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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.
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Last Saturday we went to Xu Jia Hui, one of the better known shopping centers in Shanghai. I voguely remember there were not too much when my bro and I visited there in 1991. It was completely developed in last 15 years. There are many stores, including Gang Hui Plaza, Metro City, etc. We found the newest store in Xu Jia Hui, Best Buy, the US electronics and applicance retailer. I heard from Wang Jianshuo the Best Buy opened its first store in Shanghai. But when I stood at the sky bridge leading to Best Buy, I was still a bit surprised. The store has 4 stories and lots of people, both customers and store clerks. Here are some pictures:
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