One dollar is 7.50 Yuan
By stlplace on Sep 16, 2007 in Stocks, China
Week in review 09/09 to 09/15
1) One dollar is 7.50 Yuan. This is the rate I got from China Construction Bank ATM today, using my BoA debit card.
2) The China People’s Bank raised interest rate (by 0.27%) again in the weekend.
3) Moon cake coupon: there are many “moon cake coupon” flippers these days, as mid-autumn festival is approaching. Basically they buy the moon cake coupon from people who got it from Danwei, and resell it to make a profit. The catch is most moon cake coupons will expire on Sept. 25, just like the stock options expires on the 3rd Friday of each month in the US market 
4) Lots of books about stocks, investing in the book store: from Warren Buffett to Peter Lynch, and many “experts” I never heard of.
5) Best Buy: my wife asked why the sign at Best Buy is not straight, I told her that’s the way it is.
Geek squad: a mom and her son (Oversea Chinese) brought their laptop to the technicans at Best Buy. It appears the mom is not happy with his son screwing up the computer by downloading unsolicited programs. The tech guy answered the questions well, both in English and Chinese.
I thought expats trusted Best Buy (instead of Chinese local retailer) because they shopped at Best Buy back in US or Canada.
are welcome.
