Exchange Rate "Fever" Textile And Garment Export Enterprises "Get Angry"

Since the beginning of the year exchange rate There has been a comprehensive acceleration of appreciation. As of yesterday, the renminbi appreciated by 1.77% against the US dollar, 1.95% against the Hong Kong dollar, 17.5% against the Japanese yen, 2.6% against the euro, and 8.4% against the pound. According to the bank for International Settlements, the real effective exchange rate of RMB has appreciated by more than 4% in the 5 months since December last year. In the case of China's economic slowdown and the growth of the US economy, how does the currency rebound affect China's economy? This reporter first investigated its impact on exports.

　 Many production lines shut down during peak season.

Qin Yuansheng, general manager of Guangzhou overseas Chinese Overseas Company Limited, told reporters that at the spring fair this year, the renminbi was near the US dollar at 6.20, when it signed a contract with foreign merchants at 6.10, but yesterday the exchange rate has risen to 6.11, and it is about to rise at the base price. It is understood that the annual 5~9 month is domestic. shoes The peak period of the export of cap toys and other commodities is the fourth quarter. If the RMB exchange rate appreciated to less than 6.10, the vast majority of domestic enterprises would have to bear the loss of exchange rate.

　　 Profit margins of foreign trade enterprises are thin.

Insiders told reporters that Shoes and Hats Clothes & Accessories In the field, one hundred million of the order, the profit of the order company is only 1.2 million yuan. If the exchange rate is less than 6.1, many enterprises will suffer losses. Generally speaking, each time you receive one hundred thousand yuan, you lose dozens of dollars.

The feedback from the Ministry of Commerce as early as last year is that foreign trade enterprises are still very difficult to operate at present, and profit margins are still very low, about 2%. If RMB appreciation exceeds 2%, then foreign trade enterprises will only lose money.

Yang Wenchu, general manager of the famous electronic component multinational company, American electronics company, said yesterday that the profit of China's manufacturing industry is very low, and the appreciation rate of 4% is enough to swallow up the profits of many manufacturing enterprises.

Our reporter visited a number of enterprises in recent days. The reporter saw that the workers who were supposed to be in the peak season of the shipment did not appear to be working overtime in previous years. Instead, there were many stoppages in the production line on the grounds of overhaul.

Pressure on orders outflow increased

One of the reasons for the low operating rate of many enterprises is the transfer of orders.

It is understood that when the financial crisis, China's enterprises front-line workers monthly salary is less than 2000 yuan, but now more than 3000 yuan is still very difficult to please.

"Workers in Vietnam and other places earn more than one thousand yuan a month, and the exchange rate of the local currency is much lower than that of the renminbi. Some of the sustainable list has been transferred to Southeast Asia. Occasionally come to some small bills, where to find so many emergency workers at once? If you usually have a large number of workers, but can not start, the enterprise is to find death. Song Xubin, chairman of Guangdong Haixing holding group, said.

Song Xubin told reporters yesterday: "some small businesses have long been unable to sustain the closure. Big companies like ours spend more than 50% of their energy in 2008 than they did in the past.

Facing the pressure of RMB appreciation, the most optimistic is probably the household electrical appliance industry. Because the home appliance industry has more complex upstream and downstream supporting equipment production, a large number of skilled workers are not easy to cultivate. Therefore, as a cluster industry, the relocation and reproduction of the household electrical appliance industry can not be quickly realized.

Nevertheless, Donlim power appliance President Liu Liang is not optimistic about the overall performance of the market. He told the newspaper yesterday: "now the market demand is not strong, the overall sales of enterprises have dropped, and the pressure of enterprises has been rising continuously, such as labor costs, exchange rate costs and so on, the business life is very tough."

Expert advice

Research and development efforts are far from enough.

Yang Wenchu thinks manufacturing industry The dividend is efficiency and profitability, and the two is cost reduction. Today, with the rapid development of technology and highly developed information technology, the idea that we can maintain the dividend of China's manufacturing industry and achieve sustainable development without relying on technological progress, without relying on R & D investment and without talent training, is childish in itself.

According to the results of the 2011 global R & D survey released by the EU last year, Japan, the United States and European enterprises accounted for 24, 35 and 29 seats in the world's top 100 R & D investment respectively. The top ranked Chinese company is HUAWEI technology, which is in the forty-first place.

Yang Wenchu said: this ranking is really a big contrast with the total second of China's total economic output. China's manufacturing industry still has a long way to go in the direction of R & D and value-added.

Enterprise response

Four strokes for SMEs

Large enterprises are already actively responding. Yang Wenchu said that the impact of RMB appreciation on China's multinational corporations is limited because multinational companies can circumvent losses and risks to a certain extent through global operation and foreign exchange hedging.

Many foreign companies move abroad

Another way is to move factories out of China. Japan recently joined the local government in Burma to build a 2400 hectares of diam Industrial Park. It is expected that many Japanese electronics manufacturers including Fuji and SHARP will enter the park.

Large scale technical requirements are not large. clothing The industry has shifted the production base to Southeast Asia. For example, Ito's garden will expand the production area of functional underwear from a Chinese country to Thailand, so that the proportion of China's production will drop by 20 percentage points in one year. ASICS also plans to shift the production base of sports shoes from China to Southeast Asia.

According to Japan's Ministry of finance trade statistics, compared with the peak of 2007, the clothing products imported from China decreased by more than 10% in 2011. Meanwhile, imports from ASEAN continued to grow for 8 years in a row.

Guangdong footwear industry Less than 2% of the relocation.

Small and medium-sized enterprises that are difficult to withstand the pressure of RMB appreciation want to transfer factories to Southeast Asia and other places, but this is not easy. Guangdong silk Spin Ke Huiqi, general manager of the Group Limited, told an interview with our reporter yesterday that although he wanted to transfer productivity to overseas, he failed to make it, because the cost of foreign production was cheap, but the whole industry chain still couldn't match domestic perfection.

Qin Yuansheng, general manager of Guangzhou overseas Chinese enterprise, Ltd, a toy manufacturer, told reporters yesterday: "it is difficult for small and medium-sized enterprises to transfer their production to the outside world, because we do not understand foreign languages, nor do we know much about local conditions.

Guangzhou Shoe Industry Association Secretary General Chen told reporters yesterday: Footwear industry in Guangdong The percentage of enterprises that have moved out is less than 2%, and the destination of relocation is Vietnam.

Ke Huiqi said that now only through brand building, raise the price to support, in order to digest the pressure of appreciation.

Qin Yuansheng suggested that the trend of the RMB exchange rate should be given a signal to the enterprises at the end of March each year, so that the enterprise has a bottom to sign contracts with foreign businessmen.

Su Yuhang, Minister of the Donlim electric microwave oven division of the 90% export product, said yesterday in an interview with our reporter: "we are dealing with the appreciation of the exchange rate through four ways. First, raise the price. The price on the order can not be changed. If we deliver the goods only after two months of the order, we will have to bear the loss of RMB appreciation during this period. But next time we sign the bill, we can raise the price, say 3%, to make up for the loss of exchange rate in the past six months. The second way is that we can avoid some losses by buying the fixed exchange rate financing with banks. Of course, this is not entirely reliable. It can only be said that it is lucky to avoid a bit of loss. The third way is to increase imports. The appreciation of the renminbi means that the steel and plastics imported from abroad are relatively cheap. Increase imports, finished products after sale, the cost can be relatively reduced, of course, after the product can be sold smoothly. The fourth is to expand domestic demand. I hope to sell more products in China, but in fact, the domestic market is not ideal. "