乐生活"Huangtai melon, how can you pick it again?" Li Jiacheng’s voice at this time is that the overall situation is stable. The language is actually a lament quoted from Li Xian’s poems by Wu Zetian’s son.
It can be said that his heart can be criticized.
Through the operation of a port with a population of 7 million and a projectile site, it has become the richest man in Asia for several years. This abnormal contrast between size and wealth comes from his amazing hoarding and Rent-collecting model of Hong Kong’s hard assets, Hong Kong’s unique position in the process of China’s rise, and other top and bottom players in China, Hong Kong and Britain (see another microblog for interest). The spirit of Lion Mountain is only a daub of the great age, of course, it is not a decisive factor.
Decisively, it is in the historical position of trade ports, capital entry and exit ports, and investment and financing fortresses.
At this moment, it is clear that everything has come to another turning point in the course of history. As an international financial centre, Hong Kong will play a much different role in the future than in the past.
A few days ago, as the president of the Hong Kong Stock Exchange, Beijinger Li Xiaojia wrote a clear explanation of Hong Kong’s unique advantages as an "international financial center".
Let me make a brief summary:
In the past three decades, Hong Kong has done three major things for China’s reform and opening up: first, entrepot trade; second, direct investment (FDI); and third, the great development of capital market. One of the core themes of the three events was to import capital for China, because at that time China was short of money, and Hong Kong had always been China’s most reliable overseas capital gathering center.
The next 30 years will be an era of two-way capital flow in China. In addition to giving full play to its traditional financing function, Hong Kong needs to adjust its positioning and transformation as soon as possible and do three new things well.
The first thing is to help China achieve global distribution of its national wealth.
Simply put, it is to help the mainland’s national wealth move from a single domestic asset allocation to a historic "big move" of global decentralized allocation. If we take the world to Hong Kong at the door of China and let the Chinese "sit at home and throw themselves into the world", China will once again find a shortcut to opening up and prosperity through Hong Kong.
The second thing is to help Chinese and foreign investors manage onshore financial risks offshore.
The absence of various financial derivatives markets in the Mainland makes risk management difficult. Hong Kong can help the Mainland market "open up a new battlefield" and allow Chinese and foreign funds to fully play games and hedge risks in the offshore market which has a certain degree of security isolation from the Mainland market.
The third thing is to help China realize the international pricing of commodities and currencies, and to provide a stage for China’s capital pricing of overseas assets.
Over the next 30 years, China’s capital will continue to move outward for 30 years. Chinese investors should learn to go to the world and use our money to "price" the shares of overseas companies we want to buy and the commodities we want to buy. At the same time, they should also use our purchasing power to make more and more international interests and commodities priced in RMB. In this way, we can gradually grasp the pricing power of RMB exchange rate and interest rate on a global scale.
If we can do these three important things well, Hong Kong will be able to create irreplaceable value for China’s development once again, and naturally consolidate its position as an international financial center. "
As a top banker of mainland origin, Li Xiaojia’s judgment and understanding of the political and economic situation is deeply familiar with the historical process.
Yes, Hong Kong has its irreplaceable, irreplaceable and irreplaceable historical, political, legal and financial status.
It has an independent currency, a very special linked exchange rate system, an independent tariff area, a common law judicial system connected with the Anglo-American legal system, a more sound (commercial) rule of law foundation, and even the "window" status of the older generation of leaders (Deng Gong et al.) to observe the system comparison, which is unique. Neither Shanghai nor Singapore nor Macau can replace it in the short term.
But if Hong Kong continues to exist as an international financial centre in the next 30 years, the most important value and significance will be to help China move its wealth, offshore management of its funds, and capital going out.
Then, its system, rule of law and nationalist self-perception can not but be better and more closely linked with the system in the Mainland, rule of law and nationalist perception of "one country in our country".
If at the level of (private law) system and (private law) rule of law, the expectations of ordinary citizens in the Mainland even if we can be in line with Hong Kong, then at the cognitive level of (public law) rule of law, culture, value and nationalism, it is absolutely impossible to accept the failure of the institutionalists in Hong Kong and the high proportion of themselves. Cognition is not the civil society of the Chinese people and the uncommitted terrorist riots that harbour evil intentions.
Otherwise, the existence of Hong Kong as an international financial centre is a white glove for the transfer of wealth and capital in the Mainland, or a place of looting for China’s economic development?
On this point, I’m afraid we need to say to Li Jiacheng and the historical sinners behind him who think they can rob the people and brainwash the people: How can we pick the cucumber from Huangtai?
