Reborn in 76: Leading the Whole Village to Eat Meat and Prosper

Li Xiangdong lived a wealthy life until sixty, with a house full of children and grandchildren, but one day he was sent to the heavens by the two green hats his wife gave him.

When he opened ...

Chapter 525 Green Paper

Considering Liu Donglai's current position, if Qian Shiren still wants to survive in mainland China, he's in for a world of hurt today.

However, in order to alleviate the pressure on his funds, Qian Shiren proposed to settle accounts with Li Xiangdong using green paper (US dollars).

In 1983, Hong Kong formally established a linked exchange rate mechanism pegged the Hong Kong dollar to the US dollar and maintained a fixed exchange rate of 7.80 Hong Kong dollars to 1 US dollar.

According to the official exchange rate in 1983, the exchange rate between the US dollar and the Chinese yuan was 1:1.9573. However, according to the actual exchange rate on the black market in Yanjing at that time, 1 US dollar could be exchanged for about 8 to 10 yuan, and at its peak, it could even reach 1:13.

If you exchange RMB 60 for HKD 100 at the People's Bank of China counter, you can get HKD 100.

"You're a businessman, so you must know that the RMB exchange rate has been depreciating. Green paper is much more reliable than RMB. How about this, I won't do a long calculation with you. Let's just say one US dollar is worth 10 RMB, okay?"

Qian Shiren and Li Xiangdong discussed it, and then Qian Shiren kept glancing at Li Xiangdong, betting that he wouldn't understand the exchange rate between the three for the time being.

Li Xiangdong naturally understood what he was planning.

It's nothing more than going around in circles and giving yourself less money.

Li Xiangdong remained silent, and Qian Shiren quickly gave Qian Hanzhong a wink.

Qian Hanzhong, who had been quietly observing from the sidelines, stammered, "Xiang Dong, could you please give me some face..."

Li Xiangdong gave him a deep look, and finally said readily, "Alright, then for my cousin's sake."