Chapter 693: 678 Legislative Council Live Broadcast, Guan Zu Sprays the King Again!

In the evening, ATV News and TVB News jointly broadcast the news of Bai Lide's arrest.

"Good evening, everyone..."

"Now reporting a major piece of news!"

"At 16:00 today, the ICAC received a report and mastered conclusive illegal and criminal evidence of Hong Kong Telecom President Bai Lide, and officially arrested him!"

"The following is the scene of the arrest..."

The camera switched to the arrest scene in the conference room.

After playing the arrest process,

Host: "Our station interviewed ICAC Investigation Officer Yu-sir."

The screen switched to the interview scene.

Reporter: "May I ask Yu-sir, has the ICAC mastered conclusive evidence?"

Yu Hongsheng was full of righteousness in front of the camera: "That's right, we have mastered conclusive evidence of President Bai Lide regarding profit transfer and tax fraud."

"Next week, we will summarize the evidence in our hands and officially file a lawsuit in court."

"Moreover, this is not just the crime of President Bai Lide alone, but also illegal behavior within the Hong Kong Telecom Group..."

"We are currently auditing Hong Kong Telecom's financial data..."

Finally,

Yu Hongsheng made a summary:

"Next, our ICAC will focus on a comprehensive audit of Hong Kong Telecom to find their illegal and criminal acts..."

"Please continue to pay attention, citizens..."

"Finally, on behalf of the ICAC, I would like to make a statement to all Hong Kong citizens: our ICAC will definitely uphold the original intention of the ICAC's establishment..."

"Past mistakes can make us even better!"

"Facing powerful forces, we will never compromise!"

"This time, even facing Hong Kong Telecom with a market value of over 100 billion, it is no exception!"

Resounding!

Many citizens watching Yu Hongsheng's impassioned speech were moved one after another.

Remembering the past, the ICAC broke the Four Great Sergeants, broke various major cases, and cleared up the unhealthy tendencies in Hong Kong.

Just then,

The screen returned to the host's side:

"Besides the incident of the ICAC arresting the Hong Kong Telecom President, another thing happened yesterday..."

"According to the Legislative Council, Mr. Guan Zu officially submitted the 'Proposal on Increasing Anti-Monopoly Regulations in the Telecommunications Market' to the Legislative Council yesterday and requested that the person in charge of the Hong Kong Telecom Group be present for a hearing..."

"We interviewed Mr. Guan Zu, and he stated..."

At this moment,

All Hong Kong citizens were spirited.

"It's here!"

"Mr. Guan really made a move after all."

"Damn, if Hong Kong Telecom is really going to be dismantled, then the stock market..."

"Opening tomorrow, Hong Kong Telecom's stock price is going to be finished."

Who in the stock market doesn't know Guan Zu's power?

Releasing rumors that he wants to dry Boss Li, Boss Li's company's stock price immediately goes to the street...

Saying he wants to dry HSBC, HSBC's stock price immediately goes to the street...

By the way, there's also Swire...

Battle record after battle record, Guan Zu has already accumulated—reputation! —in the hearts of retail investors.

Stocks targeted by Guan Zu won't have a good ending.

Can Hong Kong Telecom hide?

Some retail investors cried.

"Ah~~~~"

"Dead, dead... I didn't run from Hong Kong Telecom last week!"

"I didn't run either. Will it collapse tomorrow?"

"Damn, hurry up and withdraw!"

"Brothers, Hong Kong Telecom is going to have its mother die!"

"Wind is tight, run!"

……

……

The next day,

Monday,

Hong Kong's sun was bright... whether it was bright or not, retail investors had no time to care; they rushed to the Stock Exchange trading hall to queue up for the first time.

The Stock Exchange hadn't opened for work yet, but the door was already crowded with anxious retail investors.

The sun in the sky was bright, but their hearts were full of dark clouds.

9 o'clock,

The door opened, and citizens flooded into the trading hall crazily.

