Return to Singapore 1995

Zhu Junda saw Li Xiaofan and jumped up from a distance and called out, "Brother Fan, come quickly!" His excitement was beyond words.

"What's the matter?"

"You have seen the announcement on the wall! The last valid trading price of the 327 Treasury bond yesterday was 151.30 yuan. I will tell you another good news: the Ministry of Finance's interest subsidy announcement for the 327 Treasury bond was officially published today! I estimate that the 327 Treasury bond futures will rise today!"

Sure enough, after the opening of the market in the morning, the opening price of the 327 Treasury bond futures of the Shanghai Stock Exchange reached 152.8 yuan! If calculated from 147.4 yuan, it has risen by 5.4 yuan.

"Ada, close all positions for me, don't leave a single one!"

"Brother Fan, the market is so good now, why do you want to close your positions?" Zhu Junda asked in confusion.

"Brother, there is no end to making money, close all positions immediately!"

"Okay, I'll do as you say!"

After closing the positions, Zhu Junda said excitedly: "Brother Fan, after deducting all the fees such as stamp duty, you have made a net profit of more than 2.03 million! There are more than 3.53 million in the account now!"

"Ada, now you have to transfer 3.52 million of this to my Bank of China account, and the remaining more than 10,000 will be left to you!"

"Oh, damn, you reward me so much! Brother Fan, this more than 10,000 yuan is equivalent to my salary for two years, thank you so much!"

Excited, Zhu Junda thought of one thing: "Brother Fan, I have to discuss it with the boss of our company's fund management department. In principle, they should require the customer's profitable funds to be T+1. I will communicate with him, and there should be no big problem!"

Li Xiaofan remembered that the system of "investors cannot withdraw the profits from closing positions on the same day before the settlement is completed" was introduced in 2013. The purpose is to allow management agencies and exchanges to remedy the situation after discovering illegal and irregular cases such as cross-trading. At that time, the China Securities Regulatory Commission issued the "Notice on Strengthening Internal Control of Futures Companies to Protect Customer Funds", which required that futures companies should strictly implement the same-day zero-liability settlement system, and investors should not withdraw their profits from closing positions on the same day before the settlement is completed.

In the 1990s, each futures broker made its own local regulations in order to retain customer funds and transactions.

Ten minutes later, Zhu Junda came back and said, "Brother Fan, it's done! 3.52 million in cash has been transferred to your Bank of China account. You can check it now!"

Half an hour later, Li Xiaofan rushed to the counter of the Bank of China Mingzhou Branch next to the City God Temple to check the balance of his account. The beautiful lady at the counter replied: 3.52 million in cash has been received!

After printing the balance details of the passbook and coming out of the bank counter, Li Xiaofan met the scalper Ah Liu again at the door.

"Boss Li, do you have any new coins to sell today?" Ah Liu said happily.

"Haha, Boss Liu, I'm going to buy new currency from you today!"

"Did I hear it right? Is it buying or selling?"

"Buy" and "sell" are pronounced almost the same in Mingzhou dialect, but the tone is different.

"I'm buying from you, buy, buy, buy!" Li Xiaofan smiled and said three buys in a row.

"Sure, how many new currency do you want to buy?"

"What is the selling price of new currency here today?"

"Old price, 5.7! The selling price of new currency in the bank today is 5.79, how about my price, is it okay?"

"Can you give me a discount? Last time I sold it to you for only 5.6!"

"Boss Li, it's true that you sold it to me for 5.6 last time, but the risk of exchange rate fluctuations is all on me!"

"If I have a large quantity, can it be cheaper?"

"How big is your quantity? How many new currency do you want to buy?"

"3.52 million RMB..."

"Oh shit, that's a big deal!"

"Yeah, do the math. The exchange rate I sold you for 290,000 SGD last time was 5.6. If I buy it back at 5.7 now, I can only get 285,000 SGD. You've made 5,000 SGD in these few days!"

