I Want To Be a Rich Man on Hong Kong Island

early november,

Hong Kong's stock market has completely collapsed, and after more than a month of plummeting, it has fallen to 860 points;

We must know that the highest record of the Hang Seng Index at the beginning of the year was 1900 points, and the highest record at the end of 1981 was 2300 points;

The collapse of the stock market heralded the collapse of the entire industry, banks tightened their money supply, and land and property prices plummeted.

When the real estate market collapses, land prices are the first to bear the brunt. At this time, land prices in Hong Kong generally fall by 50% to 60%;

The biggest decline was in industrial land and high-end residential land. The price of industrial land in Kowloon Bay dropped from 360 Hong Kong dollars per square foot in early 1981 to only 35 Hong Kong dollars per square foot;

The high-end residential land along Nanwan Road in Hong Kong Island also fell from the highest level of 1,500 Hong Kong dollars per square foot in early 1981 to only 650 Hong Kong dollars per square foot.

While land prices fell, it also led to a sharp drop in property prices and rents;

Property prices have fallen by more than 30%. For example, residential property prices in North Point have fallen from a peak of HK$1,300 per square foot in mid-1981 to HK$850 per square foot;

The decrease in rent is the smallest, but it is also as high as 20% to 25%. Taking Grade A office buildings in the Central District as an example, the rent per square foot in the middle of 1981 was about 32 Hong Kong dollars per square foot, and now it has dropped to about 25 Hong Kong dollars per square foot (monthly ).

 …

Yida Group.

Zhong Zhengwen paced back and forth in the office, his face clouded with gloom.

Banks tightened lending, and land and property prices plummeted;

The pillar of Carrian Group is real estate, and what Carrian Group supported by loans is undoubtedly a noose.

In Hong Kong's business circles, everyone knows that Yida Group and Carrian Group are twin brothers. He and Chen Songqing have joined forces many times, and they have become very popular.

"No! It's only a matter of time before Yida Group is liquidated and bankrupt. With such high debts and guarantees, I will definitely die. For the current plan, I have to leave Hong Kong." Zhong Zhengwen said cruelly.

The so-called ruthlessness means that one person must be left to take care of the company, otherwise, if the situation improves, wouldn't it be ignorant;

Therefore, Zhong Zhengwen decided to keep his son in Hong Kong to look after the company.

Just do what you said, Zhong Zhengwen started to get busy;

"Boom!"

There was a knock on the door, and the document in Zhong Zhengwen's hand fell to the ground in fright.

"Who?"

No one answered, but the office door was opened, and it was the Hong Kong Securities Regulatory Commission officials and several plainclothes policemen who walked in.

"Mr. Zhong, we have a case here, and we need your cooperation in the investigation!" The CSRC official said in a serious tone.

There is no way not to be serious, because there are too many involved in this case, and the amount involved is as high as several billion Hong Kong dollars.

"What case needs me to investigate, you can find my lawyer, I'm busy now!" Zhong Zhengwen said pretending to be calm.

If it is an ordinary case, as Zhong Zhengwen said, the law enforcement officers in Hong Kong will not continue to enforce it;

But this matter is of great importance. The people above demanded that Zhong Zhengwen must be brought back to the police station to assist in the investigation.

and limit the situation.

The final result is that Zhong Zhengwen can only be taken away, and at the same time his face is ashen!

When Zhong Zhengwen was controlled by the Hong Kong police, the Hong Kong media also began to report some things about Chen Qingsong:

"Golden Gate Building has not been sold yet!"

"Carrian Group's debt is as high as 6 billion Hong Kong dollars!"

"The funder behind Carrian Group is Yumin Finance, a Malay secondary banking institution!"

"Largest soap bubble ever!"

"A cheater who brags about his background!"

A series of negative news came to Carrian Group and Chen Songqing;

At the same time, Hong Kong's stock market and real estate plummeted again.

