z

At the end of 1996, the stock market plummeted, and angry investors ripped out the People's Day.

There is even more strange saying that China's stock market has no bull market or bear market, and it is a pig (Zhu) market. Boss Zhu seems very calm about this. Don't just swear words!

Reform is the adjustment of interests. If there are fewer interests, you will curse people when you have time. If there are too many benefits, it is too late to earn money and count money, and there is no time to say thank you.

Looking at the whole year, GDP grew by 9.6%. The national economy successfully achieved a soft landing, which not only suppressed inflation but also maintained rapid economic growth. Foreigners know the tricks. They were very scared that China had passed this dangerous hurdle and believed that Boss Zhu really deserved to win the Nobel Prize in Economics.

It was also during this year that China's steel production finally exceeded 100 million tons, ranking first in the world.

At this time, the US economy was not called the new economy. Since the 1970s, Keynesian theory has failed, and the stagflation problem of high inflation and low growth has been plaguing the heads of government in various developed countries.

Therefore, the soft landing of China's economy has received extremely high international evaluation. In China, few people in the economics community have raised doubts about soft landings, and the domestic economics community has always been nicknamed that ten people can put forward eleven statements.

Since 1993, China's economy has been like a thin pony, pulling a cart to run under the influence of stimulants. If it does not stop as soon as possible, once the medicine passes, it will be overturned with the horse and cart.

But how can we make this: the thin horse stops without myocardial infarction, the domestic leaders have no successful experience and the lessons of failure, but the governance and rectification started at the end of eight years, which certainly dropped the inflation rate from 18.8% to 3.1% in 1990, but the economic growth rate also dropped from 11.3% to 3.8%.

The inflation rate in three years was 14.7%, which was approaching the highest record in 188 years. The people once again urged to buy goods, and the phenomenon of storing US dollars, gold and high-quality durable consumer goods was becoming increasingly common.

The car had already stepped on it hard in the second half of 1993. However, the situation in 1994 looked even worse. The GDP growth rate fell by one point, and the inflation rate rose by more than six points to twenty-four percent. The record was set in one fell swoop.

Although the old methods of ordering are effective quickly, they are both harmful and effective. Boss Zhu decided to use market means to regulate the economy. He summarized his experience of economic ups and downs in the 1980s and tried to control the bubble economy and maintain sufficient growth. Therefore, a soft landing became his clear local point.

The so-called soft landing means that the economy should not fall suddenly and regulation should be carried out gradually. Why is inflation in 1994 more than in 1993? Because this is the soft landing method. It will not be immediate. Inflation will continue for a period of time, and the heating trend has been alleviated.

Monetary tightening has caused speculation and the source of funds for real estate bubbles has been completely cut off. However, basic production, especially normal production in poor areas, is also guaranteed. Macroeconomic regulation and control concentrated on coastal areas overheating and returning funds to their original locations. This practice not only reduces inflation and maintains necessary economic growth.

At that time, prices fell and corporate working capital were tight, and investment declined at the same time. Therefore, differences in the economics community began to become obvious. Wu Jing, and economists represented by Liu Guoguang advocated continuing to tighten. Another group of economists represented by Li Yining and Dong Fu believed that the economy was already cold and advocated relaxation of money. Some people also proposed to expand the demand for infrastructure investment to stimulate demand. Boss Zhu's view is to prevent overheating. He also publicly criticized Li Yining. He proposed to continue to tighten moderately to prevent overheating and prevent inflation from rebounding.

The results of soft landing are obvious to all. Of course, there are also regrets in local issues. For example, the food problem has not been handled well. The result of the reform of the fiscal and taxation system is that developed regions benefit more. The fiscal situation in backward regions has deteriorated. Finance is too concentrated. Financial tools are collected too much. Private finance is completely dead. Rural finance is obviously overcorrected. In addition, the commercialization reform of state-owned banks is very correct. However, the reform of state-owned enterprises has not kept up. Therefore, we have to open an opening for state-owned enterprises on loans. This has reduced the reform of bank reform.

At the Christmas company party at the end of 1996, Fan Wubing summarized the work of Fan's Investment Group, believing that the revenue this year is gratifying, development is gratifying, and expansion is gratifying. The assets of the entire group have increased significantly, becoming the biggest winner in domestic economic adjustment in 1996.

Although financial policies have been tightened, many companies have been affected and their development has been forced to stop, it is good news for Fan's Investment Group. What Fan Wubing lacks the least is funds. Therefore, it has increased a lot of investment in China in one year, and its companies have also developed in depth, investing more than 20 billion in development funds in one year.

As the company flourishes, it is the rapid growth of the group's gross profit.

The profit exceeds 40 billion, which only refers to domestic companies.

