On September 10, the Financial Secretary of Hong Kong announced that the Exchange Fund Investment Co., Ltd. and a Tracker Fund were registered to manage the more than 110 billion Hong Kong dollars in stocks purchased during the "market entry" operation. The Exchange Fund, through Tracker Fund, will hold shares in the stock market. Some Hong Kong stocks were smoothly transferred to the hands of Hong Kong investors, successfully completing the historic mission of rescuing the market.
All parties in Hong Kong have concluded from the victory of this financial defense war in Hong Kong that even in a market that believes in a free market economy, when faced with the crazy short-selling behavior of international speculators, in addition to strengthening financial supervision, it is necessary for the government to intervene in the market.
The Western media, led by the United States, criticized Xiangjiang's rescue operation for violating the principles of market economy. I also saw on the Internet that a group of people in China were cheering for the Western media. Sun Jian laughed it off and waited until the "911" broke out to watch the Western media again. Ugly face.
Western media are institutions controlled by capitalists and serve the interests of Western capitalists and parties.
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"Mr. Sun, the Asian financial crisis is coming to an end. The central bank has cut interest rates three times and the Hang Seng Index has stabilized. I think investment opportunities in the Shanghai Stock Exchange are coming."
On September 10, the Penghu stock market broke through with volume, and the Shanghai Composite Index closed at 1213.76 points, up 1.93%. It rose in volume for two consecutive days, reaching 1200 points again, and the stock market began to boil.
Jin Weimin, manager of htIc Investment Consulting Company, took the initiative to apply.
"President Jin, the impact of Russia's national debt default is still in the process of fermentation. It won't be too late for us to take action after the Chinese New Year."
"Okay, Mr. Sun!"
Sun Jian, who has been paying attention to the trends of Penghu stock market, remained unmoved.
The Penghu stock market is bullish and bearish, and has no long-term investment value.
In the last bull market, the Kunpeng Student Aid and Poverty Alleviation Foundation entrusted 300 million yuan and 200 million yuan to htIc Investment Consulting Company and htIc Investment Consulting Company respectively. According to Sun Jian’s instructions, it purchased Sichuan Changhong within half a month. , Peng Development, Peng Technology, Su Wumao, Xindazhou, Guangdong Baoheng, Nanyou Property, Su Changchai and other large numbers of blue chip stocks, diversified investment, held shares unchanged, and cashed out, making a profit of 2.463 billion yuan, a profit of 492% , the main reason why it did not outperform the Pengcheng Index is that 200 million yuan of entrusted funds only arrived in early April 1996.
In this bull market, Sun Jian also made a profit of 201 million yuan by operating his family's account, a profit of 670%, which outperformed the largest increase in the Pengcheng Index!
Since before May 1997, after clearing out the stocks of Shanghai Peng Stock Market at a high level, Sun Jian took out 220 million yuan and 2.5 billion respectively from his family's stock account and the stock account of the Kunpeng Education and Poverty Alleviation Foundation because he was not optimistic about the future market. Yuan was deposited in Minshen Bank on a fixed term basis for one year, and the rest was deposited in current deposits for future use.
The stock account has always maintained a short position. Sun Jian did not worry about the rise and fall of the Shanghai Peng stock market and waited to re-enter the market before May 19, 1999.
On October 23, 1997, the central bank announced that the one-year bank interest rate dropped from 7.47% to 5.67%; on March 25, 1998, it dropped again from 5.67% to 5.22%; on July 1, 1998, it dropped again from 5.22% It has dropped to 4.77% today; the current interest rate has dropped from 1.98 to 1.44% today.
On May 7 this year, when the one-year deposit period expired, my family’s account received an additional 12.474 million yuan in interest income and 356,000 yuan in new income. The Kunpeng Student Aid and Poverty Alleviation Foundation’s account received an additional 10,000 yuan in interest income and 3.475 million yuan in new income. Yuan of new income.
