"We now only € received $ orders, orders will not be received. "2 June, Jiangsu Nanjing family gardens and other electrical goods export enterprises, Mr. LEE, Deputy Chief, told the international financial newsletterâ reporter, the devaluation of the euro is very powerful, the enterprise now did not dare take the euro orders for" now found more than the US dollar, the euro does not rely on the spectrum, had to stare at US dollar. "Mr. Lee said that although they now most of the export orders are from Europe, but all require a dollar.
Euro depreciation caused panic in foreign trade
2 June, to press deadline, the EUR/USD 1: 8.3706, also continued to decline. Just a half-year, EUR/USD exchange rate had a free fall, compromise "10" mark, so broken "fengjuancanyun 9", now have a Yu Yong of riding, has launched a wave breaking "8". Recently, due to the influence of European debt crisis, the depreciation of the euro has already reached 15%, which caused a lot of domestic foreign trade enterprise of hysteria.
"We used to export a value of € 100 million, resulting in loss of products, which makes our firm a dollar. "Mr. Lee said, while the depreciation of the dollar was not stable, but found that the euro is more unstable. According to the present situation, since the European debt crisis, the European economic recovery will be more difficult, this may significantly affect trade in Europe in the second half of the year.
Mr. leather Shanghai Shang told reporters that since the end of last year signed a few euros order, now really some pain in the neck. "This year's export earnings of the United States, also fill the deficit of the European context. ”
Appreciation of the renminbi is expected to exacerbate the
"Euro depreciation is also not the only factors of bad, and now, another crisis expected from RMB appreciation. "Mr. Lee said that at present the company exports more than last year, reached 7000 million, however the profit is in sharp decline," no more than last year. ”
"This two-day there is a steady stream of orders in the second half, however, it is estimated that there will be a more substantial decline. "Mr. Lee said, now the company exports appears to be" very popular ", does not seem to be affected by the financial crisis, but in fact, a substantial increase in orders did not bring profit. He said that the reason for this, on the one hand, the European customers in the first half of the year there was a strong expectation that the appreciation of the Renminbi, the order will be concentrated in the first half of the year; on the other hand, because of the substantial undercutting resulted in order to increase the profits of enterprises, instead of a strange phenomenon.
"The appreciation of the renminbi is a fatal blow to foreign trade. "Shanghai de Chairman: Gu Xin Yi, expressed the appreciation of the Renminbi overseas now on devaluation phenomenon is serious, if you do not maintain currency stability and profitability of enterprises will be very confused.
Or a drag on economic growth in China
At present, China's exports to the EU's main products include electrical and electronic products, textiles, clothing, shoes, etc, of which the export of electromechanical products accounted for about half of product sales, the depreciation of the euro, will cause some of these exports, the export of products within a short period of time to become more "expensive", significantly reducing the competitiveness of Chinese products.
"In fact, Chinese products in the EU's share is relatively high, makes these countries on Chinese products have a certain dependence, short term use other product mass substitution is not reality. "Business flow Productivity Center analyst song Liang said, a substantial devaluation against the euro does not have to be overly pessimistic.
Song Liang said, China is in a transition period, external pressure, helps to speed up the pace of domestic industry. The worst is that because EU economic downturn, unemployment rate reached a maximum of 12 years, even though the euro is not devalued, overall spending power also fallen, affected not only the Chinese enterprises.
Cannot be ignored is that the EU is China's major export market, China trade size of 16%. Affected by rising prices, consumption growth slowed, if long-term export situation cannot be reversed, China's economic growth may slow down.
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