Chapter 233 This Is the Best Time and Compulsory Exchange Settlement

Tang Xinyi said playfully: "Hehe, that's not up to you, wait until I wash you clean inside and out!"

"Haha, what do you mean by inside and out?"

Tang Xinyi joked: "Honey, you know this..."

After the two entered the bathroom, they played around...

"Honey, it's itchy, itchy, don't!"

"Stop it, Stop!"

"Haha, it's so itchy!"

"Don't, don't..."

After taking a bath, Li Xiaofan used rose essential oil to give Tang Xinyi a comfortable massage all over her body.

Tang Xinyi sighed: "Wow, it's so comfortable, honey, your hands are so powerful!"

"Xinyi, your skin is so smooth, the massage feels incomparable!" Li Xiaofan sighed.

"Hate it, change it later, I'll give you a massage!" Tang Xinyi said angrily.

"Haha, OK..."

After spending a long night with Tang Xinyi, Li Xiaofan took the train to Mingzhou the next day.

In Mingzhou, Li Xiaofan called Wu Xiumei and several recently recruited colleagues from Yifan Industry and Trade to hold a meeting for them and arranged the recent work priorities.

Before the meeting, when Wu Xiumei reported on her work, she introduced that the newly recruited engineer Gu Guofeng, who was in charge of electronics and electrical appliances, was quite capable. He had recently trial-produced an infrared automatic sensing outdoor lawn lamp sample with the Mingzhou Automatic Door Factory.

And asked Gu Guofeng to show the infrared automatic sensing outdoor lawn lamp sample, which made Li Xiaofan applaud and praise: "Gu, good! The appearance of this infrared automatic sensor will be perfect if the streamline design is more beautiful!"

Gu Guofeng is a college student who graduated from the Electronic Engineering Department of Mingzhou Higher Vocational College. Later, he studied for an undergraduate degree at Shanghai Jiaotong University in his spare time. He used to work in a state-owned electrical appliance factory and earned only about 400 yuan a month.

After joining Yifan Industry and Trade Company, Li Xiaofan gave him a starting salary of 800 yuan, which was doubled, so Gu Guofeng has been working particularly hard recently.

The next day, Li Xiaofan rushed back to Singapore without stopping.

After arriving in Singapore, ACRA Singapore Accounting and Corporate Administration called to inform that Li Xiaofan's new Singapore Yifan Technology Pte. Ltd. had completed the registration and filing.

After getting the new company registration and filing materials from ACRA Singapore Accounting and Corporate Administration, Li Xiaofan took Pan Zhanlong and Gu Qijun to Singapore Science Park and formally signed an agreement with Tengfei Group to rent 500 square meters of space in the park's SME R&D building. Lin Muchu's policy is very powerful. After the subsidy, the monthly rent is only 1,500 Singapore dollars.

The basic decoration of this R&D building has been completed, and it can be used with a little division and soft decoration.

Lin Muchu recommended to Li Xiaofan a decoration company that she was familiar with that served enterprises in the park, and simply divided and decorated the 500 square meters of space.

At the end of June, this 500-square-meter R&D office of Singapore Yifan Technology Company was put into use.

In the past two months, orders from ALCO Department Store in the United States and NTUC FairPrice Cooperative in Singapore have continued to come in, and the orders for daily consumer goods are very good.

With the increase of Yahoo's influence on the global Internet, the advertising effect of Li Xiaofan's Yifan Company on the homepage of Yahoo has become better and better. Later, it has received many inquiries and orders from merchants from developed European and American countries such as Germany, Britain, France and Japan.

Starting in June, Yifan Company received so many orders that the manufacturers in Minnesota were unable to produce in time. Wu Xiumei began to place orders with nearby factories in the Yangtze River Delta region.

1995 was the peak moment of Western developed countries. The former Soviet Union collapsed, and the Eastern Dragon, mainland China, was not so strong and was dormant.

