Chapter 784: 776 Banks, Media, and Property Developers, All Slapped in the Face

At a certain tea restaurant,

A group of elderly men and women were drinking tea, watching Director Director Director Director Director Director Guan Zu's statement on the television.

Auntie Zhang slapped her thigh excitedly and said, "That's great! Finally, someone has stepped up to manage these housing prices! My son and daughter-in-law were planning to buy a home this year and were scraping money together everywhere for the down payment, but the prices were being driven higher and higher by this group of people. We couldn't even buy one if we wanted to; it was driving me crazy. Now it's better; with Mr. Director Director Director Director Director Director Guan's old building renovation plan, along with the construction of low-rent and affordable housing, we don't have to rush to buy a home anymore..."

Uncle Li next to her nodded repeatedly: "That's right, since Mr. Director Director Director Director Director Director Guan has said so, we can just wait with peace of mind. It will definitely allow us old neighbors to afford a home."

"Mr. Director Director Director Director Director Director Guan's criticism is spot on!"

"Those black-hearted property developers and banks really need to be properly disciplined!"

Everyone chimed in, and the anxiety they originally felt about buying a home gradually subsided.

At a certain school,

In the canteen.

Several teachers were sitting and eating, watching the news on TV and discussing Director Director Director Director Director Director Guan Zu's press conference heatedly.

Teacher Wang said excitedly: "I had originally planned to grit my teeth and borrow from all my relatives and friends to scrape together a down payment, but these damn housing prices have skyrocketed. The plans Mr. Director Director Director Director Director Director Guan proposed are so timely; they've given me hope for buying a home."

Teacher Zhao next to him nodded and said: "Exactly. I was always worried that housing prices would only rise and never fall, and that if I didn't buy sooner, I wouldn't be able to afford it later. Now with Mr. Director Director Director Director Director Director Guan here, I feel much more at ease. The matter of buying a home can be taken slowly."

Everyone expressed their agreement. The atmosphere, which had been slightly oppressive due to the pressure of buying a home, was now full of hope for the future.

Director Director Director Director Director Director Guan Zu's press conference was like a bucket of ice water poured onto the scorching housing market craze.

The sales offices that were once bustling with activity had suddenly turned cold.

At the South Horizons residential complex,

In the spacious and bright lobby of the sales office.

This morning, it was still packed with customers coming to view properties and consult, busy as could be.

By the afternoon, the number of people in the entire lobby began to drop rapidly, and the sales staff, who had been busy non-stop, began to grow idle.

The occasional customers who came in would just take a hurried glance after entering, and under the eager gaze of the sales staff, they would look perfunctorily, showing not the slightest interest in learning more.

As for the secondary housing market at South Horizons, those owners who had previously been crazily raising prices were now anxious.

This afternoon, a buyer and an owner happened to be sitting together for their third round of negotiations, facilitated by an agent.

In the real estate agency office, the air conditioner unit on the wall made a creaking sound.

The owner, Mr. Chen, sat in his chair, feeling restless inside.

"Ms. Lin, my property is in such a great location, and the surrounding amenities are complete. We've already talked five times, and the price is almost there. I'll drop 100,000 today, 6.4 million. Shall we sign the papers today?"

The buyer, Ms. Lin, sat opposite him, crossing her legs. She picked up her teacup slowly, took a light sip, and looked calm: "Mr. Chen, you also know the current situation. Mr. Director Director Director Director Director Director Guan Zu said he wants to regulate the housing market, and everyone is in a wait-and-see mode. Now, I'm actually not in a rush."

They had been talking for 10 days, and including phone calls, they had communicated over twenty times.

The owner had raised the price twice on the spot, acting arrogantly, saying things like, "That's just how the market is now, take it or leave it." If Ms. Lin hadn't been in urgent need of a home, she probably would have wanted to slap Mr. Chen across the face.

Now, the situation had reversed.

It was Mr. Chen's turn to be anxious.

