Arguments erupted on site. Representatives from the Hong Kong Monetary Authority wanted to hand over the funds to them for processing, but representatives from the mainland disagreed, believing that their methods were problematic.
They said these people don't trust their compatriots. Meanwhile, Lao Dong couldn't stay still any longer and rushed to Beijing early this morning, hoping to get financial support and explain the situation.
Lu Feng poured himself a pot of tea and sat there watching them argue, acting like an outsider.
With the two sides arguing endlessly about the current situation, the leader looked at Lu Feng and said, "President Lu, why don't you come up with an idea?"
Lu Feng spread his hands, a half-smile on his face, and said, "What can a mainland guy like me do?"
"Now is not the time for cynicism. The market can't hold up anymore. If the remaining 10 billion yuan is dumped tomorrow, it will only last for one day. We must come up with a solution today!"
"I'll say it again: without Hong Kong dollars, there are no Hong Kong stocks. We need both. This passive defense is too weak; we need to take the initiative," Lu Feng said slowly.
"Neither of us should argue about who should use this money. Give it to Lu Feng! Give him the bulk of the funds, and let ICBC and PBOC take charge of the stock market and support the Hong Kong dollar!" The person in charge set a basic tone.
The meeting lasted until after 7 p.m. They wanted the money to be handed over to the Hong Kong Monetary Authority for use, believing they had the ability to turn the tide. The Industrial and Commercial Bank of China and the People's Bank of China were not very familiar with this kind of financial battle. This money was the lifeblood of the country. If the money was spent and the desired effect was not achieved, they would truly become sinners for all time.
The money is placed in two banks, and Lu Feng is in charge of managing it. If something goes wrong, someone can be pushed forward. Besides, Lu Feng wasn't chosen randomly; he managed the Thai baht defense before. If this plan is submitted, the higher-ups will definitely approve it.
After careful consideration, the organization decided to let Lu Feng manage the Hong Kong dollar, while the stock market would be handled by ICBC, PR, and the two major banks. They would focus on targeting a series of large-cap stocks such as Cheung Kong Holdings and Sun Hung Kai Properties. If the large-cap stocks were protected, everyone would have the confidence to continue to go long.
On Wall Street, Soros is being interviewed, and the interview will be released tomorrow morning. Soros appears very confident in front of the reporter. He even seems to regret not using leverage. In contrast, Robertson's Tiger Fund has been making a killing in the last two weeks.
"Looking at the situation in Hong Kong as a whole, do they still have any industry? The economy of any place is supported by industry. When there is no industry and only finance is left, it is a castle in the air. Shouldn't such a place be shorted?" Soros smiled at the reporter and said, "This is not robbery, and I am not a bandit. I am helping them. Bubbles always burst, just like the Emperor's New Clothes. I just told the truth, and they are unhappy."
Reporter: "Last year on the Thai baht, as far as I know, you had a counterparty, a young Chinese man who is now in Hong Kong. Are you worried about anything?"
Hahahaha!
Soros laughed and said, "Lu Feng? Where is he? Sorry, I haven't seen him. Perhaps he's in the midst of a market collapse, currency devaluation, stock market crash. This is not something one person can salvage. If he really wanted to salvage the situation, he shouldn't be looking for me, but rather he should be working to revive Hong Kong's manufacturing industry."
As soon as the reward was announced, Lu Feng instantly became the focus of attention again, with everyone asking, "Where did Lu Feng go?"
On September 8, Lu Feng officially took over the funds account, and the media began to report on it extensively. Ta Kung Pao conducted an exclusive interview with Lu Feng.
"Mr. Lu, what do you have to say about Soros's statement that Hong Kong's economy is like the emperor's new clothes?" the reporter asked.
"Whether it's the Emperor's New Clothes or not depends on who's in charge of Hong Kong. When it was in British hands, the international community said it was economically developed, its people happy, and they lived in peace and prosperity! But in just a few days, it became a disastrous case of hollowed-out manufacturing and financialization, turning into the Emperor's New Clothes." Lu Feng told reporters, "There are two possibilities: one is that the child pointing out the Emperor's New Clothes was blind, but suddenly grew eyes after July 1st; the other is selective blindness!"
"What is your response to Soros's public question, 'Where have you been?'"
"Hong Kong is healthy, the Hong Kong dollar is healthy, the current situation is due to bandits breaking into our home. Since he asked me where I went, I'll tell him, 'Grandpa is here!'"
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