"Boss Li, if you say that, then the bank is even more unscrupulous and they make more money!"

"A Liu, if you give me a discount, I'll do this big deal with you. Otherwise, I'll go to the Bank of China in other districts to find someone else to exchange it!"

Li Xiaofan pretended to be about to call a taxi and leave.

Ah Liu stopped Li Xiaofan: "No, Boss Li, big deals can be discussed slowly!"

"I'm in a hurry, give me a straight answer, how about 5.63?"

"5.63 is definitely not okay, you have to give us some room! So, since you have a large quantity, I'll give you a discount: 5.68!"

"It's still too high! So let's both make a concession, 5.65! Just with this exchange rate, you can earn about 2,600 Singapore dollars, equivalent to 15,000 RMB, from my last 290,000 Singapore dollars!"

"Brother, stop talking! So, I'll give you You give me the most favorable exchange rate, and make it lucky: 5.66! "

Li Xiaofan thought for a while: "Okay, let's go with this 5.66!"

"Okay, let me use a calculator to calculate how many SGD I should give you..."

A Liu took out a small calculator and calculated: "Oh shit, it's 622,000 SGD, Boss Li, I only have about 300,000 SGD on hand, of which 290,000 are your 29 10,000 yuan bills, I don't have that much SGD on hand now! You have to wait for me for a while, I have to go and adjust it!"

"It doesn't matter, I'll wait for you!"

This scalper's network is very powerful. Because the trade between Mingzhou and Singapore has become increasingly frequent in recent years, more and more people from Mingzhou have gone to Singapore to work. After more than an hour, he collected 622,000 Singapore dollars in cash from other scalpers.

Except for the 29 bills of 10,000 yuan that Li Xiaofan originally had, the others were mainly 1,000 yuan in cash, and there was a small amount of 50 yuan in cash.

After Ah Liu checked and confirmed the balance of Li Xiaofan's passbook at the bank counter, the two handed over the money and the passbook, and the transaction was completed.

After these transactions were completed, Li Xiaofan settled the cash on hand:

Last time, 300,000 Singapore dollars were exchanged for 290,000 Singapore dollars, and there was still 10,000 left. With the 622,000 this time, he now has a total of 632,000 Singapore dollars on hand. In addition, there are more than 2,000 Singapore dollars in the Singapore Post Bank account where Ximu Electronics pays his salary, which can be used as living expenses.

After the last currency exchange, 1.5 million RMB was remitted to invest in 327 national debts, leaving 124,000 RMB in cash. 36,000 RMB was used to buy Hainan yellowwood logs, 50,000 RMB was used to buy Hainan yellow furniture, plus shipping, air tickets, hotels and other miscellaneous expenses, there is still more than 30,000 RMB in cash on hand.

On the way back to his hometown in Ningdong County, Li Xiaofan took out 10,000 RMB in cash and gave it to Lin Zhiyong: "Ayong, these are for you!"

Lin Zhiyong was stunned when he saw the thick stack of RMB in front of him. He had never had so much money in his hands. He only earned two or three hundred RMB a month working in his sister and brother-in-law's small furniture factory.

"Brother Fan, what are you doing? As the old saying goes, no merit without reward, why are you giving me so much money!"

"This is your hard-earned money. After the yellow wood and furniture shipped from Haikou arrive at the port of Mingzhou, you will be responsible for delivering them to my uncle's house. It will cost a lot of freight!"

"That doesn't need that much. Go to the freight market and call a truck. It will only cost two or three hundred yuan at most!"

"If there is any money left, you can do some small business! These days, I saw that the demolition of the LC area in Mingzhou is in full swing. I guess many people don't want the old furniture in their homes, especially those exquisitely carved thousand-work beds, carved boards, and mahogany furniture. There are also many left by wealthy families in the countryside near Ningdong. You can collect some of them. Then take them to Shanghai Gubei Hongqiao where rich people and foreigners gather to set up a stall. Maybe you can find some business opportunities..."