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

Chapter 820 "819" Kwan Cho: I have confidence in Hong Kong Island! Citizens: Okay, now I have it too!

The sun was shining brightly.

A large number of reporters, including those from TVB and ATV, surrounded Guan Zu.

Oriental Daily reporter: "Mr. Guan, regarding the Soros Fund... I wonder what your opinion is on this?"

Numerous reporters also thrust their microphones towards Guan Zu.

They were all waiting for Guan Zu's answer.

"Regarding the Soros Fund..."

Guan Zu smiled slightly.
“The economy of Hong Kong Island is very different from that of Thailand. Thailand’s real estate and financial industries are highly developed, with huge bubbles, while other industries are very poor, which makes it very vulnerable to risks.”

"And Hong Kong Island has a healthy industrial structure, a healthy stock market, and healthy property prices..."

"More importantly, Hong Kong Island has ample foreign exchange reserves as a backing..."

"I have confidence in the citizens..."

"I have confidence in everything about Hong Kong Island..."

"Therefore, we are paying attention to the movements of the Soros Fund, but we are not panicking at all. Hong Kong's economy can withstand any test."

All the reporters breathed a sigh of relief.

Kwan Cho can be said to be the pillar of Hong Kong, and even the Governor of Hong Kong, Ashton, had to be his subordinate.

Guan Zu said he had confidence, so everyone had confidence.

These reporters didn't want their assets to shrink either, and now that Guan Zu had given them confidence, they couldn't help but feel relieved.

The following questions were mostly about the Soros Fund and the attack on the Hong Kong dollar, and the atmosphere was relatively relaxed.

……

noon,

ATV and TVB reported on what happened this morning.

TVB News Report:

"Good afternoon, everyone. The first batch of old building renovation projects, which started half a year ago, has finally yielded results today..."

"At 9 a.m., the first housing unit of the old building renovation project officially opened for sale."

The video shows the interior decoration and layout of the house...

Then, intermittent playback showed the original footage of the dilapidated Huaxia Men's Apartment...

In comparison,

The old building, with its mottled walls and outdated facilities, has now been transformed into a bright, clean, and well-designed new building...

"Several department leaders took the stage one after another..."

"Mr. Guan Zu reiterated the principle of 'housing is for living in, not for speculation,' and pledged to help more people realize their dream of owning a home..."

ATV News reports:

"After the opening ceremony, reporters also interviewed Mr. Guan Zu about the Soros Fund's progress..."

When asked whether he was worried about a potential attack on the Hong Kong dollar, Mr. Kwan answered with confidence.

"Mr. Kwan believes that Hong Kong Island's economic structure is completely different from that of Thailand. Its industries, stock market, and housing prices are all healthy, and with ample foreign exchange reserves, he has firm confidence in the people and Hong Kong Island."

……

Guan Zu has been absent from the media spotlight for more than 20 days.

These days, news of the Thai baht being targeted has caused widespread anxiety in Hong Kong.

The radio in the tea restaurant was always broadcasting news about currency market fluctuations. When neighbors met, the conversation always revolved around "Soros" and "whether the Hong Kong dollar would be in trouble." Even the old lady at the vegetable market couldn't help but worry.

Even though television news broadcasts experts' analyses, saying that there is no problem with Hong Kong Island and the Hong Kong dollar, the public still feels uneasy.

until today,

As the midday news aired, a familiar figure stood in front of the camera, speaking calmly, saying, "I have confidence in everything about Hong Kong Island" and "Hong Kong Island's economy can withstand any test."

Countless citizens across Hong Kong breathed a long sigh of relief as they watched television.

The appearance of Guan Zu carries a magical power, like a stabilizing force.

As citizens watched the figure on television, they suddenly felt that the speculations about the "financial crisis" were not so terrible.

The vegetable stall owner, watching TV, said confidently, "Mr. Guan said there's no problem, so there's definitely no problem."

The housewife picking vegetables next to her nodded repeatedly: "Yes, Mr. Guan said there's no problem, so I'm relieved."

In the office building, white-collar workers quietly loosened their clenched fists after seeing Guan Zu's speech in the news.

……

in the afternoon,

Hong Kong stocks rose in response.

Although the increase was not significant, it halted the recent slow decline.

……

Landmark,

Soros Fund Management.

Rodney Jones sat at his desk, his hand on the mouse, staring at the stock charts displayed on his desktop computer, his brow furrowed.

"Isn't this too outrageous?"

"This Guan Zu, just by making a statement, can he really boost the Hang Seng Index?"

Shock!

At this moment, Rodney Jones had to reassess Kwan's reputation in Hong Kong once again.

"Could he really be affecting our plans?"