The main characteristics of the development of the US economy in 1995 The US economy is currently in its fifth year of growth, which is one of the longest growth periods in the modern history of the United States.

European and American countries, led by the United States, have no competitors in the world, and they are in high spirits!

That year, in 1995, the total GDP of the five countries of the United States, Japan, Britain, France and Germany was trillion US dollars, accounting for 60.4% of the global GDP, which was 17 percentage points higher than the proportion of % in 2016!

In 1995, China's GDP accounted for only 2.3% of the world, and its contribution to the global economy was not high.

At that time, the economic development of Western countries reached its peak. In 1995, the total GDP of the United States was trillion US dollars, ranking first in the world, and the GDP of Japan reached trillion US dollars, second only to the United States. At that time, the Japanese economy also reached its historical peak. That year, Japan's GDP once reached 71.3% of the US GDP, setting a historical high, becoming the only country to reach more than 70% of the US GDP.

At this time, the global economic total had just exceeded 30 trillion US dollars, with the US GDP accounting for 24.7% of the world and Japan accounting for 17.6%.

In Li Xiaofan's memory, 1995 was a turning point. After that, China's economy began to grow rapidly, while Japan entered a 20-year economic recession after 1995. The total economic volume continued to decline, and the proportion of countries in the entire Western world in the world economy declined.

In 1995, due to the strong economic performance of developed countries in Europe and the United States, people in Europe and the United States had strong consumption demand, and a steady stream of consumer goods orders began to hit countries like mainland China.

In June, the staff of Mingzhou Yifan Industry and Trade Company has expanded to 15 people to cope with the growing orders from developed countries in Europe and the United States.

Throughout June, the foreign trade orders received by Singapore Yifan and Mainland Mingzhou Yifan exceeded 3 million US dollars, and the gross profit reached nearly 800,000 US dollars.

Li Xiaofan cleverly used Singapore Yifan and Mainland Mingzhou Yifan Industry and Trade to receive foreign orders. Generally, Li Xiaofan basically received large orders in the name of Singapore Yifan Company, and then issued orders to Mingzhou Yifan Industry and Trade Company or directly placed orders to mainland suppliers.

In addition to keeping foreign trade customer information confidential, the biggest benefit of using Singapore Yifan Company to receive orders is that foreign exchange can be retained in Singapore, because the mainland began to implement the "compulsory exchange settlement" system in 1994.

Previously, in 1992, the mainland's current account had a deficit of 11.9 billion US dollars, and foreign exchange reserves were only 21.2 billion US dollars that year. Zhu Xiang, who was also the governor of the central bank at the time, found that if this continued, the country's foundation would be shaken. "If the foreign exchange reserves dropped to 10 billion US dollars, it would be very dangerous and my country's reputation abroad would be greatly reduced."

In 1994, the mainland of China carried out a reform of the foreign exchange management system, implemented a bank foreign exchange settlement and sales system, and implemented foreign exchange settlement and sales turnover position foreign exchange limit management for designated foreign exchange banks. The foreign exchange funds used by banks for foreign exchange settlement and sales business turnover shall not exceed the approved range, otherwise they must enter the inter-bank foreign exchange market for compensation.

In fact, the "compulsory foreign exchange settlement" system began in 1994, that is, the foreign exchange received by export enterprises must be sold to banks at the bank's purchase price on that day. Under the compulsory foreign exchange settlement system, export enterprises no longer have foreign exchange accounts. The RMB obtained from selling foreign exchange to banks can only enter the company's RMB basic account.

This "compulsory foreign exchange settlement" system lasted until August 13, 2007, when the State Administration of Foreign Exchange website quietly released the "Notice of the State Administration of Foreign Exchange on the Self-Retention of Foreign Exchange Income from Current Accounts by Domestic Institutions". At this point, the 13-year-old enterprise compulsory foreign exchange settlement system officially withdrew from the stage of history...