RMB Appreciation Affects Foreign Trade Of China'S Garment And Textile Enterprises

< p > from August this year, the "a href=" http://news.sjfzxm.com/news/list.aspx "Classid=101112107105" > RMB > /a > the spot exchange rate against the US dollar (the spot exchange rate, also known as the current exchange rate), means that the currency traded at the spot market has not changed much, and has been hovering around 6.2.

But after entering October, the exchange rate market suddenly changed, the RMB spot exchange rate continued to "force", and broke through several important juncture of 6.12, 6.11, 6.10 and 6.09, and created 6.0808 new high exchange rate on 24.

According to statistics, the appreciation rate of RMB against the US dollar has exceeded 0.6% since October.

The industry exclaimed, "the 5 era" is not far away.

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< p > < strong > RMB appreciation > /strong > /p >

< p > in the middle price of RMB, the central parity of RMB against the US dollar has also reached a record high for 5 consecutive times in October.

Compared with the beginning of the year, the appreciation of the central parity of RMB has reached 2.4%.

Offshore renminbi also follows the same trajectory of appreciation. In October 24th, the fixed price of US dollar / Renminbi (Hongkong) spot exchange rate was 6.0817, rising 4 consecutive days in a week.

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"P", "the US dollar has entered a weak state after a relatively short period of strength. This is also an important factor leading to the recent rapid RMB a href=" http://news.sjfzxm.com/news/list.aspx Classid=101112107107 "> appreciation < /a >.

Chen Ming, a securities analyst, said that the US's non farm payroll data were much lower than market expectations, leading to a sharp decline in the US dollar index and other currencies to the US dollar, including the yuan.

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< p > data show that after the US released the employment figures, the US dollar then plummeted. The euro hit the highest point since mid November 2011, reaching 1.3792 at the end of the month, and closing at 1.3782 at the end of the month. The pound also raised the intraday high of 1.6212 against the US dollar, and the Australian dollar hit a new high in the past 4 months against the US dollar.

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At the same time, "the unswerving international line is also an important reason for the strong RMB". P

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< p > Chen Ming said.

It is reported that at present, the RMB can be directly traded with 10 currencies, such as Singapore dollar, euro, Japanese yen, pound sterling, Australian dollar, Canadian dollar and Malaysia ringgit.

Since its entry into October, the central bank has renewed the bilateral currency swap agreement with the Bank of Indonesia for 100 billion yuan /175 trillion Indonesian rupee, and signed a bilateral currency swap agreement with the European Central Bank on the scale of 350 billion yuan /450 billion euros.

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< p > in addition, in the third quarter, China's economic data improved and the economic fundamentals continued to improve. This is also one of the factors supporting the recent rise in the RMB exchange rate.

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< p > for this reason, market analysts and economists generally believe that the appreciation of RMB against the US dollar will continue and may even extend to the first quarter of next year.

Ceng Xiaohua, Deputy Secretary General of the Shenzhen import and Export Chamber of Commerce, said more frankly that the RMB exchange rate "broke 6" before the end of the year is not surprising.

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< p > < strong > foreign trade enterprises complain incessantly, < /strong > /p >

The accelerated appreciation of RMB P has become the "dead hole" of China's foreign trade enterprises.

Mr. Li, director of Hualin limited, said that demand for foreign goods has not improved much this year. The rapid appreciation of the renminbi has put pressure on businesses. If we can barely afford to live in the past, we really need to think about the future.

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P, a businessman who has just participated in the 114th Canton Fair, said that the foreign guests of this year's Canton Fair did not feel as well as they did in the past years.

"My company has received about 15% less orders this year than it used to be, and mainly short bills and quick orders."

He said that this would reduce the risks brought by the rapid appreciation of the renminbi and reduce unnecessary losses for enterprises.

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< p > it is understood that the appreciation of RMB has affected the order of enterprises, and the large depreciation of currencies in Philippines, Thailand, India, Brazil and other emerging market countries has also hit China's exports.

At present, clothing, toys and other labor-intensive industries have been pferred to Southeast Asian countries.

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< p > recently, a survey of the survival situation of small and medium sized foreign trade enterprises showed that 20.09% of the more than 1000 small and medium sized foreign trade enterprises in the Pearl River Delta had their orders due to exchange rate fluctuations.

Since 2013, the average amount of orders taken by enterprises has reached 578 thousand US dollars.

78.63% of the owners of small and medium enterprises believe that RMB appreciation has become one of the most important factors affecting foreign trade, especially export.

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< p > Ceng Xiaohua pointed out that in 2008, < a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107108" > financial crisis < /a >, a batch of foreign trade enterprises went bankrupt.

In 2011, a group of foreign trade enterprises moved to low cost areas.

2013 is about to enter the winter. A batch of foreign trade enterprises will spend the winter.

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< p > "RMB appreciation has a great impact on domestic export trade, especially the traditional export trade."

Li Youhuan, director of the comprehensive development research center of Guangdong Provincial Social Sciences, pointed out that "for the high and new technology industry, even if the RMB rises to 5.8 against the US dollar, as long as it appreciates slowly, there will be no big problem in the industry, but for the traditional labor-intensive industries such as shoes, clothing, hardware, furniture and so on, the exchange rate will reach 6, which is the time of life and death."

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