Hong Kong Movies: You Hongxingzi, what the hell is the charity king?

Chapter 775 "774" Press Conference: Guan Zu Angrily Scolds Bankers and Real Estate Soros...

Once the plan was finalized, Guan Zu felt a sense of clarity and peace throughout the world.

pick up the phone.

"Chicken, use the intelligence network and send someone to investigate this period of time..."

Guan Zu told Shan Ji about the targets one by one.

Pheasant: "Okay, Brother Zu!"

After hanging up, Guan Zu called Da Tou again: "Da Tou, have all branches of Five Star Property investigate their respective areas, compile a list, and also find out the owners of the buildings. Three days!"

Big Head: "No problem, Brother Zu!"

After hanging up the phone, Ah Xing asked, "Brother Zu, did you find a way?"

Guan Zu smiled and said, "Found it."

Ah Xing exclaimed in surprise, "Then doesn't that mean we didn't make a mistake in worshipping Wong Tai Sin?"

Guan Zu laughed heartily: "Huang Daxian is very good, but I prefer to believe even more—in going among the people."

If he hadn't said he wanted to go out and see the world, he probably wouldn't have seen a building like the Huaxia Men's Apartment, nor would he have had that sudden inspiration.

His usual routes are through bustling areas, where you wouldn't find old, dilapidated buildings.

Guan Zu thought for a moment, then made another call to Xinhua News Agency.

Regarding land supply, he needs to consult with his superiors and see what their opinions are.

……

……

Just as Guan Zu took action,
Soros's team and various real estate developers are still on the move: speculating! Speculating! Speculating! Speculating!
They constantly bombarded the nerves of Hong Kong Island residents through the media, creating a sense of urgency for them to buy a house.

……

Haiyi Peninsula residential community
Located in the western part of Ap Lei Chau in the Southern District of Hong Kong Island, this is a residential complex jointly developed by Cheung Kong Group and Mr. Cheng. It consists of 34 buildings and was completed in four phases from 1992 to 1996.

Originally, this project was supposed to be developed by the Yangtze River Group itself, but after being challenged by Guan Zu several times, it suffered serious damage, with a shortage of funds and delays in construction. In the end, they brought in Boss Zheng to jointly develop the second, third and fourth phases.

第4期的25-28，32-33A座名为御庭园，是新开楼盘。

Nowadays,

Models Ling Zuer and Ling Shanshan, sisters, came here to look at apartments.

They were all influenced by the media reports of the housing boom and were extremely anxious.

As soon as I arrived at the entrance of the residential area, the real estate agent, Xiao Li, greeted me with great enthusiasm.

"Are you Miss Ling? Just call me Xiao Li~~~"

"Miss Ling, you're even prettier than on the cover~~~"

As soon as the agent, Xiao Li, picked up the two people, he started talking non-stop.

“Our South Horizons is a rare find on the entire Hong Kong Island. Look how well the landscaping is done in the community, and the air is incredibly fresh.”

"Moreover, most of the buildings are built along the coast. If you two buy a house, you'll have an unbeatable sea view when you open the window. The view is absolutely amazing!"

As they entered the residential area, Xiao Li continued his introduction:
"This residential complex was built in four phases, and the newest phase, Royal Garden, is the best of the best... It opened for sale the day before yesterday, and more than 70% of it has already been sold. It is estimated that it will be sold out in the next two days!"

"Miss Ling, as you've seen, housing prices have been rising recently. If you want to buy, you should do so as soon as possible."

Introductions along the way,
Finally, we arrived at the sales office.

At this time, the sales office was already packed with people and bustling with activity.

Local residents were either discussing the floor plans enthusiastically or asking the sales staff various questions.

In the signing area, a gentleman was signing something.

The salesperson shouted, "Congratulations to this gentleman for successfully purchasing one unit! Another sale completed!"

Although Ling Zuer suspected they might be planted, she was still inevitably influenced.

Xiao Li kept advising, "Miss Ling, these new houses in Haiyi Peninsula are becoming increasingly rare."

"Also, don't be fooled by how popular the first-hand market is; the second-hand market is also extremely popular."

"Recently, the homeowners in the community have been constantly raising their prices."

"Take yesterday's secondhand property transaction for example. A client hesitated for a day, but came back the next day. For the same apartment, the seller directly asked for 50 more. You two have such good eyes, so don't miss this great opportunity. Make a decision quickly, and you'll definitely be secretly happy later."

"Buying it now is like making a profit!"

