50% Export Shoe Enterprises Bear The Bottom Line Of RMB Appreciation 2%.

Central University of Finance and Economics's China Banking Research Center released a research report today, which shows that less than 30% of export enterprises can tolerate more than 4% yuan appreciation.

The report aims to study the impact of RMB appreciation on export enterprises. The report has divided the RMB appreciation rate that the exporters can tolerate into five grades, that is, less than 2%, 2%-4%, 4%-5%, 5%-6% and 6%, while the magnitude of RMB appreciation that export enterprises can tolerate is mainly concentrated in 2% (below 2%). Some enterprises (707) account for 39.7% of the total sample size, followed by 2%-4% (602, 33.8%), and less than 30% of export enterprises can tolerate RMB appreciation by more than 4%.

Among them, textile, clothing, shoes and hat manufacturing industry can tolerate RMB appreciation rate of 2% (including 2%) up to 44.5%, while the number of enterprises that can tolerate more than 6% is zero.

The RMB appreciation rate will accelerate in 08 years. The appreciation of RMB against the US dollar in the first three months has exceeded 4%. It is foreseeable that the export pressure of small and medium-sized export enterprises will be greater in 08 years.

With the rapid appreciation of RMB and tight domestic credit, although the total export volume of China has maintained a rapid growth in 07 years, with the cumulative effect of RMB appreciation and the deterioration of external international environment, most export enterprises have low profit margins in 07 years, while the growth rate of profit margins is also at a low level.

From the 05 year's reform to the present, the total appreciation of the RMB against the US dollar has reached 16.5%, while the euro has been devalued for 07 years. But with the trade protection from the European Union and the slowdown of the EU regional economic growth, it is possible to predict that the depreciation of the RMB against the euro in the 08 years will be reversed.

Under the background of rapid appreciation of RMB and deterioration of external environment, Chinese export enterprises will face enormous challenges.

According to the survey, it is found that nearly 57% of the small and medium export enterprises are concentrated in the post tax profit margin within 5%, the profit rate is 28% in 5%-10%, and the 10%-15% is only 9.57%, and only 5.45% is higher than 15%, especially in the labor intensive manufacturing industries, such as textile, clothing, shoes and hats, and 84.07% export enterprise theory is within 5%.

Under the tight credit background, it is difficult for small and medium-sized export enterprises to integrate all the funds needed from the financial institutions to the production, which restricts the expansion of their production. At the same time, the interest rate increase has already put a lot of pressure on the repayment of principal and interest.

The rapid appreciation of RMB has aggravated the pressure of export.

As the bargaining power of export enterprises is weak, the rise of exchange losses can hardly be pferred by raising the export prices of products.

In addition, most enterprises adopt contract production, and export enterprises also face exchange rate risk caused by the rapid appreciation of RMB.

Under the background of internal and external troubles and the low added value and technology content of Chinese export enterprises, most export enterprises still have a positive attitude to deal with, namely, by improving technology and labor productivity, establishing their own brands to expand the international market space.

At the same time, policy support is not enough. At this stage, Chinese export enterprises are still not strong enough, and the ability to resist risks is still weak.

And a very important condition for the expansion of enterprise scale is the need for a good external environment. Most of the export enterprises hope to get more policy support.

Export enterprises play an irreplaceable role in digesting domestic excess capacity and absorbing domestic surplus labor force.

At the same time, many manufacturing industries such as agricultural and sideline products and textile, shoes, caps and other manufacturing industries have strong linkage effects on agricultural development.

Therefore, at the present stage, export enterprises, especially labor-intensive export enterprises, still need to be protected. In the face of the increase of land prices and related costs in the eastern coastal areas, policies for the pfer of these small and medium-sized export enterprises to backward areas in the mainland can be implemented.