Chapter 917
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It is impossible that the three giants of the Hong Kong Government - governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng - are not aware of the evil intentions of Huifeng and others, but they are more eager to hope that the exchange fund can support the government's finances that are still in budget deficit.
After meeting and studying, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng formed an opening plan. Governor Youde hosted a banquet at the governor's house, accompanied by Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng, invited Sir Gao to pay a visit. Taking advantage of the warm atmosphere, he spread out his purpose and made it clear.
Sir Gao, who was buried in the pile of documents and studying how to spend money, just smiled and knew it.
He then called Ren Zhigang, who was in charge of monetary work, and Li Guobao, who was in charge of banking, "you accompany me to the Hong Kong Governor's house for a dinner in the evening."
"What kind of banquet, do you want to change into more formal clothes or go with your wife?" Li Guobao, who listened curiously, originally planned to work until this year and help brother Xian put the work of Xiangjiang exchange fund administration on the right track. After he had enough brotherhood, he left quickly and bravely to run for parliament, so as to better serve the interests of the family, But now, he doesn't mention this stubble at all. It's not difficult to guess the reason. Sir Gao doesn't point out. When the water is clear, there is no fish, and when people observe, there is no apprentice, so they should forget.
Gao Xian answered concisely, "for the mini private banquet, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng invited me to dinner. You accompany me. It's just three to three. Everything should be simple."
Li Guobao nodded suddenly. Ren Zhigang asked for instructions and said, "do you want to prepare some materials for the talk at the banquet."
Gao Xian waved his hand, "the drunken man doesn't care about wine. He cares about opening his mouth and making love."
Li Guobao and Ren Zhigang were chosen by Sir Gao as deputies. Naturally, they had a lot of brains. After a knowing smile, they stopped talking and prepared for such a high-standard banquet.
In this way, the big three of the Hong Kong government and the big three of the Xiangjiang exchange fund administration have had a good time at the Hong Kong Governor's office.
Xia Dingji, the assistant chief secretary, who is equivalent to the role of a big housekeeper, first cut to the point. "Sir Gao, the government budget has been in deficit for years. Can the exchange fund with excellent operation allocate funds to solve the urgent problem?"
Gao Xian promised on the spot with great righteousness, "no problem. I can make decisions for HK $200 million or HK $300 million. I don't even need special funds from the government. I can handle this in a proper way."
Xia Dingji, the deputy chief secretary, smiled and looked at governor Youde. Sir Gao's attitude was interesting, but the amount of information was a little big.
The preliminary interpretation is that with everyone's relationship, the Hong Kong government can easily borrow up to HK $300 million from the exchange fund and use it casually. The exchange fund can ignore it and deal with it on its own.
The reverse analysis of this is that if the Hong Kong government makes a fortune of more than HK $300 million to the exchange fund, it will be a little troublesome, and there will be restrictions such as earmarking.
I have to say that Sir Kao's discretion is indeed just right. While taking care of friendship and official affairs, he accurately calculates the appetite of the Hong Kong government.
The three giants of the Hong Kong government hold a banquet together and cry for money. How can they be satisfied with only HK $300 million!
Zhai Kecheng, the financial secretary, knows that it is his turn to perform. "Sir Gao, if I can promote the consumption tax smoothly, it may be enough for the exchange fund to support the government's finance by HK $300 million, but the industry represented by the tobacco industry has strong opposition to the consumption tax, at least in the next two or three years. It is unlikely to land."
Sir Gao asked, "the capital market in Xiangjiang is very active this year. Should the tax increase, including stamp duty and profits tax, be not small?"
"The yen offshore financial center has indeed greatly activated the vitality of Xiangjiang international financial center, but Xiangjiang has always been famous for its low tax rate. The taxes mentioned by Sir Gao have a limited base. Even if the growth rate is obvious, it can be called a new car water cup compared with the fiscal deficit of more than HK $4 billion." Financial Secretary Zhai Kecheng was so poor that he almost drove the three giants of the Hong Kong government "How much money is not enough to spend" in my heart, speak out smoothly.
