How Should Foreign Trade Enterprises Cope With The Fluctuation Of RMB Exchange Rate?

< p > in the continuous appreciation of the high song, the RMB exchange rate has taken a "slide" after the Spring Festival this year, and the RMB has depreciated rapidly against the US dollar. Recently, the central bank announced that the floating exchange rate of RMB against the US dollar will be expanded from 1% to 2%, and the uncertain impact of the fluctuation of foreign exchange rate on foreign trade has attracted more and more attention. < /p >
< p > < strong > 1 "small cliff" breaks the unilateral trend < /strong > < /p >.
< p > statistics show that in the first quarter of this year, the spot exchange rate against the US dollar slipped from 6.0539 at the end of last year to 6.2180, down 1641 basis points, and the depreciation rate reached 2.64%, which almost ate the 2.9% appreciation rate of RMB spot exchange rate in 2013. < /p >
"P >" RMB remittance has nearly 9 years, in addition to a few stages of maintaining a sideway or slightly devaluation, it is a one-way upward "small step", appreciation accounted for most of the time. A customs officer at the Yiwu Customs said, but when people seemed to be accustomed to appreciation, the volatility of the yuan has obviously increased the intensity of the shock since entering the horse year. < /p >
Many people are surprised by the "small cliff" in the P curve. But some experts pointed out that perhaps this is an important node, marking the continued unilateral appreciation of the Renminbi for several years to rest temporarily, the two-way fluctuating "shock market" has emerged. < /p >
"P >" in fact, the two-way fluctuation of RMB has been said, but most of it was oral, and this is really seen, which naturally causes shocks. The increase in the RMB exchange rate will definitely have a greater impact on the import and export trade, and businesses will not pay enough attention to it. " A business owner who has been exporting for a long time said. < /p >
< p > < strong > 2 < a href= "http://www.91se91.com/news/index_cj.asp" _fcksavedurl= "http://www.91se91.com/news/index_cj.asp" > exchange rate fluctuation < /a > aggravating the influence of geometry < /strong > /p >
The impact of RMB P depreciation on the depreciation of RMB, the related personage said, the purchasing power of domestic individual investors and outbound tourist shoppers will be slightly weakened. The biggest impact is real estate in the first tier cities, followed by the stock market. Devaluation will have different effects on the export enterprise. For overseas investment enterprises, the investment ability will be weakened due to the depreciation of the RMB. However, for domestic export enterprises, the depreciation of the renminbi can make their products and services more advantageous in the international market. < /p >
< p > "the problem is that the exchange rate does not go one side, but the two-way fluctuation increases, so that for enterprises, the uncertain factors increase and it is not easy to grasp. Upward or downward, the scope is large, difficult to predict, which will bring risks to foreign exchange settlement. Li Xinglin, chairman of Dachen shirt industry Co., Ltd., said that their companies usually collect foreign currency in 3 or 6 months. How to price them? Their products are exported to more than 10 countries and regions, basically the US dollar settlement. Nowadays, many enterprises adopt the "lock in" method, but this is not easy to do. You lock the RMB to the US dollar "6.15", the result is 3 months after the exchange rate is "6.25", or "6.05", or lose or earn, there is a little "bet" to taste the taste of luck. < /p >
< p > a customs officer in Yiwu Customs said that it was estimated that every 1% appreciation of the renminbi, the operating profit of the cotton textile industry will drop by about 12%, the wool textile industry will drop by about 8%, and the garment industry will drop by about 13%. "As long as exchange rate fluctuations increase, enterprises will have an impact. Yiwu's exports are mostly labor-intensive industries with low added value and poor bargaining power, such as textiles and clothing, plastic products, and the impact of RMB exchange rate fluctuations is even more prominent. < /p >
< p > < strong > 3, strengthen "< a href=" http://www.91se91.com/news/index_cj.asp "_fcksavedurl=" http://www.91se91.com/news/index_cj.asp "> wind control consciousness < /a >" risk avoidance Kungfu "/strong > /p >
< p > Li Xinglin said that the annual export volume of Dachen shirt industry Co., Ltd. is about 100 million yuan, so how to control risks under the situation of increasing exchange rate fluctuations is a topic that needs to be considered and dealt with. < /p >
< p > experts believe that China's economic growth has continued to slow down and the currency depreciation is reasonable. By devaluation, the pressure of export enterprises can be reduced and the economic recovery can be stimulated. But at the same time, the cost is obvious. For the normal operation of foreign trade enterprises, the fluctuating exchange rate has increased the uncertainty of the cost of capital. < /p >
< p > < < a href= "http://www.91se91.com/news/index_cj.asp" _fcksavedurl= "http://www.91se91.com/news/index_cj.asp" > RMB < /a > the effect of increasing exchange rate fluctuation on enterprises is sure to exist. Enterprises should try to minimize and defuse risks. " "Pan Long knitting" is responsible for financial affairs, pan manager said that their business exports $about 19000000 a year. In operation, different methods will be adopted according to different customers. If you order $500 thousand socks for each 2 dollar socks, the delivery date is 3 months or more, the deposit is 20%, 30% or 50%, and so on. Of course, we must consider the risk of exchange rate fluctuation, which is the most economical way to deal with foreign investors. If the other party is willing to pay RMB in accordance with us dollars, it will be calculated at the rate of exchange. If customers do not want it, then we must go back to the price and continue to talk about it. Considering the exchange rate risk, the price of socks can be 2.1 or 2.2 dollars. < /p >
"P >" in the past actual operation, foreign trade enterprises have their own way of operation. But now that the RMB has reached a two-way fluctuation stage, the situation will be more complicated. Therefore, enterprises, including banks, should further enhance their awareness of locking risks and better use hedging tools. A bank personage said that in addition to the tools such as hedging, the assets and liabilities of export enterprises need to be adjusted accordingly. When RMB appreciated unilaterally, many enterprises valued the mode of "asset localization and debt denominated currency" from a financial point of view, but the two-way fluctuation of the people's currency would pose a greater challenge to the financial management of enterprises. < /p >
"P >" in fact, many of our foreign trade enterprises have not really found a good way to deal with exchange rate changes. But the situation is changing and enterprises must change their contingency. According to people concerned, large enterprises such as general motors and Disney have established a sound foreign exchange risk management mechanism at a higher level, hedging risk by means of exchange swap and exchange trading, and no longer being led by exchange rate fluctuations. Of course, our enterprises in Yiwu can not do this at present, but the awareness of wind control should be there. In the face of the new situation, we should attach importance to the introduction and cultivation of talents in this field. At present, we must use existing resources and conditions to establish a fight against the current exchange rate changes to fight Kung Fu. < /p >
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