Chapter 361: Response

After dropping this meaningful remark, Xia Yu walked out with Wang Qi without looking back. Someone tried to stop them but was pushed aside by Li Wuming.

Watching Xia Yu leave so arrogantly, the people present were furious, with red faces. One person said to Chairman Benjamin Weebron, "Chairman, Xia Yu is too arrogant! We must punish him!"

"Punish him with what?"

Benjamin Weebron sighed, showing fatigue, and suddenly countered the question.

"Uh... We report to the Governor, asking the Governor to sanction him, and request that the Governor expedite relevant regulations."

The person hesitated, thought for a few seconds, and reluctantly said.

Benjamin Weebron was deeply troubled by Xia Yu's meaningful reminders. Although they were the Hong Kong Securities and Futures Commission, it was very difficult for the Yi He consortium to use him to trouble Xia Yu. In fact, it would be more effective for the chairpersons of the major exchanges to approach Xia Yu.

However, he couldn't refuse and had to muster the courage to trouble Xia Yu. Now that he had indeed stirred up trouble, it was inevitable that Benjamin Weebron felt frustrated.

At this point, it is necessary to introduce the Hong Kong Securities and Futures Commission.

The Hong Kong Securities and Futures Commission, officially known as the Securities and Futures Commission of Hong Kong, is a statutory organization independent of the government civil service structure, responsible for regulating the operation of Hong Kong's securities and futures markets. The purpose of the Commission's establishment is to promote the development of Hong Kong's securities and futures markets towards fairness, efficiency, and order through effective regulation and guidance.

However, while the vision is good, its implementation is fraught with difficulties.

In reality, Hong Kong's securities industry is still quite young.

Before the 1970s, Hong Kong had established the Hong Kong Club for small-scale stock listings and trading activities. It was not until the 1970s that the stock market began to become an important method of capital raising in Hong Kong.

Due to its short history, Hong Kong's securities regulatory system was not yet complete and had many loopholes and shortcomings.

Before the mid-1970s, Hong Kong's securities and commodities markets were largely unregulated. After the stock market crash of 1973-1974, the Hong Kong government first intervened and then established core legislation regulating the securities and futures industries.

To this end, the Hong Kong government created a regulatory framework composed of two part-time departments: the Securities and Commodities Trading Regulatory Commission and the Securities and Commodities Trading Supervisory Commissioner's Office.

These two departments combined formed the Hong Kong Securities and Futures Commission.

However, since both departments were part-time, it reflected the Commission's limited authority and prestige.

The "Securities and Futures Commission Ordinance" was not even fully developed, making it somewhat forced to criticize Xia Yu for manipulating stock prices. This is why Xia Yu was unrestrained.

According to history, it was not until 1986, when the four exchanges formally merged and the Hong Kong Stock Exchange was officially launched, that explicit regulations were established, and they were further improved in 1989.

The fact was that Hong Kong's securities regulatory system was far from perfect, even after the Hong Kong Stock Exchange was established in 1986. Due to numerous flaws and a failure to keep up with the times, many problems were exposed during the 1987 stock market crash, resulting in severe losses.

Only after substantial damage did the regulatory system undergo significant improvement after May 1989.

Today's Commission even has a name that seems informal, and it is still not a full-time department. Its influence on Hong Kong's securities industry is still less than that of the boards of various exchanges.

With such limited capability, they jumped out to be the spearhead for the Yi He consortium. Xia Yu naturally had no intention of giving them face.

This time, voluntarily coming to the Commission was also to make things clear once and for all, to avoid wasting time and energy on unnecessary matters later.

After leaving the Hong Kong Securities and Futures Commission, Xia Yu and Wang Qi sat together in the back seat of the car. Xia Yu said to Wang Qi, "Wang Qi, after returning, continue manipulating the stock prices. Arrange for people from several major companies to aggressively grab stocks and land. The Yi He consortium wants to create trouble for us and keep us busy; we mustn't let them succeed!"

"Understood!"

Wang Qi replied solemnly, his heart also burning with anger.

Xia Yu nodded slightly, saying no more, and leaned back in his seat, his eyes slightly squinted as his mind raced to devise a response strategy.

The trouble caused by the Yi He consortium mainly came from the Xingdao News Group issue. The rest were just to annoy Xia Yu and divert his attention, making him stretched thin so that they could seize the time and regain the initiative.

Indeed, Xia Yu was quite annoyed. His dislike for the Yi He consortium grew stronger, and he secretly decided to deal with them more ruthlessly when the time came!

"Wait, it's coming soon!"

Xia Yu thought to himself.

With that, Xia Yu closed his eyes and contemplated, trying to sort out his thoughts.

Throughout this day, the continuous emergence of problems had exhausted Xia Yu mentally, even though his training in ancient Tai Chi made him more resilient than most.

Suddenly, Xia Yu had a thought. He opened his eyes and ordered Wang Qi, "Wang Qi, after returning, immediately list out the government shareholders from our five major funds and provide me with a detailed list."

"Especially the shareholders from important departments like the General Administration of Press and Publication, the Business Registration Office, the Department of Justice, and the Independent Commission Against Corruption. Ensure the list is accurate and deliver it to me immediately once compiled! Also, provide me with the fund performance details!"

Xia Yu reiterated his instructions.

"Got it!"

Wang Qi immediately agreed, having guessed the purpose of the list and performance report.

With the General Administration of Press and Publication, the Business Registration Office, the Department of Justice, and others potentially causing trouble, the purpose of finding this list was to create internal constraints among them.

If the Yi He consortium could find these departments to trouble Xia Yu, Xia Yu could also do the same, limiting the struggle to their internal departments.

Though the short time might mean a lack of accumulated strength and these shareholders might not be able to stand up to the Yi He consortium's people, Xia Yu didn't care. As long as there were allies, it was enough. They didn't need to win; they just needed to delay for a few days, which would crack the Yi He consortium's conspiracy.

A few days would be enough for Bao Yugang, Li Jiacheng, and others to prepare. Then it would be Xia Yu's turn to show his strength.

By then, the Keswick family would be in a mess, and they wouldn't have the energy to trouble Xia Yu anymore!

After returning, Xia Yu worked tirelessly, visiting company after company to calm employees and instruct managers to be prepared for any potential issues.