Deputy Chief Secretary Xia Dingji then said, "Sir Gao, under your wise leadership, the operation of the exchange fund has achieved a miracle. The asset target of US $30 billion at the end of the first president's term of office should not be a problem. From it, more than HK $2 billion will be used to support the government's finance. For the exchange fund, it is US $300 million, but it is a blessing for the government's finance."
Zhai Kecheng, the financial secretary, echoed: "yes, sir Gao, judging from the currency circulation of Xiangjiang, the exchange fund under your leadership is a little outstanding and has too much balance. It's better to allocate more to help the government alleviate the pressure of fiscal deficit."
I feel that the three giants of the Hong Kong government who are crying for poverty have basically shown their cards, and Sir Gao has also started his own. Every family has a difficult Sutra. "I understand the difficulties of the government very much, but the exchange fund has allocated so much money, which is unprecedented, and the linkage between finance and currency is extremely complex, and the impact is unpredictable. As president, I should be responsible for the exchange fund."
"In fact, although the prospect of the exchange fund is very good, there is also an undercurrent."
"After the Plaza agreement came out, the depreciation trend of the US dollar is obvious, and the energy of appreciation of the Hong Kong dollar is accumulating, which will certainly break out in the next few years. In order to stabilize the Hong Kong dollar, the exchange fund must be prepared for danger in times of peace."
Li Guobao, vice president of the exchange fund authority in charge of banking, interrupted: "Yes, in the short period of more than two years since the establishment of the exchange fund authority, the Hong Kong dollar has experienced the impact of three international speculators. Although it is calm, it has also exposed the disadvantages of Xiangjiang's monetary management and banking supervision in their own way under the new international financial situation after the Plaza Agreement."
The three giants of the Hong Kong government exchanged glances. Sir Gao has made an exchange condition. Do you want the power of bank supervision?
Sir Gao hasn't finished yet. He looks serious and says, "at present, financial derivatives are in the ascendant. From a certain level, they are shadow banks. Therefore, the scale of Hong Kong dollar that the exchange fund needs to protect is not only the currency circulation in the traditional sense, but also a surplus to resist the Hong Kong dollar crisis."
Ren Zhigang, another vice president of the exchange fund authority, analyzed: "if the securities supervision is organically linked with the monetary management and banking supervision, it will certainly have a relatively good control over the risks of shadow banks."
Sir Gao nodded and finally concluded: "there is a general trend that financial problems are becoming more and more three-dimensional, which requires financial managers to manage, supervise and prevent from multiple dimensions."
The three giants of the Hong Kong government exchanged glances again. Sir Gao not only wants the power of bank supervision, but also the power of securities supervision!
Indeed, if Sir Gao wants to win over the power of bank supervision and securities supervision, he will indeed be responsible for his position as president.
Can we concentrate the powers of monetary management, banking supervision and securities supervision behind one, the exchange fund authority or the exchange fund authority?
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It is impossible that the three giants of the Hong Kong Government - governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng - are not aware of the evil intentions of Huifeng and others, but they are more eager to hope that the exchange fund can support the government's finances that are still in budget deficit.
After meeting and studying, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng formed an opening plan. Governor Youde hosted a banquet at the governor's house, accompanied by Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng, invited Sir Gao to pay a visit. Taking advantage of the warm atmosphere, he spread out his purpose and made it clear.
Sir Gao, who was buried in the pile of documents and studying how to spend money, just smiled and knew it.
He then called Ren Zhigang, who was in charge of monetary work, and Li Guobao, who was in charge of banking, "you accompany me to the Hong Kong Governor's house for a dinner in the evening."
"What kind of banquet, do you want to change into more formal clothes or go with your wife?" Li Guobao, who listened curiously, originally planned to work until this year and help brother Xian put the work of Xiangjiang exchange fund administration on the right track. After he had enough brotherhood, he left quickly and bravely to run for parliament, so as to better serve the interests of the family, But now, he doesn't mention this stubble at all. It's not difficult to guess the reason. Sir Gao doesn't point out. When the water is clear, there is no fish, and when people observe, there is no apprentice, so they should forget.
Gao Xian answered concisely, "for the mini private banquet, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng invited me to dinner. You accompany me. It's just three to three. Everything should be simple."
