Shen Jia smiled and said, "Well, you should be happy today. I won't mention Fu Hua anymore. Oh, Shouyi, are you going back to Beijing recently? You haven't come back some days."
Sun Shouyi thought about it for a while, it seemed that he hadn't returned to Beijing for a while. He smiled and said, "Well, when my city party secretary is appointed, I will go back to see you and your child."
In his heart, Sun Shouyi was reluctant to return to Beijing. To go back to Beijing, he would not be able to bypass the Beijing Office. If he was unable to bypass the Beijing Office, he would not be able to bypass Fu Hua. He was unwilling to face the kind of mutual disgust on his face but still The embarrassing scene of having to put on a smiling face.
Fu Hua is not in Beijing at this moment. He has already flown to Hong Kong with Xiang Huaide, and he is standing in front of the hotel window with Xiang Huaide enjoying the view of Victoria Harbour.
For a long time, Xiang Huaide shook his head and said: "This place is really amazing, but the small place contains so much economic energy, it is amazing."
Fu Hua smiled and said: "The times make heroes. If it weren't for the European and American blockade of China back then, Hong Kong would have no re-export trade. Without re-export trade, there would be no Hong Kong today."
Xiang Huaide smiled and said: "Hong Kong's success is indeed inseparable from re-export trade, but it also has a lot to do with Hong Kong's own economic freedom and the policy of less government intervention."
Fu Hua glanced at Xiang Huaide. He was a little surprised when Xiang Huaide proposed a policy of economic freedom and government non-intervention. He smiled and said: "I don't expect Xiang Dong to have such in-depth research on the Hong Kong economy."
Xiang Huaide smiled and said: "I don't dare to study deeply, I know a little bit about it. In fact, I envy Hong Kong. When will the mainland be like Hong Kong, government agencies and officials will be able to interfere less. The behavior of our company is just fine."
Fu Hua laughed and said, "Xiang Dong, why do I think you are so hypocritical? You are almost the overlord of the cloud city business world. Don't tell me that you have not been exposed to the government."
As a former secretary to the mayor, Fu Hua knows that such large enterprises owned by Xiang Huaide are very popular locally, and the government will support them with various preferential treatments. That's why Fu Hua said Xiang Huaide was hypocritical.
Xiang Huaide smiled and said, "It's not that I haven't gotten the cheapness of the government, but compared to the cheapness, the government has brought us more trouble. You may not know, once the government lacks funds for any project , I am here, but they must go. If you don’t give it to them, you can’t do it. If you offend them, they will make trouble for you around the corner. Like in Hong Kong, as long as you pay taxes on time, no one will interfere with you Business behavior."
The two were chatting enthusiastically when Fu Hua's cell phone rang, and it was Jiang Yu. Fu Hua answered the phone, Jiang Yu smiled and said, "Mr. Fu, have you arrived in Hong Kong?"
Fu Hua smiled and said: "Here, I have already stayed with Xiang Dong. I originally wanted to take a break before calling you, but I didn't expect you to call first."
Jiang Yu smiled and said, "It's fine when you arrive. We will have dinner together tonight and I will wash the dust for you."
In the evening, Jiang Yu came to pick up Xiang Huaide and Fu Hua, and went to a luxurious restaurant in Sheung Wan. After sitting down, Jiang Yu smiled and picked up the wine glass, and said, "Come on, welcome both of you to Hong Kong."
Xiang Huaide and Fu Hua both picked up their wine glasses, the three of them touched the glasses, then each took a sip and put down the wine glasses.
Xiang Huaide smiled and said, "Thank you Jiang Dongken for taking time out of his busy schedule to see us."
Jiang Yu smiled and said, "Mr. Fu and I are old friends. I want to meet the friends he introduced, but don’t expect too much from me, Xiang Dong. I don’t dare to guarantee. I must not be able to help you."
Xiang Huaide smiled and said, "Jiang Dong is really too modest. I know your reputation in the Hong Kong stock market. As long as you are willing to make a move, it will be fine."
Jiang Yu smiled and said, "Xiang Dongxian, don't rush to put a high hat on me. What a prestige, it's not worthy of a show."
Xiang Huaide smiled and said, "Jiang Dong is really too humble."
Jiang Yu smiled and said, "It's not humble, but the truth. Hey, Dong Xiang, since you have come to help you run the company's listing and raise funds, let me ask you a question. Do you know what this stock is?"
Xiang Huaide smiled and said, "Jiang Dong is going to test me, so I think, this stock is a proof of holding a certain share in a certain company, don't you know if what I said is right or wrong?"
Jiang Yu smiled, and did not evaluate whether the definition of stock given by Xiang Huaide was right or wrong, but continued to ask: "Then do you think this stock is valuable?"
Xiang Huaide smiled and said: "Of course it is valuable, which is equivalent to a certain percentage of shares in a certain company."
