章節 366: Chapter 366: Banking-Securities Cooperation
Looking at Chen Hongxing and Song Weihua's expectant gazes, Xia Yu smiled slightly and nodded, saying, "Of course, this cooperation is a win-win situation! Why would I refuse?"
"Win-win?"
Hearing Xia Yu's unequivocal agreement, Chen Hongxing's face lit up with a smile, which grew brighter as he repeated the term "win-win" several times. Admiringly, he said to Xia Yu, "Mr. Xia, you truly deserve to be called a literary master. Your eloquence in describing 'win-win' truly captures the essence of cooperation!"
Song Weihua echoed the praise, saying, "Indeed, cooperation should be win-win for it to last. Mr. Xia, you have a profound understanding of business principles that even I, at my age, haven't fully grasped. I feel quite embarrassed!"
"You flatter me!"
Xia Yu smiled modestly, realizing that the concept of 'win-win cooperation' might not be widely known in this era, unlike in the later Internet age.
"Mr. Chen, Mr. Song, do you have any specific terms for the cooperation?"
Getting down to business, Xia Yu asked directly.
Chen Hongxing and Song Weihua exchanged glances, and Chen Hongxing nodded slightly in agreement. Song Weihua then said, "Mr. Xia, could your company consider setting up a few fund products specifically for our bank?"
After speaking, Song Weihua looked at him with keen eyes.
Xia Yu's smile faded slightly as he pondered, causing Chen Hongxing and Song Weihua to furrow their brows and glance at each other.
Xia Yu observed this with amusement.
In fact, he was merely putting on an act. This cooperation was highly beneficial for him, so why would he refuse? However, as they had entered the negotiation stage, every bit of his demeanor would affect their psychological expectations. To maximize his own benefits and lower their expectations, he had to play it cool.
After a long moment, Xia Yu sensed the right moment and, under the hopeful gazes of Chen Hongxing and Song Weihua, slowly nodded, saying, "No problem. This cooperation benefits both sides. Our company still has a lot of room for investment!"
"Thank you, Mr. Xia!"
Song Weihua's face beamed with a bright smile as he expressed his gratitude and then began discussing their planned approach.
"Mr. Xia, we have drafted a preliminary plan. Let me explain it to you, and if it doesn't suit, we can discuss it further on-site…"
Song Weihua elaborated on the initial plan they had prepared for Bank of Hong Kong, and Xia Yu and Wang Qi listened attentively, occasionally nodding in response.
This attitude made Song Weihua and Chen Hongxing more hopeful. Song Weihua became increasingly fluent as he spoke.
Although Chen Hongxing held a higher position as Chairman of Bank of Hong Kong, it was actually the Executive President, Song Weihua, who was responsible for detailed planning and execution.
Specialized roles ensured that professional matters were handled by experts, which contributed to the company's growth.
The cooperation intent from Bank of Hong Kong was reasonable. They understood Xia Yu's capabilities and knew they couldn't take advantage of him, so they chose to focus on a solid plan without trying to deceive him.
Bank of Hong Kong was a commercial bank, primarily involved in funds retail storage and investment management.
To fully utilize such large amounts of funds and generate profits, high-investment businesses were necessary.
Banking-securities cooperation (collaboration between banks and securities firms) could greatly enhance the bank's profitability, increase its attractiveness to depositors, and improve its competitiveness against other banks.
The mainland's financial sector had only recently emerged, and even in later years, many financial policies remained restrictive to protect against foreign financial industry impacts and potential exploitation by financial conglomerates.
However, while the mainland's financial sector was protected by domestic policies, Bank of Hong Kong, isolated in Hong Kong, faced intense competition from the start. To survive and thrive, it had to develop rapidly and outpace major banks.
Therefore, collaborating with a prominent securities firm like Jiuding Securities could significantly enhance Bank of Hong Kong's visibility and attractiveness.
There are various models for banking-securities cooperation, with the most common being:
1. **Simple Lending**: Securities firms borrow money from banks, paying fixed interest rates, or banks provide funding to securities firms to offer financial leverage, charging a fee for the use of funds.
2. **Entrusted Management**: Banks entrust a portion of their assets to securities firms for investment management, with the securities firms receiving a percentage of the management fee or a share of the total profits.
In addition to these common models, there are other cooperative methods.
For instance, **IPO Underwriting**: Securities firms facilitate connections, establish appropriate funding channels, and provide underwriting services to help banks finance listed companies, achieving fund interactions between banks and capital markets.
Cooperation with Jiuding Securities offered numerous benefits for Bank of Hong Kong, and vice versa.
Securities firms require substantial capital support for their operations. Despite Jiuding Securities' significant appeal, its capacity to develop into a global securities firm was still limited. Hence, they often sought bank loans for investment.
It was preferable for banks to entrust funds to securities firms for management, as it was more proactive and efficient compared to merely borrowing.
Moreover, not everyone is interested in stock trading. However, there's a saying that financial education should start early. Many places use the guise of teaching children financial literacy to host various financial training or securities promotion activities, aiming to introduce kids to the capital market early so that they become future investors, driving the market's growth.
