Chapter 440: Perfecting the Basics

There is an old saying in China: Blessings and disasters go hand in hand, and financial crises are always hidden in the midst of a raging crisis.

Wang Deming, who has the memory of his past life, has been waiting for the stock market crash in Hong Kong.

During the last stock market crash in the 70s, Wang Deming successfully took over two major trading companies, Wheelock & Co. and Hutchison Whampoa.

Unfortunately, after seeing the end of these two major foreign companies, Jardine Matheson and Swire were like frightened birds and operated their businesses very steadily.

Wang Deming knew when to quit in the last stock market crash and did not provoke the British too much, because his next plan was to return to the UK.

Of course, it would not be impossible if he was willing to make full use of his golden finger that could read people's hearts and continue to influence both Hong Kong and the UK.

But there is no need for that. He who laughs last laughs best.

What's more, Wang Deming has a bigger goal this time.

Wang Deming was sitting firmly on the Diaoyutai. Apart from giving face to Mr. Pao by handing over Hutchison Whampoa to him, other companies including Jardine Matheson and Swire were also making efforts in secret.

At the Wang's Manor in Taiping Mountain, Wang Deming, Mr. Bao, Mr. Huo and others gathered again.

"De Ming, you gave the Wharf to Mr. Bao. Do you have any other potential stocks? Don't you think about me, Brother Dong?"

Because everyone in this small circle was already very familiar with each other, Mr. Bao directly told the story of Wang Deming giving up Hutchison Whampoa.

When others heard this, they were all envious. Jardine Matheson's two major real estate industry pillars are Hong Kong and Wharf Holdings, while Jardine Matheson's main business is actually shipping and trade.

In fact, it is not just Jardine Matheson, the other three major foreign companies also focus on shipping and trade.

The reason these four major foreign companies became rich was because they relied on Sino-foreign trade during the Republic of China period. They took advantage of the fact that foreign businessmen were superior to others in China during the Republic of China period and had the support of people at that time, or in other words, they colluded with both internal and external forces to plunder China's wealth continuously.

Marx said that capitalism is naked plunder, especially when it comes to the first pot of gold. The four major trading companies got their start by selling opium.

Although these four major trading companies moved to Hong Kong after the founding of New China, the business they did remained the same.

It’s just that there are more monopoly industries such as real estate and electricity.

Because of this, Wang Deming has always had a thorn in his heart, so he has always been thinking about cleaning up the four major foreign companies in Hong Kong.

Wang Deming laughed after hearing Mr. Huo's joke, "Brother Dong, you are also mainly engaged in ports and real estate, and you happen to be in competition with me, your brother."

"Our friendship is friendship, and business is business."

"Haha, you kid." Mr. Huo laughed heartily. The reason why he said that just now was because he noticed that other people's expressions were subtle, so he simply brought the matter up.

It also saves people from feeling uneasy.

When Mr. Huo said this, everyone present laughed.

Mr. Bao also said: "It is because of this oil crisis that I have to prepare for a rainy day and prepare to go ashore."

"To thank De Ming, I gave up my position as the largest shareholder of Universal Shipping. In addition, De Ming is also the second largest shareholder of Wharf Holdings."

When everyone heard that Mr. Bao actually gave up the controlling stake of Universal Group in order to get ashore, the discomfort in their hearts instantly disappeared, and they began to admire Mr. Bao's decisiveness.

No wonder Mr. Bao surpassed the Greek shipping magnate and became the world's shipping magnate in just 20 years.

In order to win him over, the Queen of England specially awarded him an honor.

After Mr. Bao explained, Mr. Huo talked about the purpose of this gathering: "De Ming, your targets must be Jardine Matheson and Swire. Do you have any other targets?"

"Don't let us not inform each other in advance, and instead start fighting among ourselves." Others also quickly said, "That's right!"

"De Ming, we listened to you this time. We have already expanded our shares and raised funds in the stock market. We have hundreds of millions of Hong Kong dollars in cash."

"We are preparing to make a fortune."

"But we know we can't win against you. What other goals do you have? We have to stay away from you."

"Haha, that's not so exaggerated. You are all my predecessors!" Wang Deming said modestly before stating his last goal: "You all know that I acquired Hang Seng Bank and Far Eastern Bank and reorganized them into the new Hang Seng Bank."

"But the biggest problem is that we don't have the right to issue banknotes!"

“So no matter how Hang Seng Bank develops, it will never catch up with HSBC.”

As soon as Wang Deming said this, Mr. Bao, one of the directors of HSBC, immediately exclaimed: "Standard Chartered Bank!"

"That's right!"

Several people were shocked by Wang Deming's generosity.

If Wang Deming could take over Standard Chartered Bank, the Chinese forces in Hong Kong would be able to compete with the British, at least at the economic level.

HSBC's role in Hong Kong is that of a central bank. It was originally established by more than a dozen foreign banks.

However, as time went by, Jardine Matheson became the largest shareholder in the eyes of the public, but it only held less than 10 points of shares.

But the British are used to playing the balancing game, so how could they allow one bank to dominate the market?
So Standard Chartered Bank was given the right to issue banknotes.

A few years later, after the Sino-British negotiations in 84, Bank of China became the third bank to issue notes.

No matter what era, printing money is the most profitable way.

After hearing Wang Deming's goal, everyone first congratulated him. Since Wang Deming had stated his goal, it must be almost certain.

The remaining few people began to communicate their targets.

Mr. Bao has already decided on Wharf Holdings, while Mr. Huo has set his sights on the telephone company.
"Haha, it seems like we are having a meeting to divide the spoils!"

"Haha, we are dividing the British spoils!"

Originally, Wang Deming judged that the spring of 81 should be a turning point for the Hong Kong stock market. Unexpectedly, the British HSBC Bank, Jardine Matheson, and several Justices of the Peace actually formed a Qingyuan Group to go to the capital.

After they returned empty-handed, the Chinese Chamber of Commerce also organized a Qingyuan delegation. What made Wang Deming most angry was that the convener of the Qingyuan delegation was ostensibly the Chinese businessman Li Pengfei.

Although the Qingyuan delegation did not achieve its goal, the Hong Kong stock market was instantly shaken.

The banking union in Hong Kong announced an interest rate hike to 12%, which directly caused the Hong Kong stock market to decline.

These Chinese who had forgotten their ancestors formed the Qingyuan Group, but Wang Deming did not tolerate them and directly shorted the businesses of these leaders' families in the stock market.

In order to save these Chinese companies, the British mobilized British trading companies in Hong Kong to provide support.

Unfortunately, they did not expect that Wang Deming would immediately withdraw from these companies and announce in the newspaper the acquisition of Jardine Matheson.

Not only Hong Kong, but also the UK was shaken.

Before they could make any move, Wang Deming had already secretly taken over Standard Chartered Bank
(End of this chapter)