Chapter 1216: The rise of the Bank of Korea

After Shangwen announced that it would be after financial reforms. Financial terms related to Qin State began to be introduced one after another.

"Qin State will establish a banking union across the country. The Banking Union will be responsible for injecting funds into Qin's currency assets. Unified management of gold reserves, and at the same time, establishing a deposit reserve ratio set by the Banking Union." said the financial clause.

"For Qin Guo's current merger activities between banks. As well as bank failures. Qin Guo will introduce a corporate merger law and corporate bankruptcy clauses. It strongly encourages bank mergers instead of filing for bankruptcy." These actions of Qin Guo are telling people. Qin Guo is encouraging large-scale mergers between banks.

The merger between banks will make Qin’s banks an unstoppable monopoly organization, in fact. The Banking Union has become a monopoly organization of Qin State Bank in disguise. It's just that now everyone hasn't felt the Tao. Even when Shang Wen promoted this force, he didn't expect it. This plan of my own is when Qin's financial strength is improved. It will promote the development of Qin's monopoly organizations.

monopoly. First of all, financial development in Qin State. The monopoly of finance, especially the banking industry, will play a decisive factor in Qin's development.

"We are currently trying to solve the current problems in the banking industry." Shang Wen said at his cabinet meeting.

"The current banking industry has a problem." Shang Wen said with his own report.

"First, it is the bank's failure. Some small and medium-sized banks went bankrupt due to business problems. The business of these failed banks is related to a lot of Qin's salary. Their failure has a great impact on the development of Qin's banking industry. We do not agree with the bankruptcy of these companies. Therefore, we have to acquire them in a national way, and then sell them to the big banks. Let the big banks merge with them." Shang Wen said at this time.

"En." The cabinet members recorded these nervously. They believe that the Prime Minister's plan is feasible. At present, many such small banks fail in Qin State. The failure of these banks resulted in heavy savings for the people of Qin. Shangwen fully considered this, so these banks must be rescued. The purpose of salvation is to allow these businesses to continue to exist. And they want to transfer this kind of business to another bank. Then continue to develop.

"Another problem is those banks that are on the verge of bankruptcy, the capital chain is broken, and there are still banks." Shang Wen said at this time.

"We encourage big banks to merge with them, or form a new banking organization between them, unite them, and expand their assets. Let them have a brand new development." Shang Wen said at this time.

"If you encourage them to be merged?" At this time, a cabinet member asked.

"Bank union. In the banking union, the government has a lot of say, and we want to encourage them to merge. If they merge, we will give them some tax concessions." Shang Wen said.

"In addition to these, we have to buy the shares and bonds of these banks, and inject capital in this way. At the same time, we hold a controlling stake and then resell those big banks." Shang Wen said.

"In other words, our government is now also a businessman." A cabinet member raised his hand and asked.

"Yes. That's what I mean. If it doesn't, then our Qin State will get worse and worse." Shang Wen said at this time.

"There is also the prime minister." At this time, a cabinet member's staff raised their hands and said.

"What's the matter?" Shang Wen asked.

"Our bank's foreign business has suffered a lot. What should we do?" At this time, an official said.

"Well, you are right. Our current foreign banks have mobilized funds that we shouldn't use due to capital problems. However, the problem has already occurred. At this time, we can't treat it with the past market conditions." Shang Wen said at this time.

"We want to save our business abroad." Shang Wen said at this time.

"Qin Guo's bank penetration ability has suffered a great loss. We don't know how strong this loss is. However, we must do everything possible to save it." Shang Wen said at this time.

"We'd better start the action as soon as possible." Shang Wen immediately ordered.

"We still entrust Meng Yi to manage this matter." Shang Wen said at this time.

"Deputy Prime Minister Meng Yi." Shang Wen said by name at this time.

"Yes, Prime Minister." Meng Yi said at this time.

"I believe you can handle this matter well." Shang Wen said to Meng Yi with a smile at this time.

Meng Yi nodded with a smile. He understood Shangwen's smile as a kind of full trust.

"En." Shang Wen nodded.

Just when Shangwen set out to solve the bank's problem. Especially when it comes to banking and financial services abroad. And Qin has a brand new opponent abroad. This opponent is South Korea. South Korea's movements are very fast.

