The Year 1979 in My Life

Summary

Huang Bing Xin detailed the evolution of Hong Kong's banking sector, emphasizing its transformations since the 1950s. He noted the influx of foreign banks post-1978 and the subsequent establishment of Hong Kong as a financial hub. However, fierce competition led to the decline of many banks, particularly Chinese-owned ones. Huang urged Li He to consider acquiring Kangning Bank, which was struggling due to bad debts and a recent government takeover. Despite initial hesitations, Li He was tempted by the opportunity and instructed for a feasibility report. Shen Dao Ru expressed confidence in the acquisition potential, highlighting its significance for both men.

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