What Are The Advantages Of The RMB Exchange Rate Decline For Shaoxing'S Export Enterprises?

After the Spring Festival, the RMB exchange rate fell for P, which seems to be a positive benefit for Shaoxing enterprises who want to export revenue.

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< p > but the situation is not so simple. In recent years, China's labor costs have risen, and the US and European Union have accelerated the pfer of manufacturing to countries such as India and ASEAN. In addition, the United States and the European Union have adopted a number of trade protection measures to make China's international trade frictions escalate, and the difficulty of export of Chinese enterprises has increased further, which has increased the competitive pressure of export competition.

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"P >" then, in this double background, how can the decline of RMB exchange rate be good for Shaoxing enterprises? When journalists interview some of the a target= "_blank" href= "//www.sjfzxm.com/", "textile /a > a target=" _blank href= "http:/" > clothing "" in Shaoxing, most enterprises say that although the better situation for the enterprises is the stability of the exchange rate, the small fluctuation of the RMB exchange rate is no longer the most important factor affecting the export, and the order is the most important.

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< p > < strong > export profits of enterprises have increased, < /strong > /p >

< p > when international investment banks have released reports that the RMB will break 6 against the US dollar this year, since 2014, the RMB has changed its unilateral appreciation.

According to the reporter's rough statistics, from the past two months, the exchange rate of banks has changed from 606.46 yuan to 100 US dollars to 614.93 yuan to 100 US dollars, that is to say, the same 10 thousand US dollars, at the beginning of the year, it can be changed by more than 847 yuan.

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< p > from the conventional view, the fall of the RMB exchange rate should bring good benefits to Shaoxing textile and garment export enterprises.

Statistics from Keqiao District Commerce Bureau show that in January this year, Keqiao's foreign trade volume reached 1 billion 80 million US dollars, an increase of 11.55% over the same period last year, which is 0.45 percentage points higher than the average level of the whole province.

In order to help enterprises develop the international market, at the beginning of the new year, the Keqiao District Commerce Bureau screened 20 overseas exhibitions and recommended them to foreign trade enterprises.

According to reports, the 20 overseas exhibitions are mostly in the United States and Russia. There are also BRICs in Brazil and South Africa, and more in the emerging markets such as Panama and Latin American countries.

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< p > Keqiao District Commerce Bureau official pointed out that the export of products and raw materials in the procurement of domestic enterprises, especially for export dependent Shaoxing textile and garment industry, the depreciation of the RMB can play a stabilizing role.

But for foreign trade enterprises, more is the stability of the RMB exchange rate.

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< p > "the fall of the RMB against the US dollar is certainly a good thing for us exporting foreign trade enterprises settled in US dollars".

Qian Shiming, chief executive of Shaoxing Mini silk import and Export Co., Ltd., told reporters that over the years, the appreciation of the RMB has become one of the pressures on the textile enterprises to make profits. Basically, they rely on export rebates to maintain some profits. Last year, the yuan rose by 3%. Their trade volume of about 10000000 dollars a year was about 300000 yuan because of the appreciation of the renminbi.

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< p > reporters learned that in 2013, the central parity of RMB against the US dollar continued to rise and its total 41 new highs.

According to the latest data from the Bank of International Settlements (BIS), the effective exchange rate and nominal effective exchange rate of the RMB both appreciated by 7.9% and 7.2% respectively, and the appreciation rate increased significantly compared with 2.2% and 1.7% in 2012. The data of the people's Bank of China show that in 2013, the annual appreciation rate of RMB was 3%, which was 3 times the appreciation in 2012.

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< p > Qian Shiming told reporters that fortunately, the central parity of the RMB against the US dollar began to decline all the way from the new high since January, when it reached the 14 level of the exchange rate reform. From the beginning of the year to now, the depreciation rate of the RMB has exceeded 1.5%.

If a company has a monthly settlement of 1 million US dollars, it can make a profit of 15 thousand yuan directly, but it has little profit compared with exchange rate loss.

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Order < p > strong > order is the top priority. < /strong > < /p >

< p > > in the interview, < a href= "//www.sjfzxm.com/news/index_p.asp" > Shaoxing < /a > many textile enterprises operators said that in recent years, enterprises did feel the pressure of RMB appreciation, but this year the pressure has become less prominent. Moreover, the small fluctuation of the RMB exchange rate is no longer the most important factor affecting exports. Now the burden of enterprises mainly comes from two aspects: international market order pfer and production cost increase.