Jiang Yu then asked: "Then you think it's valuable, for example, your company's stock."
Xiang Huaide smiled and said: "It should be of high value. Let me tell you Dong Jiang. Our company has a good operating condition and stable profitability. Such a company should be of high value."
Jiang Yu smiled and said, "It seems that Xiang Dong has full confidence in his company. Then, how does Xiang Dong think your company compares to PetroChina based on its operating conditions?"
"PetroChina?" Xiang Huaide said with a awkward smile, "Of course it's incomparable. People are state-owned super large companies, and my company is too small compared to him."
Jiang Yu smiled and said: "Then you know that since the listing of PetroChina, the stock price has been declining. So far, the stock price has fallen by 80%, but it still cannot be said that PetroChina's stock price has bottomed out. ."
Xiang Huaide said: "I haven't paid attention to this. No, it's such a profitable company in PetroChina."
Fu Hua smiled and said: "I know that. On November 5, 2007, PetroChina landed on the A-share market, and the highest price that day reached 48 yuan. At present, PetroChina closed at 10 yuan and 35 yuan. , The cumulative decline has been 80%. Some people say that if the shareholding system reform has spawned an unprecedented bull market and created a peak of 6124, then the listing of PetroChina will be the biggest trip to this big bull. A thick rope. After PetroChina went public, the stock index has dropped from more than 6,000 points to more than 2,000. Now investors say how worried you can be, just like a full warehouse of PetroChina. If you didn't cut the meat at the beginning, now you want to worry more ."
Jiang Yu smiled and said, "Mr. Fu is very familiar with the stock market. Then, Xiang Dong, I want to ask you. Since the stock you said is valuable, its value is equivalent to a certain percentage of shares in a certain company. However, the stock price of PetroChina fell. Over 80% of the time, PetroChina has been operating well and has stable earnings. A certain percentage of its shares have not shrunk in value. On the contrary, they may have increased in value. But why did the stock price on the stock market fall so much? ?"
"Well," Xiang Huaide scratched his head. For a while, it was really hard for him to explain the problem clearly. He smiled bitterly and said, "I really don't know the reason for this."
Xiang Huaide couldn't answer, but Jiang Yu didn't continue to struggle. He smiled and said, "Xiang Dong, I want to ask you the second question. What do you think is this money?"
Xiang Huaide smiled and said, "Dong Jiang, why are you asking some mysterious questions today? What is this money? No one shouldn't know, right?"
Jiang Yu smiled and said, "Since no one doesn't know, why don't you tell me the answer to this question?"
Xiang Huaide smiled and said: "Money is of course a valuable thing, he can buy a lot of things."
Jiang Yu smiled and said, "Things of value? Then you tell me how much the one hundred yuan bill is worth?"
Xiang Huaide smiled and said, "Of course it's still a hundred."
Jiang Yu smiled and said: "What you are talking about is the value that the government assigns to it through ***. Now suppose that he is not a currency guaranteed by the government, but he is just a piece of finely printed paper. Would it be worth one hundred?"
Xiang Huaide smiled and said, "Of course it's not worth it. He is not an antique, just a piece of paper."
Jiang Yu smiled and said, "Since he is just a piece of paper, why did you just say that he is valuable and can buy a lot of things?"
Xiang Huaide concluded again. Even Fu Hua found the question Jiang Yu asked a little bit difficult. The things involved in it are not clear in one sentence or two sentences, even he, who specializes in economics. Everyone finds it difficult, let alone Xiang Huaide.
Jiang Yu didn’t expect Xiang Huaide to answer this question. Instead, he continued to ask him the third question. He looked at Xiang Huaide, smiled and said, “It seems that Xiang Dong is not good at the securities industry. You are too familiar with it. Maybe you don’t know about the March 27 Incident of Treasury Bond Futures, right?"
Xiang Huaide really shook his head and said, "I really don't know this."
Jiang Yu turned his gaze to Fu Hua again, smiled, and said, "I think Mr. Fu has a lot of research on economics. I think he should know about the March 27 incident, right?"
Fu Hua nodded and said, "I know that it was a catastrophic event in the history of securities. The new thing at that time, national debt futures, was strangled in the infancy."
The March 27 incident started with Guan Jinsheng, a godfather-level figure on the Chinese stock market. In his first half of his life, Guan Jinsheng did two major events that shook the industry and caused a sensation. One was the establishment of Wanguo Securities, and the other was the creation of national debt futures .
The national debt futures market was a pilot project proposed by the Shanghai Stock Exchange at the end of 1993 and approved by the Ministry of Finance and the Ministry of Finance. The main purpose is to stimulate the national debt market so that the national debt can be issued smoothly.
327 is a type of treasury bond futures, which is a synonym for the 3-year treasury bond futures contract issued in 1992. Since it will be settled in June 1995, the spot hedging and subsidy rate is significantly lower than the bank interest rate, so it has always been a very active subject of speculation.