From The Beijing Pound To See The RMB Exchange Rate &Nbsp; Chinese Buyers Shocked The World.

With the rapid rise of overseas shoppers and consumption power, "Chinese buyers" have a reputation in the world.

It has been reported that Chinese tourists spend 1 billion pounds on the luxury sale in the British discount sale season in 2010. Because of the strong consumption ability of Chinese customers, the British media has created a new term based on the concept of "Sterling".

As of press release, the China UnionPay has not yet released the relevant data on overseas credit cards for the Spring Festival this year.

This can be seen from the statistics of the overseas credit card statistics of the 7 days of the Spring Festival of China UnionPay in recent years, and the amount of overseas pactions of UnionPay cards has increased by nearly 80% over the past Spring Festival last year.

Surging data and offshore

Just before the Spring Festival, the reporter had the honor to go to Tokyo, Japan.

In a few days, the most profound influence on journalists is not the exotic customs, but the surging Chinese crowd and the "frenzied" domestic shoppers.

On Ginza street, from time to time, people who hear accents from all over the north and South are surrounded by big bags. They are very happy about the shopping items. Almost all the shops in the main commercial areas of Tokyo are marked with UnionPay cards.

The tour guide told reporters that in order to make Chinese tourists pay more smoothly, the number of Chinese salesmen hired by the store is increasing day by day.

There are many large bags and Chinese everywhere.

In a small drug Bureau in Shinjuku, the reporter just picked up a piece of cosmetics and did not look carefully. Next to it, an elderly and eager female voice cut in: "this thing Ling Ling cut" immediately let reporters produce the illusion of time and space between Shanghai and Tokyo.

In his spare time, the guide plated a TV news for reporters.

In order to attract more Chinese tourists to spend their holidays in Japan, Kyoto government began to integrate more than 1000 franchisee in the region from 2011 to introduce the China UnionPay card settlement mechanism.

"KICS" credit Clearing Corp decided to integrate the settlement mechanism of 1260 stores under its franchise.

According to the plan of "KICS", it is only a measure to attract Chinese tourists to integrate the union card settlement mechanism of its affiliate companies. At the same time, it also provides Chinese teaching for the joining companies, sending Chinese students to plate services, so as to meet the needs of Chinese tourists.

Chinese tourists naturally failed to disappoint Japanese businesses.

According to the tour guide's data, the average price of Chinese tourists is 40 thousand to 50 thousand yen, which is much higher than that of Japanese.

On the first three days of last Spring Festival, the amount of shopping for Chinese tourists was 2.5 times that of the same period during the Spring Festival.

A Chinese shop assistant from Shinjuku Shinjuku told reporters that Chinese tourists are very generous and can be called the "king of shopping".

The tour guide also revealed a detail that Japan once stipulated that baby food such as milk powder was prohibited from carrying out customs clearance.

The reason is very simple, the Chinese "sweep goods" fiercely, has produced pressure on Japan's domestic.

According to the statistics of the federal commerce department, Chinese tourists spend an average of 7200 dollars per person in the United States, far higher than the average consumption level of 4000 dollars for international tourists.

The strong consumption ability of Chinese tourists has repeatedly shocked the world, so far as cosmetics, handbags, electronic products and local specialties are so large that even real estate mansions have become the target of Chinese tourists' outbound consumption. Even New York Times magazine exclaims "Shop China Shop!" on the cover. "China is pforming to a consumer oriented economy".

The RMB exchange rate behind the Beijing pound

The reason why "Crazy Chinese buyers" is formed is complicated.

Among them, the continued appreciation of the renminbi is an important factor.

The people's Bank of China authorized the China foreign exchange trading center to announce that yesterday's interbank foreign exchange market, such as the US dollar and other trading currencies, had a middle price of RMB exchange rate: 1 US dollars to RMB 6.5850 yuan, and the new high since then.

In February 4th, the US Treasury released the international economic and exchange rate policy report on major trade targets.