Li Guobao nodded suddenly. Ren Zhigang asked for instructions and said, "do you want to prepare some materials for the talk at the banquet."
Gao Xian waved his hand, "the drunken man doesn't care about wine. He cares about opening his mouth and making love."
Li Guobao and Ren Zhigang were chosen by Sir Gao as deputies. Naturally, they had a lot of brains. After a knowing smile, they stopped talking and prepared for such a high-standard banquet.
In this way, the big three of the Hong Kong government and the big three of the Xiangjiang exchange fund administration have had a good time at the Hong Kong Governor's office.
Xia Dingji, the assistant chief secretary, who is equivalent to the role of a big housekeeper, first cut to the point. "Sir Gao, the government budget has been in deficit for years. Can the exchange fund with excellent operation allocate funds to solve the urgent problem?"
Gao Xian promised on the spot with great righteousness, "no problem. I can make decisions for HK $200 million or HK $300 million. I don't even need special funds from the government. I can handle this in a proper way."
Xia Dingji, the deputy chief secretary, smiled and looked at governor Youde. Sir Gao's attitude was interesting, but the amount of information was a little big.
The preliminary interpretation is that with everyone's relationship, the Hong Kong government can easily borrow up to HK $300 million from the exchange fund and use it casually. The exchange fund can ignore it and deal with it on its own.
The reverse analysis of this is that if the Hong Kong government makes a fortune of more than HK $300 million to the exchange fund, it will be a little troublesome, and there will be restrictions such as earmarking.
I have to say that Sir Kao's discretion is indeed just right. While taking care of friendship and official affairs, he accurately calculates the appetite of the Hong Kong government.
The three giants of the Hong Kong government hold a banquet together and cry for money. How can they be satisfied with only HK $300 million!
Zhai Kecheng, the financial secretary, knows that it is his turn to perform. "Sir Gao, if I can promote the consumption tax smoothly, it may be enough for the exchange fund to support the government's finance by HK $300 million, but the industry represented by the tobacco industry has strong opposition to the consumption tax, at least in the next two or three years. It is unlikely to land."
Sir Gao asked, "the capital market in Xiangjiang is very active this year. Should the tax increase, including stamp duty and profits tax, be not small?"
"The yen offshore financial center has indeed greatly activated the vitality of Xiangjiang international financial center, but Xiangjiang has always been famous for its low tax rate. The taxes mentioned by Sir Gao have a limited base. Even if the growth rate is obvious, it can be called a new car water cup compared with the fiscal deficit of more than HK $4 billion." Financial Secretary Zhai Kecheng was so poor that he almost drove the three giants of the Hong Kong government "How much money is not enough to spend" in my heart, speak out smoothly.
Deputy Chief Secretary Xia Dingji then said, "Sir Gao, under your wise leadership, the operation of the exchange fund has achieved a miracle. The asset target of US $30 billion at the end of the first president's term of office should not be a problem. From it, more than HK $2 billion will be used to support the government's finance. For the exchange fund, it is US $300 million, but it is a blessing for the government's finance."
Zhai Kecheng, the financial secretary, echoed: "yes, sir Gao, judging from the currency circulation of Xiangjiang, the exchange fund under your leadership is a little outstanding and has too much balance. It's better to allocate more to help the government alleviate the pressure of fiscal deficit."
I feel that the three giants of the Hong Kong government who are crying for poverty have basically shown their cards, and Sir Gao has also started his own. Every family has a difficult Sutra. "I understand the difficulties of the government very much, but the exchange fund has allocated so much money, which is unprecedented, and the linkage between finance and currency is extremely complex, and the impact is unpredictable. As president, I should be responsible for the exchange fund."
"In fact, although the prospect of the exchange fund is very good, there is also an undercurrent."
"After the Plaza agreement came out, the depreciation trend of the US dollar is obvious, and the energy of appreciation of the Hong Kong dollar is accumulating, which will certainly break out in the next few years. In order to stabilize the Hong Kong dollar, the exchange fund must be prepared for danger in times of peace."
