773: C773 Teacher Zhou's Fame

C773 Teacher Zhou's Fame

0Zhou Hao's words caused the expressions of everyone present, especially the experts and scholars, to change several times. Chief Executive Dong and the others were naturally surprised by Zhou Hao's words. At the same time, they had to think about the pros and cons of the current communications system in Hong Kong.

Those experts and scholars were the cream of the crop in this field. What Zhou Hao just said was also the conclusion they had come up with after researching it. However, that was something that they had worked together for a long time to come up with, and Zhou Hao was able to summarize their painstaking research on his own. It had to be a surprise to them.

Naturally, these people present did not know about the pros and cons of the "network rate system. " Zhou Hao had gotten sick of hearing about it in his previous life, but that was the experience that many experts had concluded after the financial storm. Although it was easy for Zhou Hao to hear it, it was something that those economists had studied for a long time. And based on the financial storm in Hong Kong and the Mexican currency crisis from before, they had finally researched it.

"Contacting the exchange rate system is hard to use in financial crises. This is very easy to be used by those speculators. " Zhou Hao said, "Soros and the others attacked Hong Kong's stock market in late October. And now they are selling Hong Kong dollars, for example. They are trying to shorten Hong Kong dollars' futures in the market. The risk of HK dollar futures will immediately rise, which will push the interest rate of the same industry in the bank system to rise. In order to deal a heavy blow to these speculators, The Bureau of Finance Management tightened their grip on the silver root. At that time, the interest rate of the same industry was raised to 300%. "

Ren Zhikang, the director of the Bureau of Gold Management, was also present. When he heard Zhou Hao mention this matter, he immediately straightened his back, and his expression couldn't help but become nervous.

"Although this high interest increases the cost of speculators, it will also cause serious damage to the stock market. The stock market is like a tidal wave, and the Hang Sheng Index has fallen by more than 4000 points. It fell by more than 1400 points on October 28th, and Sodos and his men didn't get any profit from the stock market. They made a fortune in the stock market. " Zhou Hao shook his head and said, "That's why I said that we should increase the rate of borrowing and borrowing. It simply does not solve the root cause of the problem. "

After listening to Zhou Hao's words, Chief Executive Dong and the other experts looked at Ren Zhikang at the same time. Now, they knew that this simple method of increasing the rate of borrowing was to kill a thousand enemies and take eight hundred losses. It could even be used by others. The foreign media called Hong Kong the "super ATM" of those speculators largely because of this rigid measure.

Ren Zhikang's face turned red. He could not think of anything to refute Zhou Hao's opinion, especially now that the truth was right in front of him. His "Ren Yi" move not only caused severe damage to Hong Kong's stock market, but also increased Soros and the others' arrogance.

Zhou Hao's voice sounded again, "Actually, everyone, don't blame Director Ren too much. When faced with Soros's group of wolves, his reaction is already considered fast. The government of Thailand and Malaysia has been tortured by those guys. Fortunately, Director Ren from Hong Kong has defended the city gate. "

At this moment, Zhou Hao's words sounded like heavenly music to Ren Zhikang. In his heart, he was extremely grateful to Zhou Hao. He wanted to go over and kowtow and thank him. It was all because of Zhou Hao that he had fallen into such an awkward situation.

Zhou Hao's' understanding 'of Ren Zhikang was even more profound in the eyes of Qin Bai and Zhou Hao, because this was clearly the profound way of controlling subordinates. When one tightened and one relaxed, the control was appropriate and neither hot nor hot. He fell down and helped him up. He made his subordinates unknowingly be loyal to him. They had always used such a way of subjugating their subordinates. Or perhaps the higher-ups had used it on them, so they were especially sensitive to it.

Qin Bai and the Prime Minister couldn't help but think of some rumors in the central government. The chairman and the Prime Minister had entrusted the responsibility of Hong Kong to Zhou Hao. The Zhao Family had Zhou Hao's full support, and now Zhou Hao had shown such a "monarch's heart technique. " They could not help guessing, This Zhou Hao, could he really be the successor that the higher-ups wanted to nurture?

However, Zhou Hao did not know that the actions of the "local forces" in Hong Kong for the sake of the overall situation would make Qin Donghai and Bai Zhengnan think that way. Otherwise, he would really sigh at the imagination of those high officials.

Zhou Hao, who had been focusing all his attention on the Hong Kong financial war, did not notice their little thoughts. He continued to speak to the people present, "You know Julian. What is Robeson most concerned about in Hong Kong?"

