I'm in the county town, and you say I'm a big shot?

Chapter 208 "Wouldn't it be nice to let you come to Huijing for free?"

Sure enough, Bian Wengan said:

"Here's the thing, Mr. Fang, as you know, we took out a loan this year for technological upgrades, and a batch of goods has already been exported to an American company, worth about $10 million. We agreed that the other party would pay for the goods in three months, but this will create foreign exchange risk due to exchange rates. So I applied to the bank to do a forward exchange transaction. Minister Xia is now in charge of international business. Can you help with this?"

Fang Qingye found it strange: "Doesn't the Jinghai branch also offer this service? Why do we need to apply to the provincial branch?"

“Director Shen and I went to the Jinghai branch, but to be honest, I’m not very satisfied with the forward exchange rate they gave us, so I’d like to hear Minister Xia’s opinion. He’s at the provincial level, so he has a higher perspective.”

That's right
According to bank regulations, corporate clients participating in forward foreign exchange transactions need to submit a transaction application to the bank. The company needs to specify key information such as the currency pair, transaction amount, and forward settlement date. The bank will assess and approve the application based on the client's needs and risk profile.

Before a transaction is finalized, the bank will negotiate and determine the forward exchange rate with the company. This exchange rate is determined based on a combination of factors, including the current market exchange rate, interest rate level, currency supply and demand, and the customer's creditworthiness.

Once the transaction is finalized, the bank and the client will sign a foreign exchange forward contract. The contract will clearly define the rights and obligations of both parties, including the details of the transaction and liability for breach of contract.

In short, the two parties negotiate, and once an agreement is reached, it must be carried out in accordance with the contract.

Bian Wengan was not satisfied with the forward exchange rate offered by the Jinghai branch, so he thought about finding another bank. He happened to hear that Fang Qingye had resigned and opened a nursery, and knew that he had a good relationship with Xia He, who was now in charge of international business at the provincial branch, so he decided to try this route.

"What is the forward exchange rate that the Jinghai branch gave you?" Fang Qingye asked.

One US dollar is equivalent to 6.8310 Chinese yuan.

"Is this exchange rate basically the same as it is now?"

“Yes, I think the RMB will depreciate further, so we should exchange more,” Bian Wengan said, expressing his opinion.

No, it's appreciation!
An appreciation of the RMB would naturally be detrimental to exports, so the current exchange rate is the most appropriate.

However, this was Bian Wengan's own business, and Fang Qingye didn't want to offer any advice, since he was dealing with a bank, not himself.

“Okay, I’ll call Minister Xia right now.” Fang Qingye took out her phone and dialed Xia He’s number.

The call connected quickly, and Xia He's sweet voice, tinged with a hint of seduction, came through: "Qingye, did you miss me?"

"Ahem." Fang Qingye quickly coughed twice and said, "Minister Xia, hello, I'm Fang Qingye. There's something you need. You remember Jinxiu Textile Company, which used to take out a loan from our branch, right?"

Hearing Fang Qingye's serious tone, Xia He's voice on the other end of the phone also turned cold: "I remember, is there something you need?"

"Something came up. Mr. Bian from Jinxiu Textile is here with me. They want to ask you for a favor." Fang Qingye immediately put the call on speakerphone and briefly recounted what Bian Wengan had just said.

"Want to do forward exchange settlement? In principle, it's possible, but it's complicated and we need to meet in person to discuss it in detail. Have Mr. Bian bring the relevant company documents and come with you to find Huijing to find me, okay?" Xia He said on the other end of the phone.

"Okay then. When are you free?" Fang Qingye asked.

"Today is Wednesday. I have to go to a branch for research tomorrow. Please come the day after tomorrow and try to get everything done in one day!"

Fang Qingye didn't answer, but turned to look at Bian Wengan, who immediately nodded in agreement.

"Alright, we'll come over Friday morning and contact you then. Goodbye, Minister Xia."

"goodbye!"

Fang Qingye hung up the phone.

