Chapter 877
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Xiangjiang's position as an international financial center is difficult to form a specific concept for impatient people outside the profession and circle. After all, it's easier to criticize Xiangjiang's abnormal cognition of engaging in real estate.
From the perspective of financial derivatives, in the "old script", the game between big countries has entered an intense stage decades later. The number of structural financial derivatives in Xiangjiang capital market is as high as 10000, ranking first in the world, and the average daily transaction amount is HK $13.8 billion.
Middy wanted to engage in China's three major communication operators, so the three major investment banks in the United States withdrew hundreds of related financial derivatives operating in Xiangjiang.
In this regard, HKEx's statement is very calm to the effect that Xiangjiang's status as an international financial center will not be affected. You should revoke it in accordance with the procedures.
Xiangjiang's magnificent scale of financial derivatives began in the mid-1980s and spread rapidly.
In terms of the development of the global capital market, financial derivatives have also just begun to rise, and Xiangjiang can be regarded as synchronized with the world.
Take stock index futures, the most well-known example of financial derivatives. The year before last, that is, 1982, the Chicago Mercantile Exchange of the United States "developed" this new heavyweight financial weapon.
It is not difficult to understand that everything has a degree, too much is better than less; At the same time, everything has two sides.
The financial derivatives designed from the genius head of the capital elite are a double-edged sword. If used well, they really enhance the financial vitality; But it is often easier to play rotten and be backfired.
Therefore, in the United States, Britain, yiben, Singapore and other countries with developed financial industry, the supervision of financial derivatives is quite serious. Not all kinds of financial derivatives will be approved.
And Xiangjiang, now that we have entered the transition period, there is no need to analyze the subtle thoughts of the ghost guy. Everyone knows.
When Gao Xian heard that the final "two in one" merger of Xiangjiang stock exchange also began to speed up, and the obstruction of the ghost guy was further weakened, he was completely sure that the subtle mind of the ghost guy was just like this, and he wanted to make the best use of this situation as much as possible to strive for the control of Xiangjiang finance.
Where capital is powerful, it is to directly attack human greed, lure it with profit and drive it with profit. Whoever remains unmoved, who is different and attacked by the crowd.
Gao Xian will certainly not push himself into a place of eternal disaster, and there is no need at all. As long as he adapts to the time, takes the initiative, completes the top-level design, and reduces the side effects as much as possible, he will realize his ambition.
Now, Gao Xian doesn't want to take the initiative to promote financial derivatives such as stock index futures, because if he can save energy, the ghost guys will become enthusiastic. Anyway, in the end, he can't bypass the platform of Xiangjiang futures exchange. Why don't we see if it can become a half push trading chip.
Therefore, at this time, Gao Xian's attention is focused on real estate mortgage-backed securities. This thing has been running in the capital market in the United States for more than ten years. It has only implemented US stock index futures for two or three years than the Chicago commercial exchange in the United States, and has accumulated more experience. The researchers in his circle have done almost the same research. It's time to move to the implementation stage.
It is necessary to talk about the negative effects first. Take out the mortgage loans of residential and commercial real estate in the bank and put them in a "pool" and carefully design them into bonds. If they fail, they will bury a bomb like the subprime mortgage crisis.
But then again, in the environment of Xiangjiang, real estate mortgage-backed securities will appear sooner or later. It's better to take the initiative, do a good job in the top-level design and give full play to its positive role as much as possible.
As for the negative effects, after all, the volume of Xiangjiang can not be compared with the huge United States. In addition, it should be completely controllable to strictly review the advantages and disadvantages of mortgage loans.
In contrast, the positive role of real estate mortgage-backed securities is too attractive to Gaoxian. The development of Xiangjiang's second mortgage market is only the most superficial surface.
From the perspective of the Xiangjiang exchange fund authority, the credit scale of Xiangjiang can be expanded without deliberately issuing additional Hong Kong dollars, which is very important for the upcoming prosperity of the Xiangjiang market.
From the perspective of banks, the increase of available funds and the stability against the banking crisis are guaranteed.
From the point of view of the real estate industry, this is not a kind of influence, such as the means of restraining bubbles.
Returning to the perspective of the Xiangjiang exchange fund authority, the increased contact with banks will also help one day win over the right of the financial department to supervise banks!
……
Gao Xian and Yi Huirong spent more than two weeks in the mainland with Jiacheng, Jiaming and Jiayuan. Compared with other visitors from Xiangjiang, this time is quite long. Naturally, it involves a lot of content. Without making a detailed list, they returned to Xiangjiang in the middle of October 1984.
After getting off the train, Gao Xian asked Yi Huirong to take his three children home to rest. He himself went directly to work. First, he personally attended the 91 day regular auction of bills of Xiangjiang exchange fund.
