The heads of the gentry from Guangzhou, Nanhai, and Panyu, some with their children and some with their servants, entered the school one after another. Many citizens who were concerned about the new policies of the Senate also came, and small merchants and hawkers with keen sense of smell came one after another. Set up a stall outside the academy gate and start a temporary business. For the safety of the elders, Liu Xiang specially transferred manpower from the Guangzhou National Army's sword-drawing team to guard at the entrance. He also specially selected a number of people from the government officials who used to work in Guangdong Gongyuan to be responsible for checking whether the visitors were carrying dangerous goods. Enter.
These old police officers are all used to inspecting students rushing to take exams, and they have extremely rich experience in inspections. As long as no one says hello and lets go, any weird cheating items can be found. It's just that most people wouldn't be polite at all. Many scholars hate and fear the "inspection" of the examination institute. The handsome and young ones will inevitably be "taken advantage of" and "eat tofu" by these government officials. So the reputation is very bad.
So while Mu Min recruited these people to serve as security inspectors, he also did a good job of training them. In particular, the inspection procedures should be standardized to clarify the parts and intensity that can be touched, and it is prohibited to touch all over the body to avoid unnecessary disputes.
In order to facilitate the inspection of women, a number of female security inspectors were recruited from the female relatives of these people.
Under the command of the security guard, Chen Bangyan raised his hands, turned around, lifted his feet, and checked that nothing was abnormal all over his body before he was let in. After a moment in front of the security guard, Chen Bangyan made eye contact with him, nodded slightly, and then walked over quickly.
After the boring and lengthy policy presentation, Liu Xiang continued:
"Now we invite the Secretary of the Guangzhou Securities Regulatory Commission, Mr. Ren Youzi, to speak on the recent paper and cotton crisis and answer reporters' questions!"
It was the opinion of the publicity department to hold a press conference. In addition to Yangcheng Express, Guangzhou currently has many newspapers and magazines.
Although some elders believe that there is no need to run multiple newspapers, publicity outlets believe that having more news units is not a bad thing. After all, indigenous people have a great demand for information at this stage, whether it is promoting literacy, promoting the New Deal or popularizing science. Multiple communication channels.
Most of these newspapers and publications have Australian backgrounds, and most of them moved from Lingao. Including the old publications "Tianshui Life Weekly", "Readers' Friends", "Dianshizhai Pictorial" and so on. There is also pure private capital. Yes, there are already indigenous people who have realized the significance of "newsprint". Although their concepts of "news" and "media" are still vague.
At the signal of a naturalized civilian cadre, everyone began to applaud. Accompanied by applause, a middle-aged man wearing a white shirt and black trousers walked up to the microphone. He cleared his throat twice and spoke with a smile, but no sound came from the speaker. The frowning man patted the microphone, but there was still no movement. That's it for the aboriginals. There was a burst of quiet discussion among the naturalized cadres behind. You could faintly hear the dialogue of "something went wrong again" and "this is still the latest technology."
Ren Youzi turned back to greet a young man and whispered: "Bring the loudspeaker here, yes, yes, it's the one you call Daggong."
"Hey, hey, hey," "Everyone, please be quiet." "Please be quiet, please."
While speaking, Ren spread his hands flat to indicate, and the crowd gradually became quiet.
"I think I'm not late today." Ren smiled, but there was no reaction from the audience, and Ren shook his head slightly.
"Hello, comrades, journalists, and fellow citizens of Guangzhou. Today, on behalf of the Senate, I would like to briefly talk about the views of the Senate and the measures we will take regarding some recent minor fluctuations in the financial market in Guangzhou."
"We have noticed that recently, some traders and investors have invested in so-called paper cotton. This is a financial tool that has emerged spontaneously among the private sector. We believe that everyone has good intentions and wants to solve the problem of buyers and sellers wanting to lock in future costs and The actual demand for income is to promote the long-term development of our planting industry and textile industry."
Echoes came from the crowd, and many people nodded frequently.
"However, paper cotton, this kind of forward contract that is not yet very standardized and very mature, in actual operation, because there is no restriction by a strong intermediate guarantee institution, a lot of irrational behavior occurs. For example, we have observed that unreasonable behavior Actual naked shorting, forced positions, excessive turnover rates, quotations seriously deviating from recent transaction prices, self-buying and self-selling, trading, blindly increasing leverage, ah, have led to some tragedies happening to some people with poor tolerance. These are not manifestations of a healthy market.”
"So, what conclusion has been drawn by the hospital's research and judgment? We just say that this paper cotton should have been taken care of long ago!"
Everyone looked at each other, and then small groups started talking quietly.
Ren Youzi, who kept smiling, continued to speak.
