RMB Exchange Rate 9 Days 8 Trading Limit, Over Half Of The Clothing Companies Reported Losses

It's trading again! Yesterday,

It reported 6.2447, which is nearly eighth trading days since the RMB traded against the US dollar for eighth times.

In the case of continuous RMB trading, the export industry has become one of the most "uncomfortable" industries.

"There are many stores in the market now.

They are no longer Made in China, China.

It has been shown to be squeezed. "

Lu Zheng commissar, chief economist of Industrial Bank, said that because of the rising cost of labor, China's exporters who are mainly manufacturing industries are out of breath, and the constant appreciation of the RMB exchange rate makes the industry face challenges.

Chen Jing, an analyst at Bank of China, said that the RMB exchange rate continued to rise and the cost of its exports increased significantly, making Chinese enterprises less competitive in the same international business.

At present, China's exporters still rely mainly on labour intensive manufacturing.

Products and other industries are among the best in export products.

Data statistics show that RMB appreciation is 1% per cent, and the profits of textile foreign trade enterprises are down by 1% to 4%.

If the cost can not be reduced, the profits of the enterprises will be quickly suppressed.

In the first half of this year, there were 41 textiles.

In the listed companies, 25 foreign exchange earnings were negative, and some enterprises reported losses exceeding one million yuan.

Lu commissar said that not only China's own processing trade industry has declined, even foreign direct investment (FDI) has been reduced, and the international high-tech spillover is reduced, China will fear "Income Trap".

Therefore, China must realize the pformation of the mode of economic development and change the state that the low-end processing industry no longer has the advantages, but the advanced technology can not do it.

Lu commissar believes that the only way to save China's economy is to strengthen it.

Flexibility, that is, continue to gradually expand the floating range of exchange rate, the RMB will be able to deal with the future exchange rate changes again.

However, many experts also believe that the appreciation of the RMB exchange rate is short-term.

Li Wei, an economist at Standard Chartered Bank, said that the yuan did not support the momentum of continued appreciation on the economic fundamentals.

After the US launched the QE3, the dollar depreciated and the renminbi appreciated. Many of the individuals and companies holding the US dollar would adjust their foreign exchange ratio, which magnified the space for the appreciation of the renminbi. After the adjustment, the renminbi will probably return to normal.