In 1989, a major event occurred in China, causing a significant impact on various sectors in Hong Kong and accelerating the exodus of companies from the city.
Not only were the well-known large companies affected, but even ordinary citizens had a pessimistic outlook on Hong Kong's future, leading to another wave of emigration.
Countries like Canada, Australia, Singapore, and the UK introduced immigration policies to attract Hong Kong talent, which in turn influenced the emigration trend in Hong Kong.
As people were leaving, they naturally stopped holding onto their properties, leading to a large number of property sales. These eager emigrants made significant price concessions, just to get a quick cash payout, causing a sharp decline in Hong Kong's property prices.
This was the perfect time to buy at the bottom!
Compared to the jaw-dropping prices of tens of thousands or even hundreds of thousands per square foot in future Hong Kong, the current prices were like a bargain, even cheaper than cabbage!
Liao Chengde saw the business opportunity and encouraged Zhong Yi to call Zhong Shi. On one hand, he wanted to consult Zhong Shi's opinion, and on the other, he sought financial assistance.
When the Hong Kong stock market fell, Liao Chengde followed Zhong Shi's advice and heavily shorted the Hang Seng Index, making a substantial profit. Unlike the younger generation, this elderly man had a particular fondness for real estate, which indeed turned out to be the most profitable investment in Hong Kong over the next few decades.
Liao Chengde invested the money he earned from the stock market crash into Hong Kong's real estate market. As the economy recovered, he gradually sold off his properties, and by 1989, he had almost finished. When he calculated his profits, he found he had made over 100 million, which was much easier than making money in the stock market. Liao Chengde's focus was now entirely on real estate, and he paid little attention to other industries.
In 1987, Zhong Yi also invested a large sum of cash in several buildings, which Liao Chengde managed. A rough estimate showed that they had made a profit of two to three hundred million, which was now sitting in the Standard Chartered Bank. After discussing with Liao Chengde, Zhong Yi, and Liao Xiaohua, they felt it was time to re-enter the property market and called Zhong Shi for approval.
Zhong Shi listened to their conversation for a long time, finally understanding their intention—they were eyeing the 100 million Hong Kong dollars in the HSBC account. This was his liquid capital, reserved for emergencies, but he could consider using it. However, he felt it was best to handle the property acquisition personally.
What Zhong Shi didn't know was that Hong Kong's property prices were plummeting at an elevator-like speed. While small and medium-sized residential properties were generally undervalued, they would recover to their previous levels within half a year. In the early 1990s, the real estate market would become unprecedentedly active, with this upward trend lasting until 1994.
Looking at the trend of Hong Kong's real estate market, it was generally on a rapid upward trajectory, influenced by the small land area of the islands and the continuous influx of people. After the reform and opening up, Hong Kong's manufacturing industry gradually shifted to mainland China, while the city focused on developing tourism and finance, leading to a significant influx of capital into the real estate sector.
Given the current impact of events in mainland China, it was indeed a great time to buy at the bottom.
"This is true!" Zhong Shi said to the stern-faced armed police officer, his face filled with helplessness.
This was the checkpoint, and just beyond it was Hong Kong. The distance between the two places was only a fence, but Zhong Shi had already waited for nearly an hour.
The checkpoint was densely packed with armed police officers. The one in front of Zhong Shi had a black AK47 slung across his chest. Zhong Shi had no doubt that if he made any irregular moves, the officer would shoot him.
It was a very tense time, and not only were people going to Hong Kong being scrutinized, but even mail from Hong Kong to the mainland was being thoroughly searched.
The stern-faced police officer stared at the passport for a long time but couldn't understand the English letters. In fact, he might not even recognize many Chinese characters.
In China, joining the military was not a good choice. There was a saying, "A good man does not join the army." While this was somewhat exaggerated, it was still a valid point.
Under this trend, the quality of the recruits was questionable. Not understanding English was common, and some were even illiterate. However, in the military, these were minor issues as long as they could shoot and hit the target.
The diligent police officer led Zhong Shi to a small, simple room with only two old chairs and a new desk. The new desk seemed out of place in the dilapidated room.