This operation is one of the mechanisms designed by Gao Xian after the establishment of the Xiangjiang exchange fund Authority last year. The 91 day note, with a minimum face value of HK $500000, is auctioned once a week for a total amount of HK $200 million. Only banking institutions recognized by the Xiangjiang Banking Ordinance can participate in bidding by discount.
From the perspective of the functions of the central bank, this operation is a very routine operation. Coupled with the supporting settlement system, it can be said that the operation is becoming more and more skilled, which has laid a solid foundation for Xiangjiang exchange fund administration to further expand its scope of functions in the future.
Seeing Sir Gao's presence, the representatives of the banks on the scene changed from the dull routine operation to the excitement of showing their skills. The 200 million Hong Kong dollar bills were cut into melons and vegetables, and the bidding was completed quickly.
This phenomenon is not surprising. After all, the credit of Xiangjiang foreign exchange fund is guaranteed there. Players without qualification are still envious.
After Gao Xian said hello to the representatives of various banks with a smile, Li Guobao took a gap between the two and reported the feedback he received after he gave a briefing on real estate mortgage-backed securities.
To put it simply, the banking industry welcomed it with both hands, and there was no voice of stern rejection from the Hong Kong government. It can be officially promoted.
After instructing the precautions including, first of all, ensuring the exclusive operation of real estate mortgage-backed securities by Xiangjiang exchange fund administration, Gao Xian encouraged: "this matter is understood, which is definitely a brilliant achievement of your vice president's term of office."
Li Guobao smiled and nodded. In fact, his own enthusiasm is very high. After all, now the Li family is the first shareholder of Youya bank.
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Xiangjiang's position as an international financial center is difficult to form a specific concept for impatient people outside the profession and circle. After all, it's easier to criticize Xiangjiang's abnormal cognition of engaging in real estate.
From the perspective of financial derivatives, in the "old script", the game between big countries has entered an intense stage decades later. The number of structural financial derivatives in Xiangjiang capital market is as high as 10000, ranking first in the world, and the average daily transaction amount is HK $13.8 billion.
Middy wanted to engage in China's three major communication operators, so the three major investment banks in the United States withdrew hundreds of related financial derivatives operating in Xiangjiang.
In this regard, HKEx's statement is very calm to the effect that Xiangjiang's status as an international financial center will not be affected. You should revoke it in accordance with the procedures.
Xiangjiang's magnificent scale of financial derivatives began in the mid-1980s and spread rapidly.
In terms of the development of the global capital market, financial derivatives have also just begun to rise, and Xiangjiang can be regarded as synchronized with the world.
Take stock index futures, the most well-known example of financial derivatives. The year before last, that is, 1982, the Chicago Mercantile Exchange of the United States "developed" this new heavyweight financial weapon.
It is not difficult to understand that everything has a degree, too much is better than less; At the same time, everything has two sides.
The financial derivatives designed from the genius head of the capital elite are a double-edged sword. If used well, they really enhance the financial vitality; But it is often easier to play rotten and be backfired.
Therefore, in the United States, Britain, yiben, Singapore and other countries with developed financial industry, the supervision of financial derivatives is quite serious. Not all kinds of financial derivatives will be approved.
And Xiangjiang, now that we have entered the transition period, there is no need to analyze the subtle thoughts of the ghost guy. Everyone knows.
When Gao Xian heard that the final "two in one" merger of Xiangjiang stock exchange also began to speed up, and the obstruction of the ghost guy was further weakened, he was completely sure that the subtle mind of the ghost guy was just like this, and he wanted to make the best use of this situation as much as possible to strive for the control of Xiangjiang finance.
Where capital is powerful, it is to directly attack human greed, lure it with profit and drive it with profit. Whoever remains unmoved, who is different and attacked by the crowd.
Gao Xian will certainly not push himself into a place of eternal disaster, and there is no need at all. As long as he adapts to the time, takes the initiative, completes the top-level design, and reduces the side effects as much as possible, he will realize his ambition.
Now, Gao Xian doesn't want to take the initiative to promote financial derivatives such as stock index futures, because if he can save energy, the ghost guys will become enthusiastic. Anyway, in the end, he can't bypass the platform of Xiangjiang futures exchange. Why don't we see if it can become a half push trading chip.
Therefore, at this time, Gao Xian's attention is focused on real estate mortgage-backed securities. This thing has been running in the capital market in the United States for more than ten years. It has only implemented US stock index futures for two or three years than the Chicago commercial exchange in the United States, and has accumulated more experience. The researchers in his circle have done almost the same research. It's time to move to the implementation stage.
It is necessary to talk about the negative effects first. Take out the mortgage loans of residential and commercial real estate in the bank and put them in a "pool" and carefully design them into bonds. If they fail, they will bury a bomb like the subprime mortgage crisis.