Ling Shanshan tugged at her sister's sleeve and whispered, "Sis, I think this house is really nice, how about we..."

Ling Zuer looked at the house, her eyes revealing hesitation and excitement, unable to make a decision for a moment.

At last,
"Let me think about it."

Reason kept her calm and prevented her from rushing in.

The reactions of the Ling sisters are just one example among many homebuyers on Hong Kong Island; similar scenes are playing out across the island.

……

Three days passed in the blink of an eye.

Just when Hong Kong was experiencing a housing boom,
Kwan Cho was finally ready, and then notified all the media in Hong Kong to hold a press conference inside the Legislative Council building.

……

6 month 7 day,
Legislative Council building, press conference hall.

The hall was already packed with people.

Reporters from major media outlets across Hong Kong arrived early, armed with cameras and microphones, creating a lively and enthusiastic atmosphere.

The reporters whispered among themselves.

"Mr. Kwan actually chose to hold a press conference at the Legislative Council building this time..."

"Didn't the notice say it was about the recent real estate boom?"

"The housing market has gone completely crazy lately. Developers and speculators are frantically buying up properties, and prices keep soaring. I don't know when it will end."

"Yes, I can't afford a house anymore."

"We hope Mr. Guan can crack down on these speculators."

Just then, the stage lights suddenly brightened, and Guan Zu steadily walked onto the stage under the watchful eyes of the crowd.

"Good morning, everyone from the media..."

The audience fell silent instantly.

All the reporters focused their attention on him, pointing their recorders, cameras and other equipment at Guan Zu.

"Today, I stand here as the Chairperson of the Legislative Council and as a citizen of Hong Kong Island to hold this press conference..."

"The real estate sector has been very active since May."

"News stories are emerging one after another, and without exception, they all point to—property speculation!" "Some forces, for their own selfish interests, have joined together and are using any means necessary to manipulate public opinion and drive up housing prices!"

"Today, I stand here to expose and condemn this heinous act that disregards the people's livelihood!"

Guan Zu's voice was loud and clear, his tone full of indignation.

"First of all, look at what you've done! 'Hong Kong Island's land resources are depleted: New housing supply will plummet by 50% in the next 10 years!' Where did this so-called 50% come from? Xinhua News Agency? Or somewhere else?"

"Yesterday, I spoke with the leaders of Xinhua News Agency, and they clearly stated that land supply will not decrease. Therefore, the South China Daily is using such a sensational headline, coupled with false data, in an attempt to create panic and fuel speculation about skyrocketing housing prices. What are your true intentions?"

“I hope the Information Department will take this issue seriously and punish the South China Daily in accordance with the Publication Administration Regulations, the Press Card Management Measures and other laws and regulations.”

"At the same time, I call on the citizens of Hong Kong Island to resolutely boycott this newspaper that inflates housing prices and lacks corporate conscience!"

Guan Zu was filled with righteous indignation.

He certainly wouldn't just criticize the South China Daily verbally, so he directly called on citizens to boycott it.

If you disregard the interests of the citizens, then it is only natural for me to call on the citizens to boycott you.

Offstage,

Many reporters looked toward a certain area, which was where the South China Daily reporters were located.

Reporter from the South China Daily: "…………"

Feeling the gazes around me, I wished I could disappear into a crack in the ground!
and,

If citizens really boycott it, wouldn't the sales of the South China Daily plummet?

"There's also the article in the Asian Wall Street Journal titled 'After 97, a large number of mainland tycoons will flock to Hong Kong Island to buy houses, and luxury house prices may double this year!' This is completely unfounded and made up, just to make citizens anxious and blindly follow the trend to buy houses."

"There are other newspapers, but I won't name them all..."

Guan Zu's gaze swept across the entire audience.

"Do you have any respect for the people of Hong Kong? Do you have any respect for the land you are rooted in?"

"Besides newspapers,"

"I want to specifically criticize the banks here!"

"HSBC, Standard Chartered, and those so-called asset management companies, you are all in cahoots! You use professional jargon to package false data, deceive the public, and mislead the market. Your intentions are despicable!"

"Furthermore, what's even more outrageous is that banks like HSBC and Standard Chartered have launched so-called 'ultra-low down payment schemes' to induce citizens to take out high-leverage loans to buy houses. They have forgotten the drawbacks of doing so. Once the real estate market fluctuates, Hong Kong's financial system will face catastrophic consequences!"

