The one-way permit, as the name suggests, is a document for one-way travel. In this era, it is essentially equivalent to a permit to immigrate to Hong Kong.
Before the establishment of New China, the Hong Kong government did not restrict residents from the mainland from moving to Hong Kong. People could generally travel freely between the two places, and the Hong Kong government did not register residents of Chinese nationality. After the founding of New China, the British Hong Kong government, in order to control the population of Hong Kong, began to implement border control, restricting residents from the mainland from entering and started to register Hong Kong residents and issue identity cards. However, at that time, the identity card was just a handwritten piece of paper.
After several waves of repatriation, from the 1960s onwards, Hong Kong began to issue identity cards. The policy at the time was that anyone who had been in Hong Kong for more than seven years and could support themselves could obtain permanent resident status. Those who had been in Hong Kong for less than seven years were issued green identity cards, and these new residents were called "green stampers."
Since these new residents could significantly alleviate the labor-intensive demands of Hong Kong's industries, and considering the British government's policy of implementing high land prices in Hong Kong to maximize profits, the British Hong Kong government implemented the "touch base" policy in 1974. The idea was that, like in a baseball game, if you could reach the next base in time, you could pass. This meant that mainlanders who arrived in Hong Kong after November 1974 and reached the urban area of Hong Kong (south of Boundary Street) could obtain Hong Kong resident status. Those who had arrived before this time, including refugees and post-war migrants, were granted the same status as Hong Kong residents.
After the 1980s, the issue of Hong Kong's return to China was on the table. In this context, the British Hong Kong government announced the cancellation of the "touch base" policy, stating that mainlanders who had entered Hong Kong illegally before October 23, 1980, could register and obtain Hong Kong identity cards within the following three days. Those who arrived in Hong Kong on or after that date would be immediately repatriated to the mainland.
From that era onwards, except for those who came to Hong Kong through normal channels, other illegal immigrants could no longer obtain Hong Kong resident status. This situation continued until the return of Hong Kong, when the immigration policy changed.
The one-way permit, also known as the Permit for Travelling to and Settling in Hong Kong and Macao, is a document issued by the relevant departments of the Ministry of Public Security to residents of mainland China for settling in Hong Kong or Macao. Having this document is equivalent to obtaining Hong Kong resident status. Throughout the 1980s, this document was highly sought after in the black market and was widely traded and sold. Many children of the elite made a fortune through the buying and selling of these documents.
Zhong Shi had also considered obtaining this document, but what troubled him was that he was just an unknown person in the mainland, despite his considerable wealth, which he dared not reveal. He was far from the level of dealing with those "princes."
Now, the opportunity had come to him, like a pillow being offered just as he was about to fall asleep. He would not let such a good opportunity slip away.
Moreover, an institution like Ai Hua She, with its highest-ranking official in Hong Kong equivalent to a ministerial level and under the jurisdiction of the Ministry of Foreign Affairs, had special channels. Others could not obtain this document, which was issued only 150 times a day, but they could easily get a large number of them.
"But..." Liao Chengde was clearly tempted by Zhong Shi's offer but still had some concerns about the trade smuggling.
"Old Liao, what are you worried about! A private trading company can only buy things like machinery, parts, and certain weapon consumables. These items are on the embargo list, but the state-owned heavy industries will not give up exporting them. Moreover, core secrets, such as high-precision machinery, aircraft design drawings, and other things, are beyond the reach of a trading company like yours."
"Both parties in these transactions will keep strict confidentiality. Otherwise, if anyone finds out, we might lose our source of goods, but they could face sanctions from the state and the United Nations."
Zhong Shi was right. Even in the future, when the United Nations frequently sanctioned a country that often "sent food into space," a yacht company still dared to sell a $50 million luxury yacht to that country's dictator. Of course, when it was discovered, the company and the broker were only fined a substantial amount of money.
"It's just a fine, what are you afraid of? Don't forget, you have the state behind you. Besides, there's me!"
Zhong Shi's words finally dispelled all of Liao Chengde's concerns. He bit his lip, slammed the desk, and said loudly, "Alright, it's settled! If I suffer any losses, Mr. Zhong, you must take full responsibility!"
"Let's not talk about that. There's a good opportunity to make money coming up, I wonder if you're interested!" After making a vague promise, Zhong Shi immediately offered a sweet deal.
He knew that in August, the Chicago Mercantile Exchange would launch Nikkei futures, and the Japanese market would definitely crash again. Although the Nikkei index had slowly risen over the past few months, successfully reclaiming the 30,000-point mark and continuing to rise, Zhong Shi knew that this was all an illusion. Soon, European and American financial groups would return and strike the Japanese market again.