Li Guobao, vice president of the exchange fund authority in charge of banking, interrupted: "Yes, in the short period of more than two years since the establishment of the exchange fund authority, the Hong Kong dollar has experienced the impact of three international speculators. Although it is calm, it has also exposed the disadvantages of Xiangjiang's monetary management and banking supervision in their own way under the new international financial situation after the Plaza Agreement."
The three giants of the Hong Kong government exchanged glances. Sir Gao has made an exchange condition. Do you want the power of bank supervision?
Sir Gao hasn't finished yet. He looks serious and says, "at present, financial derivatives are in the ascendant. From a certain level, they are shadow banks. Therefore, the scale of Hong Kong dollar that the exchange fund needs to protect is not only the currency circulation in the traditional sense, but also a surplus to resist the Hong Kong dollar crisis."
Ren Zhigang, another vice president of the exchange fund authority, analyzed: "if the securities supervision is organically linked with the monetary management and banking supervision, it will certainly have a relatively good control over the risks of shadow banks."
Sir Gao nodded and finally concluded: "there is a general trend that financial problems are becoming more and more three-dimensional, which requires financial managers to manage, supervise and prevent from multiple dimensions."
The three giants of the Hong Kong government exchanged glances again. Sir Gao not only wants the power of bank supervision, but also the power of securities supervision!
Indeed, if Sir Gao wants to win over the power of bank supervision and securities supervision, he will indeed be responsible for his position as president.
Can we concentrate the powers of monetary management, banking supervision and securities supervision behind one, the exchange fund authority or the exchange fund authority?
It is impossible that the three giants of the Hong Kong Government - governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng - are not aware of the evil intentions of Huifeng and others, but they are more eager to hope that the exchange fund can support the government's finances that are still in budget deficit.After meeting and studying, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng formed an opening plan. Governor Youde hosted a banquet at the governor's house, accompanied by Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng, invited Sir Gao to pay a visit. Taking advantage of the warm atmosphere, he spread out his purpose and made it clear.Sir Gao, who was buried in the pile of documents and studying how to spend money, just smiled and knew it.He then called Ren Zhigang, who was in charge of monetary work, and Li Guobao, who was in charge of banking, "you accompany me to the Hong Kong Governor's house for a dinner in the evening.""What kind of banquet, do you want to change into more formal clothes or go with your wife?" Li Guobao, who listened curiously, originally planned to work until this year and help brother Xian put the work of Xiangjiang exchange fund administration on the right track. After he had enough brotherhood, he left quickly and bravely to run for parliament, so as to better serve the interests of the family, But now, he doesn't mention this stubble at all. It's not difficult to guess the reason. Sir Gao doesn't point out. When the water is clear, there is no fish, and when people observe, there is no apprentice, so they should forget.Gao Xian answered concisely, "for the mini private banquet, governor Youde, Deputy Chief Secretary Xia Dingji and financial secretary Zhai Kecheng invited me to dinner. You accompany me. It's just three to three. Everything should be simple."Li Guobao nodded suddenly. Ren Zhigang asked for instructions and said, "do you want to prepare some materials for the talk at the banquet."Gao Xian waved his hand, "the drunken man doesn't care about wine. He cares about opening his mouth and making love."Li Guobao and Ren Zhigang were chosen by Sir Gao as deputies. Naturally, they had a lot of brains. After a knowing smile, they stopped talking and prepared for such a high-standard banquet.In this way, the big three of the Hong Kong government and the big three of the Xiangjiang exchange fund administration have had a good time at the Hong Kong Governor's office.Xia Dingji, the assistant chief secretary, who is equivalent to the role of a big housekeeper, first cut to the point. "Sir Gao, the government budget has been in deficit for years. Can the exchange fund with excellent operation allocate funds to solve the urgent problem?"Gao Xian promised on the spot with great righteousness, "no problem. I can make decisions for HK $200 million or HK $300 million. I don't even need special funds from the government. I can handle this in a proper way."Xia Dingji, the deputy chief secretary, smiled and looked at governor Youde. Sir Gao's attitude was interesting, but the amount of information was a little big.The preliminary interpretation is that with everyone's relationship, the Hong Kong government can easily borrow up to HK $300 million from the exchange fund and use it casually. The exchange fund