Although Jiuding Securities and Bank of Hong Kong's collaboration wasn't for this purpose, the essence was similar—seeking more clients.
Bank of Hong Kong needed to use the cooperation with Jiuding Securities to attract more deposits and new depositors.
Similarly, Xia Yu was interested in Bank of Hong Kong's large depositor base.
Therefore, Xia Yu and Song Weihua entered into detailed negotiations, aiming for Bank of Hong Kong to provide securities brokerage services.
Jiuding Securities would entrust Bank of Hong Kong's branches with account opening services, leveraging Bank of Hong Kong's extensive branch network to attract more investors.
To ensure mutual benefits, Xia Yu also proposed developing a "Bank-Securities Integration System."
This "Bank-Securities Integration System" was a preliminary version, not as comprehensive as future systems, involving only basic telephone and early electronic trading systems.
Investors would use their savings account cards or passbooks from Bank of Hong Kong as securities margin accounts. Securities transactions could be conducted through the bank's delegated system (e.g., telephone banking, bank counter systems) or Jiuding Securities' delegated system (e.g., telephone orders, customer service centers).
To satisfy Bank of Hong Kong, Xia Yu agreed that the bank could directly settle funds with Jiuding Securities' investors, significantly lowering the cooperation threshold.
As a result, both Bank of Hong Kong and Jiuding Securities would enhance their competitiveness in their respective fields.
As time passed, the negotiations reached their conclusion. The cooperation framework became increasingly clear.
"Pleasure doing business with you!"
"Pleasure doing business with you!"
Finally, the four stood up, shook hands, and exchanged contented smiles.
"Mr. Xia, if convenient, we can sign the cooperation agreement tomorrow. How do you feel about that?"
Chen Hongxing asked with a smile.
"Absolutely fine!"
Xia Yu replied without hesitation.
"Great!"
...
Seeing that it was getting late, the four exchanged a few more pleasantries before suggesting that the meeting be adjourned.
"Boss, congratulations!"
After getting into the car, Wang Qi beamed with joy, congratulating Xia Yu. He was not only celebrating the acquisition of shares from Yihe Machinery Group but also the deepened cooperation with Bank of Hong Kong.
Both achievements were highly beneficial for Xia Yu.
He felt a sense of pride, as the strength of his boss and the capabilities of Jiuding Securities had attracted cooperation from a top Hong Kong bank like Bank of Hong Kong. How could he not feel proud?
"Haha!"
Xia Yu laughed heartily, feeling quite pleased.
Although Xia Yu had his own bank, and would later use Jiuding Securities' power to accelerate its growth, collaborating with Bank of Hong Kong now would consume some of that advantage.
But Xia Yu always thought in terms of the bigger picture, focusing on long-term gains rather than short-term losses.
The political impact and significance of this cooperation were far beyond monetary considerations.
Moreover, the cooperation was immensely beneficial for Jiuding Securities, providing a boost to its development and accelerating its accumulation of strength.
Furthermore, the Hong Kong banking market was vast. Bank of Hong Kong was destined to rise, especially after Hong Kong's return, becoming the second-largest commercial bank in Hong Kong, only after HSBC.
This was a foregone conclusion. Even if Xia Yu did not cooperate this time, Bank of Hong Kong would still rise with its mainland backing.
Since the rise of Bank of Hong Kong couldn't be stopped, it was better to cooperate and gain some benefits.
Additionally, the Hong Kong banking market was extensive. The rise or fall of Bank of Hong Kong would not directly impact the emerging Guang'an Bank. The competition was more about hard power than the presence or absence of a single bank.
This was a superficial analysis.
From a long-term and deeper perspective, the significance of the cooperation was even more profound.
Morgan had always been the king of Wall Street, and Wall Street was the center of global finance. When Wall Street shook, the global financial market could experience a financial tsunami, as seen in the 2008 financial crisis.
In Xia Yu's plan, building a financial empire was essential and must be a top priority.
To compete with giants like Morgan, Goldman Sachs, and Merrill Lynch and become one of the world's financial rulers, Xia Yu had to stabilize his Hong Kong base first
.
So, setting a small goal to become the king of investment banks in Hong Kong was the first step!
To achieve this goal, Jiuding Securities needed to collaborate with various banks to utilize their resources for accelerating its development.
Therefore, Jiuding Securities, for its growth, would inevitably need to cooperate with other banks beyond just Guang'an Bank.
This was already predetermined!
Jiuding Securities aimed to be a towering pillar, and Xia Yu's company could only be its support, ensuring its stability. To truly grow, Jiuding Securities had to forge its own path, stepping over its competitors to reach the pinnacle of the world.
No throne is won without a path of corpses and blood!
And now, Bank of Hong Kong had seized the opportunity to get ahead of other banks, taking the first bite of the crab and securing the maximum benefit!
As a representative of the mainland, giving Bank of Hong Kong a substantial share would only result in greater gains for Xia Yu!
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