But then again, in the environment of Xiangjiang, real estate mortgage-backed securities will appear sooner or later. It's better to take the initiative, do a good job in the top-level design and give full play to its positive role as much as possible.
As for the negative effects, after all, the volume of Xiangjiang can not be compared with the huge United States. In addition, it should be completely controllable to strictly review the advantages and disadvantages of mortgage loans.
In contrast, the positive role of real estate mortgage-backed securities is too attractive to Gaoxian. The development of Xiangjiang's second mortgage market is only the most superficial surface.
From the perspective of the Xiangjiang exchange fund authority, the credit scale of Xiangjiang can be expanded without deliberately issuing additional Hong Kong dollars, which is very important for the upcoming prosperity of the Xiangjiang market.
From the perspective of banks, the increase of available funds and the stability against the banking crisis are guaranteed.
From the point of view of the real estate industry, this is not a kind of influence, such as the means of restraining bubbles.
Returning to the perspective of the Xiangjiang exchange fund authority, the increased contact with banks will also help one day win over the right of the financial department to supervise banks!
……
Gao Xian and Yi Huirong spent more than two weeks in the mainland with Jiacheng, Jiaming and Jiayuan. Compared with other visitors from Xiangjiang, this time is quite long. Naturally, it involves a lot of content. Without making a detailed list, they returned to Xiangjiang in the middle of October 1984.
After getting off the train, Gao Xian asked Yi Huirong to take his three children home to rest. He himself went directly to work. First, he personally attended the 91 day regular auction of bills of Xiangjiang exchange fund.
This operation is one of the mechanisms designed by Gao Xian after the establishment of the Xiangjiang exchange fund Authority last year. The 91 day note, with a minimum face value of HK $500000, is auctioned once a week for a total amount of HK $200 million. Only banking institutions recognized by the Xiangjiang Banking Ordinance can participate in bidding by discount.
From the perspective of the functions of the central bank, this operation is a very routine operation. Coupled with the supporting settlement system, it can be said that the operation is becoming more and more skilled, which has laid a solid foundation for Xiangjiang exchange fund administration to further expand its scope of functions in the future.
Seeing Sir Gao's presence, the representatives of the banks on the scene changed from the dull routine operation to the excitement of showing their skills. The 200 million Hong Kong dollar bills were cut into melons and vegetables, and the bidding was completed quickly.
This phenomenon is not surprising. After all, the credit of Xiangjiang foreign exchange fund is guaranteed there. Players without qualification are still envious.
After Gao Xian said hello to the representatives of various banks with a smile, Li Guobao took a gap between the two and reported the feedback he received after he gave a briefing on real estate mortgage-backed securities.
To put it simply, the banking industry welcomed it with both hands, and there was no voice of stern rejection from the Hong Kong government. It can be officially promoted.
After instructing the precautions including, first of all, ensuring the exclusive operation of real estate mortgage-backed securities by Xiangjiang exchange fund administration, Gao Xian encouraged: "this matter is understood, which is definitely a brilliant achievement of your vice president's term of office."
Li Guobao smiled and nodded. In fact, his own enthusiasm is very high. After all, now the Li family is the first shareholder of Youya bank.
Xiangjiang's position as an international financial center is difficult to form a specific concept for impatient people outside the profession and circle. After all, it's easier to criticize Xiangjiang's abnormal cognition of engaging in real estate.From the perspective of financial derivatives, in the "old script", the game between big countries has entered an intense stage decades later. The number of structural financial derivatives in Xiangjiang capital market is as high as 10000, ranking first in the world, and the average daily transaction amount is HK $13.8 billion.Middy wanted to engage in China's three major communication operators, so the three major investment banks in the United States withdrew hundreds of related financial derivatives operating in Xiangjiang.In this regard, HKEx's statement is very calm to the effect that Xiangjiang's status as an international financial center will not be affected. You should revoke it in accordance with the procedures.Xiangjiang's magnificent scale of financial derivatives began in the mid-1980s and spread rapidly.In terms of the development of the global capital market, financial derivatives have also just begun to rise, and Xiangjiang can be regarded as synchronized with the world.Take stock index futures, the most well-known example of financial derivatives. The year before last, that is, 1982, the Chicago Mercantile Exchange of the United States "developed" this new heavyweight financial weapon.It is not difficult to understand that everything has a degree, too much is better than less; At the same time, everything has two sides.The financial derivatives designed from the genius head of the capital elite are a double-edged sword. If used well, they really enhance the financial vitality; But it is often easier to play rotten and be backfired.Therefore, in the United States, Britain, yiben, Singapore and other countries with developed financial industry, the supervision of financial derivatives is quite serious. Not all kinds of financial derivatives