Then at 9 o'clock bidding, the stock price began to dive continuously.

"Finished~~~~"

Retail investors were even more panicked.

Retail investors were panicked, and those large institutions were even more panicked. Retail investors lose a few thousand or tens of thousands, but when these large institutions fall, they lose hundreds of millions. You must know that Hong Kong Telecom is the most important leader of the Hang Seng Index and has always been one of the stocks that funds like the most.

Now with this mess...

Panic escape!

Next, the stock market officially opened!

At the beginning, it fell sharply by 9.3%!

Retail investors and institutions had their last bit of luck extinguished and cried directly!

"Too terrifying, hurry up and run!"

"Mr. Guan's power is too terrifying."

"Ran, ran, can't afford to offend, can't afford to offend!"

"Hong Kong Telecom coffin reserved!"

And on the other side,

Five Star Group Financial Department, Fang Zhanbo and Ye Tian began to issue orders.

"Smash it for me! Smash it hard!"

"Absorbed 50 million shares last week, smash 10 million shares for me every hour!"

The entire department was bustling with activity.

……

That day,

The stock market ended, and Hong Kong Telecom fell sharply by 23%!

The market value evaporated by nearly 30 billion!

If it weren't for Hong Kong Telecom's monopoly being too hard and its foundation being too thick, it wouldn't have just been this little bit.

Moreover,

There were also many citizens and institutions waiting for tomorrow's Legislative Council meeting, regarding the hearing results, regarding the specific content of Guan Zu's proposal, and whether it passed...

……

……

A new day,

The day the whole of Hong Kong was watching had arrived.

"Yesterday, Hang Seng Leader Hong Kong Telecom's stock price plummeted by 23%!"

"Legislative Council meeting, will the dismantling of Hong Kong Telecom pass?"

"ICAC issues notice: Regarding the illegal acts of Hong Kong Telecom's President and Finance Director, a lawsuit has been officially filed in court!"

"Where is the future of Hong Kong Telecom?"

"Legislative Council uses television live broadcast for the first time to broadcast this meeting"

All newspapers in Hong Kong focused their headlines on Hong Kong Telecom.

8:30 AM,

Guan Zu sat in a black Chevrolet and arrived outside the Legislative Council building.

At this time, a large number of reporters were already waiting here.

Seeing Guan Zu arrive,

*Boom boom boom~~~~*

They swarmed to the car window.

Guan Zu got out of the car.

"Mr. Guan..."

"Guan..."

A pile of reporters asked questions, *buzz buzz buzz~~~~*

Guan Zu didn't answer their questions: "Everyone, I need to conserve my energy now, waiting for the Legislative Council meeting later, as well as the hearing against Hong Kong Telecom... I hope everyone understands."

Many reporters, upon hearing this, didn't make things difficult for Guan Zu anymore and made way one after another.

They dared not not make way~~

They were afraid of being beaten~~ the kind that was really beaten!

After Guan Zu entered the Legislative Council, other Legislative Council members arrived one after another, the Chairman and Vice-Chairman arrived...

……

9:30,

Legislative Council Main Conference Hall,

The Chairman, Vice-Chairman, and the remaining 58 members were all in place.

Watching the fun... no, how could they miss the matter of pleading for the people?

In addition,

There were special guests—TVB and ATV.

And it was a live broadcast!

This time, Guan Zu applied to the Legislative Council for a live broadcast, broadcasting this Legislative Council meeting to all Hong Kong citizens through two television stations.

All Hong Kong citizens liked to watch gossip.

They wouldn't miss such fun.

Moreover, it had long been rumored that Mr. Guan was the "Spray King" of the Legislative Council and liked to spray people when holding meetings.

This hearing would definitely spray to a new height.

Besides these people, there were two others.

One was Hong Kong Telecom's Vice President Zhang Lin, and the other was his assistant.

