently. Even Chen Zuze, general manager of the favorable bank, took time out of his busy schedule and personally served as an on-site explanation.Naturally, a reporter asked curiously whether Sir Gao spent HK $50000 on the first one Hong Kong dollar note in Xiangjiang. Does that mean that the one Hong Kong dollar note issued nearly 50 years ago is equivalent to HK $50000 now? If so, it would be amazing!Chen Zuze was amused, "The 50000 Hong Kong dollars reflects the collection value of the collection, such as historical significance. According to Gao Yi's accounting, in terms of actual purchasing power, the one Hong Kong dollar issued in 1935 is equivalent to more than 400 Hong Kong dollars now. Of course, if the Hong Kong dollar continues to depreciate, its corresponding purchasing power will increase accordingly."Finance and economics majors only account for a part of the reporters, and they may not all be able to accurately understand the real ways in the financial circle. In addition, everyone scrambled to send news, so many specious and eye-catching reports began to rush forward.For example, in less than 50 years, the Hong Kong dollar has depreciated 400 times. Even reporters went to ask their 70-80-year-old grandparents to verify the situation in that year, and the answers were all without exception. The money at that time was really valuable.Anyway, now people are concerned about the devaluation of the Hong Kong dollar. Newspapers can sell out as long as they have relevant reports. Whether it is true or false, right or wrong, just send it. This makes serious people cry and laugh, but more ordinary people are stimulated and become more sensitive to the Hong Kong dollar exchange rate. Naturally, they pay more attention. Why are Baron Gao and financial secretary Peng Lizhi arguing? What are they arguing about?
