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RMB Appreciation Fierce Chengdu Shoe Enterprises Strike And Withdraw

2011/6/21 9:24:00 78

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Data released by China Foreign Exchange Trading Center yesterday showed that the central parity of RMB against the US dollar was 6.4696, and the exchange rate changed to a new high since then.

Since the central bank resumed its reform in June 19th last year, the RMB has appreciated more than 5.5% against the US dollar in the past 1 years.

Chengdu

Customs data released yesterday showed that the export volume of clothing and footwear in Sichuan had a negative growth in the first 5 months of this year.

Analysis of the industry, affected by the appreciation of the renminbi, the Chengdu shoe factory closed nearly 10% this year, border trade (mainly in Russia) orders sharply reduced by 50%.

Impact one: medium and small

A shoe factory

Nearly 10%

"The appreciation of the renminbi has great impact on the labor-intensive export enterprises in Sichuan, such as textile and footwear industries."

Sichuan

Provincial commerce department foreign trade department responsible person said.

According to the statistics released recently by Chengdu customs, the export volume of Sichuan's clothing and shoes and shoes had a negative growth from 1 to May this year. Sichuan exported shoes and boots 250 million dollars, down 9.7%; export garments and accessories 380 million dollars, a sharp decrease of 58.6%.

"This year, the Chengdu shoe industry border trade order has dropped by 50%. As far as I know, in 1 years, the small shoe factory has fallen nearly 10%."

The relevant person in charge of Wuhou Branch of Chengdu Dan Lu shoes industry Co., Ltd. said that the Chengdu shoe factory mainly used RMB and US dollar as settlement currency. In the past 1 years, in order to avoid the risk brought by RMB appreciation, Chengdu shoe factories often settled at the exchange rate at the date of signing the order.

Although this approach helps to pfer the risk of RMB appreciation to customers, it also directly reduces the order quantity of customers.

"In the border trade (Russia), for example, it is now the main order of the next winter, 50 thousand pairs of the previous order, but now the appreciation of the RMB is expected to be very high, the customer directly to reduce the order to 20 thousand pairs."

Impact two: outbound travel increased by 30%

RMB appreciation is also advantageous, and for the outbound tourists, the appreciation of the renminbi is undoubtedly a good thing.

"Over the past 1 years, Chengdu has outbound 30% of its outbound travel."

Cypress Chengdu company responsible person laughed, said that the RMB to get more valuable foreign flowers, will undoubtedly greatly promote the enthusiasm of Chengdu consumers outbound travel.

For example, she said, last year, the price of the regular regiment to Europe 12 to 15 days was around 13 thousand yuan. With the appreciation of the renminbi, the current price is 11 thousand yuan, which is 1000 yuan cheaper.

"More than half of Chengdu's outbound tourism goes to Europe, and the appreciation of the renminbi also promotes the purchasing power of these consumers in Europe."