Foreign Trade And Economic Cooperation Bureau: RMB Settlement To Avoid Exchange Rate Risk

Yesterday, the central parity of RMB against the US dollar was quoted at 6.7858 yuan. Since the central bank announced the promotion of RMB exchange rate reform in June 19th, the RMB appreciation has exceeded 0.6%. It is understood that since July 2005, since the reform of RMB exchange rate formation mechanism, the RMB has appreciated slightly. In April 10, 2008, the central parity of RMB against the US dollar "broke 7" and entered the "6 era". This year, the central parity of RMB against the US dollar basically runs in the range of 6.826 to 6.828. In June 22nd, the central bank reiterated the second trading days after the reunification, and the central parity of RMB to the US dollar was 6.7980, breaking the 6.80 mark.

The appreciation of the RMB will undoubtedly weaken the competitiveness of the export enterprises in the international market.

Reporters learned that many Swiss enterprises have taken a number of measures to digest pressure.

Global: the affordability limit is 3%.

The appreciation of the renminbi means a decrease in profits for export enterprises.

"Rubber shoes are less profitable. RMB appreciation."

Insiders said that the appreciation of the renminbi would be a trend. The cumulative appreciation of the RMB against the US dollar would be between 4% and 5%.

"We still have nearly 300 thousand euros without settlement, once the settlement of foreign exchange has lost nearly 600 thousand yuan compared with last year."

Liu Wanbin, chairman of Zhejiang global filter Co., said that at present, the company can withstand the limit of RMB appreciation by around 3%.

"We have been adopting various measures to digest the impact of RMB appreciation internally."

Liu Wanbin said that in recent years, the company has continuously improved technology, energy conservation and consumption reduction, implemented automatic production and reduced labor costs to digest the impact of RMB appreciation.

"The cost of products has hardly been reduced."

Liu Wanbin said the company had to increase its quotations, which would inevitably lead to the loss of orders from some new customers.

"At present, the renminbi is

According to introducing, as early as 2004, the company tried to change the business mode, gradually reduce the share of export wholesale, and establish cooperative relationship with foreign chain stores.

"Chain stores, as the terminal of the market, are relatively low in price sensitivity, which is conducive to the stability of corporate profits."

You Kelong said.

In the same year, the enterprise made adjustments to the development strategy, and began to prepare for the pition to the domestic market and tap new profit points while consolidating the international market.

Foreign trade and Economic Cooperation Bureau: accelerating pformation and upgrading

The relevant person in charge of the Municipal Bureau of foreign trade and economic cooperation said that in the context of RMB appreciation and gradual weakening of price advantage, for export enterprises, it is necessary to speed up pformation and upgrading, increase investment in technological pformation, speed up product upgrading and upgrading, improve product quality and added value, improve bargaining power in the international market, enhance the international competitiveness of products, and make up for the impact of RMB appreciation.

He said that if conditions permit, it is best to adopt RMB settlement to avoid exchange rate risk.