In Hong Kong, suicides are common. Unlike general news, news in the financial world is comparable to celebrity gossip. Only one night later, various newspapers, magazines, and TV news have reported in-depth reports on this matter.

This incident did not put too much pressure on Chen Qiaoshan, but he did feel the cruelty of the capital market. In addition, there was also the opportunity to speculate again.

The plunge in futures copper caught many people off guard, but Chen Qiaoshan was surprised, unexpectedly remembered an old news.

Since the beginning of the new millennium, thanks to the huge market growth, whether it is crude oil, iron ore, precious metals or agricultural products, as long as China has demand, the prices of the international market will rise rapidly. Due to the incomplete financial environment, China lacks the right to bargain in the international futures market and has been repeatedly besieged by national speculators.

After the huge losses in 2004, the National Reserve Futures Copper Incident followed in 2005.

If Chen Qiaoshan remembers correctly, the beginning of the incident was the Lme copper plunge.

The National Reserve Bureau is a subordinate department of the Development and Reform Commission, specializing in national strategic material reserves.

China is the largest consumer of copper and its import volume ranks first in the world. The National Reserve is responsible for the import and reserve of copper. At the same time, its subordinate adjustment center is responsible for hedging in the futures market.

In the past few years, copper prices have been rising continuously.

The NRC has been longing Lme copper on the London Metal Exchange and keeping profitable.

However, in October 2004, major investment banks and financial research institutes suddenly made a prediction that metal copper faced overcapacity in 2005, which directly led to a 10% drop in Lme copper in a single day.

According to regulations, state-owned institutions that obtain overseas futures trading licenses are not allowed to conduct futures speculation except hedging.

Perhaps it was to recover the losses of rat positions, or perhaps it was simply for speculation, the traders of the National Reserve Bureau exceeded their authority at this time and sold a large number of call options in the institutional option combination.

Unfortunately, things went against our expectations. The prediction of overcapacity is purely false, and there will still be huge gaps in the market next year.

In 2005, international copper prices soared against the market, and the price rose from US$3,000 per ton in 2004 to US$4,150, setting a record high in nearly a century, with an annual increase of nearly 40%.

The result is conceivable. The National Reserve Bureau has continuously held heavy short positions and suffered heavy losses in the end, and the amount will definitely exceed the huge losses of China AVIC.

Chen Qiaoshan was very helpless. He had too many prodigal sons, so he could only reluctantly make more money.

Just like buying AVIC calls, he has no psychological burden.

Although there is a suspicion of being good at being cheap, it is obvious that money is better to be earned by Chen Qiaoshan than to be in the hands of overseas speculators.

…………

Now that the United States has entered winter time, there is a 13-hour time difference between New York and Hong Kong. The market on the 29th did not come out until the 30th. After the continuous decline, the market finally ushered in its first slight correction, with WTI crude oil closing at US$51.02.

In the face of subsequent market fluctuations, it depends on the experience and ability of Cecil and Lu Zhaolin. Chen Qiaoshan did not intervene too much. He just made it clear that the general trend is still downward, and the rest depends on their operations.

In order to avoid flight delays, Chen Qiaoshan booked a morning ticket and arrived in Yanjing on time before 11 o'clock.

As soon as he got off the plane, Chen Qiaoshan felt a chill.

In October, the average temperature in Hong Kong remained at around 28 degrees, but Yanjing has entered late autumn.

Seeing that people on the same plane were wearing coats, Chen Qiaoshan could only secretly complain about a mistake. It seemed that it was necessary to find a full-time assistant.

As soon as she left the port passage, she saw Yan Xiaoqin standing outside the railing looking forward. When she saw Chen Qiaoshan coming out, she quickly waved her hand, with a happier look on her face.

There were a lot of people in the pick-up hall. Chen Qiaoshan greeted her, went to the conveyor belt to pick up her luggage, and then walked out.

"Didn't you tell you yesterday that Yanjing has cooled down? Why did you come back after wearing a T-shirt?" Yan Xiaoqin was helpless. She had clearly reminded her, but Chen Qiaoshan obviously didn't take it to heart.

"I was in a hurry to catch the plane this morning and forgot to get my coat." Chen Qiaoshan found a very bad reason, and then hugged Yan Xiaoqin in his arms regardless of the situation. The two had been a month apart, and they were quite worried.

Yan Xiaoqin wore a suit-style cardigan jacket, black trousers and a pair of burgundy short boots, probably because she had light makeup on her face. Her eyebrows and eyes looked a little more delicate than usual, and her hair was shawl. Against the backdrop of her professional outfit, she was tall and well-proportioned, and she looked like a beauty in the workplace.

After a long time, they were all men and women who had just had a love story. Yan Xiaoqin did not shy away from showing some intimacy. She leaned against Chen Qiaoshan's arms, rubbed her side face against his shoulder, and said softly in a voice that only two people could hear: "Do you know how to come back?"

She whispered softly, with a sense of anger, but the affection in it was undoubtedly revealed.

Chen Qiaoshan smiled and said, "What, do you miss me?"

"It's not there." Yan Xiaoqin refused to admit it, but her charming face still betrayed her true feelings.

Chen Qiaoshan smiled, "When did you come? Have you been waiting at the airport for a long time?"

"It's okay to be alone at home, I came here at around 8 o'clock."

After a while of tiredness, Yan Xiaoqin took Chen Qiaoshan's arm and left the pick-up hall together.

The weather today is a bit gloomy, probably only about ten degrees. Chen Qiaoshan stayed in Hong Kong Island for a few weeks, but when he suddenly came back, he was really uncomfortable.

After getting in the car, Yan Xiaoqin started the car and said, "Sun Guangming knew that you were back today. He wanted to invite you to dinner at noon. Should we go home first or go directly to the hotel?"

Chen Qiaoshan said: "This guy really has no vision. We are better than the newlyweds. We have no intention of having dinner with him. Go home first and stay wherever he is cool."

Yan Xiaoqin gave him shyly and angrily, and spat: "It's broad daylight, you can't be serious."

Chen Qiaoshan chuckled twice. Knowing that she was tender, she did not mention this anymore and was about to start the airport expressway soon. He didn't want to cause any trouble, so it would be better to be more restrained. He asked, "Why did Fatty Sun think of treating me to dinner?"

Yan Xiaoqin smiled and said, "Hasn Sun Guangming been building an IT community recently? I heard from Wang Lin that he has become a typical entrepreneurial model of Renmin University. He has also been interviewed by the school TV station. Now he is very famous in their school. He is anxious to find you, so it must be for the website."

Last time he was targeted by Donews, Chen Qiaoshan was ready to sing and stage dramas. He was not going to do it himself, so he instigated Sun Guangming to come forward. The two hit it off. He was preparing before he went to Hong Kong, and now he should have a good idea.

Fatty Sun looked contemptuous, "I said Dashan, you have really changed. The ugly face of the capitalist is fully portrayed by you. I am a little embarrassed to be with you."
Chapter completed!