"Minister Xia is so enthusiastic," Bian Wengan exclaimed, then said to Fang Qingye, "President Fang, thank you for your trouble. We'll have to go to Huijing with us in person."

"You're welcome. I don't have anything to do right now anyway," Fang Qingye said with a smile.

At this moment, Bian Wengan said again, "President Fang, how about we leave on Thursday afternoon? We can stay overnight and go to the provincial branch to see Minister Xia first thing the next morning. Jinxiu Textile will cover all your expenses for this trip to Huijing!"

"Easy to say, easy to say."

After discussing the specific details, Bian Wengan and Shen Lan took their leave.

After seeing the two off, Fang Qingye dialed Xia He's number again. "Hey, Xia He, you can just let President Bian and the others go by themselves, why do you have to drag me along?" He knew that Xia He was definitely doing this on purpose.

Hearing Fang Qingye's tone, Xia He knew that he was alone, so she immediately said in a coquettish tone, "Wouldn't it be nice to let you come to Huijing for free?"

"It's alright. You deliberately chose Friday, are you planning to spend the weekend together?" Fang Qingye said with a smile.

"It wasn't intentional, it was just a coincidence. How about we go to Qixia Mountain to see the autumn leaves on Saturday? In the evening, I'll take you to a nice restaurant! Then we'll go see a movie!"

"Zhou Tian, ​​you're sleeping in late this morning and going to play badminton this afternoon! It's been so long since we played badminton together, I really miss it."

On the other end of the phone, Xia He was rambling on and on.

Fang Qingye felt a warm glow in her heart upon hearing this.

"Okay, Minister Xia, I'll follow your instructions!"

On Thursday afternoon, Fang Qingye drove from Nanxin to Huijing. He arrived in Huijing city at almost 6 p.m. at that time. Bian Wengan called to say that they had arrived in Huijing and had booked a hotel room for him.

"Okay, send me the hotel address."

Bian Wengan and his group booked a hotel not far from the Jiangsu Provincial Branch building. After Fang Qingye checked in, the three of them went to the branch building together after breakfast the next day.

This is Fang Qingye's first time here.

Fang Qingye had been working at Dongfangxing for more than two years and had come to the provincial branch for a meeting, but she hadn't come here. She met Xia He in an office on the fourth floor.

Wearing a bank uniform, with a polite yet reserved smile on his face.

After the three were seated, Xia He poured tea for them, then took the materials handed to her by Bian Wengan and looked at them before saying, "President Bian, Director Shen, I have already told our business manager Zhang about your situation. He is in charge of handling forward exchange business. How about we go downstairs and talk to him in person?"

"Okay, thank you for your concern, Minister Xia."

The three stood up, and Xia He looked at Fang Qingye again: "President Fang, shall we go down and listen together?"

"You guys go, I won't go."

"Alright, you can have your tea here."

After Xia He left, Fang Qingye suddenly felt a little bored. She looked around the office and wanted to search everywhere, but then thought better of it.

Xia He didn't say anything, but this was, after all, an office.

Just then, someone knocked on the door. Fang Qingye went to open it, and a hot girl stood in the doorway.

It turned out to be Cheng Zhenzhen, whom I hadn't seen in a long time.

The two had attended training courses offered by the provincial branch.

Cheng Zhenzhen was also very surprised to see Fang Qingye: "Fang Qingye, what are you doing in Senior Xia's office? Did you come here specifically to see her?"

"No, it's not that. I have a friend who owns a company who wants to do a forward exchange transaction." Fang Qingye then briefly explained Bian Wengan's situation.

"Minister Xia has taken them to the business hall on the first floor. Do you need to see her?"

“Yes, something came up, but it’s not urgent.” Cheng Zhenzhen sat opposite Fang Qingye and looked at him. “I heard from Senior Xia that you resigned? What are you doing now?”

"I opened a flower and seedling company and run a nursery," Fang Qingye said honestly.

Cheng Zhenzhen was very surprised to hear this.

"Oh? That's a pity."

(End of this chapter)