The Renminbi And Yen Trade Has Attracted The Attention Of The Clothing Industry.

In June 1st, China and Shanghai and Tokyo, Japan, the yuan and yen began to trade directly in the foreign exchange market. So far, the yen has become the second currency that can be directly exchanged in our foreign exchange market after the US dollar. Most analysts believe that this will bring more benefits, especially for those Chinese enterprises that have trade with Japan.

Wenzhou Commerce Bureau Foreign Trade Department analysis, yen direct settlement, Foreign trade clothing enterprises Avoiding exchange rate risk has provided convenience. When enterprises quoted prices, they had to estimate the exchange rate between us dollar and yen, and analyze the trend of US dollar exchange rate. In the future, we only need to look directly at the trend of RMB to yen exchange rate, which will directly reduce the risks of both sides.

"This means that once the RMB and yen are exchanged, the exchange fee will be reduced directly." Wu Xiaobin, chairman of Wenzhou Zhongcheng Digital Technology Co., Ltd., said that in the past, if you held Japanese yen to the bank to exchange RMB, you need to convert it into US dollars at the exchange rate of yen and the US dollar, and then convert it into RMB by the exchange rate of US dollar and RMB, which is more than 1% of the exchange cost.

Last year, Japan was the fifth largest trading partner in Wenzhou except the European Union, the United States, ASEAN and Russia. According to Wenzhou customs statistics, in 2011, the import and export volume of Wenzhou to Japan amounted to 756 million US dollars, accounting for 3.5% of the total foreign trade of the whole city, and 819 of Japan's import and export enterprises. Among them, Wenzhou exported 483 million US dollars to Japan, an increase of 32.73% over the same period. The main commodities include digital products, shoes, glasses, bags and so on. Imports from Japan amounted to $273 million, an increase of 24.86% over the same period. The main commodities were plastic, copper and textile machinery.

In Sichuan, some Clothing enterprise In the context of the current euro zone economic downturn and the euro's uncertain future, the Yuan's "direct" yen is more conducive to its expansion of the Japanese market.

According to customs statistics, in 2012 1~4, Sichuan accumulated a total of 512 million 790 thousand US dollars for the sunrise, an increase of 165.1% compared with the same period last year, and Japan has become the fourth largest trading market in Sichuan. Sichuan's exports to Japan are mainly concentrated in the fields of clothing, light industry, steel and so on. Most of these enterprises lack international financial professionals, and the ability to withstand international market risks is relatively weak. The direct settlement of RMB and yen can reduce the exchange rate risk of RMB - US dollar - Japanese yen double settlement, which is beneficial to enterprises' export to Japan and increase of foreign exchange earnings, so as to attract more enterprises, especially small and medium-sized foreign trade companies, to increase their exports to Japan. In addition, enterprises can also seize the current low interest rate in Japan and apply directly to the bank for Japanese yen loans. In this way, we can widen the financing channels and reduce the financial cost, and really incorporate the yen into the settlement currency, and reduce the exchange rate risk caused by the single use of US dollar settlement.

However, in a good voice, analysts also pointed out that the direct trading of RMB and yen is convenient while risks are also increasing, because direct gains are relative to direct losses. At the same time, the size of the yen exchange rate is unclear, and enterprises need to have the ability to control risks.

Similarly, some enterprises in Qingdao are relatively cautious about the direct trade between the renminbi and yen. The head of the news group has told the media that direct transactions can not be implemented in a short time, and related businesses still need to be studied.

Another export enterprise in Qingdao MATTEL home textiles The relevant responsible person also said that the Japanese trade was mostly done in the US dollar settlement currency before signing the contract with the other side. It is possible to avoid trade risks by directly quoted in dollars and settled in dollars. Because the savings in RMB and yen direct transaction fees can not be compared with exchange rate risk, and exchange rate risk should be avoided.