"So... are we just going to watch others get rich like this?" Uncle Long said unwillingly.

Chen Dong smiled and said, "I am certain that if the Hong Kong dollar breaks through the 6.0 limit, the Federal Reserve will definitely take action. However, as long as the Hong Kong Monetary Authority is still supporting the market, the appreciation of the currency should not be too great in the short term."

"Furthermore, what goes up must come down. The Hong Kong dollar has now broken through the 7.2 mark, and the depreciation threshold for the Hong Kong dollar is very likely to arrive soon."

Based on his observations of newspapers and financial news channels over the past few days, Chen Dong asserted: "This appreciation of the Hong Kong dollar must be the result of the collective participation of overseas speculators and the guidance of private equity funds behind the scenes."

At the time, Chen Dong did not have a deep impression of Soros. He had only read a few of Soros's speeches in the newspaper and knew that he was a representative of the international speculator group.

He attacked the currencies of Southeast Asian countries twice, almost wiping out the Thai baht, peso, and Singapore dollar.

Therefore, Chen Dong has reason to suspect that this time when they enter the Hong Kong stock market, they will definitely use the same old tricks.

This time, perhaps because Hong Kong is about to return to China and has China as a powerful backer, Soros is hesitant to take action.

Many of the tactics he used in the stock market seemed rather flashy.

However, the essence is the same as when they were in Southeast Asia: they want to exploit the local financial market.

Chen Dong pointed to the numbers on the computer screen and said, "Buying more is not as good as shorting."

"Buy short?" Uncle Long looked at him with a suspicious expression.

With the Hong Kong dollar's value steadily rising, international speculators, conglomerates, and third-party institutions in Hong Kong are all pushing for a bullish move. If they were to go against the grain and short the market at this time, the risk would be extremely high.

Buying short means that they borrow shares from the brokerage firm, buy them at market value, and sell the short position within a specified time.

In this process, they have to pay the stock cost price, margin, handling fees, and high interbank lending interest.

“Xiao Lu, you’ve been right about all those predictions about the Hong Kong dollar’s ​​fluctuations. I have a lot of faith in you,” Uncle Long said solemnly. “Don’t you dare get me into trouble!”

Chen Dong glanced at Afang cautiously, and seeing that she didn't object, he said, "Uncle Long, I would never harm you."

"The Hong Kong dollar will definitely fall within two months at most."

Uncle Long gritted his teeth and invested all of his and his wife's remaining savings, plus the money borrowed from his brother, into the Hong Kong stock market, shorting stocks!

For this decision, Uncle Long practically spent a fortune.

On the third day before Hong Kong's return to China, the Central Savings Bank provided HK$5 billion in aid to the Hong Kong Monetary Authority.

Previously, the central government provided $10 billion in market stabilization funds to HSBC and commercial banks through Chinese-funded institutions. These funds were primarily used to maintain stock market stability.

The Hong Kong dollar aid funds were intended to help HSBC overcome its cash shortage.

To ease the upward trend of the Hong Kong dollar and fill the gap in the spot market, the Hong Kong Monetary Authority (HKMA) will appropriately increase the amount of Hong Kong dollar spot funds released into the market to ensure that the daily lives of citizens are not affected.

That afternoon, the Central Monetary Commission moved into the Finance Department and expressed its determination to safeguard currency security to Du Xingzhi, Yang Fugui, and others.

Yang Fugui shook Secretary Meng's hand with great emotion and said, "During this period, in order to safeguard Hong Kong's currency security and prevent Hong Kong from being affected by the Southeast Asian currency crisis, the mainland has provided assistance several times, and we remember it in our hearts."

"Welcome to the Financial Services Department!"

Meng Qing said warmly, "We're all family, don't be shy."

The move of the Central Monetary Council to the Financial Secretary is intended to facilitate the smooth transfer of management authority from the Hong Kong Financial Secretary to the Central Government after the handover between the two governments.

Secondly, it is also to verify the financial management of the Financial Secretary and the Hong Kong Monetary Authority to avoid any oversights during the handover.

The third reason is to convey to the Hong Kong Monetary Authority the central government's determination to safeguard Hong Kong's financial security.

Meng Qing shook hands with Du Xingzhi and Yang Fugui one by one and said, "The Southeast Asian financial crisis has bankrupted many wealthy conglomerates. Hong Kong was able to adjust its monetary and fiscal policies in a timely manner and perfectly deal with this crisis, which shows your dedication to Hong Kong."

Yang Fugui said with a smile, "Actually, our Financial Secretary is only responsible for formulating policies and outlining the direction. As for the more specific implementation methods, those are handled by the Hong Kong Monetary Authority."

“During this period, Chief Executive Du of the Hong Kong Monetary Authority has indeed put in a lot of effort.”

After exchanging a few pleasantries, the group entered the Financial Services Department's office together.

Since the Hong Kong Monetary Authority (HKMA) is under the Financial Secretary, Du Xingzhi, as the HKMA Chief Executive, also attended the meeting.

The National Committee delegation sat down with senior officials from the Hong Kong Monetary Authority and the Financial Secretary.

......

Meng Qing said with a smile, "I heard that in order to ensure that the stock market would not be affected during the handover of Hong Kong, the Hong Kong Monetary Authority even contacted the four major families in Hong Kong?"

Du Xingzhi smiled sheepishly, “To be honest, the four major families in Hong Kong control more assets in cash, foreign exchange, real estate, and bonds than the Hong Kong government does.”

"I don't expect them to make any contribution to the stability of Hong Kong's financial market. But at this critical juncture of Hong Kong's return to China, I really don't want any more accidents to happen."

Du Xingzhi added, "That's why I contacted them everywhere and asked them not to leave Hong Kong before its return to China, and not to transfer their assets overseas."

Meng Qing nodded approvingly at the Hong Kong Monetary Authority's actions, saying, "The central government has seen your contributions to Hong Kong's financial market."

My dear reader, there's more to this chapter! Please click the next page to continue reading—even more exciting content awaits!