In just a few years, Fan's Investment Group has grown into a giant among domestic private enterprises.

The five-year landing war between China's economy and landing war, which was carried out after Fan Wudian returned to China in 991, can be said to have been successful.

During this period, Qin Rushan, the boss of Hong Kong Minghui Industrial, came to meet Fan Wubing more than a dozen times in private and arranged matters to enter the Hong Kong stock market. In the past six months, Fan Wubing successively invested tens of billions of dollars in the Hong Kong stock market and futures market, and purchased some high-quality properties to operate.

The sources of this batch of funds entered the Hong Kong market from abroad, so the domestic situation was not very clear. However, Qin Rushan met Fan Wubing so intensively, which finally attracted the attention of relevant parties.

Therefore, after not seeing the Minister of Security Jiang Lue for many days, he finally came to Fan Wubing.

Fan Wubing received Jiang Lue and his subordinates at his company headquarters. After serving tea, Fan Wubing asked, "It is obvious that the minister is not okay when he comes to our company, right?"

"Get me some food first, what's the point of drinking tea?" Jiang Lue and Fan Wubing were gone and were about to have a meal.

"No? As a leading cadre, is there any reason for letting the people eat and invite them? If the Central Commission for Discipline Inspection finds out, you will continue to serve?!" Although Fan Wubing said with a smile, he ordered someone to arrange a banquet.

"The Commission for Discipline Inspection cannot take care of us." Jiang Lue snorted.

Although the Ministry of Security is just an organization established by ordinary ministries and commissions, the power is a bit jealous. The power between the Central Commission for Discipline Inspection and them is generally parallel to each other. Therefore, Jiang Lue is not very good at the Central Commission for Discipline Inspection.

It was very delicious and the food came. Now Fan's Investment Group has its own special hotel, which is very convenient to eat.

Jiang Lue greeted his people and started eating, and then said to Fan Wubing, who was watching them eat, "Have you been very close to Qin Rushan recently?"

"When doing business, of course there are connections--" Fan Wubing replied without hesitation.

"It's not just that doing business, right?" Jiang Lue used chopsticks to pull the red oil eel silk and asked with great doubts, "We think you are injecting a lot of capital into the Hong Kong stock market. Who is Qin Rushan? He started his business in the Hong Kong stock market. We understand this situation."

Fan Wubing nodded and said, "So what? Hong Kong is a free port, and its capital transactions are not restricted. To put it bluntly, the stock market is an open casino, and we are the guests who gather to gamble. Can we afford to buy a dealer but not stay at customers?"

"The guest bullies the master, and the senior management is worried that you will scare others." Jiang Lue expressed the purpose of this trip.

Fan Wubing smiled and thought to himself that the sudden influx of tens of billions of dollars into the Hong Kong stock market would naturally cause some storms. Fortunately, Qin Rushan was still calm at this time. It took him more than half a year to spend more than one billion dollars. It was not very eye-catching when he spread it.

However, Qin Rushan flew to the mainland one after another, which obviously caused both the Hong Kong government and the mainland government to notice. Following the clues, it is naturally not difficult to find Fan Wubing behind the scenes.

The Hong Kong Monetary Authority also has its own considerations. Although the British are leaving, Hong Kong's prosperity and stability must be maintained. This is not only the wishes of most people in Hong Kong, but also the wishes of major families and major consortiums in Hong Kong. Therefore, if there is any disturbance in the stock market, everyone's sensitive nerves will become nervous.

In particular, all major families are in love with the mainland government, and there must be some private activities to do. Everyone mentioned together that they should maintain the prosperity and stability of the Hong Kong market, which is actually to ensure that after 1997, their respective interests can continue to be recognized and developed steadily.

At this time, Fan Wubing suddenly intervened. With such a large amount of funds, even the local consortiums in Hong Kong were very surprised.

Although they can't afford to offend Fan Wubing, it should be quite pragmatic to convey information to Fan Wubing through the mainland's top leaders. Therefore, this time Jiang Lue's visit actually represents the opinions of the senior management, hoping that Fan Wubing will withdraw from the Hong Kong stock market.

"What the senior executives mean is that Hong Kong people govern Hong Kong, and I hope you don't get in a straitor." Jiang Lue said to Fan Wubing.

Fan Wubing touched his forehead and said, "This is too irresponsible."

The four words "Hong Kong people governing Hong Kong" are not Wanying Spirit Pills and cannot be used anywhere."

Fan Wubing felt very unhappy about this. Even if your Hong Kong families want to rush to divide the economic sphere of influence after their return, the British are still in charge now, right? At this time, I will use the mainland government to suppress me, are you afraid that I will not feel good enough?
Chapter completed!