Thanks to the addition of Yang Xing in this life, the international speculators' several actions of looting Hong Kong wealth were ineffective, and they took advantage of the rebirth. Under Yang Xing's "amazing judgment and suggestions", Bao Haisheng hit hard on major foreign banks in the market that joined forces with international speculators to speculate Hong Kong dollars as soon as he came to power. Yang Xing then turned the speculator leader Robertson's interest in the Hong Kong dollar to the Indonesian rupiah by making a fuss. After the active operation of the SAR government, the Hang Seng Index of Hong Kong stocks has remained above 10,000 points, and did not face the fate of being cut in half in the previous life. The fluctuations in the Hong Kong dollar were also controlled within a smaller fluctuation range.

However, in order to ensure the Hong Kong dollar-related exchange rate hikes, the HKMA has also launched a lot of foreign exchange reserves to stabilize the market, allowing Soros, who attacked the Hong Kong dollar exchange rate, to gain a lot of benefits. He arrogantly believed that the Hong Kong government only knew this trick and announced that Hong Kong was their super cash machine. However, the Hong Kong government had long been water skiing, planning silently under the water, waiting for the opportunity to give these speculators a thunderous blow, and then taking back all the losses in one battle!

The content of Yang Xing and Bao Haisheng's discussion this time is only one of the issues. In addition, the two met secretly at the Chief Executive's residence today, and the focus of the discussion is not limited to this. Bao Haisheng specially invited Yang Xing to come. In addition to discussing the matter of Hong Kong dollar, he also thanked Yang Xing for doing a lot of things for Hong Kong and Indonesian Chinese. In addition, he was inspired by a report written by Yang Xing's Xing's Xing's Institute on where the Hong Kong economy will go after the financial crisis. Some of the data in it made him deeply wary. As the general manager of millions of Hong Kong citizens, he has his own ideas about the development direction after the test of Hong Kong's storm, and whether Hong Kong can continue to maintain global competitiveness in the next few decades, and he has a deep understanding of Yang Xing's report. So this time he invited Yang Xing to come here to consult Yang Xing's views face to face and listen to Yang Xing's suggestions.

Yang Xing opened the report of Xingdou Research Institute and raised the above point of view to Bao Haisheng: "The Chief Executive should have no major differences with us regarding the reasons why this Asian financial crisis seriously hurts the financial systems of Southeast Asian countries. It seems that simply introducing foreign financial investment and not strengthening supervision of its flow will not work in the future." Bao Haisheng nodded in agreement with this. The Hong Kong dollar defense battle that will start a few days later. In the previous life, the SAR government personally took action to fight both an athlete and a referee and an international speculator. Finally, it fell.

He suffered heavy losses and was notorious for monetary control. This time, the SAR government first established three sovereign currency funds to support the market, and also contacted wealthy businessmen from all walks of life in Hong Kong to fight. Besides, no one believed the government's big talk that the government believed in a free economy and did not participate in the specific economic operation. After this financial crisis, Asian countries formed a consensus that too free currency flow is dangerous. It will only strengthen monetary control measures. As a financial free port, Hong Kong is a new trend.

"The development of a country or region cannot be separated from financial support, but relying solely on the abnormal development of the financial industry will bring hidden dangers to its own economy. Small countries or regions want to develop their economy greatly, but agricultural products can still be purchased from the outside world, but the secondary and tertiary industries must not be neglected. Blindly developing the secondary industry to suppress the tertiary industry, the Soviet Union's disintegration is not far from the knowledge. However, the countries that have been damaged in this financial crisis are role models."

"Hong Kong made a fortune in manufacturing. In the 1950s and 1960s, it attracted many domestic national enterprises to come to Hong Kong. It coincided with the opportunity of great economic development in the Western economy after the war, achieved economic takeoff and became one of the four Asian dragons. However, after the 1980s, with the rise in human resources costs, the mainland reformed and opened up, and a large number of Hong Kong manufacturers moved to the mainland. At the same time, the other three Asian dragons took the initiative to upgrade their industries and improved the manufacturing level and turned to the road of high-end manufacturing." Yang Xing slowly read the content of the report. Although Bao Haisheng had read several times, he nodded slightly when he heard this passage. He felt that Yang Xing pointed out a major transformation opportunity lost in Hong Kong's economic development.

The opportunity for Hong Kong's economic transformation in the 1980s was because of Hong Kong's own identity. As a British colony, since the 1980s, China and the UK have conducted more than ten years of arduous negotiations around the arrangements for Hong Kong's return. In this case, the British government naturally had no interest in making long-term plans for the territory that was about to be handed over to others, and allowed Hong Kong's local merchants to do whatever they wanted. Although they created a group of super rich people who made a fortune by relying on re-export trade and real estate, their long-term economic development plans for Hong Kong were lagging behind for a long time. At this time, as the world economy developed from capitalism to a higher level of "knowledge-based"ism, the face of high-tech bringing productivity is changing with each passing day, and Hong Kong lacks a strong government guidance and lags behind its competitors.

