The exchange (chess) The exchange (chess) The exchange in chess refers to a situation in which one player loses a minor piece (i.e. a bishop or knight) but captures the opponent's rook. The side which wins the rook is said to have "won the exchange", while the other player has "lost the exchange", since the rook is usually more valuable. Alternatively, the side that has won the rook is "up the exchange", and the other player is "down the exchange". The opposing captures often happen on consecutive moves, although this is not strictly necessary. It is generally detrimental to lose the exchange, although
Chess in China by 30% each year. Fortunately for the Chinese Chess Association, in 1993, it received an endowment fund from Singapore businessman S T Lee who donated about US $1.5 million. 10% of this donation was for the establishment of the chess library at China QiYuan. The remaining 90% were deposited in a fixed account from which the Chinese Chess Association drew interest mainly for its administrative operations and to send players for overseas competitions. In 1997, the Chinese Chess Association founded a computer company to fund its other activities on an annual basis. Decision making is done collectively and any final