The Hong Kong police also began a comprehensive search of the headquarters of Carrian Group, the financial company of HSBC, the financial adviser of Carrian Group, the legal counsel firm, and the private residences of related personnel;

At the same time, the China Securities Regulatory Commission will suspend trading in related listed companies of Carrian Group, pending the verdict.

Chen Songqing never dreamed that she would be defeated by the media in the end;

You know, it was Hong Kong's media that put themselves on the stage at the beginning.

At this time, stock investors in Hong Kong also woke up like a dream, and began to curse Chen Songqing as the number one old man in Hong Kong, and at the same time complained about the irresponsible flattery;

However, there are still people who believe that Chen Songqing's overseas government background, saying that they don't know the damn government of that unlucky country, sent money bags like Chen Songqing to Hong Kong to spread money;

There are even people who believe that the overseas governments will not refuse to save the company, and Carrian Group is expected to regain its glory.

 …

With the collapse of the real estate market, those real estate companies that adopt aggressive investment strategies are the first to be among them, including emerging real estate companies such as Hang Lung and Great Eagle, as well as established real estate companies Landmark;

Some real estate companies were even more devastated, including Yida Group, Carrian Group, and Carnival Real Estate.

Needless to say, Hongkong Land Company started to advance aggressively in the second half of 1980. In just two years, it finalized and invested in 70 real estate projects, with assets and liabilities of about 18 billion Hong Kong dollars;

Due to the sharp drop in real estate, Sino-British negotiations have reached a deadlock. Hongkong Land's Miramar Old Wing project, Pakbishan Villa Group project, and the sixth large-scale housing estate project in Tin Shui Wai are expected to lose 3 billion Hong Kong dollars in these three projects alone.

In the first half of 1981, Hang Lung Company led three consortiums and won the development rights of properties above nine subway stations along the Hong Kong Island MTR. no reply;

As real estate plummeted, Hang Lung began to pay a huge price for its aggressiveness;

At this time, among the development rights of the nine subway stations that Hang Lung has seized, the Hongmian Building in the Murray Road area of ​​the Central District has been completed, and the construction of the Xiangshan Building in the second section of Admiralty is under construction;

Xiangshan Building covers an area of ​​69,000 square feet, and the total floor area is expected to reach 1.05 million square feet;

However, according to the requirements of the Hong Kong government, the land premium needs to be 1.85 billion Hong Kong dollars, and the deadline is 28 days to complete.

The real estate plummeted, and Hang Lung proposed to the Hong Kong government to reduce the land price to 1.4 billion Hong Kong dollars, but it was not accepted;

At the same time, the Bank of Japan, which originally expected to sign a loan of 1.5 billion Hong Kong dollars with Hang Lung, also temporarily withdrew its commitment;

Under the double blow, the consortium formed by Hang Lung was facing disbandment and a "deposit" (deposit) of HK$400 million.

The unlucky one is Yingjun, the founder of Yingjun Real Estate is called Luo Yingshi, he has four sons, each son can stand alone, there is a saying of "one family of five heroes";

But this time Luo Yingshi misjudged and misjudged the situation of Hong Kong real estate;

At the peak of real estate, Great Eagle invested in Regal Hotel, built a hotel in Tsim Sha Tsui East, and acquired Balibao Company;

It is conservatively estimated that Great Eagle Real Estate will suffer a loss of HK$2 billion.

 …

But when Wu Guangyao heard that Chen Qingsong had been arrested by the Hong Kong government, he couldn't help but chuckled a few times;

Of course, Chen Qingsong has not been convicted, and a judge still needs to be tried;

But what is certain is that in this life, Chen Songqing's imprisonment is inevitable.

Because the person in charge of Yumin Finance was not silenced by Chen Songqing, and Chen Songqing's accomplices were also controlled;

Of course, Chen Songqing will not be sentenced for a few years for the crime, because he never admitted that he has an overseas background, and everything is caused by the media.

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