Chapter 465 It's none of your business!
After hearing Xing Baohua's words, Secretary He looked at Su Ya, then pointed at the two of them and said, "Are you a couple?"
"We're almost done getting our marriage certificate. We were engaged a few years ago, but I've been busy with work and she just started school. We were worried that marriage would have a negative impact, so we're also actively responding to the call for later marriage and childbirth," Xing Baohua said with a smile, making Su Ya blush and glance at him.
There was definitely no engagement; it was just a private affair. Xing Baohua just made it up, and I doubt the secretary would investigate whether it was an engagement or a private affair.
"Then let's go up together!" Secretary He gestured for Xing Baohua to go first, and Xing Baohua respectfully followed suit.
While getting on the elevator, Secretary He said to Su Ya, "Xiao Su, right? There are some things that need to be reported to the organization in a timely manner. Just like yesterday when you went out, if you had reported in more detail, you wouldn't have felt so wronged. Now that the matter is over, if you have any difficulties, tell me. I can help with what I can, and if I can't help, can't I at least report it to the leaders?"
This implies that her relationship with Xing Baohua wasn't clearly stated. Going home to stay isn't a big deal; as long as it's explained, everything will be fine. Besides, if the person who went out under a pretext runs away, who suffers? Isn't it the person in charge?
Vice President Liu looks like he's almost sixty. If someone of his rank were sent down to a lower-level position, he would definitely be a high-ranking official.
He warmly invited Xing Baohua to sit down first and praised Xing Baohua for being young and promising.
After a few polite words, Vice President Liu asked Xing Baohua, "If China were to establish a stock market and a futures market like the capital market, what would be the advantages and disadvantages?"
“You’re the expert, and I’m just a client who’s following the trend in stock trading. From the perspective of us retail investors, it doesn’t matter. Buying stocks is a legal gamble. You’re betting that if the company is doing well, you can make money. If the company isn’t doing well, you can either hold onto it like a fixed deposit and sell it when the price goes up and it’s right.”
"This seminar is a ministerial-level meeting. We are here not only to thoroughly understand the models of the stock market and futures in theory, but also to observe whether the models are suitable for our national conditions."
"You mean, you want to set up a market with unique characteristics?" Xing Baohua asked cautiously.
He's just talking nonsense right now, but he doesn't dare to be too explicit, and he can't pretend to be too confused either.
Vice President Liu shook his head slightly and said, "What you're saying reflects the mindset of ordinary people. I'd like to hear what you entrepreneurs think. If rice is on the market..."
Xing Baohua quickly waved his hand, saying that if they continued talking, the rice would be on the market as scheduled, and the domestic market would be a target, making people want to aim at it.
He hurriedly said, "President Liu, we can't list our rice company on the stock market. The prerequisite for listing is that the company lacks funds and needs to raise funds from the public for development. Our rice company has sound finances and doesn't lack funds for development. If we list, everyone will think our rice company is doing well and buy our rice company shares, which will not only drive up the stock price, but also, our rice company can't use all that money!"
“You don’t need that much money, but you can stimulate other industries. For example, if companies in your downstream supply chain can’t find funding, you can invest in them, or even help them go public,” Vice President Liu said.
Xing Baohua looked at the other party. Perhaps this big shot meant well, but the scale of the operation was too large. Wasn't there a name for it: "pig butchering scam"?
If something cannot be used for your own purposes, then destroy it; this has always been the case since ancient times.
Xing Baohua was so frightened that he hesitated to speak. After thinking for a moment, he asked tentatively, "Is the free market economy going to open up?"
Vice President Liu nodded slightly and said, "Several cities in the south will open ahead of schedule. The stock market must be open to allow for greater flexibility in the distribution of goods."
"So, with the opening of the stock and futures markets, how will foreign capital respond? And will the currency be freely convertible?" Xing Baohua asked a very complex question.
This time, Vice President Liu didn't say much, but stared intently at Xing Baohua, making the man feel a little uneasy.
After a short while, Vice President Liu asked, "Do you think it's better to allow free exchange or to insist on not allowing free exchange?"
Why was he being asked this question? Xing Baohua felt that the other party was testing him. After all, he had a lot of foreign capital, but there was even more foreign capital overseas. Once free convertibility was implemented, it would impact the domestic currency, no, it would impact the economic system.
“I feel that we should stick to the principle of non-free convertibility of RMB. This way, we can protect many of our domestic companies from being controlled by foreign capital. I have also traded stocks abroad and know how fierce capital is. I have also played this kind of role before, such as in the acquisition of Nissan and Toyota in Japan.”
“I’ve heard about this and seen the case report they provided. I can only say they did a good job. The organization has also considered your concerns. Initially, we will form two markets, one domestic and one for foreign investment.”
Upon hearing this, Xing Baohua understood that they were going to play the dual-share/dual-share game.
Xing Baohua nodded and said, "I think we shouldn't follow the Western stock market model. The fluctuations are too large and investors can't accept them. We should limit the rate of increase. Take H-shares for example. They don't set any thresholds and just watch the ups and downs. Nobody can stand that. Once a market crashes, it will be disastrous."
"I will take your suggestion into consideration and will look into it at the next meeting."
As soon as President Liu finished speaking, Xing Baohua asked, "Are there more private enterprises in the stock market or...?"
Xing Baohua's point is, are there many private enterprises and government-controlled enterprises?
Without a doubt, it's because they have many holding companies, since many companies have just undergone shareholding reforms, and every prefecture-level city has one.
However, only excellent companies are recommended for listing.
This is a small shift; the holding company is no longer reliant on government funding and is now self-sufficient. Once listed, it relies entirely on fundraising to complete its transformation.
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