Ms. Lin said unhurriedly: "Mr. Chen, I came today only because the layout of this house is not bad. 5 million. If you aren't willing, then I can only go look at other listings."

As she spoke, she made a move to get up and leave.

*Creak, creak, creak... *

Damn you, you have your day too!

If I didn't want to see you acting like a clown, I wouldn't have come!

Thank you, Mr. Director Director Director Director Director Director Guan, for letting me vent my anger!

Seeing this, Mr. Chen hurriedly stood up: "Ms. Lin, don't be in such a rush to leave! We can still discuss the price, let's discuss it more!"

The agent, Xiao Wang, also tried to persuade her: "Ms. Lin, a good house like this is hard to come by..."

Ms. Lin's mood was very indifferent, and she continued to leave.

Mr. Chen gritted his teeth and stomped his foot: "Fine! I'll drop another 500,000. This is truly my bottom line! Ms. Lin, what do you think of this price?"

He looked at Ms. Lin with eager eyes.

Ms. Lin turned around and let out a laugh: "Mr. Chen, your sincerity is still not enough. 5 million. If that works, we sign the contract; if not, forget it."

The owner, Mr. Chen, turned green in the face: "Ms. Lin, you're cutting the price way too hard!"

Ms. Lin shrugged: "Mr. Chen, if that's how you want to put it, then there's nothing I can do."

After saying that, she left directly.

Awesome!

Thanks again to Mr. Director Director Director Director Director Director Guan, hahaha~~~

The deal fell through.

Mr. Chen was on the verge of tears.

If only I hadn't raised the price, damn it!

The agent, Xiao Wang, complained about Mr. Chen internally: If he hadn't raised the price last time, it would have been a done deal. Now look, he can't sell it anymore!

Idiot!

On Ling Zu'er's side,

She had originally wanted to visit the South Horizons complex again this afternoon, but after seeing Director Director Director Director Director Director Guan Zu's news, she wasn't in a rush anymore.

It wasn't just her who wasn't in a rush;

Many citizens across Hong Kong who wanted to buy homes were no longer in a rush.

Mr. Director Director Director Director Director Director Guan's words carried great weight; since he said he would push forward with the housing plan, they naturally didn't need to worry about housing prices skyrocketing in the future.

Therefore, they were no longer in a rush!

But!

They weren't in a rush, but the property developers were!

Zhaoye Group.

Chairman's office.

As it was almost time to get off work in the afternoon, the secretary finally obtained the sales data for the day and reported it to Boss Li Ji.

"Boss, over at City One Shatin, after this afternoon, customers dropped by 80%, and there wasn't a single transaction. There were 13 transactions this morning..."

The hand Boss Li Ji used to hold his cup trembled.

In the end, he could only comfort himself internally: It's fine, maybe it's just a special situation. I'll continue to monitor the data tomorrow... perhaps there will be an improvement.

This complex had been selling since the year before last, selling building by building slowly. There were still 2 buildings left unsold, mainly due to Boss Li Ji's strategy: hoarding properties. He was full of confidence in future housing prices.

And just last month, he still felt his decision was very wise.

Now, he felt like he was stuck with them!

Secretary: "Boss, should we lower the price?"

Boss Li Ji thought for a moment and finally nodded: "Lower it... 5% off."

Secretary: "Understood."

He realized that Director Director Director Director Director Director Guan Zu was angry, so he had to make concessions no matter what; otherwise, if he were deliberately targeted and attacked by Director Director Director Director Director Director Guan Zu, he would really be in a difficult spot.

After thinking about it, Boss Li Ji added: "Call the Soros Fund and tell them that our Zhaoye Group is withdrawing from their real estate promotion plan."

That night,

ATV and TVB continued to broadcast. More citizens across Hong Kong learned about this, and thousands of households cursed the banks, newspapers, and real estate companies while looking forward to the plans Director Director Director Director Director Director Guan Zu was pushing.

Of course, support Mr. Director Director Director Director Director Director Guan's call!

Boycott newspapers like the South China Morning Post!

Boycott unscrupulous real estate developers!