"The actions of these banks and asset management companies have seriously disrupted the financial order. In my capacity as the Legislative Council Chairman, I urge the Hong Kong Monetary Authority and the Securities and Futures Commission to promptly investigate and impose fines where appropriate and revoke licenses where necessary. We will show absolutely no leniency!"

The reporters became excited.

What a bunch of lowlifes, the South China Daily!
HSBC and Standard Chartered, that's more like it!
Guan Zu has been "cultivating himself" for the past year and hasn't made any big moves. But this time, he's finally here!
Hong Kong Island is about to get lively!

Previously, HSBC was too behemoth, so reporters might not have dared to report on it too much. Now, HSBC is something that Mr. Guan can mold and manipulate. As long as one stands on Mr. Guan's side, HSBC is nothing.

At this point, Guan Zu added: "Furthermore, I hope that citizens can see through the unscrupulous behavior of banks such as HSBC and Standard Chartered, and protest or boycott these banks."

Government punishment alone is not enough.
Guan Zu wanted to teach them a lesson.

Boycotts and protests will cause you to lose your popular support.

"Besides the bank, there's another company..."

"That's Soros Fund Management."

Guan Zu's voice echoed in the hall.

"According to the information I have, the entire housing speculation plan was orchestrated by them. They colluded with various forces, bribed so-called economic experts, colluded with real estate companies and banks, and even continuously created fake transactions to create the illusion of soaring housing prices."

"In just one month, Hong Kong property prices have risen by 13%. If this speculation continues, will ordinary citizens still be able to afford a house?"

The reporters in the audience whispered among themselves, discussing the matter animatedly.

Many young journalists were secretly thrilled, because they hadn't bought a house yet, and how could they afford to buy one if prices were so high?
"also……"

"In my capacity as the Legislative Council Chairman, I am specifically criticizing several real estate companies, including New World Development, China World Property, Kerry Properties, Wharf Holdings, and Cheung Kong Holdings..."

Guan Zu's gaze was cold and stern as he named seven or eight real estate developers in a row.

“I have sufficient evidence to prove that these real estate developers colluded to hoard properties and drive up prices… although they have done nothing wrong from a commercial or legal standpoint.”

"However, considering the collaboration between banks, Soros Fund Management, and the media, they are clearly suspected of maliciously manipulating the real estate market, creating an atmosphere of panic, and profiting from it!"

"This behavior has severely disrupted the normal order of Hong Kong's real estate market, harmed the vital interests of the general public, and is a blatant trampling on fairness and justice in Hong Kong society!"

The sound is sonorous and powerful.

These real estate developers, eager to make exorbitant profits, thought that a simple phone call would suffice to prevent Guan Zu from taking notes.

So naive!
Expose them, condemn them, and get the citizens to boycott them.

As businessmen, if their reputation is damaged, can they still boast about their corporate culture and make grand pronouncements about "serving the people's housing problems" as before? People will probably think twice before buying their houses or products.

The interview segment came quickly.

A TVB reporter couldn't wait to ask, "Mr. Kwan, do you think housing prices will continue to rise in the future?"

Guan Zu: "With economic growth, rising housing prices are inevitable, but I hope that these prices can be kept under control."

Ming Pao reporter: "However, there is currently a housing shortage, and a large number of citizens have housing needs. This time, there is even panic buying to 'get on board as soon as possible.' Mr. Kwan, do you have any strategies to resolve this situation?"

Guan Zu said seriously, "This point was originally supposed to be the second topic of this press conference, but since we've come across it here, I'll announce my next plan to the media first."

what?
Is there a second topic?
All the reporters were invigorated.

Guan Zu's gaze swept across the entire audience, his face solemn:
"Currently, I have three plans in place..."

"first……"

"Next, in my capacity as the Legislative Council Chairman, I will convene a meeting with the heads of the Development Bureau, the Lands Department, and the Housing Bureau to discuss plans to increase the construction of low-rent and affordable housing."

"Secondly..."

"I have spoken with the leaders of Xinhua News Agency, and they have made it clear that after 1997, they will increase the approval of land for low-rent housing and affordable housing, and promote the 'housing for all citizens' plan."

All the reporters nodded in agreement.

This can indeed alleviate the anxiety of citizens.

But it's not enough!

Far water cannot quench near thirst!
"But that's not enough!"

“These low-rent and low-cost housing units have a very long construction period. Even after the first batch is completed, it will take at least a year, and even 10 years will not solve the fundamental problem for citizens. So I will promote another plan.”

All the journalists were energized.

"This plan is called—the Old Building Renovation Plan!"

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P.S.: Chapter Two will be released later.

(End of this chapter)