As time enters November.
An unknown Hong Kong newspaper called "Three Minutes of Heat" came into the public eye with the title "Bankruptcy of former Chinese banks in progress".
The article stated: "According to reliable sources, Hang Seng Bank, once a leading Chinese bank and now a subsidiary of HSBC, is suffering from severe losses. Both the inflow and outflow of funds are outside normal ranges, and there are serious loopholes."
"Informed sources revealed that Hang Seng Bank's total investment in the Carrian Group was over HK$1 billion. With the Carrian Group's bankruptcy, this investment has been wiped out instantly, and this represents only a portion of the losses."
"During the Iron Lady's visit to Beijing, Hang Seng Bank misjudged the Hong Kong real estate market's recovery and lavishly provided loans to real estate companies and individual homeowners, while also aggressively buying up properties in Hong Kong's core areas."
“.........................”
"As we all know, Hong Kong Bank's cash flow must account for at least 50% of depositors' deposits, but Hang Seng Bank's cash flow is probably less than 30% now."
"Therefore, I can conclude that Hang Seng Bank's cash flow is almost exhausted. For the sake of Hong Kong citizens, it is best not to deposit your money with Hang Seng Bank to avoid losing all your money."
"Although Hang Seng Bank is backed by the giant HSBC Group, HSBC also suffered heavy losses in the collapse of the Carrian Group, with losses exceeding HK$5 billion. This time, Hang Seng Bank may not be as lucky as it was in 1965. Its bankruptcy is already underway."
The newspaper also includes a series of speculations based on Hang Seng Bank's public information.
He spoke very coherently, as if it really happened.
As time passed, the new newspaper "Three Minutes of Heat" became an instant hit.
In less than a month, tens of thousands of newspapers were sold out instantly.
At this time, other major newspapers in Hong Kong also immediately began to dig deep into the cash flow of Hang Seng Bank.
When everyone in Hong Kong discovered that the report was almost identical to the one in "Three Minutes of Heat", there was an uproar.
Countless people rushed to Hang Seng Bank's headquarters and more than 20 branches to withdraw money.
The massive wave of bank runs instantly shifted from Hang Lung Bank to Hang Seng Bank.
Hang Lung Bank cannot be compared with Hang Seng Bank.
Hang Lung Bank's depositors' deposits are only around HK$3.2 billion, while Hang Seng Bank's depositors' deposits are over HK$16.5 billion.
There are currently about 5 million people in Hong Kong, and at least hundreds of thousands of them have chosen to deposit the HK$16.5 billion in Hang Seng Bank.
When these hundreds of thousands of people went to withdraw their money, it was like a dark cloud.
A serious stampede can occur if you are not careful.
The heads of Hang Seng Bank's headquarters and more than 20 branches all came out to persuade him, but to no avail.
The surging crowd gathered in front of the counter, all wanting to get their hard-earned money back, even if there was no interest.
All this was expected by senior executives such as Ho Sin Hang. A man of small mind is not a gentleman, and a man without viciousness is not a man. As long as they can get back control of Hang Seng Bank, everything will be worth it.
.............
At this time, in a spacious office on the top floor of Hang Seng Bank's headquarters.
A fierce confrontation officially began.
Sitting in the center of the conference table was a Western man in a suit and tie.
The man was about sixty years old, with short silver hair, and looked particularly energetic.
There are a pair of sky blue eyes in the sunken eye sockets.
As deep and vast as the sea, with a high and straight nose and angular facial features.
It exudes a captivating aura that makes people dare not look at it.
He is the most famous boss in the history of HSBC - Shen Bi.
"Mr. Ho! I need an explanation. Why didn't Hang Seng Bank go through the board of directors' resolution for its recent large-scale investment in real estate?"
While looking at He Shanheng, Shen Bi tapped the table rhythmically with his right hand.
It seems as if they don't care about the crisis happening at Hang Seng Bank.
"Mr. Shen! This is indeed my fault, and I will resign. But now we should find a way to resolve the bank run crisis. If Hang Seng Bank goes bankrupt, I believe it will be a huge loss for HSBC as well."
He Shanheng remained neither humble nor arrogant under the other party's aggressive gaze, but an ominous premonition was swirling in his heart.
"Hahaha!!!......"
After hearing this, Shen Bi laughed out loud, his voice full of sarcasm. Then, like a wolf, he glanced at He Shanheng, Li Guowei and other senior executives, and said disdainfully:
"I remember there's an old Chinese saying, I don't know if I'm right, but it goes something like this: If you don't want others to know, don't do it yourself."
"HSBC has been here for over half a century. Nothing can escape my notice, especially since Hang Seng Bank is our subsidiary."
"If I hand over the evidence of your harming shareholders to the Securities and Exchange Commission, I believe everyone here will end up in jail!"
As soon as these words were spoken, the expressions of senior executives such as Ho Sin-hang and Lee Kuo-wai changed instantly.
"What do you want to do?" Director Li Xin spoke first with a look of extreme panic on his face.
"Xinyi! Stay calm."
After Li Guowei recalled it carefully, he didn't think that the other party had any evidence against him.
He stopped Li Xinyi's words instantly, then said to Chen Bi with a calm look:
"Shen Sheng! You don't have to deceive us. All our actions are within the scope permitted by the law. If you really have any evidence, I welcome you to report it to the Securities and Exchange Commission."
"Haha! You're worthy of being the next successor of Hang Seng Bank. Your reaction speed is really fast. Among all these people, the one I admire most is you, Mr. Li Guowei."
"Countless banks and companies in Hong Kong were manipulated by Chen Songqing, yet you were the first to discover it was a scam and profited immensely from it."
"His vision, scheming, courage, and wisdom reminded me of someone: the current richest Chinese person, Wang Baochuan."
Shen Bi's eyes were full of admiration for Li Guowei.
Ever since the bankruptcy of the Jianing Group, an institution that shorted the Jianing Group and other related companies has come into his sight.
After great efforts, they finally found out that it was the senior management of Hang Seng headed by Li Qunwei. Although HSBC suffered heavy losses due to short selling, he sincerely admired Li Qunwei.
Continue read on readnovelmtl.com