"Oh?" Liao Chengde was both surprised and delighted. He had not expected such an opportunity to arise so quickly. Now he was very skeptical that if he had not agreed to Zhong Shi's terms, Zhong Shi would have revealed this opportunity.
"Don't worry, I don't mean to trade." Zhong Shi, being very astute, immediately saw through Liao Chengde's doubts. "Have you been wondering why I'm so determined to help you?"
Liao Chengde nodded. This question had also troubled him for a long time. Logically, the favor he had done for Zhong Shi in the past had been repaid, and the money he had earned following Zhong Shi in recent years far exceeded his lifetime savings.
"I am a person who values old relationships, and I also have my own selfish reasons." Zhong Shi tapped the desk, speaking with deep meaning. "Do you remember what I said a few years ago?"
"What did you say?" Liao Chengde scratched his head, not quite understanding. Zhong Shi had said many things over the years, and he didn't know which one Zhong Shi was referring to.
"About acquiring HSBC!"
This was a shocking statement!
Liao Chengde immediately stood up, his arms trembling slightly, as if he couldn't believe what he had heard.
At the time, Liao Chengde had taken Zhong Shi's words as a joke and soon forgot about them. Now that Zhong Shi brought it up again, he remembered.
HSBC was not a small commercial bank; it was one of the largest commercial banks in Hong Kong and a designated note-issuing bank by the Monetary Authority. Moreover, its parent company in Europe was a major group, a top-tier player in the European financial world.
Zhong Shi's intention was not to actually acquire HSBC. In fact, HSBC had considered this issue from the beginning of its listing. Its shareholders were widely distributed, and many acquisition restrictions were set to fundamentally prevent any single entity from dominating.
Furthermore, HSBC had very close financial ties with many major local conglomerates in Hong Kong. Many large groups' overseas business transactions were conducted through HSBC's global network, and the top few dozen Hong Kong billionaires had close ties with HSBC, with several of them serving on HSBC's board of directors.
In Hong Kong, there was a saying: "The one who controls Hong Kong is not the government, but the Jockey Club and HSBC." At one point, HSBC held more than half of Hong Kong's deposits. Just being associated with it meant having a steady stream of financial support.
The HSBC building, established in the 1980s, stood in the most prosperous area of Central, costing over 5 billion Hong Kong dollars, making it the most expensive building in the world at the time. Even twenty years later, its design was still advanced (the building could be disassembled and moved, and it had a unique document transmission system, which was truly impressive).
Acquiring such a bank with Zhong Shi's current wealth was like a dream. He would need his wealth to increase tenfold to even consider it.
"You're not really thinking of acquiring HSBC, are you?" Liao Chengde licked his dry lips, his eyes wide with disbelief.
"Of course not, how could I possibly acquire HSBC!" Zhong Shi waved his hand, somewhat amused. "My intention is not to acquire HSBC but to establish a conglomerate like HSBC, a giant conglomerate."
"But you already have so much money, isn't that enough?" Liao Chengde was even more stunned. He had never imagined that Zhong Shi had such ambition.
"Of course not, what's a little money? It's not even enough to fill Li Ka-shing's tooth gap." Zhong Shi laughed, not taking it seriously.
The Li Ka-shing he mentioned was the future richest Chinese person and a regular on the list of the world's top ten billionaires. At the time, he had not yet reached that height, but he was the most prominent Hong Kong Chinese billionaire in recent years and had already become the richest person in Hong Kong.
Compared to Li Ka-shing, Liao Chengde's wealth was negligible.
By mentioning him, Zhong Shi clearly indicated that his target was people like Li Ka-shing, and his tone hinted at an ambition to surpass them.
"What do you need me to do?"
Liao Chengde did not doubt the authenticity of Zhong Shi's words. Over the past few years, he had seen Zhong Shi build a vast fortune from nothing. He had no doubt that Zhong Shi's future achievements would be even greater, though he did not know to what extent.
"You and your family will be my important helpers and business partners. You will handle the industrial side, and the public relations will be managed by Liao Xiaohua and Zhong Yi. I will operate behind the scenes."
Now that he had a connection to the heavens, Zhong Shi had no more concerns and dared to boldly speak of his future plans. (To thank the readers for the recommendation votes exceeding 6,000, the author is working hard to update twice today and also thanks the reader Feng Xiong An Mo for the tip!)