Xia Tian knew that the so-called commercial building transactions seemed to be popular, but in fact they were just false fire.

The holders of these commercial buildings pretend to make transactions and reveal that someone will buy their buildings at a high price.

After the news reaches the stock market, it will stimulate the stock price to soar.

After these bosses make a lot of money from the stock market, who cares whether these commercial buildings can be sold?

This is like the very famous Jianing case in Hong Kong in its early years.

In the early 1980s, Chen Songqing from Nanyang founded the Jianing Group in Hong Kong. At that time, his net worth was between 7 million and 10 million Hong Kong dollars.

In 1979, Chen Songqing used hundreds of millions of Hong Kong dollars to buy the listed company Hanmei. This move attracted people's attention because they wanted to know why Chen Songqing, who had a net worth of only tens of millions, could use hundreds of millions of Hong Kong dollars to buy Hanmei. However, Chen Songqing did not explain much about this and pretended to be profound, which also made all sectors in Hong Kong more curious about his origin.

At the end of 1979, Land Land sold its Kinmen Building, which it just bought last year and cost 700 million yuan at the time.

In early January of 1980, Chen Songqing bought Kinmen Building with nearly 1 billion Hong Kong dollars. In two years, Land Land Company made a net profit of 300 million Hong Kong dollars, which has become a good story in the mall.

But Chen Songqing's move was so generous, it was also impressive. Especially within a year, he used up to hundreds of billions of Hong Kong dollars, which was quite generous in Hong Kong at that time.

Because of this transaction, the small company of Jianing Group attracted the attention of the market and its stock price began to soar since then.

In August 1980, Jianing announced that it had reached an acquisition agreement with Baishunning Group, which would acquire Kinmen Building for HK$1.68 billion.

In half a year, Jianing Group made nearly 700 million Hong Kong dollars. The news came, and Hong Kong was shocked. Jianing Group's stock price also soared from the previous three-yuan 8000 to fifteen-yuan 4000. In just a few months, it had risen five times.

Chen Songqing then used Jianing stock as collateral, borrowed large loans from the bank, and invested heavily in real estate. He either jointly developed the Miramar Hotel with Land, or invested $100 million to participate in the construction of Orlando, the United States... The total investment exceeded HK$6.5 billion.

All projects are projects with great influence. This also helps Jianing Group attract attention and frequently appear on the media.

In addition, Chen Songqing also wanted to be the shipping king, bought Vida Shipping Company; he also acquired Qichang Water and Fire Insurance Company, preparing to become an insurance tycoon; he bought a Hong Kong taxi company and saved thousands of taxi license plates...

After continuous development, Chen Songqing has established a huge business empire. In 81 alone, his company's profits exceeded 2 billion Hong Kong dollars, surpassing large companies such as Hutchison Whampoa, Land, and Jardine Mahjong, and even comparable to Huifeng.

As a result, the stock price of Jianing Group soared, and Chen Songqing became a super rich man who was not inferior to Li Jiacheng and Bao Yugang.

However, in 1982, the Hong Kong economic crisis broke out and the stock market and the real estate market plummeted.

Under such circumstances, Jianing Group, which has been relying on bank loans to develop rapidly, immediately emerged its true colors.

It turns out that it not only did not make an annual profit of HK$2 billion, but instead owed banks tens of billions of HK$10 billion, and it was already seriously insolvent.

At the same time, the public discovered that the transaction of the Kinmen Building, which Chen Songqing relied on, had not been completed at all. Baishunning Group did not spend HK$1.6 billion to buy his Kinmen Building.

In other words, the so-called Jianing myth is just a scam.

This shocking fraud case of over 10 billion Hong Kong dollars was established on the sale of a building, but in fact, the building has never been sold.

From this we can see how valuable this routine of buying and selling buildings can create.

...

The so-called commercial building transactions in Hong Kong are basically the same as Chen Songqing's routine.

Constantly spreading news and speculating around, making people mistakenly think that the trading of commercial buildings is very popular and profitable, so that investors can pay stupidly.

In recent years, the stock prices of real estate companies such as Land, Swire, and Hutchison Whampoa have soared one after another because their commercial buildings have been sold at prices higher than market expectations. They have made tens of billions of Hong Kong dollars by trading stocks alone.

At the same time, the more speculation and hot real estate market has attracted many buyers who don’t know the truth to take over. For example, real estate developers in Nanyang, real estate developers in Taiwan, and real estate developers in South Korea...

These places have been taking off in recent years, and their money has flooded and they have nowhere to spend a lot of money. When they learned that the Hong Kong real estate market transactions were so popular, they were naturally willing to get a share. But in fact, they were the ones who helped the British consortium take over.

In addition, it has to be said that the biggest buyers of these commercial buildings in Hong Kong are consortiums from mainland China. Because Hong Kong is about to return in 1997, many consortiums from mainland China come to Hong Kong to make outposts.

Some want to use Hong Kong as a springboard to develop to the whole world; some want to set up branches in Hong Kong so that they can bypass the blockade of the mainland by the United States; some simply want to invest in Hong Kong...

Since the mid-1980s, Chinese capital has made great progress towards Hong Kong. All central ministries, provincial, municipal and local state-owned enterprises have gone to Hong Kong to grab the beach. At its peak, there were thousands of Chinese institutions in Hong Kong.

Of course, not all of them are wise in terms of investment. Seeing that the Hong Kong property market is so hot, it is naturally not incredible to participate in it.

In fact, as far as summer knows, nearly 30% of Hong Kong commercial buildings were finally taken over by Chinese institutions. They thought they had invested in a good project, but when the real estate bubble was burst, it was too late to cry.

...

Xia Tian knew the harm of these things, but he couldn't dissuade them.

In Greek mythology, all prophets' fate is very miserable. Not only his enemies hate him, but they don't even like him.

In China, people who often predict bad things are called crows.

I don’t want to be a crow’s mouth in summer.

What he can do is sell his own property. If he can suppress the housing prices in Hong Kong, it will naturally be a good thing.

If the suppression fails, he can make some money.

Most of his properties were bought during the stock market crash in 1987. Now, nearly ten years have passed, the value of his properties has increased by nearly ten times.

Selling now can make a big profit.

In fact, Xia Tian is glad that he didn't sell all the houses at the beginning, so he can now sell them at such a high price.

This is also a good reward for good people.

And so many commercial real estate sales of Tianxia Real Estate have indeed made the market overwhelmed.
Chapter completed!