On this day, 27 years ago, August 14, 1998 (June 23, 1998, the Hong Kong SAR government entered the market to confront international speculators. From August 14 to 28, 1998, the Hong Kong government used a total of HK$118 billion in the Exchange Fund, dealing a fatal blow to international speculators. August 14, 1998, Donald Tsang: Responsible for the "Gambling of the Century" 2T Picture: Donald Tsang (second from left in the front row) attended an event held by the Hong Kong Government Picture: From August 14 to 28, 1998, the Hong Kong government used a total of HK$118 billion in Exchange Fund, dealing a fatal blow to international speculators. In August 1998, an unprecedented "gamble of the century" was launched in Hong Kong. On one side are international financial speculators led by "financial tycoon" Soros, and on the other side is the Hong Kong Special Administrative Region government represented by Financial Secretary Donald Tsang. During that time, the pressure faced by Donald Tsang, the always cold, majestic and aggressive Financial Secretary of Hong Kong, was beyond ordinary people's imagination. On August 13, the Hong Kong SAR government decided to "go to war" against international financial speculators, and it was Donald Tsang who made the decision. Donald Tsang later told reporters: "I informed the Chief Executive of this idea in early August, and I finally made the decision because the law stipulates that I am responsible, and in fact, this is the case." It is no easy task for Donald Tsang to make this determination, because the SAR government's entry into the market may arouse people's doubts about the consistency of Hong Kong's financial and economic policies; and if it fails, tens of billions of US dollars will be wasted. Although Hong Kong is a free economy, it is by no means a place where international speculators can freely "withdraw money". It is this that made Donald Tsang make up his mind. On August 14, the Hong Kong government attacked. This is a war without smoke, and its intensity makes all Hong Kong people who have experienced it shudder. The war reached its climax on August 27. Since the stock market opened at 10 a.m., speculators sold like a mountain of aggression. In just 15 minutes, the turnover reached 1.9 billion Hong Kong dollars, and in the 15 minutes before the market closed, the turnover reached 8.2 billion Hong Kong dollars. On this day, the trading volume of Hong Kong stocks reached HK$79 billion, 20 times the usual level, while the Hong Kong government spent HK$20 billion. The war ended with Soros's defeat. Soros has won different opponents in different places, so his "book on how to make money" is very popular in many countries, but today he lost to Donald Tsang. Afterwards, Donald Tsang's personal rating also rose to 65 points. He said: "Hong Kong citizens have called and sent faxes to express their support for me. For once, no one scolded me." Donald Tsang, the Financial Secretary of Hong Kong, who is responsible for directing the fight against international financial speculators (second from left, front row)