Boycott unscrupulous banks!

The next day,

Without a doubt, all the newspapers today were focused on Director Director Director Director Director Director Guan Zu's press conference.

Buses, subways, offices, tea restaurants, shopping malls... people were discussing it everywhere.

Among them,

At a newspaper stand in Mong Kok, something happened.

An elderly man with graying hair was planning to buy a newspaper to pass the time. Just as he reached out to pick up the *South China Morning Post*, a young office worker nearby saw this and hurriedly said:

"Uncle, don't buy that *South China Morning Post*. It's an unscrupulous newspaper! They follow those property speculators and report blindly, misleading everyone. Not even a dog would buy it!"

The old man was stunned, and his hand stopped in mid-air.

People around nodded one after another, joining in the condemnation:

"They're just a bunch of bastards, aiding the evildoer. I'll never buy this newspaper again."

"And this *Asian Huaerjie Journal*, I won't buy it anymore either!"

Originally, although the *South China Morning Post* couldn't compare to the *Oriental Daily News*, it was still in the second tier and had quite a large readership among the citizens.

Now, unexpectedly disregarding the interests of the citizens and driving up housing prices, coupled with Director Director Director Director Director Director Guan Zu's criticism and call to action, the citizens naturally boycotted them one after another.

……

Leighton Road, Causeway Bay.

Inside the office building of the *South China Morning Post*,

Editor-in-chief Ji Ji Deli (an American) was sitting in his private office, drinking coffee and feeling troubled.

He was originally a reporter for the *Huaerjie Journal* in the United States and was hired last year to take over the position of editor-in-chief of the *South China Morning Post* here in Hong Kong.

Yesterday, the deputy editor-in-chief explained to him that Director Director Director Director Director Director Guan Zu's press conference yesterday would cause a huge crisis of public trust for the *South China Morning Post*, but he was skeptical.

However, he was not an arrogant person, and since the deputy editor-in-chief was so solemn, he naturally attached great importance to it.

So, this morning, he arranged for staff early on to call various newsstands for follow-ups, inquiring about the sales status of the newspaper.

Time kept passing……

9 o'clock……

10 o'clock……

At 10:24, knock, knock, knock~~~~ the office door was gently pushed open.

"Mr. Ji Ji Deli!"

"How is it? What is the feedback from the newsstands?"

The assistant said in a low voice: "Mr. Ji Ji Deli, according to our telephone follow-up statistics, we found that our newspaper has been subjected to a large-scale boycott."

"Many newsstand owners reported that many regular customers who usually buy the *South China Morning Post* now say they won't buy it anymore……"

Ji Ji Deli: "What about sales?"

The assistant lowered his head: "As of now, our sales are only 10% of the usual, and the daily sales are at most only 20% of the usual."

"What? Only 20%?!"

Ji Ji Deli felt everything go black before his eyes.

It was over now.

With such a sharp drop, the people above (media tycoon Murdoch) would definitely send someone to Hong Kong to investigate.

And why did he help the Soros team?

It was because he had taken money and followed the Soros team to speculate in stocks.

If this were discovered by the investigators, he might not only lose his job but even face imprisonment.

At this moment, Ji Ji Deli's body was swaying, and he couldn't help but lean on the table.

……

……

Even more distressing than the *South China Morning Post* was HSBC.

At 9:30 in the morning, the business hall of the HSBC headquarters and the business halls of various branches in Hong Kong welcomed a large number of citizens!

"Damn it! Give me back my money!"

A white-collar man slammed his passbook onto the counter, spit flying onto the glass,

"You bunch of bastards, colluding with real estate developers to drive up housing prices? Has your conscience been eaten by dogs? If you don't withdraw all the money today, I'll smash your counter!"

Curses rose and fell in the queue,

"Heartless bank! Vampires!"

"It's you bunch of scumbags who messed up the property market, making us unable to afford houses! From today on, I won't deposit my money with you anymore!"

The queue grew longer and longer,

And the curses became more and more frequent.

