Being a financier may not be the exclusive privilege of those working on Beijing＇s Financial Street and Shanghai＇s Lujiazui v Area. Exporters in some remote towns are training themselves to become adept at mov- ing ...Being a financier may not be the exclusive privilege of those working on Beijing＇s Financial Street and Shanghai＇s Lujiazui v Area. Exporters in some remote towns are training themselves to become adept at mov- ing cash. They are thoroughly conversant in the non-deliverable forward market in Hong Kong and the renminbi lending rate on China＇s mainland. A man sumamed Luo, who declined to provide his given name, was one of them. Channeling the U.S. dollars borrowed in Hong Kong at a low interest rate into a trade company is his long-practiced technique. After convert- ing it into renminbi, he lent the money out at a higher interest rate. The ensuing profits have led him to shift his focus away from his own outdoor gear and supplies business in coastal Zhejiang Province.展开更多
文摘Being a financier may not be the exclusive privilege of those working on Beijing＇s Financial Street and Shanghai＇s Lujiazui v Area. Exporters in some remote towns are training themselves to become adept at mov- ing cash. They are thoroughly conversant in the non-deliverable forward market in Hong Kong and the renminbi lending rate on China＇s mainland. A man sumamed Luo, who declined to provide his given name, was one of them. Channeling the U.S. dollars borrowed in Hong Kong at a low interest rate into a trade company is his long-practiced technique. After convert- ing it into renminbi, he lent the money out at a higher interest rate. The ensuing profits have led him to shift his focus away from his own outdoor gear and supplies business in coastal Zhejiang Province.