“Since its establishment, the Guangzhou Exchange has successively issued non-preferred stocks and bonds of high-quality and efficient large enterprises and large companies, including Nanyang Company, Dabo Shipping, Runshitang, Foshan Iron and Steel, etc., which has opened up a path for the real economy. The financing highway has also provided investors with better investment options, and the results are obvious to all, and the institute is also highly affirmative, ah highly affirmative.”
"However, the recent private paper and cotton trading has sounded the alarm for us. OTC trading is not regulated by the government. Although the transaction itself is not illegal, the risk is very high. Some investors do not have this ability. You know, I had to borrow a loan shark, but it turned out to be such a big problem! I had no choice but to sell myself to Nanyang... Ah, selling myself... is very difficult. We didn't pay enough attention to this derivative before, and I have to do it here too. We are deeply saddened by this review and failed to guide everyone's urgent needs in a timely manner and follow a standardized and standardized path, which led to the current situation."
"Next, we will start a 100-day campaign to crack down on illegal transactions and thoroughly clean up all kinds of illegal activities. In addition, we are also studying, ah, what is this study... mainly studying how to satisfy everyone's investment... Investment needs. I know that Guangzhou is a prosperous and prosperous place, and the amount of social hot money is very large. So we are also studying, besides bonds, are there any other investment directions? This time paper cotton The incident also inspired us! So we will launch standard cotton futures and cotton yarn futures at the appropriate time - not now, but at the appropriate time, so as to provide manufacturers and investors with the highest standard of financial derivatives services. At the same time, we enjoy the highest level of investor protection. This is also a positive response to the institute’s call for finance to effectively serve the real economy.”
"Okay, that's all I'm going to say here. I'd like all reporters to ask questions in an orderly manner."
As soon as he finished speaking, a young man wearing glasses standing at the front immediately raised his hand. Ren nodded, and the young cadre handed him the loudspeaker.
"Hello, Chief Ren, I am a reporter from the "Yangcheng Express". May I ask what specific regulatory measures the Senate has for futures that are about to be listed? When will the contract information be announced? Thank you!"
"That's a very good question. But we can't say it's about to be launched yet. After all, you can't become fat by eating it all at once. The conditions in this area are not mature yet and require long-term research and preliminary preparation. So we will launch a 'prepayment far away' product." It is a simple model of futures contracts with controllable risks. At the same time, we will promulgate the corresponding futures trading management regulations, which will be upgraded to law depending on the situation. As for the draft regulations, we will also publish a draft for comments, and we will fully solicit the opinions of the broadest audience. Opinions of market participants. Regarding contract information, we will also seek your opinions. What I can disclose here is that based on Da Song’s mature derivatives trading experience and combined with local actual conditions, it should be able to ensure market liquidity and Can meet the requirements for commodity delivery. OK, next person."
A charming young woman raised her hand, and Ren happily directed the young cadres to let her speak.
"Dear Chief, hello! I am Xue Xiao, a reporter from "Friends of Readers". I am very happy to meet you again today. I feel very honored! I would like to know more about the highest level of investor protection you mentioned, specifically. In what ways is it reflected?”
"Ah...well..."
Everyone suppressed their surprise and waited for the reply from Chief Ren, who rolled his eyes to the sky.
"The situation is like this. First of all, we will levy a certain proportion of the investor protection fund on each transaction. This clause is already in effect for securities transactions. Considering that derivatives are a new thing and have relatively high risks, we will initially Charging a slightly higher ratio is also a way to curb excessive speculation. Secondly, we will also strictly manage investor access, requiring only qualified investors with certain experience and risk tolerance to trade. Thirdly, we will strengthen Investor education, the concepts of investment risks, caution in trading, caveat emptor, etc. are deeply ingrained in people’s minds. Hmm.”
"We are very grateful to the chief minister for taking time out of his busy schedule to communicate with us."
"Next person."
... To be honest, such press conferences and Q&A are somewhat of a performance in nature, mainly to allow the indigenous people to understand and understand the format of the "press conference" and gradually become accustomed to obtaining authoritative information from the Senate through press conferences. However, this question and answer session was not scripted in advance, and it was more or less left to the elder Ren to freely express himself.
In fact, the wealthy Jin gentry didn't really understand what he said, but they had heard about the paper cotton incident to some extent. However, contrary to the estimates of the elders, almost no one from the wealthy Jin gentry was involved in it. On the contrary, the housekeepers, servants, The servants like the accountant and the concubines at home are involved. For the big investors, buying and selling short is still too bold for them.
It seems that the Senate is not disgusted with this kind of transaction, and there seems to be encouragement in their words. But it’s no wonder, who doesn’t know that Australians value money the most.
