Raoul's China Saloon (V5.0) Beta
The Bar Room => The Bar (ON-TOPIC) => Topic started by: Calach Pfeffer on May 19, 2020, 09:10:56 PM
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So you've earned a bundle, and foreign exchange regulation being what it is now, maybe you're stuck with a lot of it in RMB form. Is there any sensible thing you can do with RMB these days other than leave it in the bank?
Asking for a friend.
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Still only property?
I wonder if there'll be any post-coronavirus rising star stories. Like, invest in medical surveillance tech NOW, or something
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Shenzhen, Shanghai, and Hong Kong all have stock exchanges. Many banks can also serve as brokers.
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Chinese guy I know spent a few years working the stock markets. He got married and stopped.
Anyway, what he used to say is the stock market in China was all about the invisible forces - basically local and national agencies and individuals manipulating just about everything and reporting almost nothing. You had, he used to say, to know which way the wind was blowing without ever seeing the sky. You had to be able to read the signs of market distortion and make some alternative bet about what that meant for real results.
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Although investing can be good; you could find friends or services that can send money to Western bank accounts through Alipay.
I use MyPengYou1 for amounts of 7000 RMB or less. It seems to work well, and efficiently.
There are dozens of smaller businesses that exchange.