The report points out that the appreciation rate of RMB against the US dollar has accelerated in the past few months.

Since China's resumption of RMB exchange rate reform in June last year, the yuan has appreciated 3.7% against the US dollar in January 27th this year. By nominal exchange rate, this appreciation rate is about 6% of the adult rate. In addition, as China's inflation rate is much higher than that of the United States, the appreciation rate of RMB against the US dollar will be even greater.

Of course, it is unscientific and incomplete to explain the surge of overseas shopping craze with the appreciation of the renminbi. It is also necessary to enhance the consumption power of Chinese residents and the hobby of international brands. However, it is an indisputable fact that the continued appreciation of the renminbi makes Chinese buyers stronger.

For ordinary people's life, the appreciation of the renminbi means that studying abroad, traveling, shopping and so on are cheaper.

Affected by the continued decline in the US dollar and the euro, the US dollar and euro zone countries have become popular among Chinese tourists.

Before the Spring Festival holiday this year, many travel agencies in the Yangtze River Delta travel in Europe not only earlier than in previous years, but also by the end of February.

At the same time, compared with the same period two years ago, the appreciation of the renminbi in major currencies such as the euro, the pound and the US dollar has indeed become a factor for many overseas students to consider.

Some agencies predict that the total number of students studying at their own expense this year will increase by 30%, reaching a record 270 thousand, and the total number of overseas students will be close to 300 thousand.

Citic bank analysts said that in recent years, the renminbi has maintained an appreciating trend against major currencies such as the US dollar and the euro. In addition, affected by the international financial crisis, many countries have reduced the cost of studying abroad and relaxed the policy of studying abroad to attract international students. Various factors have combined to stimulate the study market at their own expense, which has objectively promoted the increase in the amount of loans to study abroad.

Continue to appreciate slowly

The central bank again implemented interest rate raising measures in February 8th, and some analysts pointed out that the appreciation of the renminbi may also become part of our government's measures to curb inflation in 2011. The renminbi is expected to further rise after the Spring Festival holiday, and may rise to 5% in the year.

Official data released earlier showed that China's consumer price index (CPI) increased by 4.6% in December compared with the same period last year, although it has been out of the 28 month high in November, but it remains high.

The National Bureau of statistics will announce January CPI in February 11th.

Many agencies predict that China's CPI growth rate in January will be higher than that in November 2010, when CPI grew by 5.1% over the past two years, the fastest growth rate in more than two years.

The official target of inflation control is still around 3%.

In order to block inflation, the central bank raised the deposit reserve rate six times last year, raised the deposit reserve rate again at the beginning of this year, raised interest rates for the first time in the last three years last year, and raised interest rates two times in a row, and raised interest rates again on Tuesday. At the same time, the RMB rose 3.6% after the restart of the foreign exchange reform in June last year.

The deposit reserve rate, interest rate and exchange rate "three rates" have obvious purpose of resisting inflation.

The market almost agreed that our government will continue to raise the reserve requirement ratio of banks and allow RMB appreciation to help reduce import prices and ease domestic inflationary pressures.

Because the appreciation of the renminbi can offset the inflationary pressure brought by the rising global food and international energy and raw material prices.

With the accelerating pace of RMB internationalization, the demand for RMB in the international market has increased sharply.

While mainland China closed on the Chinese mainland market during the Spring Festival, the renminbi in Hongkong and other offshore markets hit a 1 month high against the dollar on Monday.

It is reported that some Chinese companies and overseas companies have bought Renminbi for Hongkong's expectation of RMB initial IPO in March.

Experts predict that in the coming year, the renminbi will have a more significant appreciation against the US dollar to ease international pressure and reduce the threat of protectionism, while curbing domestic inflation and promoting economic restructuring.

Li Daokui, member of the central bank's monetary policy committee, said in public that before the Spring Festival, the exchange rate will continue to move forward in a gradual way in 2011, and the appreciation of the renminbi will be at 5%-6%.