He couldn't help but feel a little worried.

But now, Soros Fund and other funds have already invested more than 100 billion US dollars in the foreign exchange and futures markets in Hong Kong and want to withdraw?
What about a one-year forward contract?
With such exorbitant penalty fees, if the transaction is completed early, a large sum of money will have to be paid in penalty fees.

Not only will we lose a lot of money, but what about our reputation?

Surrender without a fight?

"I can only hope that things aren't as bad as I think..."

Rodney Jones thought for a moment and then called his secretary:

"Go and find out where that Guan Yu has been all this time."

"Yes!"

after an hour,

The secretary came to report: "On December 27th, I went to South Korea... then returned to Hong Kong Island, and then on the 16th, I went to Thailand..."

"and many more!"

Rodney Jones was jolted awake.
"went to Thailand?"

This made him think twice.

Did Guan Zu discover this in advance?

"understood."

Rodney Jones dismissed his secretary, pondered for a moment, turned on his computer, and spent an hour writing a report, which he prepared to send to the headquarters of the Soros Fund.

Just as he clicked send,
suddenly,

"Something's wrong! Boss, something's happened!"

The secretary rushed in.

Rodney Jones's heart skipped a beat: "What's wrong?"

Secretary: "Jerry was beaten up by a group of Hong Kong people while he was eating downstairs!"

Rodney Jones: "Huh?"

The people are simple and honest...and fierce!
……

……

As the Lunar New Year approaches, Hong Kong Island is gradually entering the festive atmosphere.

The festive atmosphere of the Lunar New Year is gradually becoming stronger.

Companies of all sizes across Hong Kong have begun to close for the holidays.

The Five Star Group was no exception; the entire group received year-end bonuses and had a New Year's Eve dinner. February 5th...
Guan Zu, accompanied by Ruan Mei and Prince Guan, arrived in the capital and met with the leaders.

On February 6, I continued to meet with other leaders.

In the evening, I watched the Spring Festival Gala with a certain leader at the live broadcast.

then,

That evening, people across the country noticed that television cameras were constantly focused on Guan Zu's table.

……

Shaanxi.

A village.

The cold wind of December, carrying snowflakes, swept across the Loess Plateau, but it couldn't dispel the increasingly festive atmosphere of the Lunar New Year in this small village in Shaanxi. Bright red Spring Festival couplets had already been pasted on the doorframes of every household, and some even hung lanterns.

The village chief's house was packed with villagers.

Outside, a group of kids were playing with firecrackers, divided into two teams, each trying to set off another, blowing up snowdrifts, cow dung, and the like. They were having a great time in the pitch black, even with the help of the moonlight.

Inside the house, a group of adults were watching the Spring Festival Gala.

When the camera panned to Guan Zu's table, the room erupted in chaos.

"Isn't that... isn't that Mr. Guan?!"

Suddenly, the old village chief on the kang (a heated brick bed) slapped his thigh, and his pipe slammed onto the kang table with a thud.

"That's right! It's Mr. Guan! The Mr. Guan who came to our village that year!"

The room erupted in chaos.

Old Man Tiedan tiptoed forward and exclaimed in delight, "It really is Mr. Guan!"

Many villagers cheered.

"If it weren't for Mr. Guan, our child would still be attending classes in a drafty mud-brick house!"

"Yes, the children are all studying hard..."

at this time,

On television, the host introduced Kwan Cho: "For this year's Spring Festival Gala, we have invited many compatriots from Hong Kong Island... Many viewers will surely recognize him; he is none other than Mr. Kwan Cho from Hong Kong Island..."

Guan Zu waved at the camera.

The villagers inside the house got excited, and some even waved excitedly at the television.

at this time,

In Sichuan, a large number of people expressed their gratitude to Guan Zu for his donations and investments in the province. When they saw Guan Zu waving in front of the camera, they cheered and waved back.

……

On Hong Kong Island, however...
The ATV Spring Festival Gala opened with a performance of "Gong Xi Fa Cai" by Ahua, Wah Di, Yu Shuntian, Li Changjiang, Xie Weihao, and other Ahua artists.

Then, towards the end of the Spring Festival Gala...
Because Guan Zu was in the capital, Gao Jin addressed the entire Hong Kong.
Gao Jin, dressed in a sharp suit, may not have been as dazzling as Guan Zu, but he still exuded extraordinary charisma.
Hello to all citizens of Hong Kong!

"Today, on behalf of Mr. Kwan Cho-kwan and the Five Star Group, I would like to extend my warmest New Year greetings to the more than 500 million citizens of Hong Kong..."

"This year, Hong Kong Island has undergone tremendous changes..."

