The Inflection Point Of China'S Slowing Export Growth May Have Emerged

Faced with heavy pressure, some foreign trade enterprises could not withstand the pressure and closed their doors. However, some enterprises are looking for various ways to overcome their difficulties, such as raising prices or changing settlement methods. As a Chinese brand household appliance enterprise, Meiling is now striving to strengthen technological innovation, launch a series of high-end products for overseas markets, and enhance the bargaining power of the enterprise by improving the added value of products. Li Daijiang, Vice President of Hefei Meiling Co., Ltd.: Compared with the same period last year, the price of the product has to be raised. Because this cost has risen, the RMB is also appreciating, which must be absorbed by foreign investors. We have raised the price by 20% to 30%. At the same time, Meiling also reduced the use of US dollars for settlement through negotiation with foreign customers, and mostly used other currencies such as sterling, euro and yen for settlement. At present, the settlement proportion of these currencies has reached 30%. Through various efforts, after the downturn of 17% decline in export growth in the first four months of this year, Meiling's export volume showed an explosive growth of 30% in May. Coincidentally, some garment enterprises in Guangdong have also taken some export measures to avoid the risk of US dollar exchange rate. Yao Ying, Chairman of Foshan Jialida Textile Dyeing Co., Ltd.: Now we can use US dollars instead of US dollars as much as possible. Goods going to Japan and Europe are settled in Euros. We basically use a fixed exchange rate of 1.52 for Euros against US dollars, which will remain unchanged for one year and will be adjusted after one year.