can ignore it and deal with it on its own.The reverse analysis of this is that if the Hong Kong government makes a fortune of more than HK $300 million to the exchange fund, it will be a little troublesome, and there will be restrictions such as earmarking.I have to say that Sir Kao's discretion is indeed just right. While taking care of friendship and official affairs, he accurately calculates the appetite of the Hong Kong government.The three giants of the Hong Kong government hold a banquet together and cry for money. How can they be satisfied with only HK $300 million!Zhai Kecheng, the financial secretary, knows that it is his turn to perform. "Sir Gao, if I can promote the consumption tax smoothly, it may be enough for the exchange fund to support the government's finance by HK $300 million, but the industry represented by the tobacco industry has strong opposition to the consumption tax, at least in the next two or three years. It is unlikely to land."Sir Gao asked, "the capital market in Xiangjiang is very active this year. Should the tax increase, including stamp duty and profits tax, be not small?""The yen offshore financial center has indeed greatly activated the vitality of Xiangjiang international financial center, but Xiangjiang has always been famous for its low tax rate. The taxes mentioned by Sir Gao have a limited base. Even if the growth rate is obvious, it can be called a new car water cup compared with the fiscal deficit of more than HK $4 billion." Financial Secretary Zhai Kecheng was so poor that he almost drove the three giants of the Hong Kong government "How much money is not enough to spend" in my heart, speak out smoothly.Deputy Chief Secretary Xia Dingji then said, "Sir Gao, under your wise leadership, the operation of the exchange fund has achieved a miracle. The asset target of US $30 billion at the end of the first president's term of office should not be a problem. From it, more than HK $2 billion will be used to support the government's finance. For the exchange fund, it is US $300 million, but it is a blessing for the government's finance."Zhai Kecheng, the financial secretary, echoed: "yes, sir Gao, judging from the currency circulation of Xiangjiang, the exchange fund under your leadership is a little outstanding and has too much balance. It's better to allocate more to help the government alleviate the pressure of fiscal deficit."I feel that the three giants of the Hong Kong government who are crying for poverty have basically shown their cards, and Sir Gao has also started his own. Every family has a difficult Sutra. "I understand the difficulties of the government very much, but the exchange fund has allocated so much money, which is unprecedented, and the linkage between finance and currency is extremely complex, and the impact is unpredictable. As president, I should be responsible for the exchange fund.""In fact, although the prospect of the exchange fund is very good, there is also an undercurrent.""After the Plaza agreement came out, the depreciation trend of the US dollar is obvious, and the energy of appreciation of the Hong Kong dollar is accumulating, which will certainly break out in the next few years. In order to stabilize the Hong Kong dollar, the exchange fund must be prepared for danger in times of peace."Li Guobao, vice president of the exchange fund authority in charge of banking, interrupted: "Yes, in the short period of more than two years since the establishment of the exchange fund authority, the Hong Kong dollar has experienced the impact of three international speculators. Although it is calm, it has also exposed the disadvantages of Xiangjiang's monetary management and banking supervision in their own way under the new international financial situation after the Plaza Agreement."The three giants of the Hong Kong government exchanged glances. Sir Gao has made an exchange condition. Do you want the power of bank supervision?Sir Gao hasn't finished yet. He looks serious and says, "at present, financial derivatives are in the ascendant. From a certain level, they are shadow banks. Therefore, the scale of Hong Kong dollar that the exchange fund needs to protect is not only the currency circulation in the traditional sense, but also a surplus to resist the Hong Kong dollar crisis."Ren Zhigang, another vice president of the exchange fund authority, analyzed: "if the securities supervision is organically linked with the monetary management and banking supervision, it will certainly have a relatively good control over the risks of shadow banks."Sir Gao nodded and finally concluded: "there is a general trend that financial problems are becoming more and more three-dimensional, which requires financial managers to manage, supervise and prevent from multiple dimensions."The three giants of the Hong Kong government exchanged glances again. Sir Gao not only wants the power of bank supervision, but also the power of securities supervision!Indeed, if Sir Gao wants to win over the power of bank supervision and securities supervision, he will indeed be responsible for his position as president.Can we concentrate the powers of monetary management, banking supervision and securities supervision behind one, the exchange fund authority or the exchange fund authority?