The crowd was agitated.

Upstairs,

Lawrence, the manager of HSBC's Cash Management Department, was looking at this chaotic scene downstairs through the glass wall with a grave expression.

Watching the queue continue to lengthen, his brows knit into a "chuan" shape.

A very familiar scene,

The last time it was like this was when the Five Star Bank was established; a large number of citizens ran over to withdraw money, almost triggering a bank run.

At this moment,

How similar it was!

A strong sense of unease surged in Lawrence's heart, worrying that a bank run would occur again.

He picked up the phone and dialed several calls to other branches in succession.

"I have a large number of citizens here coming to withdraw cash……"

"The queue is very long……"

"The citizens are very angry……"

The answers from each branch were almost identical.

Similar!

Too similar!

Lawrence increasingly felt that, just like last time, there was a high probability that a bank run would occur.

Soon,

He reported the news to his superiors.

The superiors attached great importance to it and hurriedly sent people to investigate the situation in the business hall. As a result, when they saw it, it was terrible; too many people had come to withdraw money.

A bank run…… it seemed it was really about to come!

They hurriedly reported it level by level, and finally, it reached the Chief Executive, Brandon.

Suddenly, the top management was terrified; the last time the Five Star Bank was established, the bank run had caused great harm to HSBC, resulting in heavy losses.

It was happening again this time!

Damn it, the money earned from harvesting real estate didn't even compare to this loss!

In Brandon's office,

Slap~~~~

Brandon took advantage of no one being around and slapped himself in the face.

Last time he was taught a lesson by Director Director Director Director Director Director Guan Zu, forcing him to hand over 100 million HKD to donate to the Five Star Charitable Foundation, why didn't he learn his lesson?

This time he went to provoke Director Director Director Director Director Director Guan Zu again.

Cry!

Motherfucker, he was going to lose money again!

……

Over the next few days, ATV and TVB reported continuously:

"After Director Director Director Director Director Director Guan Zu's press conference, major real estate developers have stated one after another that they had no malicious intent to drive up housing prices…… several real estate developers have lowered their selling prices one after another……"

"And in the real estate market, the once-hot buying craze has become a thing of the past. In the past few days, reporters have repeatedly staked out the sales offices of major primary housing developments, but they are deserted and no longer lively……"

"Many neighbors say they believe in Mr. Director Director Director Director Director Director Guan and believe that there will be more and more houses in the future, so they are not in a hurry."

"In addition, newspapers such as the *South China Morning Post* and the *Asian Huaerjie Journal* have been strongly boycotted by citizens in recent days. According to data from the 'Newspaper Association,' the sales of these two newspapers have fallen by 80% compared to last month……"

"Through television street interviews, many neighbors expressed that they would absolutely not forgive and would firmly boycott these heartless media outlets that drive up housing prices without regard for the citizens' survival interests……"

"It is worth mentioning that on the banking side, the two major banks, HSBC and Standard Chartered, which were named and criticized by Mr. Director Director Director Director Director Director Guan, have been subjected to a bank run by citizens in recent days…… Through interviews with citizens, many expressed great disappointment with the banks' participation in housing price speculation……"

"Some citizens even expressed that they feel more at ease depositing money in the Five Star Bank, and at the same time, they hope that the Five Star Group, which has always been thinking of the citizens, can become even stronger……"

"There is an old Chinese saying: The people are like water; they can carry a boat, but they can also overturn it."

"In this housing speculation incident, real estate developers, banks, and media have all angered the citizens, suffered a joint boycott from the citizens, and incurred significant losses."

"And the Five Star Group, through a series of measures, has won the hearts of the Hong Kong citizens, which is why it has been able to grow so rapidly……"

"I hope all enterprises in Hong Kong will take this as a warning. Since they are rooted in Hong Kong, they must coexist with the citizens and contribute to this land, rather than racking their brains to extract its nutrients."

"This is the path that enterprises should take!"

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PS: Chapter two will be a bit later. 10 o'clock?

(End of this chapter)