A year of practice has proven that if large amounts of funds are deposited and withdrawn in lump sums, the interest earned is more than the money earned from new transactions.
All the funds in the family's stock account and the stock account of the Kunpeng Student Aid and Poverty Alleviation Foundation were transferred to the current account, and the stocks that won the lottery were cashed out after the daily limit was opened.
During this period, the market capitalization of Shanghai Peng stock market is not needed to buy new stocks. Market institutions and retail investors are keen to buy new stocks. As soon as new stocks are issued, capable people borrow short-term loans from banks to buy new stocks. There is no need to worry, no rush, and a business that is sure to make profits without losing money. .
Funded 20 million yuan for Jiangcheng Yikang Hospital, and paid more than 16.87 million yuan for medical expenses for hospitalized poor families. Before the start of school, poor students donated 50 million yuan, 20 million yuan for flood fighting and disaster relief, and the alma mater donated 2 million yuan, etc., to So far, a total of more than 10,000 yuan has been donated.
Today, the Kunpeng Student Aid and Poverty Alleviation Foundation has more than 10,000 yuan in its account.
Nearly 70% of the funds in the Kunpeng Student Aid and Poverty Alleviation Foundation's account come from the Penghu stock market, more than 20% from pENG's dividends, and the rest from bank deposits and donations from Taobao Holdings. So far, more than 10,000 yuan has been donated .
Take it from the people and use it for the people!
Sun Jian hopes that by 2000, the funds in the Kunpeng Student Aid and Poverty Alleviation Fund account will reach 10 billion yuan.
It is difficult for ordinary people to make their first pot of gold, but once they become rich, money begets money and it is much easier to make money.
Since the Penghu stock market began to fall on May 12 last year, despite two 20% increases, it has still rebounded and has been in a bear market. The daily trading volume of the Shanghai stock market is less than 5 billion yuan, and that of Peng City is less than 4 billion yuan.
If a big fund like the Kunpeng Student Aid and Poverty Alleviation Foundation entered the market in one day, it would cause a storm, and it would have to enter the market at least 2 months in advance to attract goods.
Affected by the Asian financial crisis, the domestic economy is in a state of deflation. In order to reduce the burden on enterprises, increase their direct financing opportunities, and activate the Shanghai stock market, the central bank and the China Securities Regulatory Commission have successively introduced a number of policies and measures.
In less than a year, the central bank passed three major interest rate cuts, with one-year deposits falling from 7.47% to 4.77% and one-year loan interest rates falling from 10.98% to 7.11%.
On March 25, the central bank lowered its deposit and loan interest rates for financial institutions. Among them, the annual deposit interest rate was reduced by an average of 0.16%, the annual loan interest rate was reduced by an average of 0.6%, and the statutory deposit reserve ratio was reduced from 13% to 8%.
On April 9, China Asset Management Co., Ltd. was established in Beijing. This is another national fund management company after Southern Fund Management Co., Ltd. and Cathay Fund Management Co., Ltd., with a registered capital of 70 million yuan.
On April 22, Xinghua Securities Investment Fund was launched online on the Shanghai Stock Exchange. The fund issued 2 billion fund units and adopted a closed-end contract with a duration of 15 years. This is after Fund Kaiyuan and Fund Jintai. , the third securities investment fund approved to be established.
On June 12, with the approval of the State Council, the State Administration of Taxation decided to reduce the stamp tax on securities transactions, with the stamp tax rate reduced from 5‰ to 4‰.
On July 23, the boards of directors of Cathay Securities Co., Ltd. and Junan Securities Co., Ltd. jointly issued an announcement that the two companies would merge in accordance with the law and establish Guotai Junan Securities Co., Ltd.. The new company will have two holding subsidiaries and five branches. The company has 113 business departments in various regions and 59 securities service departments. The registered capital is RMB 3.72718 million, surpassing Pengcheng Securities Company and becoming the largest securities company in China.
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