will be approved.And Xiangjiang, now that we have entered the transition period, there is no need to analyze the subtle thoughts of the ghost guy. Everyone knows.When Gao Xian heard that the final "two in one" merger of Xiangjiang stock exchange also began to speed up, and the obstruction of the ghost guy was further weakened, he was completely sure that the subtle mind of the ghost guy was just like this, and he wanted to make the best use of this situation as much as possible to strive for the control of Xiangjiang finance.Where capital is powerful, it is to directly attack human greed, lure it with profit and drive it with profit. Whoever remains unmoved, who is different and attacked by the crowd.Gao Xian will certainly not push himself into a place of eternal disaster, and there is no need at all. As long as he adapts to the time, takes the initiative, completes the top-level design, and reduces the side effects as much as possible, he will realize his ambition.Now, Gao Xian doesn't want to take the initiative to promote financial derivatives such as stock index futures, because if he can save energy, the ghost guys will become enthusiastic. Anyway, in the end, he can't bypass the platform of Xiangjiang futures exchange. Why don't we see if it can become a half push trading chip.Therefore, at this time, Gao Xian's attention is focused on real estate mortgage-backed securities. This thing has been running in the capital market in the United States for more than ten years. It has only implemented US stock index futures for two or three years than the Chicago commercial exchange in the United States, and has accumulated more experience. The researchers in his circle have done almost the same research. It's time to move to the implementation stage.It is necessary to talk about the negative effects first. Take out the mortgage loans of residential and commercial real estate in the bank and put them in a "pool" and carefully design them into bonds. If they fail, they will bury a bomb like the subprime mortgage crisis.But then again, in the environment of Xiangjiang, real estate mortgage-backed securities will appear sooner or later. It's better to take the initiative, do a good job in the top-level design and give full play to its positive role as much as possible.As for the negative effects, after all, the volume of Xiangjiang can not be compared with the huge United States. In addition, it should be completely controllable to strictly review the advantages and disadvantages of mortgage loans.In contrast, the positive role of real estate mortgage-backed securities is too attractive to Gaoxian. The development of Xiangjiang's second mortgage market is only the most superficial surface.From the perspective of the Xiangjiang exchange fund authority, the credit scale of Xiangjiang can be expanded without deliberately issuing additional Hong Kong dollars, which is very important for the upcoming prosperity of the Xiangjiang market.From the perspective of banks, the increase of available funds and the stability against the banking crisis are guaranteed.From the point of view of the real estate industry, this is not a kind of influence, such as the means of restraining bubbles.Returning to the perspective of the Xiangjiang exchange fund authority, the increased contact with banks will also help one day win over the right of the financial department to supervise banks!Gao Xian and Yi Huirong spent more than two weeks in the mainland with Jiacheng, Jiaming and Jiayuan. Compared with other visitors from Xiangjiang, this time is quite long. Naturally, it involves a lot of content. Without making a detailed list, they returned to Xiangjiang in the middle of October 1984.After getting off the train, Gao Xian asked Yi Huirong to take his three children home to rest. He himself went directly to work. First, he personally attended the 91 day regular auction of bills of Xiangjiang exchange fund.This operation is one of the mechanisms designed by Gao Xian after the establishment of the Xiangjiang exchange fund Authority last year. The 91 day note, with a minimum face value of HK $500000, is auctioned once a week for a total amount of HK $200 million. Only banking institutions recognized by the Xiangjiang Banking Ordinance can participate in bidding by discount.From the perspective of the functions of the central bank, this operation is a very routine operation. Coupled with the supporting settlement system, it can be said that the operation is becoming more and more skilled, which has laid a solid foundation for Xiangjiang exchange fund administration to further expand its scope of functions in the future.Seeing Sir Gao's presence, the representatives of the banks on the scene changed from the dull routine operation to the excitement of showing their skills. The 200 million Hong Kong dollar bills were cut into melons and vegetables, and the bidding was completed quickly.This phenomenon is not surprising. After all, the credit of Xiangjiang foreign exchange fund is guaranteed there. Players without qualification are still envious.After Gao Xian said hello to the representatives of various banks with a smile, Li Guobao took a gap between the two and reported the feedback he received after he gave a briefing on real estate mortgage-backed securities.To put it simply, the banking industry welcomed it with both hands, and there was no voice of stern rejection from the Hong Kong government. It can be officially promoted.After instructing the precautions including, first of all, ensuring the exclusive operation of real estate mortgage-backed securities by Xiangjiang exchange fund administration, Gao Xian encouraged: "this matter is understood, which is definitely a brilliant achievement of your vice president's term of office."Li Guobao smiled and nodded. In fact, his own enthusiasm is very high. After all, now the Li family is the first shareholder of Youya bank.
