Shoe Companies Should Push High Value-Added Products To Deal With RMB Appreciation
From China
foreign exchange
According to the latest data from the trading center, the central parity of RMB against the US dollar in September 17th was 6.7172, which was 9 basis points higher than the previous trading day.
This is the sixth record high since the central parity of RMB against the US dollar.
Recently, there was an appreciation of the renminbi.
Export enterprises
Research Report on the impact.
The total sample size is 1900, involving export enterprises in more than 10 provinces and municipalities.
The report shows that most export enterprises can tolerate RMB appreciation rate of less than 2%, which accounts for 39.7% of the total sample size. In turn, enterprises that can tolerate RMB appreciation of 2%-4% account for 33.8%, and enterprises that suffer from 4%-5% appreciation account for 19.1%, while those who suffer from 5%-6% appreciation account for 4.95%, while those who tolerate 6% or more are only 2.42%.
It can be seen that more than 7 of the export enterprises can bear it.
Appreciation rate
Below 4%.
In addition, the report also shows that nearly 57% of small and medium-sized export enterprises have a profit margin of less than 5%, 28% of profits and 28% of 5%-10%, only 5.45% of 10%-15%.
It is not hard to see that the profit margins of small and medium-sized export enterprises in China are not high, especially in the labor-intensive manufacturing industries such as textiles, clothing, shoes and hats. 84.07% of the export enterprises have a profit margin of less than 5%.
Obviously, this requires our export enterprises to do more high value-added and technological products, from labor intensive to capital intensive, and improve core competitiveness, so as to minimize losses.
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