Everyone shook their heads. Zhou Hao said, "One is to visit Hong Kong's passenger volume, and the other is the interest rate of Hong Kong's investors. "

At this moment, another expert said in confusion. "We can understand the investor's dividends. Because the investor's dividend rate can show the excitement of the stock market, when the return rate reaches an extraordinary level, the turbulence in the stock market might not be far away, so the overdraft rate can be seen as a reverse indicator. But what does visiting Hong Kong have to do with this? "

Zhou Hao explained," Perhaps most people think that visiting Hong Kong is just one of the more than ten indicators to track Hong Kong's economy and market needs to be observed, but in Julian. In the eyes of Robeson, or rather, in the eyes of the Tiger Fund, visiting Hong Kong had a huge impact on the economy. It was an important indicator for their actions against Hong Kong.

First of all, visiting Hong Kong tourists directly affected Hong Kong's foreign exchange income, and the foreign exchange income was the raw material for the release of the Hong Kong currency. According to my personal statistics, the tourism industry accounted for more than 40% of Hong Kong's exports, and it was very important to support the stable internal exchange rate system.

Other than that, the spending of the visitors to Hong Kong has made a huge contribution to Hong Kong's GDP. On the surface, According to the Hong Kong Tourism Association's statistics, the visitors' contribution to GDP is only 6%. However, taking into account the fact that it is not a direct multiplication effect to the economy, I estimate that its contribution to GDP is no less than 12: 5%.

Another point is that visitors to Hong Kong are the leading economic indicators. Through the number of visitors to Hong Kong, we can basically deduce another important economic activity indicator - the trend of retail sales. "

After Zhou Hao's explanation, everyone came to a realization. Zeng Yingquan also held his chin and said, "The Tiger Fund really lives up to its reputation. It sees what others cannot and uses it as a breakthrough point to deal a fatal blow to the enemy. "

"In my opinion, compared to the Tiger Fund or Julian. . . Robeson is more powerful. " Ren Zhikang smiled and said, "It is difficult to play tricks. But it will be even more difficult to uncover schemes and plots. "

Chief Executive Dong nodded and smiled. "No wonder the chairman and the prime minister asked us to ask Zhou Hao more when we encountered a problem. The leaders really saw it right. "

Compared to these, the experts were more concerned about academic matters. After Zhou Hao demonstrated his "strength," They had long abandoned all contempt. They immediately surrounded him and hurriedly asked, "Zhou. . . Teacher Zhou, since contacting the exchange rate system has such an obvious and dangerous disadvantage, Should we really give up on the current exchange rate system and switch to other exchange rates systems? "

Zhou Hao did not know whether to laugh or cry when he heard that these fifty to sixty years old experts even called for" teachers. " However, the question they raised was indeed a crucial economic problem for Hong Kong, so he patiently said, "In fact, No exchange rate system is suitable for any economic system at any time, because no matter what kind of exchange rate system is implemented, The most important thing was that it had to implement the overall macroeconomic policy.

Ever since 1983, the exchange rate system has been effective in Hong Kong. I believe that it will continue to play the same role in the future.

As for the conversion rate system you mentioned, I believe that you have already thoroughly researched it. In fact, other rates are not the best choice for Hong Kong. I personally think that before the current economic system has developed to a large extent, the exchange rate system is the most suitable for Hong Kong. "

"But Teacher Zhou, didn't you say earlier that the rate system has obvious shortcomings?" An expert said, "Is Hong Kong going to suffer huge losses due to the rigidity of the rates system the next time a financial storm comes?"

Zhou Hao smiled and shook his head. "Although we can't use other rates, we can improve the exchange rate system. "

Then, everyone present, including Chief Executive Dong, Zeng Yingquan and Qin Bai, looked at Zhou Hao with shining eyes. Zhou Hao said, "We can strengthen the Money Bureau's mechanism, which will help to create a lower interest rate environment. The core content of this move was to replace the original liquidity adjustment mechanism with a discounting window. Under this new arrangement, The bank could use foreign currencies and bonds to transfer overnight funds to the Financial Management Bureau, which could indirectly increase the balance of the bank system by several times or even dozens of times. It could increase the liquidity of the bank.

And the Financial Bureau would announce the basic interest rates every day, which had a certain effect on the market. The basic interest rate will be the upper limit of the overnight rate, if the overnight rate is higher than the basic interest rate, The bank would not need to borrow money from the same industry in the market, and they would only need to use the foreign currency bills they had to be moved into the overnight funds through the discounted window. This way, it can relieve the pressure of the rising interest rate. At the same time, the government should also implement some measures to tighten securities and futures monitoring. For example, to prevent the selfiers from selling stocks at the stock market price and to strengthen the investigation and monitoring of illegal dumps. Increase the difficulty of the stock market. "

These measures were all improved by the Government of Hong Kong after the financial war in his previous life. Now, they were all used by Zhou Hao.

pqdm.com