In this era, foreign exchange control policies are strictly implemented. If foreign exchange controls are relaxed, the RMB will plummet!
The government also knows that 3.5 yuan in RMB or foreign exchange coupons cannot be exchanged for one U.S. dollar in the international financial market, but the official price is 3.5 yuan in RMB per U.S. dollar, and the exchange coupons are equivalent to the RMB!
When foreigners come in, the foreign currency in their hands can only be exchanged for foreign exchange rolls or RMB. They can only use the foreign exchange rolls or RMB for domestic consumption. But foreigners want to return to their country. Sorry, please take away any unused foreign exchange rolls or RMB. Welcome. Come and spend again!
Foreigners and compatriots from Hong Kong, Macao and Taiwan who travel, visit relatives, invest, etc. have all been influenced by the international financial market, are they not fools? If the government does not change, tourists and family visitors will be ignored for the last time. But if investors make money in China, if they want to take it away, they can only exchange it for U.S. dollars at a price of 3.5 to 1. If things go on like this, investors will run away. Reform Opening up will reverse the course!
A compromise method is adopted. Instead of exchanging at the black market price of 1:6 or 7, the Bank of China still exchanges foreign exchange coupons at 1:3.5 (foreign exchange coupons can be exchanged for RMB of equivalent value), but it allows you to use foreign exchange. Juan bought a product at a friendship store that was 30% cheaper than the market price and took a step back.
Foreigners and overseas Chinese have endless amounts of foreign exchange rolls and RMB that they don’t want to take back. If they take them back, they will depreciate and have no place to use them! There are also many foreign and Chinese employees of foreign companies in China whose wages are paid with foreign exchange coupons. The Bank of China does not use foreign currency to recycle foreign exchange coupons or RMB. In addition to open shopping, the unused foreign exchange coupons are sold privately. Give these scalpers, exchange them for foreign currency and leave, plus a group of people who have become rich need foreign exchange coupons to buy imported goods.
Where there is demand, there is a market, and the market needs an intermediary for transactions between both parties. Bank of China will not come forward to establish such an intermediary market, otherwise it will be slapped in the face!
The scalper group that illegally buys and sells foreign exchange rolls and foreign exchange was born!
On the one hand, foreign exchange controls are strictly implemented. On the other hand, a large amount of foreign exchange is needed to import goods and technologies needed for economic development. The official price of RMB is not recognized by international investors. If it is strictly enforced, investors will not be able to make profits. There is no hesitation. leave the domestic market and weigh the pros and cons, the government will turn a blind eye!
During this period, Pengcheng Special Economic Zone and Zhucheng Special Economic Zone were also authorized to implement the policy of free circulation of foreign currencies, as well as foreign trade rights!
Sun Jian didn't know these things. Otherwise, he would have issued a certificate at school and applied for a border permit at the Public Security Bureau. Then he would have taken a trip to Pengcheng or Zhucheng with $50,000 during the summer vacation, exchanged it for RMB at the market price, and deposited it in RMB. Bank of China, where the check is drawn and returned to Bank of China in Jiangcheng for exchange.
What if the border police discovers the US$50,000 he is carrying when passing through the border checkpoint?
Sun Jian has been to Pengcheng and Zhucheng several times in his previous life. His current mentality is still that of a fifty-three-year-old. He dares to go to the United States, not to mention the two small counties that are still in the development stage. He only needs to issue an identity certificate and a letter of introduction at the school. enough.
At this time, there are still no ID cards. When traveling and staying, you need to present an identity certificate and a letter of introduction stamped with the official seal issued by your work unit or street.
During this period, it is seriously illegal to engrave official seals privately, and you will be arrested and imprisoned for several years!
Sun Jian vaguely remembered that in order to expand exports and relax some controls on the RMB, the RMB depreciated against the US dollar to a maximum of 8.3:1.
Sun Jian, a second-generation man, heard the price quoted by the scalpers and immediately understood that it was not "illegal" for him to sell the exchanged foreign exchange coupons to these scalpers, and he no longer felt burdened!
If you really think that these scalpers who buy and sell foreign exchange rolls are illegal, can you still let them sit at the gate of the Friendship Store holding a sign and go to work every day? During this period, the public security officers were very enthusiastic about their work.
He breathed a sigh of relief. Sun Jian's previous worries were unnecessary. The US dollars were converted into foreign exchange rolls, and the foreign exchange rolls were converted into RMB. He used RMB to do business. However, he has not yet found a good money-making idea. He can only take one step at a time. Fortunately, he has plenty of time and is not short of money for the time being.
He plans to go to several Bank of China branches around Jiangcheng Health School, directly open personal foreign currency deposit accounts and RMB accounts, and directly deposit U.S. dollars and RMB exchanged with foreign exchange certificates into these accounts. He will study and live in the next ten years or so. and work are all within a five-kilometer radius centered on Jiangcheng Health School.
The Industrial and Commercial Bank of China was established last year and has a branch next to Jiangcheng Shopping Mall.
During this period, there was no real-name system for deposits, and there was no ID card. You could just say Li Gang or Wang Yong.
Sun Jian pushed open the glass door, and a stream of air-conditioning hit his face. The chandelier hung high and the lights were bright. In the nearly 1,000-square-meter hall, there were rows of glass display cabinets, and the dazzling array of products were divided into categories. It was clear at a glance. The spacious aisles, foreign countries While people, overseas Chinese, and Chinese people were passing by, a pretty female salesperson wearing a uniform white shirt and black culottes stood behind the counter, smiling, speaking in foreign languages, and enthusiastically serving foreign guests.
Friendship Store mainly deals in high-end, fine and famous products, high-end and mid-range goods and new products. It has established a wide range of silk, satin and woolen products, watches and jewelry, famous wines and cigarettes, fur products, ethnic handicrafts, precious Chinese medicines, antique calligraphy and painting, clothing, shoes and hats and imported products. Home appliances and other counters have a wide variety of products. Sun Jian seemed to have returned to a large shopping mall in his previous life. Looking at the product counters labeled in Chinese and English, he quickly found the clock and jewelry cabinet. At a glance, he found the familiar gem flower tag and calendar on the counter. The men's watch has a label that says 65 yuan in foreign exchange coupons. It sells for 85 yuan in Gangcheng Department Store, which is equivalent to a 30% appreciation of the foreign exchange coupons against the RMB.
"Hello sir, may I help?"
The female salesperson did not look down upon Sun Jian because of his immature face and casual dress. During this period, the male and female salespersons who could work in the Friendship Store were young and beautiful women and tall and handsome men. They represented the image project of the Chinese people, could speak foreign languages, and had clean family backgrounds and ancestors. The three generations have to find out. Foreign leaders sometimes appear here. If something goes wrong, it will be a diplomatic incident. If the Ministry of Foreign Affairs is alerted, many leaders will be dismissed from their posts and investigated. If not, they may go to jail!
"Hello, could you please take out this gemstone watch?"
"Please sir, wait a moment!"
"Please help me write a ticket!"
"Please sir, wait a moment!"
Sun Jian paid the bill with a 100-yuan foreign exchange coupon. The cashier retrieved the 35-yuan foreign exchange coupon and came back with the invoice. He got the watch in a beautiful box and took away the watch, invoice and warranty card, leaving the box.
The canvas schoolbag is too small and bulging, and the grandson's father and grandma will immediately notice the problem.
"Sir, walk slowly!"
