RMB Exchange Rate Frustrated Export Of Shoe Enterprises (2)

2010/6/18 11:50:00 39

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RMB Exchange Rate Shoe Enterprises

The real exchange rate of RMB continued to rise in March.

The latest data released by the BIS show that in May, the real effective exchange rate index of the RMB was 119.99, a sharp rise of 3.37% in the annulus.

The effective exchange rate of RMB has risen even in March.

However, HSBC's research report says that the nominal exchange rate of the renminbi will not change for the rest of the year, and it is expected that the renminbi will only rise again in 2011, with a cumulative increase of 4% next year.

Analyst

Although Spain and Portugal have taken steps to reduce budget deficits and ease Europe's more serious debt crisis, the market is also worried that cutting government spending will lead to a sharp decline in GDP growth.

In addition, if the 750 billion euro aid plan can be successfully implemented, it is essentially a solution to monetization of fiscal problems, which will push up long-term inflation expectations and the euro will still fall.

Because Europe is China's main export area, the appreciation of the euro will have an adverse impact on China's exports.

Unidirectional exit

European shoe making

Enterprises are under attack

For enterprises that only export to Europe without importing from Europe, they are subject to

Euro

The impact of devaluation is relatively large.

In the interview with our reporter, Lin Cai Lang, director of business promotion at Anlong fairytale world (Hongkong) Limited, the largest children's footwear enterprise in Hongkong, said that exports to Europe are not clear now, especially in the euro area.

"The industry thought that the EU anti-dumping duties on Chinese shoes would be terminated. It was not thought that the EU would continue to extend the anti-dumping duty of 16.5%, and that the prices of Chinese manufacturing enterprises were rising due to rising costs and the depreciation of the euro. These factors combined to make it difficult for EU buyers to raise their retail prices.

For example, in France, a pair of shoes that only sold 8 euros last year doubled over the past year, and the rapid rise in prices made it impossible for consumers to accept them easily.

In order to reduce procurement costs, some European customers pfer orders to Vietnam and other countries.

Lin Cai long said.

Xiaobian's words: for some Chinese clothing, shoes and other enterprises, while Europe's economy is weak, they are eager to buy European brands or agency brands to expand domestic sales. Lin Cai long said that there is no such plan for the time being. European children's shoes have certain differences in size, color, price and other aspects of China's local market. Buying and buying needs to spend time with the local market, so it's better to develop their own brands.