The RMB Exchange Rate Will Reach A New High &Nbsp; Wang Jin: The Future Of Textile And Clothing Exports Will Continue To Grow Rapidly.

17, the data released by China foreign exchange trading center showed that

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Wang pointed out that since the reform of the exchange rate, the appreciation rate of RMB has been faster and faster, but at the same time textile exports have also maintained rapid growth. This gives people the impression that Chinese enterprises seem to have no response to exchange rate changes.

In fact, we can see the reason through careful analysis. One is the "virtual growth" of the US dollar denominated export brought by the appreciation of the renminbi. The contribution rate of the "11th Five-Year" period is as high as 43.29%. The two is that the export enterprises are able to digest their exchange rate by increasing their productivity and compressing their profit margins; three, some of them are directly pferred to the rising prices of export products.

Therefore, it is not surprising that exports can still maintain rapid growth.

Wang predicted that during the "11th Five-Year" period, the average annual compound growth rate of China's textile exports was only 6.65%, which was significantly slower than that of "fifteen".

During the "12th Five-Year" period, the industry generally expected that the yuan will continue to appreciate at an annual rate of 3%-5%. According to the first textile net, the average annual growth rate of textile exports in 12th Five-Year will further drop to about 3% after the effect of shaving off exchange rate.