Future chat group - Chapter 848 Another way

From the literal meaning of the word business, it means two or more people planning, discussing, and discussing together, which includes the meaning of interaction. Therefore, business activities can never be done by one person, and must start with communication.

After thinking about it for a moment, Lei Hao realized that CCB’s bottom line for this exchange and reserve project was to complete the forward contract at the spot price. There was no doubt that they would lose money, but they could afford it, and if Thunderbolt did not participate this time, there might be another loss. Next chance.

But if I don’t participate this time, what about next time? What about next time? If you haven’t participated in it a few times, the reserve project has nothing to do with you. The premise of financial marketization is the market. If you don’t participate, how can a market be formed? If this market cannot be formed, then why maintain it? Isn’t it enough to return to a situation where state-owned institutions solve problems by themselves?

Xia Yibei understands this fact, and Su Yiwen also knows that Xiang Yongze, Yu Rong and others understand the nature of the matter, so making money or not is not the primary factor for Thunder. Establishing cooperation methods and formulating plans for continued cooperation between the two parties status, but it is something that must be done.

I don’t care about profits, but I have to strive for profits, and that’s where things get weird.

It is now early December, and there are still nearly four months until the transaction date required by the Reserve Management Division. However, the sooner the contract is finalized, the more time the institution taking over the project will have to operate.

The absorption of 20 billion baht of Thai government bonds seems to be a position of several hundred million US dollars, but the structure of the Thai government bonds is there.

Chinese capital’s share of Thailand’s national debt has dropped from 14% more than a decade ago to close to 10% now. This is a figure that has only slowly increased since the pro-China military government of Barlow came to power. In this multi-billion-dollar country, In the market, many bonds are illiquid. It will definitely take some time for you to absorb nearly US$600 million in chips.

Lei Haoming ostensibly left the matter to Xia Yibei, but in fact, Xia Yibei was reporting the latest progress every moment, and he never let it go, and would reveal his attitude when appropriate.

In Shanghai, CCB also came with a complete working group. As a bank established to strengthen national infrastructure funds, CCB has always had a say in the corresponding fields.

Just like this project of the Reserve Management Department, China Construction Bank is the most suitable entity for the four major banks to take over, because it involves a lot of fund management for Thailand’s infrastructure. It defeated ICBC, the Universe Bank, and obtained the corresponding rights.

It just happened to be a financial marketization…

“In another way, leave the discount bond market to them. They will either have low prices or low shares. They can only accept our guidance.” Shanghai Stock Exchange, CCB, and Huizhu Business Department directly occupied an office of the Shanghai Stock Exchange Branch, using Come to negotiate with Thunder. As the head of the department, Zhao Weihua’s tone was sonorous and powerful.

Commercial banks have many departments, some of which outsiders have never thought of. For example, the Agricultural Bank of China has a Sannong Business Department, ICBC has a ******** business department, and China Construction Bank has an insufficient foreign exchange and savings business department. Surprisingly, there is no leader in charge of Zhao Weihua. He is directly responsible to the president because it involves politics.

People in state-owned financial institutions are always tempted by the high salaries and high returns of private financial institutions. Even those who can stick to their bottom line will inevitably have a jealous and hateful attitude towards the income gap, when the target is Lei Ting. At this time, this emotion became even more explosive.

Why? We manage one of the world’s top 500 commercial banks, and we have contributed to the country’s financial stability, and then… our boss’s salary income is only about one-twentieth of that of the top leaders of financial institutions of the same level.

This is simply outrageous. Chinese state-owned financial institutions are struggling in this regard, but they have great power. This is also one of the reasons why they discriminate against private financial institutions.

Zhao Weihua does not discriminate against Lei Hao. If it were in the normal securities market, after meeting Lei Hao, he would not mind lowering his head and shouting “Mr. Lei please help me”. In this kind of project involving the adjustment of the reserve structure, it would be different. .

CCB has rich experience and is “strong”, yet they still cheated by standing in front of the starting line. In the end, even the referees turned against them. It is strange that they are not bullish.

“Discount bonds?” Lei Hao got the latest feedback and slowly sorted out all the communication information today. He also knew that the other party’s bottom line had been made clear.

“How much of the Thai national debt is issued at a discount?” Lei Hao frowned. He was not too impressed by these things.

The reason is also very simple, the ratio is too low.

Discount bonds are bonds issued at a discount. For example, I issue a one-year bond with a face value of 100 yuan, but I only charge 95 yuan when I sell it to you. After maturity, I will give you 100 yuan, and the 5 yuan difference is the interest. .

This type of bond is not uncommon in areas with higher risks such as corporate bonds. Even high interest rates are in this form. How many bonds are guaranteed by a country’s sovereignty? How many bonds are of this type?

“Less than 5 billion… baht.” Xia Yibei said the numbers and units with difficulty, and added: “Some of them will expire within three months, and some of them will expire next year. And Thailand seems to have no intention of continuing to issue such bonds.”

“In other words, CCB is trying to coax us with a candy.” Lei Hao shook his head and said with a smile: “These bastards.”

“But we participated.” Xia Yibei paid more attention to this point: “If we participate, everything will be easier.”

“I would rather accept the method of selling forward bonds at the spot price than just take the candy and leave.” Lei Hao looked at Xia Yibei and said, “Let’s negotiate in another way. Let’s give them some profit. , determined by options contracts, American options!”

After hearing Lei Hao’s words, Xia Yibei’s heart suddenly moved. He raised his head and saw Lei Hao’s bright eyes, and a smile immediately appeared on his face.

The advantages of state-owned financial institutions are there, but Thunder is not without its own advantages. Lei Hao’s strength lies in his grasp of the market.

If all the terms are dead, such as how much to buy and how much to sell, then no matter how talented Lei Hao is, he can’t make a difference. What if risk clauses are added?

Options are risk provisions.

Point refers to the minimum price change once. According to the market rules of Thai government bonds, one point is 0.2 baht. If there are ten, it is 2 baht. When converted into US dollars, it is about 0.005 points. Of course, it is not as good as Zhao Weihua’s previous requirement. But there are options.

You can buy it at any time. This option certainly cannot give a definite price, but it is always calculated equally according to the market price, and the market is changing. When the outlook improves and the volume shrinks, you can get it at any time. Opportunities for large stacks.

As long as you watch the timing correctly and after executing the option, first buy, then sell, and then buy, profits will appear.

The best thing is that Lei Hao doesn’t think the other party will refuse, because the state-owned financial institutions are very powerful, but… if someone like Zhao Weihua gives him a chance to show himself, how will he choose?

It is an overall victory for CCB to settle this matter with rigid terms. However, if you sign some flexible terms and then turn the tide yourself, the person handling the matter will get the result.

From an organizational point of view, Lei Hao’s suggestion will not be agreed to, but it is always people who do the work, and there is an opportunity here.

“Mr. Lei, someone from CCB wants to meet with you.” Xia Yibei ran over.

Lei Hao also knew very well that this was a show.