South Korea and Taiwan, among the four Asian little dragons, were all "poor students" in the third world who were not covered in clothes and food in the 1950s, but they implemented mercantilism and national capitalist policies, and hugged the United States and Japan to accept industries that were transferred abroad due to industrial upgrading. South Korea vigorously developed heavy industry, shipbuilding, chemical industry, steel, and machinery manufacturing. Taiwan fully supported the electronics industry and relied on high-tech industrial parks such as Hsinchu Industrial Park to develop a large number of giants in the world's electronics industries, such as TSMC and Foxconn. The prosperity of surrounding industries has enabled these two little dragons to successfully survive many world economic crises and become the most dazzling star in the Asian economy. Although South Korea suffered a heavy blow in this economic crisis and Taiwan's exports were also hit hard, with its accumulated strength, they can recover quickly after the crisis.

Singapore, which is closest to Hong Kong in area and population, does not have the huge advantage of Hong Kong relying on its motherland's hinterland to gather overseas Chinese investment. In contrast, Singapore has a serious lack of resources, and Malaysia behind it is still the idea of ​​annexing it from time to time. It can be said that it is an external and internal trouble. The only thing that Singapore is stronger than Hong Kong is that it has the ability to govern independently. The Lee family, who is in charge of the country, can look far away. At the beginning of its founding, the then Prime Minister Lee Kuan Yew decided to establish a country with knowledge and development.

The national policy of the country's manufacturing industry. In the face of poverty and backwardness, the Singapore government has worked hard for decades to form a complete steel, chemical, microelectronics, machinery manufacturing and other industries. In this crisis, its stock and foreign exchange market performance was stronger than that of Hong Kong. The financial turmoil it suffered did not hurt the country's roots, and the recovery speed was significantly higher than that of Hong Kong. They all had the confidence of manufacturing. In this life, Yang Xing secretly helped Hong Kong a lot. Compared with the two, Hong Kong's performance was indeed a lot of Singapore.

Listening to Yang Xing's analysis, Bao Haisheng showed shame. Hong Kong civil servants are indeed honest and high in execution. The government's finances have always maintained a surplus. Ordinary citizens work hard and finance is also very developed. They have always been considered one of the top competitive regions in the world. However, in recent years, many young people in Hong Kong are addicted to the illusion that the financial industry makes money quickly and makes money easily. They only want to make money easily and are unwilling to rely on the hard work and meager profits of the manufacturing industry like his father. Hong Kong's economy has gradually formed a huge tertiary industry as the foundation. The secondary industry has weakened year by year, and the primary industry is almost nothing. In the tertiary industry, there is a deformed development of trade and finance that accounts for the majority. This time, the financial crisis broke out, and all the disadvantages of this economic model were exposed.

Yang Xing patted the cover of the report and said: "In fact, this financial crisis may not be a good thing for Hong Kong. Let us know where the problem lies in Hong Kong. I have also thought about the future of Hong Kong recently, and there is only one conclusion. Hong Kong needs to develop its own core competitiveness with its own characteristics, so that people have no one, and people have better. I think we must develop Hong Kong's own high-end manufacturing capabilities for this competitiveness." He stared at Bao Haisheng with bright eyes, hoping to hear Bao Haisheng's opinions.

Bao Haisheng touched his chin and showed his interest. Yang Xing, who was inspired, further explained: "In fact, the SAR itself has good resources. Colleges and universities such as Hong Kong University of Hong Kong and University of Science and Technology are ranked ahead of Asia in the world, and there is no shortage of research talents. Moreover, the number of scientific researchers in the mainland is large and the treatment is generally low. The SAR government can introduce them in large quantities to enhance the SAR government's scientific research capabilities. In recent years, the United States and Europe have been committed to industrial upgrading and gradually outsourcing manufacturing industries to the mainland, India and Vietnam, and other areas with low labor costs. The SAR has no advantage of low-cost human resources, but why can't we copy and set up high-end manufacturing capabilities such as scientific research, design, precision manufacturing, and microelectronics development in the SAR according to the US and Europe model, and transfer the low-end assembly and processing business of the industrial chain to the mainland."

"Compared with the United States and Europe, Hong Kong has a natural geographical advantage. Many Hong Kong businessmen have done this long ago. In the past, they transferred low-end industries such as toys and textiles. Why don't the government come forward to integrate high-tech industries such as chip design and manufacturing, automobile engines, and CNC machine tools. Using the mainland's human resources and resources, plus the advantages of Hong Kong's high-tech and international management, the two are closely combined and relying on the advantages of Hong Kong's free port to carry out international trade. Is it impossible to defeat Taiwan and Singapore?"

Bao Haisheng's eyes flashed. Obviously, Yang Xing's suggestion deeply touched him. "This requires the SAR government to issue a long-term plan now. You might as well go further and not make any major changes due to the government's change of leadership. I immediately conduct a survey on industries under the jurisdiction of the SAR. I think we can learn from the practice of establishing a special zone in the Mainland, establish preferential measures within the Hong Kong Special Administrative Region, attract high-tech enterprises to settle in the industrial park, and use the advantages of the SAR's financial and trade to serve them. I have been considering establishing the sixth industrial park of the group in Hong Kong recently. It would be great if the SAR government can support it." Yang Xing said this and then he realized that Yang Xing had been digging a pit here for a long time and was waiting for him, but he still had the idea of ​​getting a share of the pie!
Chapter completed!