Bored with chemical trade, forex is his new formula for success
He Chuan , 33, makes it his business to know about money. From his office in Beijing, the senior trader at China Construction Bank's (CCB) treasury department keeps a lookout for ways to maximise returns on his clients' foreign currency reserves. Mr He tells Jane Cai what it is like to work in this emerging industry.
Q: How did you come to be a forex trader at a bank?
A: My university major was foreign trade. It was a popular major. I graduated in 1992 and joined the import-export division of a large chemical group in Jiangsu . The job was not as interesting as I thought it would be and three years later I was enrolled in a postgraduate banking programme through the People's Bank of China. After that, I joined CCB and embarked on this challenging career.
Q: What's your job like?
A: We manage foreign currencies for our clients and our own bank. We watch international foreign exchange market movements, keep an eye on events and issues which may have an impact, contact our clients and come up with solutions to either help them avoid risk or increase profit. It's really exciting and thrilling to be able to make money in a short time. It gives me a sense of achievement.
Q: What about your corporate
clients?
A: Corporate clients are the most important part of our business. Most of them are state-owned enterprises. Foreign banks give them a lower credit rating so they usually have to pay higher charges to cover the credit risk. But, as a state bank, we have more information about them because we have been working with state companies for a long time. Our charges are usually lower than those of foreign-funded banks.
