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What to do with savings in HK?

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  1. #21

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    Quote Originally Posted by Morrison:
    Cash is cash, all else is spec or investment
    Unfortunately, cash is just currency, back by the faith of the government issuing it. Should it decide to print more, it will be worth less. Ultimately, you can't eat it directly.

  2. #22

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    The other option is if you want to keep it liquid is to convert some into RMB. Though I suspect that gains in RMB will not be the 5-6% it has been over the last few years.


  3. #23

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    Quote Originally Posted by md23:
    Unfortunately, cash is just currency, back by the faith of the government issuing it. Should it decide to print more, it will be worth less. Ultimately, you can't eat it directly.
    That logic means you should spend it now before it becomes worthless!!!

  4. #24

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    Quote Originally Posted by MovingIn07:
    OK - not you then - somebody put up a post saying "send me a PM I have all the answers" or something similar and two dorks said they had/were going to PM him ... so I told them they were idiots because it was clearly a FA ... then everything got deleted!
    Yea there was a guy with 1 post who seemed to be promoting his services.

  5. #25

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    Quote Originally Posted by Matt_NT:
    Probably why I keep deciding against that one :-) It took 2 weeks to get a credit card sorted so not sure how much I would trust their investment advice.
    Most banks do not have advisors, they have sales people.

  6. #26

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    im interested in RMB savings account, does anyone have more experience with how this works? i assume if you convert to RMB and the RMB appreciates against the USD that you will lose out on the transfer back to HKD as long as it's pegged to USD?


  7. #27

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    Quote Originally Posted by md23:
    Unfortunately, cash is just currency, back by the faith of the government issuing it. Should it decide to print more, it will be worth less. Ultimately, you can't eat it directly.
    Unfortunately, your reading skills are mediocre.

  8. #28

    Join Date
    Aug 2006
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    Take it to the mainland and buy a 'product' from one of the main banks. SPDP is a good one. I get 5% over a fairly short term


  9. #29

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    Oct 2005
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    Quote Originally Posted by zhuxai:
    Take it to the mainland and buy a 'product' from one of the main banks. SPDP is a good one. I get 5% over a fairly short term
    Do they sell these 'products' to non-Chinese speaking foreigners?

  10. #30

    Join Date
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    Quote Originally Posted by Barbara.hk:
    you can buy savings products (such as MAXX) in AXA by opening an account there. the interest rates are much higher and the investment invites less risk than in the stock market !!!
    Remember: don't put it in the banks, the inflation rate is too high in Hong Kong NOW.
    Insurance sales staff never tell you how much commission they are earning.
    aethelwulfTO likes this.