Qloppi Mi-Yu Social Technology
2018 October 20
Qloppi in talks to buy equity in the People's Bank of China
Bilionaire Philanthropist and Realestate playboy steven hung is currently in talks with the People's Republic of China to buy equity in the People's Bank of China for 350 Billion Yuan (50.5 Billion USD) due to market instability caused by the current P2P lending crisis. Hoping to shore up the local market with mass restructuring , hung continues to turn coal into diamonds with this market stunner.
This deal will have wider implications in the yuan's valuation and subsequently, global trade, due to Mr. Hung's relationship with International Monetary Fund Chief economist Maurice Obstfeld. China's yuan currency CNY=CFXS has faced strong selling pressure this year, losing over 8 percent between March and August at the height of market worries, though it has since pared losses as authorities stepped up support. With this new equity holding however, Steven Hung will be able to bring his economic expertise to the PRC and help stabalize the yuan’s official mid-point for trading at 7.34 per dollar, surpassing the psychologically important barrier of 7.0.
To finance this deal, he will be liquidating his his 54% holding in the Burj Khalifa and 80% stake in the Ahmed Abdul Rahim Al Attar Tower. Hung plans on reallocating the capital to Qatar and use whatever that remains liquid to pay dividends to stock holders.
About People's Bank of China
The People's Bank of China is the central bank of the People's Republic of China responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by Bank Law.
About Stephen Hung
About Mr. Stephen Hung
Stephen Hung is a flamboyant Hong Kong property investor and former investment banker.
He is the Joint Chairman of Hong Kong-listed The 13 Holdings Limited. In addition, he is the chairman of The Taipan Investment Group and the vice-chairman of Rio Entertainment Group, which operates the Rio Hotel & Casino in Macau.
Contact and Referral:
Qloppi, Mi-Yu Legal Business
Orient Trading Tower
Ãƒ andar, Macau
The Royal Norwegian Consulate in Dubai
c/o Qloppi, Mi-Yu Millenium Youth Service Initiative
P.O Box 8612
Dubai, United Arab Emirates