They have reached out to an investment country in Qin State. This country is Zhao Guo.

"Mr. Prime Minister, we will provide a considerable sum of money to help your country's current financial problems." A representative of the Bank of Korea said to Guo Kai with a smile at this time.

This bank representative is in business negotiations on behalf of the Korean Royal Bank. They are very clear that the current banking business, especially Qin Guo's banking business, they temporarily withdrew from most of Zhao State's market, and Qin State Bank's unreasonable transfer of funds has caused extreme tension in Zhao State's domestic funds.

Many Zhao Guo projects are under construction, although they are still in progress. However, the nobles in the Zhao country are very aware that it will not take long before their funds will be broken. With this in mind, these nobles began to huddle into groups and intensively walked into and out of Qin's bank, but they couldn't borrow money at all. But these were seen by the South Korean ambassador. So he quickly took a telegram to the country. As a result, the Royal Bank of Korea, which had just been established in South Korea, quickly dispatched a carriage of banking representatives. They quickly went north to reach the country of Zhao. Their arrival immediately set off a huge wave of loans in Zhao Guo.

"We are already very grateful for you to come to Zhao Country." Guo Kai said excitedly at this time.

"How much money can you lend us?" Guo Kai asked anxiously at this time.

"Two hundred thousand gold." The business representative said.

"Oh." Guo Kai said with a frown at this time.

"Our 200,000 gold is a gold coin. It can be converted into half of gold. It is real gold." At this time. The business representative said.

At this time, Guo Kai frowned and grinned quickly. Although this amount of money does not seem to be much, it is quite large when converted into banknotes. Moreover, the price of paper money has been falling, that is to say, gold coins can be exchanged for more and more paper money. This of course made Guo laugh.

"Hahaha. This is great. Great." Guo Kai almost took the business representative to kiss him at this time.

The Royal Bank of South Korea cannot print their banknotes, and once their banknotes are printed, they may not be able to immediately become an international currency like Qin State. Because behind the paper money is the strength of Qin State. And South Korea's current strength is still very weak.

So, take this into consideration. The queen believes that South Korea cannot issue its own banknotes, and it takes into account the level of printing technology in its own country. Korea can only print and dye some cloth, some newspapers, books and other things, and even bond printing is not possible. Because these valuable bonds will soon be imitated by others when they are printed, in order to prevent such a phenomenon from happening. Take this into consideration.

Han Shu ordered people to mint Korea's own gold coins. At the same time, in order to make up for the shortage of gold and silver coins, she also ordered silver coins to be minted. The use of coins is to make up for the defect that South Korea cannot produce banknotes, but to a certain extent it makes up for the defect that South Korea's banknotes cannot be issued.

Most importantly, the coins issued by Han Shu are hard currency and have a high degree of credit. Therefore, the Bank of Korea suddenly opened up the banking business that Qin had already partially withdrawn, and, relying on these hard currencies, slowly squeezed out Qin's banking business.

quickly. With the help of South Korean hard currency, the loan crisis of Zhao Guo, triggered by the financial crisis of Qin State, gradually improved. Zhao's economy began to burst out with new vitality again.

Korean banks have developed under this excellent historical opportunity.

The Bank of Korea has not only developed abroad. domestic. South Korea has also undergone a series of developments.

The first is the South Korean Royal Bank and a new noble bank formed by a series of ministers who have invested in the Royal Bank. Some private banks have also been formed. They have provided loan funding support for domestic enterprises. Thus. South Korea also gradually got rid of the capital control of Qin's bank.

Not only that. Some banks in South Korea began to take the initiative to attack. They started business with Qin Guo's bank. Sharing wealth together, then, some banks tried to acquire some Qin State Investment Bank, which was facing a shortage of funds, although it failed. After all, Qin State Bank still has a certain degree of strength, but this is after all an attempt by the Bank of Korea, and at the same time, it is also telling Qin State Bank. The Bank of Korea is on the rise.

In this way, the rise of Korean banks will greatly provide the necessary financial support for their homeland, which has the necessary conditions for the next development of South Korea. However, South Korea has also developed another strategic goal. Their goal is Chu State. They will provide the necessary financial support to the nobles of the Chu Kingdom. What they produce is gold coins, not paper money, which has a great advantage over paper money.