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ZST Digital Networks, Inc. Message Board

  • cvdpro cvdpro Nov 30, 2011 9:29 AM Flag

    In china, Interest rate is negotiable

    The banks tries to hit their deposit target especially at the months end. They will offer big annualized interest(over 10%) if you park your money in their bank for just couple of days.

    If if you have over 5 million, you can easily get over 4%(lots of companies get around 6%). You can get over 2.5% in a checking accent setting(they pay you average balance.

    So if you use 2.5% interest, Their average cash daily balance with the bank is about 8 million dollar last quarter. 4 x 50,0000/0.025. This inconsistence with their 55 million month end cash position.

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