6.6830! Friday, the Renminbi against the US dollar exchange rate in the middle price breakthrough 6.7, since new again rewrite the reform record. The most recent exchange rate of RMB stacked high, our margins are being given away to the first half of phagocytosis, one of the few export order already on the verge of losing edge. More than "Ningbo foreign trade enterprises to look worried.
RMB is accelerating appreciation trend
6.6830, this figure means that, since the people's Bank of China announced on June 19, after the restart, just three months, the appreciation of the Renminbi has 2.12%.
"The acceleration of RMB appreciation against the dollar completely contrary to our expectations!" aiyimei import and export co., Ltd. General Manager India heming told reporters that in March of this year, "aiyimei" took a $ 25 million of large orders, when they are expected to increase the appreciation of the RMB years will not be too large, so the Bank will forward exchange rate lock around 6.8. If the RMB exchange rate continued to rise, one percentage point per dollar, the order of exchange losses is more than 100 million Yuan.
City foreign economic and Trade Bureau of the city's top 100 enterprises of exports questionnaire surveys, enterprise reflects foreign trade difficult and unfavourable factors, worries about RMB accounted for a quarter, textile and other labour-intensive exports accounted for a large scale.
Export product price is not much space
In the face of accelerating appreciation of RMB, new check export orders to stop price increases, the problem I was tangled in foreign trade enterprises.
The other day, Cixi a toy company in foreign trade manager Li had just come back from the United States, Las Vegas show. "We participate in a consumer goods fairs gifts, originally wanted to discuss product price increases with the customer, but people just come out of the financial crisis, hoping to purchase some cheap merchandise. "He told reporters, with the exception of a few new products, the company does not have the vast majority of export product price increases.
Furthermore, the appreciation of the Renminbi mean to US dollar-denominated commodities competitiveness weakened. The appreciation of the Renminbi, expressed in US dollars of export prices would increase, this will undermine its price competitiveness. To make foreign currency prices of export products remained unchanged, and only a further decline in prices of products, which cannot fail to export enterprises especially labour-intensive enterprise. The Deputy Secretary for Foreign Trade Bureau explained that a small beach.
Multi-channel defuse the risk of RMB appreciation
RMB devour export enterprises profit, so there is no suitable approaches can reduce losses? industry experts suggest that the city's foreign trade enterprises to use financial tools and trade settlement to resolve Exchange rate risk.
First, use the Bank's foreign exchange forward transactions, foreign currency against the RMB exchange rate hedging operations, etc. To export exchange business as an example, enterprises in the Bank pay a certain fee, in accordance with the value date of the purchase price will be u.s. dollars into RMB. This means that enterprises export exchange rate costs was firmly locked.
Secondly, seizing RMB long-term appreciation trends in financing of USD loan on more options. Bank of China, Ningbo branch of the international settlement of relevant experts to journalists cited an example, this past June a city enterprises to apply for a line of $ 1 million, six-month period of the loan, the interest payments not to 12 million RMB, since exchange gain in June, but has more than 10 million Yuan.
Once again, exporting enterprises can take include signed a short-term contract, implement gradient quotes, consultations with floating rate, to avoid the risk of RMB appreciation. As with a number of broad group relations better long-term cooperation between large customers signed export contract, the provisions by mutual consensus price may vary according to exchange rate fluctuations.
Finally, engaged in shipbuilding and other industries processing trade enterprises, can take advantage of opportunities to increase the appreciation of the Renminbi raw materials, advanced foreign technology and equipment imports, thus offsetting the decline in export earnings.
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