Zhang Lin studied at Wah Yan College in the 1960s. After graduating from the Department of Economics and Political Science at the University of Hong Kong in 1971, he joined Cathay Pacific Airways and worked for 23 years, having served as Deputy Managing Director of Cathay Pacific and Executive Chairman of ATV. In 1989, he was invited by the then Viceroy of Hong Kong, David Wilson, and was seconded full-time to work in the Central Policy Unit of the Hong Kong government.

In 1994, which was the beginning of this year, he joined Hong Kong Telecom as Vice President.

This time, because Bai Lide was detained at the ICAC, only Zhang Lin could come to accept the Legislative Council hearing.

Zhang Lin actually wanted to borrow the incense fire relationship of ATV to visit Guan Zu, but Guan Zu didn't see him at all.

"*Bang bang bang~~~*"

"Alright, everyone is here, let the meeting begin."

Chairman John announced the start of the meeting,

"Today's meeting has 2 topics."

"First, it is the hearing on Hong Kong Telecom..."

"Second, it is to discuss the 'Proposal on Increasing Anti-Monopoly Regulations in the Telecommunications Market' submitted by Councilor Guan Zu."

"Now, let the first topic begin, and let the hearing proposer, Councilor Guan Zu, deliver a speech..."

Guan Zu tapped the microphone,

"Respected Chairman John, Vice-Chairman William, fellow councilors, and all the citizens watching on television..."

"By the way, there is also Vice President Zhang Lin of Hong Kong Telecom who is accepting the hearing..."

Guan Zu, the crowd, and the camera all aimed at Zhang Lin.

Zhang Lin smiled awkwardly.

Guan Zu tapped the table with his fingertips, his gaze like a torch sweeping across the conference hall: "The reason why Zhang Lin was summoned for a hearing today is to ask Zhang Lin to answer some questions."

"First, the first question..."

"The issue of Hong Kong Telecom's profit margin..."

Guan Zu raised a document in front of everyone and the television audience,

"According to a survey I entrusted the University of Hong Kong to do, the average monthly communication expenditure of Hong Kong citizens accounts for 8.2% of their income, while Singapore is only 1.8%."

"Then, according to the financial data released by Hong Kong Telecom, the profit margin is as high as 35%. From 1990 to 1993, the profit margin was above 30%, with profits of several billion..."

"Moreover, this profit margin was achieved on the basis of falsely high costs and tax evasion..."

The entire hall of councilors was silent.

Listening to this data, they all felt it was really too much!

It was simply crazy earnings, wasn't it!

Guan Zu looked at Zhang Lin with a calm gaze: "Mr. Zhang Lin, do you have any rebuttal to the data I just proposed?"

Zhang Lin slapped the table: "Yes!"

"First, regarding the first piece of data, 8.2% for Hong Kong citizens and 1.8% for Singapore, the source of this data cannot be determined, so it cannot be taken seriously..."

Guan Zu was confident: "When the time comes, I will let the newspapers publish the entire collection process and thesis data... I guarantee to make you convinced."

Zhang Lin: "There is also the third piece of data, saying that our company falsely reports costs and evades taxes. This is slander."

Guan Zu: "Slander? Your President and Finance Director have already been arrested by the ICAC, and the charges include these two, and a lawsuit has already been filed in court. I don't believe that with the ICAC's professional ability, they would frame you!"

Zhang Lin: "Wasn't the ICAC's professional ability already questioned last time?"

Guan Zu chuckled: "Mr. Zhang Lin, you are quibbling like this; let's see if the 5 million citizens of Hong Kong believe you..."

The citizens of Hong Kong watching the news live, looking at Zhang Lin's quibbling just now, couldn't possibly believe him.

Please, we believe Zu-ge!

What kind of small fry are you!

"Alright."

Guan Zu: "Since Mr. Zhang Lin has no substantive evidence to defend himself, then I will continue."

"Everyone should remember Hongkong Electric..."

