I Want To Be a Rich Man on Hong Kong Island

According to the "Company Law" of Hong Kong Island, Wu Guangyao wanted to establish the "Kowloon Stock Exchange".

From a historical point of view, the establishment of the 'Kowloon Stock Exchange' not only broke the post-war pattern of the 'Hong Kong Island Club' monopolizing the Hong Kong Island stock market; Hong Kong Island's stock market has experienced an era of 'a hundred schools of thought contend and a hundred flowers bloom'.

Judging from the actual situation, when the "Hong Kong Island Club" monopolized the stock trading on Hong Kong Island, Chinese capital (Chinese) was excluded, so they needed to find another space, and even some Chinese capital enterprises were very confrontational. Dissatisfied with the consistent style of the Hong Kong Island Club; once the "Kowloon Stock Exchange" is established, it will be much easier for Chinese-funded enterprises to raise funds in the future!

It can be said that the establishment of the 'Kowloon Stock Exchange' is the general trend, and Wu Guangyao just ignited this spark!

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The news of the upcoming establishment of the Kowloon Stock Exchange caused a great shock in Hong Kong Island society, and stockbrokers and securities dealers were extremely nervous because they were worried that the new exchange would affect their business.

Wu Guangyao was quickly followed by a large group of newspapers, and they crowded under the office building in the Yangtze River Center. Everyone asked for an interview with Wu Guangyao;

Under the security guard, Wu Guangyao came to the lobby on the first floor of the Changjiang Center office building and accepted the interviews.

Many reporters asked Wu Guangyao to verify whether it is true that he took the lead in establishing the Kowloon Stock Exchange?

Wu Guangyao said: "After the war, Hong Kong Island has developed for fifteen years, and the number of companies and the amount of foreign trade have undergone earth-shaking changes; but our listed companies have always remained at more than 50. Some high-quality companies want to Expanding operations, but no source of funds. May I ask, is this in line with the law of economic and social development? Therefore, the establishment of the Kowloon Stock Exchange is imperative! And I am just a leader, and you will see the Kowloon Club later. The real face!"

Although Wu Guangyao did not affirm that he is the chairman of the Kowloon Stock Exchange, he told everyone a fact: the slow development of the listed company system on Hong Kong Island has seriously hindered the economic development of Hong Kong Island. It must be done!

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Regarding Wu Guangyao's plan for the stock exchange, newspapers such as the South China Morning Post and The Star interviewed some stockbrokers and businessmen to understand their views on the new exchange.

Overall, the majority of these respondents were conservative and opposed.

One interviewee, who did not want to be identified, said:

The stock market is full of uncertainties. People should not rashly agree to establish an exchange based on the current booming stock market. They should think about how to maintain the stock market in the off-season or the stock market crash.

Some people directly pointed out that if the new exchange cannot attract new funds and new investors, it will only bring a negative impact to the market.

Some people even directly criticized Wu Guangyao, saying that Wu Guangyao was pursuing personal interests with personal motives, and did not consider the actual situation of the society at all; it was only because the Hong Kong Island Council rejected the listing of Cheung Kong!

It can be said that most of the interviewees are opposed to it, and less supportive; even if they support it, their attitude is quite cautious!

Of course, the most fierce opposition belonged to the opponent of the Kowloon Stock Exchange - the Hong Kong Island Stock Exchange. AH Porter said directly to the reporter: "The establishment of a new exchange is completely unnecessary.... We are a A very well run exchange, even in the last period of intense trading, our operation is very good!"

The implication of AH Porter's words is that Wu Guangyao has a hot eye for the Hong Kong Island Stock Exchange and wants to seek benefits!

The stock exchange is a non-profit organization, so businessmen like Wu Guangyao are obviously not welcome!

Wu Guangyao just went to the Hong Kong government to register and confirm the feasibility of establishing a stock exchange. He did not expect to encounter so many voices of opposition!

In addition, brokers from the Hong Kong Island Stock Exchange jointly wrote a letter in the "Sing Tao" newspaper, raising three major questions to Wu Guangyao:

First: What is the purpose of the establishment of the new exchange? Exchanges all over the world are non-profit, so is the new exchange also non-profit?

Second: Did the founder decide to set up a stock exchange because his company wanted to go public, but was rejected by the Hong Kong Island Council because it did not comply with the regulations?

Third: Will the new stock exchange buy and sell stocks already listed on the Hong Kong Island Stock Exchange? Or introduce new stocks by yourself?

Faced with these sharp and pungent questions, Wu Guangyao smiled contemptuously, and moved the cakes of these people himself, they were impatient!

Wu Guangyao did not evade these problems, and explained his purpose in his newspapers "Oriental Daily" and "Ming Pao".

"First of all, the Kowloon Stock Exchange must be a non-profit stock exchange. This is the premise and the condition for its establishment!"

"Secondly, we start from the public interest. Hong Kong Island needs more financial facilities to support the development of industries! We hope to see that relatively small-scale enterprises can also have the opportunity to obtain funds, so as to balance and reduce the cost of raising funds. Now Only large companies or some specific companies (implying British capital) can raise funds publicly, while exchanges often reject their small companies and some companies (implying Chinese capital).”

"Finally, we encourage brokers in the United Kingdom, the United States, and Canada to join the Kowloon Stock Exchange! We hope to have 32 brokerage members all over Europe, America, and Asia. Of course, when the Kowloon Stock Exchange is established, it will use the listed stocks As a transaction; when the time is ripe, the Kowloon Stock Exchange will gradually introduce new stocks to ensure the stability of the market!"

Wu Guangyao's canvassing in the newspapers obviously changed some public opinion!

Suffice it to say, it's a mixed bag.

Then let history prove it!

The establishment of the Kowloon Stock Exchange is imperative!

 …

In the Chinese restaurant of the Ritz Hotel, Wu Guangyao invited several representatives of Hong Kong Island Securities—Li Fuzhao, Wang Qiming and others.

It was the first time for Wu Guangyao to meet Li Fuzhao, Wang Qiming, these later generations of securities tycoons, looked at everyone curiously, and then said: "Everyone, I think you should have guessed the purpose of inviting everyone here!"

"Mr. Wu, do you want us to become members (brokers) of the Kowloon Stock Exchange?" Li Fuzhao said happily. For the Kowloon Stock Exchange, Li Fuzhao is very optimistic and thinks that the Chinese should have their own stock exchange to avoid being caught by others. Stuck neck.

Wu Guangyao looked at Li Fuzhao, who was only 31 years old, and couldn't help being a little skeptical. Is it correct for me to advance my history by 9 years?

But now that he has no way out, and he has let out all the cruel words, how can he admit it?

"I'm only half right. I invite you here because I want you to take up management positions at the Kowloon Stock Exchange, and part-time members are also welcome. You should know that I am just a layman in the securities industry, and I have no ambitions in the Kowloon Stock Exchange." Exchange. I would like to invite Mr. Li to serve as the vice chairman of the Kowloon Stock Exchange. People dare not move!"

Wu Guangyao's words shocked everyone, what is this guy doing?

To do something with great effort, but to give the credit to others.