As October begins, Hong Kong's economy has suffered another heavy blow.

The reason is that Middle-earth and England have huge differences on the issue of the future ownership of Xiangjiang.

The news reached Xiangjiang, which immediately caused panic.

British companies are worried that once Hong Kong returns, their background advantages will disappear, which will affect their operations.

For example, the only airline in Xiangjiang is Cathay Pacific Airways, a subsidiary of Swire Airlines. It monopolizes Xiangjiang's air passenger and cargo business and makes a lot of profits;

For example, the only two power companies in Xiangjiang, China Power and Hong Kong Electric Lighting, are also owned by the Kadoli family and Jardine Group.

For example, the only cross-border telephone number in Xiangjiang is owned by the Dadong Telegraph Office with a British background. Xiangjiang is a world-class financial center and needs to make cross-border telephone numbers every day and send countless cross-border telegrams. The Dadong Telegraph Office has the franchise, so the profits are naturally very rich.

In addition, tram companies, bus companies, cable cars companies, ferry companies, gas companies, bookmakers, radio stations, undersea tunnels, etc. are monopolized by British capital.

The reason why these companies can obtain franchise is precisely because they are all British-funded backgrounds that the Hong Kong and British government favors them.

If Xiangjiang returns, their monopoly operations will naturally be broken. At that time, both the status of the industry and the profits of the company will decline significantly.

Therefore, they are particularly worried and deliberately create panic, which makes Xiangjiang citizens frightened, thus resisting their return by resisting public opinion.

...

Under their deliberate incitement, the citizens were frightened and worried that once Xiangjiang returns, their personal and property safety will be affected.

For this reason, many citizens choose to sell their assets and immigrate overseas, most of which are stocks and real estate. This has caused the stock market and real estate market in Xiangjiang to suffer a heavy blow again before they recover.

In February and March, the Xiangjiang stock market fell from its highest point of 1,445 points to 646 points, with a drop of 55%.

After four, five, six, seven, eight and ninety-six months of recovery, the Xiangjiang stock market slowly rebounded to 862 points. Compared with the lowest level in March, it rose by nearly 33%. Although it is far from the highest point at the beginning of the year, it is still good.

But now, because of this storm, people's confidence collapsed, and the stock market took a sharp turn for the worse again. From 862 o'clock to 721 o'clock in one day, the drop was as high as 16%.

And this is just a starting point. In the next two months, the Xiangjiang stock market kept fluctuating and falling. From 862 points, it stumbled all the way to 402 points, with a drop of more than 53%.

As for the property market, the decline was also terrible.

Because the prospects for Xiangjiang are unclear, real estate companies dare not acquire land for development, and those who are preparing to buy property dare not invest, which has caused the housing prices and land prices in Xiangjiang to plummet rapidly.

For example, the residential building in the North Point, costs 1,060 yuan per square foot in 1981, and by the end of 1982, it fell to 430 yuan, a drop of 58%.

The high-end residential land on Nanwan Road, Hong Kong Island sold for 1852 yuan per square foot in 1982, and fell to 430 yuan per square foot at the end of 1982, a drop of 78%.

In addition to the severe setbacks in the stock market and the real estate market, Xiangjiang's freight, retail, tourism, manufacturing, finance and other industries have also been hit to varying degrees.

Xiangjiang's economy just experienced a stock market crash in the first half of the year, and now it has suffered another heavy blow. It can be said that the roof is leaking and raining, and the boat is late and the wind is on the head.

The general public is the most pitiful. They suffered a lot of blood in the first half of the year, but were slaughtered again in the second half of the year. Because of the real estate market and the stock market plummeted, their net worth shrank again.

Moreover, due to the sluggish economy, all industries were in trouble, which also put their jobs in jeopardy. By the end of 1982, the unemployment rate in Xiangjiang had reached 8% and nearly 300,000 people lost their jobs and had no salary.

Behind the 300,000 unemployed workers is 300,000 families. Based on an average family of three, that is millions. So many people have no income and no food or clothing, but it is quite a miserable thing.

Such a bad economic situation also made the people's panic more and more. In the fourth quarter of 1982 alone, the number of people applying for immigration reached 500,000, accounting for one-tenth of the total population of Xiangjiang, which can be said to be quite high.

Because there are too many people who want to immigrate, the agencies that handle passport business have sprung up like mushrooms after a rain. On the street of the Central Embassy in Hong Kong Island, within two or three months, there are as many as thousands of newly opened passport companies.

On the black market, an Amerika passport was priced at $500,000 per ticket. Even so, there are still many people who pay for it. This shows how firm the people's attitude towards immigration is.

...

In addition to people leaving, funds also flowed out significantly. In the fourth quarter of 1982 alone, the loss of foreign exchange in Xiangjiang reached a huge amount of US$5 billion.

In addition, companies such as Jardineyah, Land, Baohua, Xingye, and Guanya have also released rumors that they will move from Xiangjiang to overseas. The so-called relocation is the company's relocation registration place.

In this way, the company's supervision, taxation, operation, etc. will be greatly affected. Although it is not the same as the complete withdrawal of Xiangjiang, the symbolic meaning is still very strong.

These large companies have been saying they want to relocate, which has further aggravated the public's panic. More people want to immigrate overseas have become.

The big companies' statements about relocating the company also caused the Xiangjiang economy to continue to fluctuate and fall.

Because many of these companies that have made relocation are listed companies, and there are also many industry giants, such as Jardine Mathematics, Land, Milk, etc.

According to statistics, as of the end of its return, a total of 77 listed companies in Xiangjiang have been relocated. As for unlisted companies, although there are no accurate statistics, there are estimated that there are more than a thousand.

"Mr. Ye, do you think we want to transfer the registration?" Luo Kangrui called Ye Jin and asked.

His father's Eagle King Real Estate is already considering the issue of relocation. Although there is no final conclusion yet, the probability of relocation is very high. His father also advised him to move the company out to avoid property losses in the future.

However, Luo Kangrui is only a small shareholder of Tongxin Real Estate. He cannot decide on major corporate affairs such as [relocation], and must be left to Ye Jin Qiangang to make arbitrary decision.

"I don't think it's necessary." Ye Jin smiled, "Xiangjiang is just going to return, and it's not the end of the world. As for panic, I'm so optimistic about the future development of Xiangjiang, and I'm not going to leave it."

"Mr. Ye, are you not afraid at all?" Luo Kangrui asked in surprise when he saw Ye Jin so confident.

You know, the business community in Xiangjiang is now generally pessimistic, and they are thinking about immigration, relocation, etc. Like the 500,000 US dollars black market passport, it was speculated by these rich people.
Chapter completed!