"At that time, while maintaining high profits, Hongkong Electric wantonly increased electricity prices, so the Legislative Council issued the 'Restriction on Electricity Prices' agreement, limiting electricity prices to a profit of 9.99%."

"Why was the profit limited at that time?"

"The only reason is—Hongkong Electric is a livelihood enterprise in Hong Kong, and it is also a monopoly enterprise in the Hong Kong district!"

"And now, Hong Kong Telecom is also a basic livelihood enterprise. It has no competitors. It relies solely on sucking blood from all Hong Kong citizens, and it has already gained a profit margin of over 30%..."

"Then—what right does it have to sit on a windfall profit of 35%?!"

Guan Zu suddenly slapped the table and stood up, startling the microphone into making a harsh buzzing sound,

"Just because all Hong Kong citizens have no second choice? So you can lie on our 5 million citizens and drink blood?"

Zhang Lin stood up with a flushed face to protest: "Protest! Councilor Guan Zu is misusing words and deliberately smearing Hong Kong Telecom..."

He protested for a while,

but the audience watching the live broadcast in Hong Kong was not moved at all.

Instead, Guan Zu's words went straight into their hearts.

That's right, damn it, what right does it have?

Damn it, sucking my blood!

Zhang Lin continued to protest: "And... Councilor Guan Zu keeps saying our company sucks blood, but doesn't mention our company's huge investment in Hong Kong's infrastructure, laying lines, maintaining base stations—these are all real money!"

"Manpower and material resources? Hahaha~~"

Guan Zu laughed, then said coldly: "Regarding the issue Mr. Zhang Lin mentioned, my answer is very simple: In 1883, Cable & Wireless was established in Hong Kong, a monopoly business. In 1925, Hong Kong Telephone Company was established in Hong Kong, the two companies monopolized together... and then in 1987, the two companies merged..."

"In other words, Hong Kong Telecom's history exceeds 111 years!"

"Can't the monopoly profits of 111 years cover this so-called 'huge manpower and material resources spent'?"

"Others build a bridge and collect bridge tolls for 20 or 30 years to win profits; it's very reasonable, and we can all understand it. But you've been at it for 111 years, sucked Hong Kong's blood for 111 years, and it's still not enough?!"

Zhang Lin: "............"

His throat rolled, but in the end, he didn't dare to answer—if he dared to reply "not enough," tomorrow's front-page headline could nail him to the pillar of shame.

Guan Zu's gaze swept across the audience and the live camera.

"Everyone..."

"The hearing just now, all Hong Kong citizens have heard clearly! Where does Hong Kong Telecom's high profit come from? It's not by technology, it's not by service, it's by a monopoly license to suck dry the blood of people's livelihood!"

His voice suddenly became impassioned, like a heavy hammer hitting everyone's heart:

"No competition, no bottom line! No supervision, no lower limit! If we don't dismantle the monopoly today, tomorrow they can raise phone bills to half of our wages! We have endured for 111 years, do we have to let our descendants, Hong Kong's future, endure for another 111 years?!"

At this very moment,

All the councilors in the hall were moved.

Guan Zu's "do we have to let our descendants, Hong Kong's future, endure for another 111 years" hit the heart directly!

Even those banana people and councilors who yearned for Great Britain were incited by Guan Zu's language.

That's right, damn it, this Hong Kong Telecom is sucking my blood!

Damn it, do we have to let it suck my blood for another 111 years?

And the citizens watching the live broadcast in Hong Kong were even more boiling with blood.

"Well said!"

"I absolutely don't want to endure for another 111 years!"

"Must dismantle!"

And Zhang Lin, who was aimed at by the live camera, had a face that was green and purple.

……

Viceroy's Mansion.

Patten watched the television, his heart completely convinced.

"Here he comes again!"

"Kidnapping public opinion!"

"Is this what that Chinese saying means—standing on the side of the people?"

"Very good, I am now also standing on the side of the people (crossed out) money!"

————————

ps: There is another chapter later...

(End of chapter) ===== CHAPTER 694 =====