Chapter 1043: The Securities Company and Bank That Came to the Door

MacLehose's pupils constricted, and he looked at Xia Yu, who was smiling, and understood Xia Yu's purpose in a second.

Xia Yu's words reminded him, and after quickly weighing his options, he decided to agree to Xia Yu's request.

Previously, he had also believed that the financial market in Hong Kong was too chaotic, and the situation of the four major stock exchanges coexisting had restricted the development of the financial industry in Hong Kong, which was why he had pushed for a merger of the four.

In fact, he was also dissatisfied with the people behind the four major exchanges who shirked responsibilities and fought for interests, but he had never had the right opportunity to warn them severely.

However, this stock market crash had not only had a huge impact on the listed companies in Hong Kong, but also severely damaged the four major exchanges.

However, although the merger of the four exchanges was promoted by the Hong Kong government, in order to truly implement it well, it is still necessary to convince the relevant stakeholders. At best, the Hong Kong government can provide a 'imperial sword'.

Therefore, MacLehose said to Xia Yu, 'Mr Xia, the executive power of the Joint Stock Exchange of Hong Kong is indeed very weak at the moment. If you have the right person, feel free to recommend him to me, and I will make the relevant adjustments.'

'But apart from that, the rest is up to you. I believe in your abilities.'

MacLehose's attitude was enough!

Xia Yu smiled and said gratefully, 'Governor, thank you!'

'Please be assured that the vast majority of people in Hong Kong want a good investment environment,'

MacLehose said happily, 'I'm relieved to hear that from you.'

'Haha...'

...

After a little more idle chat, Xia Yu saw that it was getting late and was about to say goodbye.

'Governor, it's getting late, so I won't disturb you anymore. I'll come again next time I have the chance to drink tea with you.'

'Sure, you're always welcome!'

The MacLehos saw Xia Yu and Li Qian to the door, smiling and waving as they watched Xia Yu's car drive off.

'I should be able to sleep tonight...'

After withdrawing his gaze, MacLehose let out a long sigh of relief.

These days, the stock market crash and banking crisis have kept him busy, and the large crowds gathering outside the Hong Kong government every day to petition for effective measures to curb the stock market crash have also put a lot of pressure on him.

He is already in his sixties, and his sleep quality is very poor. The tremendous pressure these days has made him unable to sleep every night.

Now Xia Yu, the true economic overlord of Hong Kong who has surpassed HSBC, is willing to take action, and he believes it will definitely be effective.

He suddenly became a little excited, wondering what Xia Yu would do...

Early the next morning, after Xia Yu had gone to work, he was planning to gather his subordinates to arrange the work when he unexpectedly received a call for help from his partner Feng Jingxi.

Because the matter involved was extremely important, Feng Jingxi, after learning that Xia Yu had time, hung up the phone after a few brief words, intending to visit Xia Yu in person to explain to him.

After hanging up the phone, Xia sat in his seat for a moment, thinking. Then he called Liu Tianci and Wang Qi separately, asking them in detail about the latest situation at Sun Hung Kai Securities and Sun Hung Kai Bank.

Feng Jingxi was probably really desperate, and less than ten minutes after he made the call, he arrived at Xia Yu's office.

Seeing Feng Jingxi's bloodshot eyes and somewhat emaciated face, Xia Yu was a little surprised, but he was relieved when he considered the current situation Feng Jingxi was facing.

'Mr Feng, please sit down! Here's some freshly brewed tea!'

'Thank you!'

Feng Jingxi said, took a sip from his teacup, and seemed to have drunk it a little too quickly, burning his mouth a little. Xia Yu had seen the whole thing.

Seeing Feng Jingxi in a bit of a quandary, Xia Yu smiled and asked, 'Mr Feng, you were a bit unclear on the phone, and it seems that things are a bit bad for you now?'

Feng Jingxi let out a sigh, looked at Xia Yu, and said bitterly, 'Mr Xia, it's all my fault for being too aggressive running the company, and it's led to this sorry state. I can't care about face or shame anymore. I've come here to ask for your help, I can't even save myself now!'

'If things go badly, both Sun Hung Kai Bank and Sun Hung Kai Securities could go under!'

'I've thought it over, and at this point, you're the only partner who can save me.'

Xia Yu looked grave and asked, 'Mr Feng, don't worry, I have a lot on my mind. I don't know much about the situation at Sun Hung Kai Bank and Sun Hung Kai Securities. Can you tell me the details?'

Feng Jingxi nodded and told him his situation: 'Mr Xia, the funds of the securities company have basically been locked up. The stock market crash was so violent that I didn't have time to respond. Many of the stocks I bought have fallen below the closing price, but I can't close the positions now.'

'Because the securities company received leveraged support from Sun Hung Kai Bank in terms of capital, Sun Hung Kai Bank has suffered huge losses.'

'And before that, I was also deceived by Chen Qingsong. I lent a total of HK$350 million to Carrian Property Company, and now with the bankruptcy of the Carrian Group, this loan has suffered heavy losses, at least HK$250 million.'

'The most important thing is the crisis of bank runs. Since the outbreak of the crisis of bank runs, depositors have withdrawn more than HK$300 million in deposits. Now the capital base of Sun Hung Kai Bank is in a critical situation, and now there is less than HK$80 million in reserves!'

'But the crisis has not eased at all, and the remaining cash of less than 80 million Hong Kong dollars simply cannot last long. I can't think of any other way to eliminate the crisis.'

'Investors in the securities company have also begun to demand the return of their investments from us, and we can only cope with the situation with difficulty.'

'Mr Xia, I am now at the point of being completely out of options!'

As Feng Jingxi continued to tell the story, Xia Yu's brows furrowed.

The situation was even more serious than what Wang Qi and Liu Tianci had said!

However, he did not blame Wang Qi and Liu Tianci for their thoughts.

After all, Jiuding Securities only held a 10% stake in Sun Hung Kai Securities, and they really did not have a lot of knowledge about Sun Hung Kai Securities.

Although Jiuding Bank holds 30% of the equity of Sun Hung Kai Bank, it has not seized control of the bank's operations, and it is normal that it does not know as much about Sun Hung Kai Bank as Feng Jingxi, the bank's chairman and president.

That being said, judging from the situation Feng Jingxi has described, Sun Hung Kai Securities and Sun Hung Kai Bank are both suffering heavy losses and are at great risk of bankruptcy.

He is capable of helping, and last night he also promised Sir Murray to prevent medium-sized and larger banks from going bankrupt. But what can he get in return?

After a thought flashed through his mind, Xia Yu pretended to be troubled and said to Feng Jingxi, 'Mr Feng, the situation of Sun Hung Kai Securities and Sun Hung Kai Bank is so serious, with a high risk of bankruptcy. Even if I want to help, it may not work!'

Feng Jingxi suddenly became anxious. He had no desire to analyse Xia Yu's motives.

As long as Xia Yu was willing to help him, otherwise if these two companies went bankrupt, he would lose everything.

He had already thought about it when he arrived, as long as Xia Yu was willing to help him, he was basically willing to agree to most of the conditions. After all, it was better than the two companies going bankrupt, right?

'Mr Xia, as long as you are willing to help, you can definitely help me.'

'And I'm not asking you to help me for no reason, I, Feng Jingxi, can't do that!'

Xia Yu's expression twitched slightly, and he lifted his teacup to take a sip, pretending to be nonchalant as he asked, 'Mr Feng, then what is your plan? You may as well speak up.'