"It has promoted the renovation of old buildings, so that citizens do not have to risk their entire savings due to skyrocketing housing prices, and that every family has a place to live..."

"The affordable housing project continues to move forward..."

"They acquired China Land Group and Meigao Electronics, and distributed shares to all citizens of Hong Kong..."

"The Central Plaza project, the Five Star Supermarket project, Five Star Bank, China Harbour Group, Chinese Estates Holdings... all dividends have been paid in full..."

"The northward expansion plan continues to advance, leading 105 companies to establish factories in the mainland, all of which have achieved very good results..."

"Further progress has been made in the drainage pipe network..."

He gave a lengthy account of what happened in 1996.
Then looking to the future,

"1997 will be the most important year for Hong Kong Island..."

"This is not only the end of an era, but also the beginning of a new chapter. Five Star Group will stand with all the people of Hong Kong at this historical juncture to embrace a brand new future for Hong Kong Island."

Gao Jin's voice, steady and powerful, traveled through the microphone to every household on Hong Kong Island.

"In 1997, Five Star Group will join hands with more local enterprises to create an industrial cluster with Hong Kong Island characteristics, and move north to take advantage of the mainland's superior human resources to further unleash Hong Kong Island's economic potential and enhance Hong Kong Island's competitiveness in the international market."

"We want the world to see that Hong Kong Island after its return to China is still the dazzling Pearl of the Orient, and even more dazzling."

"Finally, I wish all Hong Kong citizens a prosperous Year of the Ox, happiness for your families, good health, and all the best!"

After speaking, Gao Jin bowed slightly to the camera.

A round of enthusiastic applause erupted from the audience.

A round of enthusiastic applause erupted throughout Hong Kong.

No citizen would find this statement presumptuous, because Five Star Group is deeply intertwined with the people of Hong Kong Island.

What's wrong with Five Star Group representing all of Hong Kong?
Soon, it was 24:00, and the bell rang.

Fireworks continued to light up the sky above Victoria Harbour.

Happy Chinese New Year!

Welcome to 1997!

……

……

During the Lunar New Year in Hong Kong Island,

However, the Soros Fund did not stop.

the Philippines,
At this time, the Philippines' economy was highly dependent on exports and had a simple industrial structure. Against the backdrop of widespread market panic triggered by the attack on the Thai baht…

On February 9, the Soros Fund and other international funds collectively sold off the peso, creating an atmosphere of panic.

The Philippine central bank was forced to deplete its foreign exchange reserves to defend exchange rate stability.

This is exactly what Soros and other funds wanted—to significantly deplete foreign exchange reserves!
……

Malaysia,

The country's economy is overly reliant on foreign investment, and there are serious bubbles in the real estate and stock markets.

Soros and other funds used the same method: spreading negative news to disrupt market confidence, and then began to operate simultaneously in the foreign exchange and stock markets.

A massive sell-off of Malaysian Ringgit (MYR) followed by a massive sell-off of Malaysian company shares on the stock market—a two-pronged approach…

Suddenly, investor confidence was shaken, and there were signs of a large amount of capital fleeing the country. Although the Malaysian government has taken a series of measures to strengthen financial regulation, it is under increasing pressure in the face of the strong offensive of international speculative capital.

……

India also has a huge amount of foreign debt, with companies overly reliant on foreign loans and facing significant exchange rate risks.

International speculators, including the Soros Fund, continue with their three-pronged approach...

……

There has been no movement from Hong Kong, Japan, and South Korea for the time being.

……

February 12th, the sixth day of the Lunar New Year,
First day at Five Star Group
Guan Zu spent the entire day handing out red envelopes to start the work year, at the Five Star Group headquarters, five Five Star supermarkets, ATV, China Harbour Group, Ming Sin Hospital, Five Star Electronics, the computer R&D center...

I was running all day.

……

On February 14, the Thai baht plummeted to its lowest point in 10 years, with 1 US dollar being worth 28.18 baht.

This figure broke the record low since December 1986, plunging the Thai currency market into panic.

This directly contradicted Thailand's Finance Minister Nong Chan, who had declared, "Our economic foundation is solid and speculators cannot shake it."

However, Thailand has also launched a second round of counterattacks, in addition to using a large amount of foreign exchange reserves to stabilize the exchange rate.

On the other hand, the Bank of Thailand raised short-term interest rates, a move that significantly increased the cost of borrowing Thai baht for speculative capital.

However, such high interest rates also have a problem: domestic enterprises will face increased costs and large-scale bankruptcies due to high interest rates, and the domestic economy will further deteriorate.

Fighting each other!

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P.S.: I've already added the image from the monthly pass bonus chapter (this chapter says to post images in the comments, not in the main text).

(End of this chapter)