After settling Zhong Shi in the room, the police officer left, locking the door with a loud bang. Zhong Shi sighed in frustration, looked around, and waited for another half an hour without anyone coming. He then fell asleep on the desk.
After an unknown amount of time, Zhong Shi's stomach growled, and he was hungry. Waking up from hunger, he shouted to the police officer on guard outside, "Hey, comrade, can you bring me some food?"
The police officer, who was smoking, looked at Zhong Shi warily, confirmed he was not making any suspicious moves, and then turned away, ignoring Zhong Shi's request.
Seeing his reaction, Zhong Shi knew that shouting would be futile. He sat back in the chair, feeling a deep sense of despair, thinking, "Am I going to starve to death here?"
It wasn't until late at night that a leader, accompanied by someone holding bread and milk, arrived. The leader was around forty, wearing a green military uniform, with a face full of wrinkles, a high nose, and a dark complexion. His eyes were bloodshot.
"Tell me, how did you get this passport, and who is backing you?" The leader slammed the passport on the table and said coldly.
"This is my own passport, and no one is backing me!" Zhong Shi, who was wolfing down the bread, was taken aback. A large piece of bread got stuck in his throat, making him very uncomfortable. "What? Do they think I'm a fugitive?" he thought.
"Tell me about your background, why you're going to Hong Kong, and who is in your family!" Seeing that his initial intimidation didn't work, the leader changed his tone and spoke in a more conciliatory manner.
Zhong Shi disliked the condescending attitude but had no choice. He had to lower his head and recounted the key points of his life.
When the leader heard that Zhong Shi was only thirteen, his expression softened. After Zhong Shi finished, the leader stared at him for a long time, trying to find any signs of deceit, but he only saw honesty and calmness.
After another half an hour, the leader said, "We will verify your story. We hope you will cooperate with us!" He then stood up to leave.
"Wait, how long do I have to stay here?" Zhong Shi asked urgently.
"Under the best circumstances, you can leave tomorrow!" The leader paused, his cold voice sending shivers down Zhong Shi's spine.
"Can someone bring me some food? I don't want to starve to death here." Zhong Shi added, feeling genuinely afraid of the neglect.
The leader grunted and left, leaving Zhong Shi unsure if he had agreed.
To Zhong Shi's relief, after being detained for two days without reason, he finally got his passport back and crossed the border under the watchful eyes of the police officers.
As soon as he passed the checkpoint, he saw Lu Hu leaning against a Mercedes, smoking. The ground was littered with cigarette butts, indicating he had been waiting for a long time.
"Mr. Zhong, you made it!" Lu Hu, who had been watching the checkpoint, immediately noticed Zhong Shi.
"..." At that moment, Zhong Shi wanted to cry. Seeing the concerned look in Lu Hu's eyes, he held back his tears and forced a smile, which looked more like a grimace.
"It's good to see you out!" Lu Hu quickly threw away his cigarette and walked over to Zhong Shi, examining him carefully before gently helping him into the car. He could tell that Zhong Shi was in a weak state.
What Zhong Shi didn't know was that calls had been made to his home, as well as to Zhong Yi's and Liao Chengde's homes in Hong Kong. With the repeated assurances of the well-known Hong Kong businessman Liao Chengde, Zhong Shi was able to pass through the checkpoint quickly.
Liao Chengde and Zhong Yi were resting at a nearby hotel, having also waited for two days. They were exhausted and had found a place to rest. With the advent of mobile phones, communication was much easier.
After a hot shower, Zhong Shi lay in bed, his mind filled with thoughts of moving to Hong Kong. After experiencing these bizarre events, the idea was more intense than ever.
However, he was frustrated because his parents and others back home were unwilling to leave, and he himself was not yet of legal age, so he had to wait a few more years.
Although this encounter was strange, it was a very tense time, and stricter measures were understandable. It was similar to the heightened security at airports after 9/11.
After resting for two days, the Zhong brothers and the Liao father and son got into an unremarkable minibus and began looking for properties. (Special thanks to the generous donation from the reader "Guimi"! Thank you for your support!)