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Tao Yong, sales manager of a clothing export enterprise in Qian Qing town of Keqiao District, told reporters that the RMB exchange rate continued to fall after the Spring Festival. Although profits could be increased when the settlement was made, it could not fundamentally change the unfavorable situation of China's textile and garment export market. P

The decline of the RMB exchange rate and the depreciation of the RMB have little effect on the operating efficiency of the export enterprises. The key is that the enterprises must have orders.

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< p > Tao Yong believes that in the short term, the depreciation of the RMB and the appreciation of the US dollar may increase the company's profits.

However, the United States, the European Union and other Chinese commodities have adopted a number of trade protection measures, making the international trade frictions escalating, and the difficulty of Chinese enterprises' exports is further increased.

In addition, the rising labor costs and accelerating the pfer of manufacturing to ASEAN and other countries have also increased the pressure of product export competition.

In recent years, as China's domestic labor costs continue to rise, countries such as Europe and the United States are importing textiles to countries such as India, Philippines, Vietnam and other countries with relatively low cost. Enterprises can not get enough orders, so that part of the profits gained by RMB devaluation will soon be lost with reduced orders.

Each time the price is negotiated, the appreciation of the renminbi is controlled between 3%~5%, but the budget is high, for fear that orders will "fly" and go down, and then they may lose money. Therefore, whether the RMB exchange rate is appreciated or depreciated is not a good thing. What the enterprises are looking forward to is that the exchange rate can be stabilized in the future.

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< p > in fact, under the influence of multiple factors such as cost pressure, RMB appreciation and weakness in European and American markets, when foreign exchange movements are more frequent, foreign businessmen tend to take a wait-and-see attitude, do not rush to place orders, and reduce the possibility of SLR in the short term, which has brought enormous pressure to Shaoxing's foreign trade export.

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< p > strong > exchange rate risk should not be underestimated < /strong > < /p >.

< p > Qian Shiming, who is attending the "2014 thirteenth China (Shanghai) Textile Accessories Expo" in Shanghai, told reporters that orders from the European market have declined from the situation of the enterprises receiving orders at the fair.

The bargaining power of enterprises has been weakened, and more discounts must be allowed to ensure sales volume.

At present, the list of enterprises is answered a few months ago, and the price is priced at the prevailing exchange rate. If the RMB continues to depreciate, it will be beneficial to the settlement of foreign exchange. However, there is great uncertainty in the future direction of the RMB. Now, when the order is settled, it is still uncertain whether the exchange rate will rise or fall, so they can only observe it at the moment.

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< p > Keqiao District Commerce Bureau official said that the RMB appreciation will certainly bring benefits to the enterprises, but at the same time, it will bring new obstacles to enterprises.

If many export enterprises quote and sign contracts for foreign investors, they will take full account of the appreciation of the renminbi and the price control is quite good.

But now that the RMB exchange rate has suddenly changed dramatically, foreign investors may ask for a requote. Many enterprises can not judge the future exchange rate trend, and the risk should not be underestimated.

Therefore, the sharp rise and fall of the renminbi are unfavorable to the export enterprises, and the stable exchange rate is the most ideal.

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"Miss P", Miss Xu of the International Bank of China (601988), said that the depreciation of the renminbi must be reconsidered when it is time for foreign exchange to be settled or hedging.

The rapid devaluation of the renminbi has spread to many export enterprises in Shaoxing, especially those that want to arbitrage.

So before, because of the low cost of financing US dollars abroad, many export companies choose to use foreign capital to convert US dollars into Renminbi, which may bring losses to these enterprises.

At present, the uncertainty of RMB exchange rate is increasing. The financial operation of enterprises should be how to avoid exchange rate risk, not how to arbitrage. This fall may provide a good opportunity for enterprises to lock prices.

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< p > in the current and future period, the international and domestic economic situation is complex and changeable, and the fluctuation of < a href= "//www.sjfzxm.com/news/index_cj.asp" > RMB < /a > will also become more frequent.

How to deal with it calmly becomes a difficult problem for enterprises.

Insiders say that through the use of RMB cross-border settlement, the exchange risk can be effectively reduced, the operation procedures can be simplified and the financial cost saved, but the premise is that foreign businessmen must be persuaded to accept the renminbi.

At the same time, we can also pay attention to signing skills.

If the customer is not very receptivity to the RMB, the third party currency with relatively stable exchange rate can be settled, such as Hong Kong dollars or Singapore dollars, to replace the main body of the contract and let the renminbi go around.

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