Chapter 79 Foreign Exchange
Wu Ming was not surprised that the two old men were so excited, but the balance of foreign exchange reserves of the mainland government was too small.
Foreign exchange reserves are the basis for a country's external receipts and payments. Therefore, the amount of foreign exchange reserves not only reflects the vitality and attractiveness of a country's foreign economic transactions, but also reflects the strength of the country's ability to borrow and repay debts abroad.
In other words, in a sense, the more foreign exchange reserves a country has, on the one hand, it indicates that the country's export competitiveness is stronger, and on the other hand, it indicates that the country's political and economic situation is stable and foreign capital is competing to enter. Vice versa.
As the issuer of international reserve currency, they do not need much foreign exchange reserves, because the currencies of these countries themselves have the role of world purchasing power, so they maintain relatively small foreign exchange reserves. For example, the United States and the European Union later maintained foreign exchange reserves of only a few tens of billions of dollars.
This is not the case with China, because in the past, China was in the era of planned economy, lacked foreign exchange, and had the impulse to overestimate the local currency. The official exchange rate between the US dollar and the renminbi is roughly 1:2, but on the black market it has reached more than two or three times this ratio, and even reached more than 1:10 at the highest.
The gap in this proportion is so large, coupled with the fact that the renminbi can only be used domestically, it is conceivable that those foreign companies are naturally reluctant to accept the renminbi. Otherwise, it's not a big loss.
Therefore, in order to be able to buy advanced equipment and technology from abroad, the Chinese government has tried all kinds of ways to increase its foreign exchange reserves. In order to earn foreign exchange, even if they lose money, some enterprises still want to export their products to earn foreign exchange.
After continuous efforts, after 1990, Huaxia had tens of billions of dollars in foreign exchange reserves. Since 1996, it has hundreds of billions of dollars in foreign exchange reserves. After 2006, Huaxia even had trillions of dollars in foreign exchange reserves.
But in this era, the Chinese government has very little foreign exchange reserves. Last year in 1979, the total balance of all China's foreign exchange reserves was just over $800 million.
In addition, most of the foreign exchange has been intercepted by the central government, and the foreign exchange reserves of Ganjiang Province may not be as much as the cash flow of Xingchen Entertainment, so it is no wonder that Jiang Lao and Bai Lao will be so out of shape when they hear that the US dollar is the settlement currency.
"My Star Entertainment makes a lot of profits in the United States, and it is not a big problem for me to settle in US dollars, and we are naturally happy to be able to help my hometown. Wu Ming smiled and said.
Hearing this, Jiang Lao said with a serious face: "For you, it may just be a casual thing, but it has helped us a lot, and we will always remember your friendship." ”
"The second elder is really too polite. Wu Ming waved his hand, signaling that this was nothing, and then changed the topic again. However, although these raw materials are easy to manufacture, the two old gentlemen must find some companies that can pass the quality test. My father's company and I are all going to sell overseas, so we can't be sloppy in this regard. ”
Jiang Lao and Bai Lao hurriedly made a guarantee, "You can rest assured, the two of us will personally supervise them, and we will definitely not let inferior products appear in our supply." ”
Wu Ming nodded and said with a smile: "Then I'll rest assured." ”
Then Wu Ming and the others chatted with the two old men here, chatting about the industrial situation of Wu Ming's family, the prospects for the development of the mainland, and possible problems. By noon, they had another meal together. The two old men finally took their leave and left.
As soon as the two old men were sent away, Wu Ming couldn't wait to say: "Grandpa, uncle, dad! Let's go home quickly, it's almost two o'clock now, and the way home is difficult to walk." If you don't leave, it's going to be late when you get home. ”
After leaving his hometown for two years, Wu Ming misses the scenery of his hometown and his relatives and friends very much.
After all, although he was only four years old when he left, the average child may not be able to remember the original events at all. But Wu Ming is different from ordinary people, he lived here for so many years in his previous life, and he has a deep affection for this place.
Wu Bingan also nodded and said, "Not bad." Although it is relatively close to the city to the home, it is difficult to walk because there is no cement road. It takes more than two hours by car, so I have to go back quickly. ”
Grandfather Wu Jianhua immediately clapped his hands and said, "Okay, then let's pack up our things and go home immediately!"
After a while, everyone was packed.
Then, Wu Ming and his entourage rushed to their hometown in several BJ Jeep 212s sent by the two old men.
Wu Ming's hometown is not far from the provincial capital city of Changnan, a small rural village under the jurisdiction of Sanjiang Town, a thousand-year-old town.
Sanjiang Town is located in the southeast of Changnan City, and it is also a small town with many talents. Wan Shaofen, the first female secretary of the provincial party committee in China, and Cai Fangyin, a world-famous bridge expert, are outstanding representatives here.
Because of the underdevelopment of transportation in this era, most of the roads are still paved with stone ballast. There are potholes along the way, and it is inevitable that there will be potholes.
So under the bumps along the way, except for those bodyguards who often train, the faces of the others are not very good-looking.
Her sister Wu Ying, who had been looking curiously at the scenery of the fields outside, had turned pale. Mother Li Feng could only keep comforting her sister in her arms.
Although Wu Ming is a child, he exercises regularly, and his soul is still the soul of an adult, so the bumps along the way did not have a very big impact on him.
"Fazi, your face is not very good-looking, there is no big problem!" Wu Ming looked at Sakai Fazi's somewhat pale face and asked with concern.
Several other friends wanted to stay at home and celebrate the New Year with their families, so they were not on this mainland trip. Zhou Huimin's family also didn't come because they still had an old man to take care of.
And Sakai Noriko didn't want to stay in other people's homes, and just wanted to follow Wu Ming, so this time he also followed Wu Ming and others to the mainland.
Sakai shook his head and whispered, "Amin, I'm not a big deal, it's just a little uncomfortable, and it will be fine later." ”
Wu Ming saw Sakai say this, although he was still a little worried, he was also a little relieved.
"Little brother, don't patronize and care about your little lover, but also care about my sister and me."
Although her cousin Wu Yonglin, who was sitting in the window seat in the back seat of the car, was a little uncomfortable, she still laughed at Wu Ming and Sakai with a smile on her face.
Hearing this, Sakai's face suddenly turned red.
Wu Ming looked at his cousin a little speechlessly, and said helplessly: "Haven't you always called yourself a strong woman in front of us, how can you still need a weak child like me to care about you." ”
Wu Yonglin paused suddenly, not knowing how to refute Wu Ming, obviously she had indeed boasted like this.
Seeing her like this, Wu Ming smiled slightly. The cousin Wu Yongzhe next to him also sneered, obviously very happy that his sister was deflated.